; or (B) provides capital directly for costs associated with a pay-for-performance project. (5) Pay-for-performance investor The term pay-for-performance investor means a State or local government, an Indian Tribe, or a nonprofit or for-profit organization that provides upfront loaned capital for a pay-for-performance project with the expectation of a financial return dependent on a project outcome. (6) Pay-for-performance project The term pay-for-performance project means a project that— (A) would provide or enhance a recreational opportunity; (B) is conducted on— (i) National Forest System land; or (ii) other land, if the activities would benefit National Forest System land (including a recreational use of National Forest System land); and (C) would use an innovative funding or financing model that leverages— (i) loaned capital from a pay-for-performance investor to cover upfront costs associated with a pay-for-performance project, with the loaned capital repaid by a pay-for-performance beneficiary at a rate of return dependent on a project outcome, as measured by an independent evaluator