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Delaware, its successors and assigns, and, if such corporation shall be dissolved or liquidated or shall no longer perform the functions of a securities rating agency, "Moody's" shall be deemed to refer to any other nationally recognized securities rating agency designated by the Trustee., at the written direction of the Authority with written notice to the Remarketing Agent and the Credit Facility Issuer. "No-Call Period" means the period of time during which a Bond in an Adjustable Long Mode or a Fixed Mode may not be called for optional redemption as set forth in Section 510(a)(ii) or 510(a)(iii) hereof. "Official Statement" means the Official Statement prepared in connection with the issuance and sale of the Bonds. "Operation and Reserve Fund" means the trust fund so designated which is created and established pursuant to Section 404. "Opinion of Bond Counsel" means a written opinion of a law firm having a national reputation in the field of municipal law whose opinions are generally accepted by purchasers of municipal bonds, which counsel and opinion, including the scope, form, substance and other aspects thereof, is acceptable to the Authority and the Trustee, and which opinion may be based upon a ruling or • rulings of the Internal Revenue Service. "Outstanding Bonds" or "Bonds outstanding" or "outstanding Bonds" means, as of any given date, all Bonds which have been duly authenticated and delivered under this Indenture, except: (a) Bonds cancelled after purchase in the open market or because of payment at or redemption prior to Maturity; (b) Bonds for the payment or redemption of which cash or Government Obligations or both shall have been theretofore deposited with the Trustee (whether upon or prior to the Maturity or redemption date of any such Bonds) in accordance with Article XII hereof; provided that if such Bonds are to be redeemed prior to the Maturity thereof, notice of such redemption shall have been given or arrangements satisfactory to the Trustee shall have been made therefor, or waiver of such notice satisfactory in form to the Trustee shall have been filed with the Trustee; (c) Bonds deemed to be tendered in accordance with Section 409 or no longer deemed to be outstanding as provided in Section 511(d) of this Indenture; and (d) Bonds in lieu of which other Bonds have been authenticated under Section 205, 207 or 208 hereof. 10