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Section 1.05. For these reasons and in consideration of the mutual benefits to and promises <br />of the Parties set forth below, the Parties are entering into this Agreement for the purposes of <br />outlining the terms under which the City will participate in the cost to extend electric service to <br />Developers' respective property. <br />ARTICLE 11 <br />DEFINITIONS <br />Section 2.01. "Affiliate" any entity that directly or indirectly controls, is controlled <br />by, or is under common control with, Developers. <br />Section 2.02. "Business" means the production of magnets from recycled rare earth <br />materials to support a wide range of industrial sectors, including high performance electric motors, <br />energy generation, transportation and military/defense and all related activities on Parcel 4 as <br />shown in Exhibit A. "Business" shall, otherwise, have the same meaning as provided in the Chapter <br />380 Agreement. <br />Section 2.03. "Chapter 380 Agreement" means that certain Chapter 380 Economic <br />Development Incentive Agreement between the City and Developers dated April 18, 2017, <br />together with any amendments or modifications thereto. <br />Section 2.04. "Effective Date" means the date that UMC begins drawing permanent <br />electric power at its facilities on Parcel 4 of Exhibit A through the Electric Service. <br />Section 2.05. "Electric Service" means the electric power service infrastructure <br />constructed by the City to provide permanent electric service to UMC based on the electric usage <br />projections provided by UMC as outlined in Exhibit B, and a 138kV electric substation to be <br />constructed on an approximately 2.4 acre tract as shown in Exhibit A from which the Land and <br />other areas within the City's ETJ may be provided with electric service as it develops. <br />