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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17 “Initial BSBY Rate Period Termination Date” means (i) the first Business Day of January, 2027 or (ii) the first Business Day in January of any fifth year thereafter (i.e. 2032) if, prior to the end of the immediately preceding five year period, the Initial BSBY Rate Bond Purchaser has exercised its right to waive the mandatory tender of the Bonds for purchase in accordance with Section 3.2(a) hereof. “Interest Payment Date” or “Interest Payment Dates” means, (a) as to the Project Bonds, (i) while the Bonds bear interest at the Fixed Interest Rate, the first day of each January and July, and (ii) while the Project Bonds bear interest at the Weekly Interest Rate, the first Business Day of each January, April, July, and October, and (iii) while the Bonds bear interest at the BSBY Rate, the last day of the Interest Period therefor and, in the case of any Interest Period of more than three months’ duration, each day prior to the last day of such Interest Period that occurs at a three-month interval after the first day of such Interest Period, and the maturity date of the Bonds under which such BSBY Loan was made, and (b) as to Additional Bonds, each date or dates designated as an Interest Payment Date or Dates in the applicable Supplemental Indenture or Bond Ordinance. “Interest Period” means, (a) while Bonds are in BSBY Mode, the BSBY Rate Period, or (b) while Bonds are in an Interest Mode other than BSBY Mode, the period commencing on the Interest Period Reset Date and ending on the numerically corresponding day in the calendar month that is one3 month thereafter (in each case, subject to the availability thereof); provided that (i) if any Interest Period would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on the next preceding Business Day, (ii) any Interest Period that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Interest Period) shall end on the last Business Day of the last calendar month of such Interest Period, (iii) no Interest Period shall extend beyond the Maturity Date and (iv) no tenor that has been removed from this definition pursuant to clause (d) of Section 2.16(a) of this Indenture titled “Benchmark Replacement Setting” shall be available for specification in such Committed Loan Notice. For purposes hereof, the date of a Loan initially shall be the date on which such Loan is made and thereafter shall be the effective date of the most recent conversion or continuation of such Loan. Interest shall accrue from and including the first day of an Interest Period to but excluding the last day of such Interest Period. “Interest Period Reset Date” means the date on which the interest rate or rates on the Project Bonds converts from the Interest Rate Mode applicable to the Project Bonds prior to such date to a new Interest Rate Mode. An interest Period Reset Date shall be the first Business day of a month (other than the Initial BSBY Rate Period). The Interest Period Reset Date for the Init ial BSBY Rate Period shall be April __, 2022. “Interest Rate Adjustment Date” means (i) any date on which the interest rate or rates on the Project Bonds may be adjusted, either as the result of the conversion of the interest rate or rates on the Project Bonds from one Interest Mode to another, and additionally, with respect to Bonds bearing interest at the BSBY rate, the first Business day of each month during the Interest Period 3Bank to confirm interest period 6 months only