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"Event of Taxability" means any determination, decision or <br /> decree made by the Commissioner or any District Director of <br /> Internal Revenue Service, or by any court of competent jurisdiction <br /> that interest payable on the Series 1993 Bonds is includible in the <br /> gross income of a holder of the Series 1993 Bonds (other than a <br /> holder who is a substantial user or related person within the <br /> meaning of Section 147 (a) of the Internal Revenue Code of 1986, as <br /> amended (the "Code") , or any similar federal law then in effect) , <br /> or an opinion of Bond Counsel to the same effect. <br /> "Facilities" means the economic development facilities to be <br /> acquired and constructed with the funds advanced under the Loan. <br /> "Indenture" means the Trust Indenture dated as of December 1, <br /> 1993 , from the Issuer to the Trustee and all amendments and <br /> supplements thereto. <br /> "Issuer" means the City of South Bend, Indiana. <br /> "Loan" means the loan by the Issuer to the Borrower of the <br /> proceeds of the sale of the Series 1993 Bonds. <br /> "Mortgaged Property" means the property described in the <br /> granting clauses hereof plus any additional property which shall <br /> have been subjected to the lien hereof pursuant to the provisions <br /> of Article III and VI hereof. <br /> "National Prime Rate" or "Prime Rate" means the prime rate on <br /> corporate loans as announced from time to time by Citibank, N.A. , <br /> New York, New York. <br /> "Net Proceeds, " when used with respect to any insurance or <br /> condemnation award, means the gross proceeds from the insurance or <br /> condemnation award remaining after payment of all expenses <br /> (including attorneys' fees and any extraordinary expenses of the <br /> Trustee of the Issuer) incurred in the collection of such gross <br /> proceeds. <br /> "Notes" means the Series 1993 Note, the Additional Notes and <br /> any Notes issued in exchange therefor pursuant to Section 3 . 15 <br /> hereof, and the 1986 Notes, all of which shall rank on a parity <br /> with each other. <br /> "Outstanding, " with reference to Bonds, means all Bonds <br /> theretofore issued and not yet fully paid and discharged under the <br /> terms of the Indenture and with reference to Notes, means all Notes <br /> theretofore issued and not yet paid and discharged under the terms <br /> of this Loan Agreement with respect to Notes. <br /> "Permitted Encumbrances" means, as of any particular time, (i) <br /> any exception to title shown in Exhibit A hereto, (ii) this Loan <br /> Agreement, the 1986 Loan Agreement, the Indenture and the 1986 <br /> -7- <br />