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1994-06-21 Minutes
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1994-06-21 Minutes
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this definition as "credit support") and for payment of the <br />• purchase price of Bonds delivered or deemed delivered in accordance <br />with Article V of this Indenture (referred to in this definition <br />as "liquidity support"); provided that an Alternate Credit Facility <br />may be issued to provide only credit support or liquidity support <br />so long as a separate Alternate Credit Facility or Renewal Credit <br />Facility provides at all times while such Alternate Credit Facility <br />is in effect complementary credit support or liquidity support, as <br />the case may be, so that at all times while any of the Bonds bear <br />interest at a Weekly Rate or an Adjustable Long Rate such Bonds <br />shall be entitled to credit support and liquidity support. Any <br />amendment of a Credit Facility which is not a Renewal Credit <br />Facility shall be an Alternate Credit Facility. <br />"Authority" means the South Bend Redevelopment Authority, <br />a public body, corporate and politic duly organized and validly <br />existing under the laws of the State of Indiana, and its successors <br />and assigns. <br />"Authorized Denomination" means, prior to the Conversion <br />Date with respect to a particular Bond, $100,000 or any integral <br />multiple thereof (except for one Bond issuable in any amount <br />greater than $100,000), and after the Conversion Date with respect <br />to a particular Bond, $5,000 or any integral multiple thereof. <br />"Authorized Officer" means (i) in the case of the <br />• Authority, the President or Vice President; (ii) in the case of the <br />Trustee, any Vice President, any Assistant Vice President, any <br />Trust Officer and any other person authorized by or pursuant to the <br />by-laws of the Trustee or a resolution of the Board of Directors <br />of the Trustee; and (iii) in the case of the Credit Facility <br />Issuer, any officer authorized by or pursuant to the by-laws or <br />resolution of the Board of Directors of the Credit Facility Issuer. <br />"Bank's Percentage" means, as of any date of <br />determination, the quotient (expressed as a percentage) obtained <br />by dividing (a) (i) the principal amount of Bonds outstanding which <br />are entitled to the benefits of a Credit Facility plus (ii) the <br />principal amount of Pledged Bonds by (b) the principal amount of <br />Bonds outstanding. <br />"Board" means the Board of Directors of the Authority. <br />"Bondholder," "holder," "owner" or"owner of the Bonds" <br />means the registered owner of any Bond. <br />"Bond" or "Bonds" means any Bond or Bonds, or all of the <br />Bonds, as the case may be, authenticated and delivered under this <br />Indenture. <br />"Bond Purchase Fund" means the trust fund so designated <br />which is created and established pursuant to Section 412 hereof. <br />5 <br />
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