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"Interest Period Reset Date" means the date on which the <br />interest rate on the Project Bonds converts from the Interest <br />Rate Mode applicable to the Project Bonds prior to such date to a <br />new Interest Rate Mode. An Interest Period Reset Date shall be <br />the first day of the month. <br />"Interest Rate Adjustment Date" means any date on which the <br />interest rate on the Project Bonds may be adjusted, either as the <br />result of the conversion of the interest rate on the Project <br />Bonds to a different Interest Rate Mode or by adjustment of the <br />interest rate on the Project Bonds within the applicable Interest <br />Rate Mode. An Interest Rate Adjustment Date shall be the first <br />day of a month unless the Project Bonds bear interest at the <br />Weekly Interest Rate, in which case the Interest Rate Adjustment <br />Date shall be Thursday of each week; provided that upon any <br />conversion to the Weekly Interest Rate from a different Interest <br />Rate Mode, the first Interest Rate Adjustment Date shall be the <br />first Business Day of a month. <br />"Interest Rate Determination Date" means (i) with respect to <br />the Three Month Interest Rate, the Six Month Interest Rate, the <br />One Year Interest Rate, the Five Year Interest Rate and the Fixed <br />Interest Rate, the tenth Business Day preceding an Interest Rate <br />Adjustment Date, (ii) with respect to the One Month Interest <br />Rate, the seventh Business Day preceding an Interest Rate <br />Adjustment Date, and (iii) with respect to the Weekly Interest <br />Rate, not later than 2:00 p.m. according to local time at the <br />principal corporate trust office of the Trustee on Wednesday of <br />each week, or the next preceding Business Day if such Wednesday <br />is not a Business Day; provided that upon any conversion to the <br />Weekly Interest Rate from a different Interest Rate Mode, the <br />first Interest Rate Determination Date shall mean not later than <br />2:00 p.m. according to the local time at the principal corporate <br />trust office of the Trustee on the Business Day preceding the <br />Interest Period Reset Date. <br />"Interest Rate Mode" means any of those modes of interest <br />with respect to the Project Bonds permitted by the Indenture, <br />specifically, the Weekly Interest Rate, the One Month Interest <br />Rate, the Three Month Interest Rate, the Six Month Interest Rate, <br />the One Year Interest Rate, the Five Year Interest Rate and the <br />Fixed Interest Rate. <br />"Interest Rate Period" means that period of time for which <br />the interest rate with respect to the Project Bonds has been <br />determined by the Remarketing Agent or otherwise as provided in <br />the definition of the applicable Interest Rate Mode, commencing <br />on the applicable Interest Rate Adjustment Date, and terminating <br />on the day immediately preceding the next Interest Rate <br />Adjustment Date. <br />"Issuer" means the City of North Olmsted, Ohio, a city and <br />political subdivision duly organized and validly existing under <br />the laws of the State. <br />- 5 - <br />