Section 457-309-1 - Definitions1. Defined Terms: A. "Act" means the Finance Authority of Maine Act.B. "Authority" means the Finance Authority of Maine.C. "Eligible Borrower" means a person, or for-profit business entity which meets the criteria specified in Section 3 of this Rule.D. "Chief Executive Officer" means the Authority's Chief Executive Officer or a person acting under the direction of the Chief Executive Officer.E. "Interest Rate" means the amount of annual interest charged on the principal balance of the loan.F. "Loan" means a loan from the Waste Reduction and Recycling Loan Fund.G. "Loan Commitment" means a letter from the Chief Executive Officer or designee to an applicant agreeing to make a loan subject to terms, conditions and requirements stated therein.H. "Members" means the members of the Finance Authority of Maine.I. "Note" means a written agreement between the Authority and Borrower, wherein the Borrower promises to repay the loan according to terms and conditions.J. "Post-Consumer material" means any residual material after use by a product's intended end user, other than industrial users.K. "Program" means Waste Reduction and Recycling Loan Fund Program.L. "Project" means any building, structure, machinery, equipment or facility which may be considered necessary for recovery, separation, remanufacture or reuse of materials contained in solid or hazardous waste or for the reduced generation of solid or hazardous waste, together with all land, property rights, rights-of-way, franchises, easements and interests in land necessary or convenient for the construction or operation of the project.M. "State Plan" means the State Waste Management and Recycling Plan as provided for in P.L. 1989, c. 585 § 2122. 94-457 C.M.R. ch. 309, § 1