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"Bond Register" means the register or other books maintained <br />by the Registrar for registration, transfer and exchange of the <br />Bonds. <br />"Bond Service Charges" means for any period or payable at <br />any time, the principal of, premium, if any, and interest on the <br />Bonds for that period or payable at that time whether due at <br />maturity or upon acceleration or redemption. <br />"Bondholder" means, as to any Bond, the person in whose name <br />such Bond is registered on the Bond Register. <br />"Bonds" means the Project Bonds and any Additional Bonds. <br />"Borrower" means Robert Smigel, his heirs, executors, <br />administrators, successors and assigns, as provided in the Loan <br />Agreement <br />"Business Day" means a day of the year other than a Saturday <br />or Sunday on which commercial banks located in the cities in <br />which the principal corporate trust office of the Trustee and the <br />principal office of the Letter of Credit Bank are located are not <br />required or authorized to remain closed and on which the New York <br />Stock Exchange is not closed. <br />"Closing Date" means, with respect to any series of Bonds, <br />the date of delivery of and payment for such series of Bonds. <br />"Clerk" means the Clerk of the City Council of the Issuer. <br />"Code" means the Internal Revenue Code of 1986, as from <br />time to time. References to the Code and sections of the Code <br />shall include applicable regulations and proposed regulations <br />thereunder (and under the related provisions of the Internal <br />Revenue Code of 1954, as ) and any successor provisions to such <br />sections, regulations or proposed regulations. <br />"Executive Officer" or "Executive" means the Mayor of the <br />Issuer. <br />"Fiscal Officer" means the Director of Finance of the <br />Issuer. <br />"Five Year Interest Rate" means (a) the rate of interest per <br />annum determined by the Remarketing Agent, on the Interest Rate <br />Determination Date immediately preceding the applicable Interest <br />Rate Adjustment Date, to be the interest rate necessary, during <br />the Interest Rate Period commencing on the applicable Interest <br />Rate Adjustment Date and ending on the January 31 or July 31 <br />nearest to but not later than the date which is five years from <br />the Interest Rate Adjustment Date, in the judgment of the <br />Remarketing Agent (taking into consideration current transactions <br />and comparable securities with which the Remarketing Agent is <br />involved or of which it is aware and prevailing financial market <br />- 3 - <br />