Bill No. 20-22 Amending Bond Ordinance_City of South Bend, Indiana Variable Rate Economic Development Revenue Bonds, Series 2007 (PEI_Genesis Project)

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12 adoption of any portion of such market practice is not administratively feasible or if BSBY Rate Calculation Agent determines that no market practice for the administration of any such rate exists, in such other manner of administration as BSBY Rate Calculation Agent decides is reasonably necessary in connection with the administration of the Agreement, the Bonds, the Notes and the other documents relating thereto). “Code” means the Internal Revenue Code of 1986, as amended from time to time. References to the Code and Sections of the Code include relevant applicable regulations and proposed regulations thereunder (and under the related provisions of the Internal Revenue Code of 1954, as amended) and any successor provisions to those Sections, regulations or proposed regulations. “Commission” means the South Bend Economic Development Commission, a commission established under the Act. “Common Council” means the Common Council of the City. “Confirming Letter of Credit” means (a) any confirming letter of credit, advice of confirmation or similar instrument issued in connection with a Letter of Credit; and (b) upon the issuance and effectiveness thereof, any Alternate Confirming Letter of Credit. “Confirming Bank” means the bank or financial institution issuing a Confirming Letter of Credit. Upon issuance and effectiveness of any Alternate Confirming Letter of Credit, “Confirming Bank” shall mean the issuer thereof and its successors and assigns. “Confirming Bank Reimbursement Agreement” means the reimbursement or similar agreement entered into between the Borrower and the issuer of any Confirming Letter of Credit or Alternate Confirming Letter of Credit. “Conversion” means (i) a conversion of any Bond from one Interest Rate Mode to another Interest Rate Mode, and (ii) the establishment of a new BSBY Rate Period (whether or not of the same duration as the prior BSBY Rate Period). “Conversion Date” means (i) the date on which the Bonds shall be converted from one Interest Rate Mode to another Interest Rate Mode in accordance with the terms of this Indenture, and (ii) the date of commencement of any Interest Period (other than the Initial BSBY Rate Period), subject to the following: for Bonds bearing interest at a Weekly Rate, or BSBY Rate, the Conversion Date may be any regularly scheduled Interest Payment Date. “Corresponding Tenor” with respect to any Available Tenor means, as applicable, either a tenor (including overnight) or an interest payment period having approximately the same length (disregarding business day adjustment) as such Available Tenor; provided that, (i) if any Available Tenor does not correspond to a tenor applicable to the Unadjusted Benchmark Replacement, the closest corresponding tenor of the Unadjusted Benchmark Replacement shall be applied, and (ii) if applicable, if a tenor of the Unadjusted Benchmark Replacement corresponds equally to two tenors of the then-current Benchmark, the corresponding tenor of the shorter duration shall be applied.