Common use of PURPOSE OF THE ALLOCATION Clause in Contracts

PURPOSE OF THE ALLOCATION. This Annex 1 constitutes an integral part of the Allocation Agreement dated as of December 4, 2012, between the Treasury and the Participating Municipalities. The purpose of the Allocation is to assist the Participating Municipalities to increase the amount of capital made available by private lenders to small businesses through its Approved Municipal Programs. To accomplish this, the Participating Municipalities will use $3,000,000 of their Allocated Funds to support the new Seed Capital Network (SCN) program, a venture capital program that will create angel investment networks that will invest in eligible small businesses in the Participating Municipalities. The Participating Municipalities will use $10,168,350 of their Allocated Funds to support the new Credit Guarantee Program (CGP) will pledge up to 50 percent of the loan value in cash collateral to financial institution lenders for loan requests where there financial institutions have identified a collateral shortfall. Both the CGP and the SCN programs will be implemented by the Participating Municipalities, as identified in Annex 8, in accordance with the Cooperative Agreement. Section 5.1 of the Allocation Agreement identifies the Participating Municipalities as the agencies responsible for the implementation of the Participating Municipalities’ Approved Municipal Programs. In the application dated, July 20, 2012, the Participating Municipalities identified the Wyoming Smart Capital Network (WSCN), as a contracting entity which would be administering specific aspects of the Approved Municipal Programs. WSCN is a for-profit entity supervised by the Participating Municipalities. As a result of WSCN’s administration of specific aspects of the Approved Municipal Programs, the Participating Municipalities shall extend and apply to WSCN, and shall require WSCN to also comply with, the provisions of Article IV and VI of the Allocation Agreement (except that, for the purpose of extending and applying Articles IV and VI WSCN’s administration of specific aspects of the Approved Municipal Programs, the Participating Municipalities shall substitute references to "Participating Municipalities" in Articles IV and VI with references to “WSCN” except for purposes of Section 4.2, references to OMB Circular A-87 will be substituted with reference to the Federal Acquisition Regulation, 48 C.F.R. Part 31.2).

PURPOSE OF THE ALLOCATION. This Annex 1 constitutes an integral part of the Allocation Agreement (the “Allocation Agreement”) dated as of December 4March 14, 2012, between the United States Department of the Treasury (the “Treasury”) and the Commonwealth of the Northern Mariana Islands (the “Participating MunicipalitiesState”). Capitalized terms used herein and not defined herein shall have the respective meanings ascribed to them in the Allocation Agreement. The purpose of the Allocation is to assist the Participating Municipalities State to increase the amount of capital made available by private lenders to small businesses through its Approved Municipal ProgramsState Program. To accomplish this, the Participating Municipalities State will use $3,000,000 of their Allocated Funds 4,615,193 to support the new Seed Capital Network Commonwealth of the Northern Mariana Islands (SCNCNMI) programLoan Purchase Participation Program (LPPP), a venture capital loan participation program that will create angel investment networks that will invest in purchase a participation of up to 40% of the value of a loan made to an eligible small businesses in business. Additionally, the Participating Municipalities. The Participating Municipalities State will use $10,168,350 of their Allocated Funds 8,553,157 to support the new CNMI Credit Guarantee Support Program (CGP) CSP), a collateral support program that will pledge up to 50 percent collateral of no more than 50% of the total principal amount of an eligible loan value in cash collateral to financial institution lenders for loan requests where there financial institutions have identified a collateral shortfallsmall businesses. Both the CGP and the SCN programs will be implemented administered by the Participating MunicipalitiesDepartment of Commerce (DOC), as identified in Annex 8, in accordance with an agency of the Cooperative Agreementterritory. Section 5.1 of the Allocation Agreement identifies the Participating Municipalities DOC as the agencies agency responsible for the implementation of the Participating Municipalities’ State’s Approved Municipal ProgramsState Program. In the application dated, July 20dated January 18, 2012, DOC identified two entities that will be providing administrative support for the Participating Municipalities identified respective programs: the Wyoming Smart Capital Network Commonwealth Development Authority (WSCNCDA) and the Michigan Economic Development Corporation (MEDC), as a contracting entity which would be administering specific aspects of the Approved Municipal Programs. WSCN is a for-profit entity supervised by the Participating Municipalities. As a result of WSCNCDA’s and MEDC’s respective administration of specific aspects of the Approved Municipal State Programs, the Participating Municipalities State shall extend and apply to WSCNCDA and MEDC, and shall require WSCN CDA and MEDC to also comply with, the provisions of Article IV and VI of the Allocation Agreement (except that, for the purpose of extending and applying Articles IV and VI WSCNto CDA’s and MEDC’s administration of specific aspects of the Approved Municipal State Programs, the Participating Municipalities State shall substitute references to "Participating MunicipalitiesState" in Articles IV and VI with references to “WSCNCDA” except for purposes of Section 4.2or “MEDC”, references to OMB Circular A-87 will be substituted with reference to as the Federal Acquisition Regulation, 48 C.F.R. Part 31.2case may be).

