1994-06-21 Minutes - Laserfiche WebLink

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agency or instrumentality thereof when such obligations are backed by the full faith and credit of the United States of America. "Immediate Notice" means notice by telephone, telex or telecopier to such address as the addressee shall have directed in writing, promptly followed by written notice by first class mail, postage prepaid; provided, however, that if any Person required to give an Immediate Notice shall not have been provided with the necessary information as to the telephone, telex or telecopier number of an addressee, Immediate Notice shall mean written notice by first class mail, postage prepaid. "Indenture" means this Trust Indenture dated as of June 1, 1994 between the Authority and the Trustee, as it may from time to time be amended or supplemented. "Independent Counsel" means an attorney duly admitted to practice law before the highest court of any state and, without limitation, may include independent legal counsel for the Authority, the Trustee or the Tender Agent. "Initial Credit Facility" means the transferable irrevocable direct pay letter of credit delivered by the Initial Credit Facility Issuer to the Trustee concurrently with the original issuance of the Bonds. "Initial Credit Facility Issuer" means The Fuji Bank, Limited, New York Branch. "Interest Component" means the maximum amount stated in the Credit Facility (as reduced and reinstated from time to time in accordance with the terms thereof) which may be drawn for the payment of accrued interest on the Bonds or for the payment of the portion of the purchase price of Tendered Bonds corresponding to interest accrued on the Tendered Bonds. "Interest Coverage Period" means the number of days specified in the Credit Facility, initially days, and any other number of days as may be required by Section 406(h) hereof, which is used to determine the Interest Component. "Interest Coverage Rate" means the rate which is used to determine the Interest Component which shall be the Maximum Rate for Bonds secured by the Initial Credit Facility, and shall be specified for Bonds bearing interest in each particular Mode subsequent to the term of the Initial Credit Facility by the Remarketing Agent as the maximum interest rate on such Bonds, in writing to the Trustee, at the time such Bonds commence bearing interest in accordance with such Mode as such specification may be changed from time to time by the Remarketing Agent subject to compliance with Section 406(h) hereof. 8