OTHER-2021-022 Trust Agreement - Laserfiche WebLink

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"Pledged Sites" has the meaning ascribed to that term in the Deed of Trust, and generally includes the real property upon which the Pledged Facilities are located (or are to be constructed) and associated property. "Redemption Account" means the account of that name in the Payment Fund established in Section 3.04. "Principal Account" means the account of that name in the Payment Fund established in Section 3.04. "Project" has the meaning ascribed to that term in the recitals to this Agreement. "Project Costs" means all costs of carrying-out of the Project, including the costs of the design, planning, constructing, acquiring, installing, equipping of improvements to the Pledged Facilities, all as determine d in accordance with generally accepted accounting principles and that will not adversely affect the exclusion from gross income for federal income tax purposes of interest on Bonds to which it is intended that interest will be entitled. "Project Costs" include (a) sums required to reimburse the County or its agents for advances made for any costs otherwise described in this definition, (b) interest during the period of acquisition and construction of improvements and for up to six months thereafter, and (c) all Financing Costs and Refinancing Costs. "Project Fund" means the Orange County 2021 Project Fund established in Section 3.01. "Record Date" means the end of the calendar day on the 15th day of the month (whether or not a Business Day) preceding a Payment Date. "Refinancing Costs" means all costs related to the payment in full of the County obligations to pay principal and interest under the County obligations described in Exhibit A. Refinancing Costs are a subset of Project Costs. "Restricted Yield" means an annual "yield," within the meaning of Treas. Regs. Secs. 1.103-13(c), -13(d), 1.148-9T(a), not in excess of an annual "yield" equal to 69