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99 <br /> "Outstanding," when used with reference to Bonds, or "Bonds Outstanding," <br /> means all Bonds which have been authenticated and delivered by the Trustee under <br /> this Agreement and not yet paid, except the following: <br /> (a) Bonds canceled or purchased by or delivered to the Trustee for <br /> cancellation; <br /> (b) Bonds that have become due (at maturity or on redemption, <br /> acceleration or otherwise) and for the payment, including interest accrued to the <br /> due date, of which the Trustee holds sufficient moneys; <br /> (c) Bonds deemed paid in accordance with Article XI; and <br /> (d) Bonds in lieu of which others have been authenticated under Section <br /> 14.05 (relating to registration and exchange of Bonds) or Section 14.06 (relating to <br /> mutilated, lost, stolen, destroyed or undelivered Bonds). <br /> "Owner," when used with reference to a Bond, means the person in whose <br /> name that Bond is registered on the registration books maintained by the Trustee. <br /> "Payment Date" means, with respect to the 2021 Bonds, each June 1 and <br /> December 1 beginning December 1, 2021, and with respect to any Additional Bonds <br /> means the dates specified for principal and interest payments with respect to those <br /> Additional Bonds. <br /> "Payment Fund" means the Orange County 2021 Bond Payment Fund <br /> established in Section 3.04. <br /> "Permitted Encumbrances" means, as of any particular time, (a) the <br /> encumbrances shown on Exhibit C to the Deed of Trust, (b) liens for taxes and <br /> assessments not then delinquent, or liens which may remain unpaid pursuant to <br /> Section 5.14, (c) the Deed of Trust, (d) any lien or encumbrance made by its terms <br /> expressly subordinate to the lien of the Deed of Trust, and (e) easements and rights- <br /> of-way granted by the County pursuant to Section 1-6 of the Deed of Trust. <br /> "Pledged Facilities" has the meaning ascribed to that term in the Deed of <br /> Trust, and generally includes the County's Whitted Building, its Blackwood Farm <br /> Park, <br /> 68 <br />