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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19 “Loan” means the loan by the Issuer to the Borrower of the proceeds received from the sale of the Bonds. “Loan Payments” means the amounts required to be paid by the Borrower in repayment of the Loan pursuant to the provisions of the Notes and Article IV of the Agreement. “Mandatory Bond Purchase Date” means a Mandatory Bond Purchase Date as defined and provided for in Section 2.07 hereof. “Maximum Lawful Rate” means, with respect to the Bonds which in the BSBY Rate Mode, the maximum rate of interest on the relevant obligation permitted by applicable law without regard to any filing made by a lender with respect to notice of rates in excess of any statutory or regulatory threshold interest rate. “Maximum Rate” means, with respect to the Bonds while in any Interest Rate Mode other than the BSBY Rate Mode, (a) prior to the Fixed Interest Rate Commencement Date, the lesser of (i) the maximum interest rate at which the Letter of Credit and the Confirming Letter of Credit, if any, then in effect provides coverage, or (ii) 9% per annum, and (b) upon and after the Fixed Interest Rate Commencement Date, the Fixed Interest Rate. “Moody’s” means Moody’s Investors Service, a Delaware corporation, and its successors and assigns. “Nominal BSBY Rate Period” means, with respect to a BSBY Rate Period, a period of two or more consecutive Semiannual Periods (expressed in years and half years). “Notes” means the Project Note and any Additional Notes. “Ordinary Services” and “Ordinary Expenses” means those services normally rendered, and those expenses (including reasonable counsel fees and expenses) normally incurred, by a trustee under instruments similar to this Indenture. Any claim by the Trustee arising from such services or expenses shall be subordinate to the claims of the Bondholders and shall not constitute a lien against the Revenues. “Original Agreement” means that certain Loan Agreement dated as of even date with the Original Indenture, between the Issuer and the Original Borrower. “Original Indenture” means that certain Trust Indenture, dated January 1, 2007 between the Issuer and the Trustee. “Outstanding Bonds” or “Bonds outstanding” means, as of the applicable date, all Bonds which have been authenticated and delivered, or which are being delivered by the Trustee under this Indenture, except: (a) Bonds canceled upon surrender, exchange or transfer, or canceled because of payment or redemption on or prior to that date;