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86-064 Ordinance
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86-064 Ordinance
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1/11/2014 12:50:43 PM
Creation date
1/7/2014 10:56:38 AM
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North Olmsted Legislation
Legislation Number
86-064
Legislation Date
7/15/1986
Year
1986
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? <br />"Pledged Receipts" means (a) the Note Payments, (b) <br />subject to the provisions of Sections 3.04, 4.02 and <br />8.02 of the Indenture with respect to tne Trustee <br />holdinq moneys tor tne benefit of any Bondholder, all <br />other moneys receivea by the Issuer, or the Trustee <br />for the account of the Issuer, in respect of the <br />Aqreement or the Project, except certain expense, <br />reimbursement and indemnity Aayments which are, <br />pursuant to the provisions of the Aqreement, to be <br />made by the Borrowers directly to the Issuer or the <br />Trustee, (c) any moneys on deposit in the Pro]ect <br />Fund, the Bond Fund or the Reserve Fund, and (d) the <br />income and profit from the investment of any moneys <br />while hela in the Project Fund, the Bond Fund or the <br />Reserve Fund; provided that there shall be excluded <br />from Pledged Receipts any amounts paid into the Rebate <br />Fund pursuant to Article V-A of the Indenture. <br />"Principal User" means, with respect to any facilities <br />within the meaning of Section 103(b)(6)(E) of the <br />Cocie, a principal user within the meaning of Section <br />103(b) of the Code. <br />"Project" means the real, personal, or real and <br />personal property, including undivided? interests or <br />other interests therein, iaentified in Exhibit A to <br />the Agreement and Section 2 hereof, or acquired, <br />constructed, installed or equipped as a replacement or <br />substitution therefor or an addition thereto, or as <br />may result from a revision thereof in accordance with <br />tne provisions of the Loan Agreement or the Mortqaqe. <br />"Project Fund" means the tund created by Section 7 <br />hereof. <br />"Project Site" means the real estate and interests in <br />real estate constitutinq the site of the Project, as <br />described in Exhibit B to the Agreement. <br />"Rebate Fund" means the Rebate Fund created in the <br />Section 8(b) hereof. <br />"registered Bonds" or "fully registered Bonds" means <br />Bonds registered in the name of the holder as to both <br />principal and interest. <br />"Related Person" means, when used with reference to <br />the Borrowers, a Principal User or any Substantial <br />User, a related person within the meaninq of Section <br />103(b) of the Code. <br />"Reserve Fund" means <br />Section 8(a) hereof. <br />the Reserve Fund created in <br />-7-
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