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M.V. Ord. 85-23 <br />3 <br />NOW THEREFORE, BE IT ORDAINED by the Council of <br />Mayfield Village, Ohio, that: <br />Section l. Definitions. In addition to the words and <br />terms defined elsewhere in this Bond Legislation, unless the <br />context or use clearly indicates another meaning or intent: <br />"Act" means Chapter 165, Ohio Revised Code, as enacted <br />and amended from time to time pursuant to Section 13 of Article <br />VIII of the Ohio Constitution. <br />"Additional Bonds" means bonds which may be issued <br />under Section 2.04 of the Indenture. <br />"Additional Notes" means any promissory note or notes, <br />in addition to the Project Note, delivered by the Company to the <br />Trustee in connection with the issuance of Additional Bonds, as <br />provided in the Agreement. <br />"Agreement" means the Loan Agreement, dated as of the <br />same date as the Indenture, between the Issuer and the Company, <br />as amended or supplemented from time to time. <br />"Applicable Rate" means that rate which is equal to 55% <br />of the Base Lending Rate; provided that if the Remarketing Agent <br />is unable to remarket any Project Bond tendered for purchase <br />pursuant to Section 4.07 of the Indenture at the Purchase Price <br />at such percentage, all outstanding Project Bonds shall bear <br />interest at an adjusted percentage of the Base Lending Rate <br />determined by the Remarketing Agent pursuant to Section 4.08(a) <br />of the Indenture and provided further that the percentage of the <br />Base Lending Rate may also be adjusted by the Remarketing Agent <br />on each Interest Payment Date in accordance with Section 4.08(b)