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

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a1 "Federal Securities"means (a) direct obligations of the United States of America for the payment of which the full faith and credit of the United States of America is pledged; (b) obligations issued by any agency controlled or supervised by and acting as an instrumentality of the United States of America, the payment of the principal of and interest on which is fully guaranteed as full faith and credit obligations of the United States of America (including any securities described in(a)or(b) issued or held in the name of the Trustee in book entry form on the books of the Department of Treasury of the United States of America), which obligations, in either case, are held in the name of the Trustee and are not subject to redemption or purchase prior to maturity at the option of anyone other than the holder; (c) any bonds or other obligations of any state of the United States of America or of any agency, instrumentality or local governmental unit of any such state which are(i)not callable prior to maturity or(ii)as to which irrevocable instructions have been given to the trustee or escrow agent of such bonds or other obligations by the obligor to give due notice of redemption and to call such bonds for redemption on the date or dates specified, and which are rated by Moody's, if the Bonds are rated by Moody's, and S&P, if the Bonds are rated by S&P within the highest rating category and which are secured as to principal, redemption premium, if any, and interest by a fund consisting only of cash or bonds or other obligations of the character described in clause(a) hereof which fund may be applied only to the payment of such principal of and interest and redemption premium, if any, on such bonds or other obligations on the maturity date or dates thereof or the specified redemption date or dates pursuant to such irrevocable instructions, as appropriate; or(d)direct evidences of ownership of proportionate interests in future interest and principal payments on specified obligations described in (a) held by a bank or trust company as custodian, under which the owner of the investment is the real party in interest and has the right to proceed directly and individually against the obligor on the underlying obligations described in (a), and which underlying obligations are not available to satisfy any claim of the custodian or any person claiming through the custodian or to whom the custodian may be obligated. "Fiscal Year"means that period adopted, initially July 1 through June 30, by the Corporation as its annual accounting period. "Improvements" means any additional facilities or additions, extensions, improvements or betterments to the Project, financed in whole or in part by the issuance of a Series of Additional Bonds, which are secured by the Revenues. "Indenture"means this Indenture of Trust dated as of December 1, 1993 between the Corporation and the Trustee, as amended or supplemented from time to time. "Interest Payment Date"means June 1 and December 1 of each year, beginning June 1, 1994. "Mail"means mail, by first-class postage. "Maintenance Reserve Fund" means the fund by that name created in Section 5.03. "Maximum Annual Debt Service" means, as of any date of calculation the highest principal and interest payment requirements with respect to all Bonds for any succeeding Fiscal Year excluding the amount of interest on Bonds payable in such period from the proceeds of such Bonds deposited with the Trustee for such purpose and excluding Bonds for which the Corporation has caused to be escrowed cash or marketable securities for repayment. If any Bonds are subject to mandatory redemption prior to maturity, the term of the amortization of such Bonds will be determined by the related sinking fund schedule. If any Bonds are subject to tender for purchase at the option of the Owner before maturity, the term of the amortization of the Bonds will be deemed to be the remaining years to maturity and principal will be calculated on the basis of level debt service. 5 r;,