Indenture of Trust (1996) - Laserfiche WebLink

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as originally executed and as it may from time to time be supplemented, modified or amended in accordance with the terms thereof and of this Indenture. "Lease Payments"means the aggregate amount of all the payments required to be paid by each Member pursuant to Section 4.3 of its respective Lease Agreement. "Leased Premises" means the real property and improvements leased by the Authority to each Member pursuant to its respective Lease Agreement. "Members" means the Cities of Brea, Buena Park, Fullerton, Garden Grove, Orange, Santa Ana, Seal Beach, Stanton and Tustin. "Moody's"means Moody's Investors Service,New York,New York,or its successors. "Municipal Bond Insurance Policy" means the municipal bond insurance policy issued by the Municipal Bond Insurer insuring the payment,when due, of the principal of and interest on the Bonds. "Municipal Bond Insurer"means the MBIA Insurance Corporation. "Net Proceeds" means amounts derived from any policy of casualty insurance or title insurance with respect to the Leased Premises, or the proceeds of any taking of the Leased Premises or any portion thereof in eminent domain proceedings (including sale under threat of such proceedings), to the extent remaining after payment therefrom of all expenses incurred in the collection and administration thereof. "Office" means, with respect to the Trustee, the corporate trust office of the Trustee at 515 South Flower Street, Suite 2700, Los Angeles, CA 90071; provided, however, that for the purposes of maintenance of the Registration Books and presentation of Bonds for transfer, exchange or payment such term shall mean the office of the Trustee at which it conducts its corporate agency business, or at such other or additional offices as may be specified by the Trustee in writing to the Authority and the Members. "Original Purchaser" means Stone &Youngberg LLC, as original purchaser of the Bonds upon their delivery by the Trustee on the Closing Date. "Outstanding", when used as of any particular time with reference to Bonds, means (subject to the provisions of Section 11.09) all Bonds theretofore, or thereupon being, authenticated and delivered by the Trustee under this Indenture except: (a) Bonds theretofore canceled by the Trustee or surrendered to the Trustee for cancellation; (b) Bonds with respect to which all liability of the Authority shall have been discharged in accordance with Section 10.02, including Bonds (or portions thereof) described in Section 11.10; and (c) Bonds for the transfer or exchange of or in lieu of or in substitution for which other Bonds shall have been authenticated and delivered by the Trustee pursuant to this Indenture. "Owner", whenever used herein with respect to a Bond, means the person in whose name the ownership of such Bond is registered on the Registration Books. "Participating Underwriter" shall have the meaning ascribed thereto in the Authority Continuing Disclosure Certificate. "Permitted Investments" means the following, but only to the extent that the same are acquired at Fair Market Value: -6-