Existing Headquarters Debt Facility definition
Existing Headquarters Debt Facility means that certain qualified low income investment facility related to the Headquarters, including but not limited to (i) Term Note (Libor Only – Designated Rate Reset), dated December 20, 2012, given by Paycor Headquarters, LLC in favor of PNC Bank, National Association, in the amount of $4,240,000, (ii) Promissory Note A (PNC) – (Paycor Headquarters, LLC), dated December 20, 2012, given by Paycor Headquarters, LLC in favor of PNC CDE 21, LP, in the amount of $3,440,000, (iii) Promissory Note A (Stonehenge) – (Paycor Headquarters, LLC), dated December 20, 2012, given by Paycor Headquarters, LLC in favor of Stonehenge Community Development LXXXII, LLC, in the amount of $10,320,000, (iv) Promissory Note B (PNC) – (Paycor Headquarters, LLC), dated December 20, 2012, given by Paycor Headquarters, LLC in favor of PNC CDE 21, LP, in the amount of $1,560,000, (v) Promissory Note B (Stonehenge) – (Paycor Headquarters, LLC), dated December 20, 2012, given by Paycor Headquarters, LLC in favor of Stonehenge Community Development LXXXII, LLC, in the amount of $4,680,000, (vi) Guaranty Agreement (Payment and Completion), dated December 20, 2012, between Paycor, Inc., Paycor Headquarters, LLC, and PNC Bank, National Association, as amended, (vii) Operating Agreement of Paycor Headquarters, LLC dated December 11, 2012 Section 7.3 in the event of an operating deficit, allows for a Capital Call from the Manager (Paycor, Inc.) of up to $8 million, (viii) Pledge and Security Agreement [Manager’s Rights], dated December 20, 2012, between Borrower (as defined therein), PNC CDE 21, LP, and Stonehenge Community Development LXXXII, LLC, as amended, (ix) Open-End Mortgage and Security Agreement, dated December 20, 2012, between Paycor Headquarters, LLC, and PNC Bank, National Association (Document No. ▇▇-▇▇▇▇▇▇▇ as recorded in the ▇▇▇▇▇▇▇▇ County Recorders Office on December 21, 2012), including a mortgage on property, buildings, mineral rights, furniture, fixtures and equipment, as well as a security interest in the personal property of the mortgagee, (x) Open-End Mortgage and Security Agreement, dated December 20, 2012, between Paycor Headquarters, LLC, PNC CDE 21, LP, Stonehenge Community Development LXXXII, LLC, and PNC Bank, National Association (Document No. ▇▇-▇▇▇▇▇▇▇ as recorded in the ▇▇▇▇▇▇▇▇ County Recorders Office pm December 21, 2012), including a mortgage on property, buildings, mineral rights, furniture, fixtures and equipment, as well as a security interest in the...