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88-87 Amend 116-84
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88-87 Amend 116-84
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Last modified
5/14/2013 3:06:53 PM
Creation date
9/8/2003 6:57:10 AM
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Office Of Council
Document Type
Ordinances
Date
9/8/2003
Date Adopted
2/1/1988
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pursuant to and in accordance with Article VIII of the Original Indenture, the <br />Issuer and Trustee do hereby amend the Original Indenture as follows: <br /> <br /> (A) Section 1.01 of the Original Indenture shall be deleted and in <br />its place the following shall be substituted: <br /> <br />ARTICLE I <br /> <br />DEFINITIONS <br /> <br /> SECTION 1.01. Definitions. In addition to the words and terms de- <br />fined elsewhere in this Indenture or by reference to the Agreement, unless the <br />context or use clearly indicates another meaning or intent: <br /> <br /> "Act" means Chapter 165, Ohio Revised Code, as enacted and amended <br />from time to time pursuant to Section 13 of Article VIII of the Ohio Constitu- <br />tion. <br /> <br /> "Accumulated Interest" means the sum of (i) for each Loan Payment <br />Date after February 1, 1988 and on or before December 1, 1988, the amounts, if <br />any, by which 95% of Net Operating Income is less than $2,967, and (ii) for <br />each Loan Payment Date after December 10 1988 and on or before December 1, <br />1989, the amounts, if any, by which 95% of Net Operating Income is less than <br />$5933. <br /> <br /> "Additional Bonds" means bonds which may be issued under Section 2.04 <br />of this Indenture. <br /> <br /> "Additional Notes" means any nonnegotiable promissory note or notes, <br />in addition to the Pro3ect Note, delivered by the Company to the Trustee in <br />connection with the issuance of Additional Bonds, as provided in the <br />Agreement. <br /> <br /> "Ad3ustment for Interest" means the amount of the increase or <br />decrease, as the case may be, between (i) the sum of all Alternate Loan <br />Payments for Interest made during the previous fiscal year by the Company <br />calculated on the basis of Unaudited Net Operating Income and (ii) the sum of <br />all such payments calculated on,the basis of Audited Net Operating Income. <br />The Ad3ustment for Interest shall be calculated within sixty days of the end <br />of the Company's fiscal year by an independent certified public accountant who <br />shall certify to the Trustee the accuracy of that calculations. <br /> <br /> "Ad3ustment for Principal" means the amount of the increase or <br />decrease, as the case may be, between (i) the sum of all Alternate Loan <br />Payments for Principal made during the previous fiscal year by the Company <br />calculated on the basis of Unaudited Net Operating Income and (ii) the sum of <br />all such payments calculated on the basis of Audited Net Operating Income. <br />The Ad3ustment for Principal shall be calculated within sixty days of the end <br />of the Company's fiscal year by an independent certified public accountant who <br />shall certify to the Trustee the accuracy of that calculation. <br /> <br />-2- <br /> <br /> <br />
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