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13068670v2 <br /> <br /> <br />8 <br /> <br />minor defects, irregularities, encumbrances, easements, rights-of-way and clouds on title as <br />normally exist with respect to properties similar in character to the Project Facilities and as do not <br />in the aggregate, in the opinion of Independent Counsel, materially impair the property affected <br />thereby for the purposes for which it was acquired or is held by the Corporation, (iv) the Mortgage, <br />(v) any mortgage lien subordinate to the lien of the Mortgage to be granted by the Corporation <br />after the date of issuance of the Bonds in connection with any indebtedness for borrowed money, <br />provided, however, that the terms of any such indebtedness shall require notice of any default <br />thereunder to be provided to the Trustee and shall provide the Trustee with an opportunity to cure <br />any such default; and (vi) those additional encumbrances identified in Exhibit B to the Mortgage. <br />“Predecessor Bonds” of any particular Bond means every previous Bond evidencing all or <br />a portion of the same debt as that evidenced by such particular Bond, and for purposes of this <br />definition, any Bond authenticated and delivered under Section 2.07 hereof in lieu of a lost, <br />destroyed or stolen Bond shall be deemed to evidence the same debt as the lost, destroyed or stolen <br />Bond. <br />“Project” means the Project described in Section 1.03 hereof. <br />“Project Buildings” shall have the meaning set forth in the Loan Agreement. <br />“Project Equipment” shall have the meaning set forth in the Loan Agreement. <br />“Project Facilities” shall have the meaning set forth in the Loan Agreement. <br />“Project Fund” means the Project Fund established under Section 4.02 hereof. <br />“Qualified Investments” means investments authorized by the Act and described in Section <br />5.04 of this Indenture. <br />“Redeem” or “redemption” means and includes “prepay” or “prepayment” as the case may <br />be. <br />“Regular Record Date” for the interest payable on any interest payment date on the fully <br />registered Bonds of any series means the date specified in the provisions of this Indenture creating <br />such series. <br />“Reserve Fund” means the Reserve Fund established under Section 5.03 hereof. <br />“Reserve Requirement” means an amount equal to $____________. <br />“Responsible Officer” when used with respect to the Trustee, any officer within the <br />corporate trust department of the trustee, including any vice president, assistant vice president, <br />assistant secretary, assistance treasurer, trust officer or any other officer of the trustee who <br />customarily performs functions similar to those performed by the persons who at the time shall be <br />such officers, respectively, or to whom any corporate trust matter is referred because of such <br />person’s knowledge of and familiarity with the particular subject and who shall have direct <br />responsibility for the administration of this Indenture.