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Project <br /> The term "Project" means the improvements described in Exhibit B hereto. <br /> Qualified Reserve Instrument <br /> The term "Qualified Reserve Instrument" means a policy of insurance, a surety <br /> bond, a letter of credit or other comparable credit facility meeting the requirements of <br /> Section 5.03(c). <br /> Rebate Fund <br /> The term "Rebate Fund" shall have the meaning given to such term in Section <br /> 6.04. <br /> Record Date <br /> The term "Record Date" means the fifteenth day of the month preceding an <br /> Interest Payment Date, whether or not such day is a Business Day. <br /> Redemption Account <br /> The term "Redemption Account" shall have the meaning given to such term in <br /> Section 5.03. <br /> Representation Letter <br /> The term "Representation Letter" means the Letter of Representations from the <br /> Authority and the Trustee to DTC in which the Authority and the Trustee make certain <br /> representations to DTC with respect to any Series of Bonds, the payment thereof and <br /> delivery of notices with respect thereto or any comparable letter to a successor depository to <br /> DTC for any Series of Bonds. <br /> Reserve Account <br /> The term "Reserve Account" shall have the meaning given to such term in <br /> Section 5.03. <br /> Reserve Requirement <br /> The term "Reserve Requirement" means, as of any calculation date, an amount <br /> equal to the least of (i) 10% of the proceeds (within the meaning of Section 148 of the Code) <br /> of the Bonds, (ii) 125% of Average Annual Debt Service, or (iii) Maximum Annual Debt <br /> Service. <br /> cn1-63221.5 15 <br />