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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23 “T/E Factor” means (i) during the initial BSBY Rate Period, 73.0%4 and (ii) thereafter, the T/E Factor, expressed as a positive percentage, determined by the Remarketing Agent, in its sole professional judgment, which, when incorporated into the BSBY Rate, would produce the lowest rate which will permit the Bonds to be sold at par on the first day of the appli cable BSBY Rate Period; provided, however, that from and after the date of any Determination of Taxability, the T/E Factor shall mean 100%.” “Term SOFR” means, for the applicable Corresponding Tenor, the forward-looking term rate based on SOFR administered by CME Group Benchmark Administration Limited (or a successor administrator selected by BSBY Rate Calculation Agent in its reasonable discretion). “Third Amended and Restated Agreement” means the Third Amended and Restated Loan Agreement, dated , 2022. “Third Amended and Restated Indenture” means this Third Amended and Restated Indenture, dated , 2022. “Trustee” means the Trustee at the time acting as such under this Indenture, originally U.S. Bank National Association, as Trustee, and any successor Trustee as determined or designated under or pursuant to this Indenture. “Unadjusted Benchmark Replacement” means the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment. “Unassigned Issuer’s Rights” means the Unassigned Issuer’s Rights as defined in the Agreement. “Underwriter” means PNC Debt Capital Markets, formerly NatCity Investments, Inc. “Variable Rate” means the Weekly Interest Rate. “Weekly Interest Rate” means (a) the rate of interest per annum determined by the Remarketing Agent on the Interest Rate Determination Date, to be the lowest interest rate, for the Interest Rate Period of one week (or less in the case of any such Interest Rate Period commencing on an Interest Period Reset Date which is not a Thursday or ending on the day preceding an Interest Period Reset Date which is not a Thursday) commencing on the applicable Interest Rate Adjustment Date, in the judgment of the Remarketing Agent (taking into consideration current transactions and comparable securities with which the Remarketing Agent is involved or of which it is aware and prevailing financial market conditions) at which, as of such Interest Rate Determination Date, the applicable Project Bonds could be remarketed at par, plus accrued interest (if any), on the Interest Rate Adjustment Date for that Interest Rate Period, or (b) in the event that the Remarketing Agent has been removed or has resigned and no successor has been appointed, or the Remarketing Agent has failed to determine the Weekly Interest Rate for whatever reason, or the Weekly Interest Rate cannot be determined pursuant to clause (a) for whatever reason, the 4 Bank to confirm T/E Factor remains at this percentage