81-144 Ordinance - Laserfiche WebLink

Home Browse Search

? "Person" means a natural person, firm, association, corpora- tion or a public body. "Pledged Receipts" means the aggregate of the following: (a) funds peid to the Trustee under either of the Letters of Credit, (b) the amount of the proceeds of the sale by the Issuer of the Project Bonds equal to capitalized interest (if any) and interest (if any) accrued on the Project Bonds to the date of delivery of the Project Bonds to the Original Purchaser, (c) funds paid by the Company which have been held by the Trustee in the Bond Fund for at least 91 consecutive days during which no Act of Bankruptcy shall have occurred, (d) funds transferred from the Construction Fund to the Bond Fund upon completion of the Project and held therein by"the Trustee for at least 91 consecutive days during which no Act of Bankruptcy shall have occurred, and (e) funds derived from the investment of funds which shall then constitute Pledged Receipts under clause (a), (b), (c) or (d) above. "Act of Bankruptcy" means the filing of a petition in bankruptcy by or against the Company under the United States Bankruptcy Code. "Principal Letter of Credit" means the Irrevocable Letter of Credit issued by the Bank in favor of the Trustee at the request and for the account of the Company, substantially in the form of Exhibit A attached to the Indenture, as the same may be duly amended or supple- mented in accordance with the provisions thereof. "Project" means the building constructed on the Project Site and the Project Facilities, as defined in the Agreement, together consti- tuting a"project" as defined in the Act. "Project Bonds" means the $3,000,000 City of North Olmsted, Ohio Industrial Development Revenue Bonds suthorized in Section 3 hereof. 11Project Purposes" means any and all purposes permitted by the Act for use in the cable television business including k*ithout limita- tion acquiring, constructing, improving, furnishing and equipping a commercial facility together with such related and incidental uses, or such subsequent purpose or purposes as may be approved by the Issuer. "Registered Bonds" means Bonds registered in the name of the holder, including coupon Bonds registered as to principal (except to bearer) and fully registered Bonds; and "fully registered Bonds" means Bonds without coupons registered as to both principal and interest. "Security Agreement" means the Security Agreement between the Company, the Bank and the Trustee, dated as of December 15, 1981, as it may from time to time be amended in accordance with the provisions thereof. "State" means the State of Ohio. BR-6