(a) “Bonds” means the taxable or tax-exempt asset-backed bonds, notes or other obligations, authorized to be issued by the Corporation pursuant to this chapter.
(b) “Corporation” means the Tobacco Settlement Financing Corporation established by section 1024 under this chapter.
(c) “Government” means the Government of the Virgin Islands.
(d) “Master Settlement Agreement” means the settlement agreement and related documents, as they may be amended from time to time, entered into on November 23, 1998, by the Government, 46 states and five other United States jurisdictions and the leading United States tobacco product manufactures.
(e) “Purchase Agreement” means a contract, as authorized under section 1023 of this chapter, between the Corporation and the Government, under which the Government sells to the Corporation, except the right to enforce the Master Settlement Agreement, all of the Government's right, title, and interest in certain payments received and to be received by the Government under the Master Settlement Agreement, including all the moneys, and any interest thereon, payable to or received by the Government under the Master Settlement Agreement, except for the payments that have been received by the Government prior to February 1, 2001, in exchange for a cash payment from the net proceeds of the sale of the Bonds.
(f) “Residual Bond” means a Bond held in the Tobacco Settlement Health Care and Capital Improvement Fund established by title 33, chapter 111, section 3100b, Virgin Islands Code Act No. 6360, evidencing the Residual Interest.
(g) “Residual Interest” means that portion of any payments received by the Corporation under the Master Settlement Agreement, if any, which is not annually required to:
(1) repay the holders of the Bonds, other than the Residual Bond;
(2) establish, maintain or replenish any reserve funds created in connection with the issuance of the Bonds, other than the Residual Bond;
(3) pay any other obligations of the Corporation, other than the Residual Bond incurred in connection with the issuance of the Bonds; or
(4) pay the actual, reasonable and necessary expenses of the Corporation.
(h) “Virgin Islands” means the Virgin Islands.