Orange County NC Website
Browse       Search
"Restricted Yield" means a "yield," ujithin the meaning of Treas. Regs. Secs. <br />1.103-13(c}, -13(d), 1.148-9T(a), or any successor or other provision that may be <br />applicable, not in excess of a "yield" equal to %. <br />"Special Counsel" means such attorney or firm of attorneys nationally <br />recognized on the subject of mu~ucipal obligations as may be selected by the <br />County and approved by the Trustee {which approval will not be unreasonably <br />withheld). <br />"State" means the State of North Carolina. <br />"Term Certificates" means any Certificates (including the 2006A <br />Certificates maturing April 1, 2026) that are subject to mandatory redemption <br />pursuant to sinking field requirements. <br />"Trust Agreement" means this Trust Agreement, as it may be duly amended <br />or supplemented. <br />"Trustee" means the bank or trust company from time to time serving as <br />trustee under this Trust Agreement, uThether the original or a successor Trustee. <br />Rules of Construction. Unless the context otherwise requires, <br />(a) an accounting term not otherwise defined leas the meaning assigned to <br />it in accordance with generally accepted accounting principles; <br />(b) unless otherwise indicated, references to Articles, Sections and <br />Exhibits are to the Articles, Sections and Exhibits of this Trust Agreement; <br />(c) words importing the singular uJill include the plural and vice versa <br />and words importing the masculine gender will include the feminine and neuter <br />genders as urell. <br />(d) the headings and Table of Contents are solely for convenience of <br />reference and will not constitute a part of this Trust Agreement nor will they affect <br />its meanings, constn~ction or effect; <br />(e) words importing the prepayment or calling for prepayment of <br />Certificates will not be deemed to refer to or connote the payment of Certificates at <br />their stated maturity; and <br />J3862v2 42 <br />