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"American" shall mean American SpiralWeld Pipe Company, LLC, a South Carolina Limited <br />Liability Company. <br />"Average Headcount" shall mean the number of Full-time Equivalent ("FTE") positions in a <br />calendar year as determined by calculating the average number of FTE positions reflected <br />in each of American's Quarterly Reports filed with the Texas Workforce Commission <br />("TWC") and provided to PEDC in connection with the reporting requirements set forth <br />herein. <br />"Beginning of Construction" shall mean the date that American has both (i) obtained all <br />necessary permits to begin the first stage of construction as set forth in paragraph 3.2.B <br />herein below and has (ii) begun major land grading work on the Property. <br />"City" shall mean the City of Paris, Lamar County, Texas. <br />"City Property" shall have the meaning set forth in paragraph 4.3.A. <br />"Completion of Construction" shall mean the date upon which the City issues Certificates of <br />Occupancy for all structures on the Property. Once American applies for said Certificates of <br />Occupancy, the City shall not unreasonably delay the issuance of same. <br />"Effective Date" shall mean the last date of execution of this Master Agreement. <br />"Environmental Remediation Requirements" shall have the meaning set forth in paragraph <br />3.3.C. <br />"Expiration Date" shall mean the 10th anniversary of the Effective Date. Notwithstanding <br />the foregoing, the Tax Abatement Agreement (Exhibit C) shall expire on the last date of the <br />Abatement Period, as set forth therein. <br />"Facility" shall mean a state of the art spiral weld pipe mill to be constructed by American <br />on the Property and operated by American in accordance with its obligations under this <br />Master Agreement and the Tax Abatement Agreement (Exhibit C). <br />"First Year of Production" shall mean the first, full calendar year that American's Paris, TX <br />Facility is producing spirally -welded steel pipe for commercial sale. <br />"Force Majeure" shall mean any contingency or cause beyond the reasonable control of <br />American including, without limitation, acts of God, or the public enemy, any natural <br />disaster, war, riot, civil commotion, insurrection, governmental or de facto governmental <br />4 <br />32300891 00 <br />