Agenda - 11-16-1993 - VIII-A (2)

Browse Search

• trusts, uses and purposes as hereinafter expressed, and the Corporation has agreed and covenanted, and does hereby agree and covenant, with the Trustee for the benefit of the Owners, as follows: ARTICLE I DEFINITIONS AND INTERPRETATIONS Section 1.01. Definitions. The terms defined in this Article I have the meanings provided herein for all purposes of this Indenture, unless the context or use clearly requires otherwise. All capitalized, undefined terms used herein have the meanings ascribed to them in the Contract. "Act"means N.C.G.S. Chapter 55A,as amended, the North Carolina Nonprofit Corporation Act. "Additional Bonds"means any additional obligations issued under Section 2.11. "Authorized Denomination"means(1)$100,000 and integral multiples of$5,000 in excess thereof or(ii) such lesser amount as may be necessary to effect a sinking fund redemption under Section 3.03. "Average Annual Debt Service" means, as of'any calculation date the amount obtained by computing the aggregate amount of annual debt service on the Bonds for the then current and all succeeding Fiscal Years with respect to the Bonds Outstanding at such calculation date and dividing that amount by the number of Fiscal Years to the last maturity of any Bonds Outstanding at such calculation date. "Bond Counsel" means any t firm of nationally recognized bond counsel familiar with the transactions contemplated under this Indenture appointed by the Corporation and acceptable to the Trustee. "Bond Fund" means the trust fund by that name established pursuant to Section 5.02. "Bond Payment Date"means any Interest Payment Date and any other date on which the principal of or interest on the Bonds is to be paid to the Owners thereof, whether on redemption, at maturity or on acceleration of maturity of the Bonds. "Bonds"means the 1993A Bonds, the 1993B Bonds and any Additional Bonds. "Business Day"means any day other than(i) a day on which banking institutions in New York, New York or the cities in which the Trustee, the Paying Agent, or have their respective principal offices are authorized to close or(ii) a day on which the New York Stock Exchange is closed. "Closing Date"means the date of delivery of the 1993A Bonds and the 1993B Bonds to the initial purchaser or purchasers thereof in accordance with this Indenture. "Code" means the Internal Revenue Code of 1986, as amended. Each reference to a section of the Code herein will be deemed to include the United States Treasury Regulations proposed or in effect with respect thereto and applicable to the Bonds or the use of the proceeds thereof "Completion Date"means the date of completion of the construction and equipping of the Project as set forth in Section 4.05. 3