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<br />18 <br /> <br />applicable thereto. Except as otherwise provided with respect to an Interest Rate Adjustment Date <br />which is also an Interest Period Reset Date, an Interest Rate Adjustment Date shall be Thursday <br />of each week while the Project Bonds bear interest at the Weekly Interest Rate. <br />“Interest Rate Determination Date” means (a) with respect to the Fixed Interest Rate, the <br />tenth Business Day preceding an Interest Rate Adjustment Date and (b) with respect to the Weekly <br />Interest Rate, not later than 2:00 p.m. according to local time at the designated corporate trust <br />office of the Trustee on Wednesday of each week, or the next succeeding Business Day if such <br />Wednesday is not a Business Day. <br />“Interest Rate Mode” means any of those modes of interest with respect to the Bonds <br />permitted by this Indenture, specifically, the Weekly Interest Rate, the BSBY Rate and the Fixed <br />Interest Rate. <br />“Interest Rate for Advances” means a rate per annum which is equal to two percent (2.00%) <br />per annum plus the Prime Rate. <br />“Issue Date” means the date on which the Project Bonds or any series of Additional Bonds, <br />as applicable, are delivered to the purchaser or purchasers thereof upon the original issuance <br />thereof. <br />“Issuer” means the City, and its lawful successors and assigns. <br />“Letter of Credit” means (a) the irrevocable direct pay letter of credit to be issued by the <br />Bank and delivered to the Trustee on the same date as the initial delivery of the Project Bonds and <br />being an irrevocable obligation to make payment to the Trustee of up to the amounts therein <br />specified with respect to (i) the principal amount of the Project Bonds outstanding to enable the <br />Trustee to pay (A) the principal amount of the Project Bonds when due at maturity or upon <br />redemption or acceleration, and (B) an amount equal to the principal portion of the purchase price <br />of any Project Bonds or Beneficial Ownership Interests tendered for purchase by the Holders or <br />Beneficial Owners thereof, plus (ii) the amount of interest due on the Project Bonds but not to <br />exceed 105 days’ accrued interest (or 200 days’ accrued interest if the Bonds bear interest at the <br />Fixed Interest Rate) at the Maximum Rate to enable the Trustee to pay (A) interest on the Project <br />Bonds when due and (B) an amount equal to the interest portion, if any, of the purchase price of <br />any Project Bonds or Beneficial Ownership Interests tendered for purchase by the Holders or <br />Beneficial Owners thereof, as the same may be transferred, reissued, extended, amended to change <br />the interest coverage period as contemplated in Section 2.03 hereof or replaced in accordance with <br />this Indenture, the Reimbursement Agreement and the Letter of Credit; and (b) upon the issuance <br />and effectiveness thereof, any Alternate Letter of Credit. <br />“Letter of Credit Termination Date” means the expiration date of the Letter of Credit or the <br />Confirming Letter of Credit or of any Alternate Letter of Credit or Alternate Confirming Letter of <br />Credit. <br />“Letter of Representations” means the Issuer’s Blanket Letter of Representations on file <br />with the Depository.