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Construction Fund" shall mean the separate and segregated fund or account established <br />and created by the Participant pursuant to the Authorizing Instrument to receive proceeds of the <br />Bonds and from which Eligible Costs of the Project may be paid by the Participant. <br />Credit Instrument" means a letter of credit, surety bond, liquidity facility, insurance <br />policy or comparable instrument furnished by a Credit Provider that is used by the Participant to <br />meet all or a portion of any debt service reserve requirement securing the Bonds or any other bonds <br />payable from the revenues of the Drinking Water System, which bonds are on a parity with the <br />Bonds. <br />Credit Provider" means a bank, insurance company, financial institution or other entity <br />providing a Credit Instrument. <br />Department"shall mean the Indiana Department of Environmental Management created <br />under I.C. 13-13-1-1 or its successor. <br />Deposit Agreement" shall mean an agreement between the Participant and the Deposit <br />Agreement Counterparty in such form as from time to time determined by the Finance Authority <br />pursuant to which (a)the Participant's Bond Fund (including any reserve account established and <br />created by the Participant pursuant to the Authorizing Instrument related thereto) shall be held by <br />such Deposit Agreement Counterparty and available for payment of the Bonds and any other <br />similar obligations of the Participant that are payable from the Bond Fund regardless whether they <br />are on a parity basis, (b) such Deposit Agreement Counterparty serves as the paying agent for the <br />Bonds and any other such similar obligations of the Participant that are payable from the Bond <br />Fund, and (c) the Participant's Construction Fund may be held by such Deposit Agreement <br />Counterparty upon any Loan disbursement by the Finance Authority to it from time to time. <br />Deposit Agreement Counterparty" shall mean the financial institution that enters into <br />a Deposit Agreement with the Participant, which financial institution shall be approved by the <br />Finance Authority and may be replaced by the Finance Authority from time to time. <br />Director of Environmental Programs"shall mean the person designated by the Finance <br />Authority as authorized to act as the Director of Environmental Programs (which designation <br />includes such Director's assumption of the duties previously assigned to the Drinking Water SRF <br />Program Representative and the Drinking Water SRF Program Director) and where not limited, <br />such person's designee. <br />Disbursement Agent" shall mean the party disbursing the Loan to or for the benefit of <br />the Participant, which shall be the Trustee unless amounts are held in the Construction Fund, in <br />which case the Disbursement Agent shall thereafter be the Deposit Agreement Counterparty as the <br />party disbursing amounts that are held in the Construction Fund unless otherwise agreed by the <br />Finance Authority. <br />Disbursement Request" shall mean a request for a disbursement of the Loan made by <br />an Authorized Representative in such form as the Finance Authority may from time to time <br />prescribe. <br />B-3