PURPOSE OF THE ALLOCATION. This Annex 1 constitutes an integral part of the Allocation Agreement (the “Allocation Agreement”) dated as of December 4February 14, 2012, 2012 between the United States Department of the Treasury (the “Treasury”) and the Municipality of Anchorage, Alaska (the “Participating MunicipalitiesMunicipality”). Capitalized terms used herein and not defined herein shall have the respective meanings ascribed to them in the Allocation Agreement. The purpose of the Allocation is to assist the Participating Municipalities Municipality to increase the amount of capital made available by private lenders to small businesses through its Approved Municipal ProgramsProgram. To accomplish this, the Participating Municipalities Municipality will use $3,000,000 of their Allocated Funds 13,168,350 to support the new Seed Capital Network 49th State Angel Fund (SCN) program49SAF), a venture capital program municipal angel investment fund that will create angel investment networks that will invest make equity investments in eligible small businesses in the Participating Municipalitiesbusinesses. The Participating Municipalities will use $10,168,350 of their Allocated Funds to support the new Credit Guarantee Program (CGP) will pledge up to 50 percent of the loan value in cash collateral to financial institution lenders for loan requests where there financial institutions have identified a collateral shortfall. Both the CGP and the SCN programs 49SAF will be implemented administered by the Participating MunicipalitiesAnchorage Finance Department (AFD), as identified in Annex 8, in accordance with the Cooperative Agreementa municipal department. Section 5.1 of the Allocation Agreement identifies the Participating Municipalities AFD as the agencies agency responsible for the implementation of the Participating Municipalities’ Municipality’s Approved Municipal ProgramsProgram. In the application dated, July dated December 20, 20122011, the Participating Municipalities AFD identified the Wyoming Smart Capital Network (WSCN), as potential for administrative support to be provided by a contracting entity which would be administering specific aspects of for the Approved Municipal Programsprogram. WSCN is a for-profit entity supervised by Should the Participating Municipalities. As Municipality elect to contract with a result of WSCN’s third party entity for the administration of specific aspects of the Approved Municipal ProgramsProgram, the Participating Municipalities Municipality shall extend and apply to WSCNsuch contracting entity, and shall require WSCN such contracting entity to also comply with, the provisions of Article IV and VI of the Allocation Agreement (except that, for the purpose of extending and applying Articles IV and VI WSCNto the contracting entity’s administration of specific aspects of the Approved Municipal Programs, the Participating Municipalities Municipality shall substitute references to "Participating MunicipalitiesMunicipality" in Articles IV and VI with references to “WSCN” except for purposes of Section 4.2the contracting entity, references to OMB Circular A-87 will be substituted with reference to as the Federal Acquisition Regulation, 48 C.F.R. Part 31.2case may be).