85-019 Ordinance - Laserfiche WebLink

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"Interest Payment Date" or "interest pa_yment date" means, with respect to the Note, the last business day preceding the first day of each calendar month commencing March 29, 1985, and, with respect to the Bonds, the first day of each March and September, commencing September 1, 1985. "Interest Rate for Advances" means 21$ per annum, but at no time shall this rate exceed the maximum interest rate allowed by law. "Issuer" means the City of North Olmsted, Ohio. "Issuing Authority" means the City Council of the I ss uer , "Mortgage" means the Open-End Mortgage and Security Agreement dated as of March 1, 1985, whereby the Borrower has granted to the Trustee, as security for payment of the Note and the Bonds, a mortgage on and security interest in the Project and the Project Site, and any permitted amendments or supplements thereto, "Note" means the Promissory Note, in the form attached as Exhibit C to the Loan Agreement, issued by the Borrower to the Issuer concurrent with the delivery of the Loan Agreement, "Note Payments" means any and all payments of principal of and interest and prepayment premiums on the Note. "Original Purchaser" means The Cincinnati Insurance Company, an Oh?io rporation. "Outstanding?Bond" or "Bond outstanding" or "outstanding as applied to the Bonds, means, as of any date, any Bond which has been authenticated and delivered, or is then being delivered, by the Trustee under the Indenture except: (a) Any B ond surrendered and replaced upon exchange or transfer, or cancelled because of payment or redemp tion, at or prior to such date; (b) Any Bond for the payment, redemption or purchase for cancellation of which sufficient moneys have been deposited prior to such date with the Trustee (whether upon or prior to the maturity or redemption date of any such Bonds), or which is deemed to have been paid and discharged pursuant to the provisions of Sec.tion 8.02 of the Indenture; provided that if such Bond is to be redeemec7 prior to the maturity date thereof, notice of such redemption shall have been given or arrangements satisfactory to the Trustee shall have been made therefor, or waiver of such notice satisfactory in form to the Trustee shall have been filed with the Trustee; and (c) A ny B ond in lieu of which another has been authenticated (or payment, when due, of which is made without replacement) under Section 2.04 of the I ndenture: and also except that (d) For the purpose of determining whether the holders of the requisite principal amount of Bonds have made or concurred in any notice, request, demand, - 4 -