32-17 Economic Development Revenue Bonds (Studebaker Project)

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"Qualified Investments" shall have the meaning assigned in the Financing Agreement. "Record Date" means the fifteenth day preceding any Interest Payment Date. "Redevelopment Commission" means the South Bend Redevelopment Commission. "Requisite Bondholders" means the holders of 66 2/3% in aggregate principal amount of Bonds. "Series 2017 Bonds" means City of South Bend, Indiana Taxable Economic Development Revenue Bonds, Series 2017 (Studebaker Project) in the aggregate principal amount of$3,500,000. "Tax Increment" means all property taxes generated from the incremental assessed value of real and depreciable personal property tax proceeds of designated taxpayers located in the Allocation Area. "TIF Pledge Resolution" means the resolution of the Redevelopment Commission adopted on May 25, 2017,pledging TIF Revenues to the Issuer. "TIF Revenues" means $3,500,000 of Tax Increment funds on hand generated in the Allocation Area and currently held in the Allocation Fund (as described in the TIF Pledge Resolution), which moneys are to be separated from all other moneys in said Fund as of the day of closing and pledged to the Issuer for payment of the Bonds pursuant to the TIF Pledge Resolution. "Trust Estate" means the funds and accounts, TIF Revenues and other assets described in the Granting Clause of this Indenture. "Trustee" means 1st Source Bank, South Bend, Indiana the party of the second part hereto, and any successor trustee or co-trustee. "Trustee Fees" means the acceptance fee and annual fees of the Trustee. Section 1.2. Rules of Interpretation. For all purposes of this Indenture, except as otherwise expressly provided or unless the context otherwise requires: (a) "This Indenture" means this instrument as originally executed and as it may from time to time be supplemented or amended pursuant to the applicable provisions hereof. (b) All references in this instrument to designated "Articles," "Sections" and other subdivisions are to the designated Articles, Sections and other subdivisions of this instrument as originally executed. The words "herein," "hereof' and "hereunder" and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. (c) The terms defined in this Article have the meanings assigned to them in this Article and include the plural as well as the singular and the singular as well as the plural. - 12 - I\11860514.2