La. Admin. Code tit. 13 § III-1503
Applicant-the public entity requesting the loan funding from the Louisiana Project Equity Fund for equipment and other materials to be owned by the public entity during the pendency of the loan and to be utilized by the company for the project.
Award-the funding of the loan from the LEDC under this program to eligible applicants.
Company-a legal entity that is duly authorized to do and doing business in Louisiana in need of loan funding for a project pursuant to these rules.
LED-the Louisiana Department of Economic Development charged by statute with administering the Project Equity Fund and the LED cluster directors and assigned staff shall administer the fund provided for by these rules.
LEDC Board-the board of directors of the Louisiana Economic Development Corporation and when referred to herein in terms of approval of an award, shall mean that the award has been approved in accordance with the by-laws and procedures of the board of directors whether such approval requires or does not require board approval under those by-laws and procedures.
Loan Agreement-the loan agreement of contract hereinafter referred to between DED, LEDC, company and applicant through which the parties by cooperative endeavor or otherwise, including attached or referenced promissory notes, securitization, lease or other appropriate documentation necessary to conventionally protect the interest of the LEDC in the funding of the loan, set forth the terms, conditions and performance objectives of the award provided pursuant to these rules.
Project- the undertaking of the applicant and company for which a loan pursuant to these Project Equity Fund rules are sought and includes introduction of innovative development or production of products to the state of Louisiana that furthers and promotes the development of cluster industries and businesses through the loan funding of capital equipment, accompanying necessary inventory and/or technology that causes and/or enhances the operation of such equipment and results in increased economy and efficiency in Louisiana products.
Secretary- the secretary of the LED, who is also the president of LEDC.
La. Admin. Code tit. 13, § III-1503