SA 3 - RESO - TAX ALLOCATION BONDS

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amount equal to any deficiencies which may exist from time to time in the Interest Account, the Principal Account or the Term Bonds Sinking Account for the purpose of making payments required pursuant to Section 5,03(d); and (e) prior written notice is given to the Trustee before the effective date of any such Qualified Reserve Account Credit Instrument. "Rebate Fund" shall mean the Rebate Fund established pursuant to Section 6.11 hereof "Rebate Instructions" shall mean those calculations and directions required to be delivered to the Trustee by the Agency pursuant to the Tax Certificate, "Rebate Requirement" shall mean the Rebate Requirement defined in the Tax Certificate. "Recognized Obligation Payment Schedule" or "BOPS" shall mean a Recognized Obligation Payment Schedule, setting forth the minimum payment amounts and due dates of payments required by enforceable obligations for each fiscal year as provided in subdivision (o) of Section 34177 of the Dissolution Act, each prepared and approved from time to time pursuant to the Dissolution Act. "Redevelopment Obligation Retirement Fund" shall mean the fund by that name established pursuant to Section 34170.5(a) of the Law and administered by the Agency. "Redevelopment Plan" shall mean the [Amended and Restated Redevelopment Plan for the Santa Ana Merged Redevelopment Project Area], together with any amendments to such redevelopment plan duly authorized pursuant to the Law. "Redevelopment Property Tax Trust Fund" shall mean the fund by that name established pursuant to Section 34170.5(b) of the Law and administered by the County Auditor - Controller. "Refunded Bonds" shall have the meaning set forth in the whereas clauses above, "Regulations" shall mean temporary and permanent regulations promulgated or applicable under Section 103 and all related provisions of the Code. "Related Documents" shall mean the Indenture and any other document executed by the Agency in connection with the issuance of the Series 2016 Bonds including, without limitation, the Series 2016 Bonds issued hereunder. "Reserve Account" shall mean the account maintained within the Tax Increment Fund pursuant to Section 5.03 of the Indenture. "Reserve Account Requirement" shall mean as of the date of any calculation, with respect to all Outstanding Bonds an amount equal to the lesser of (i) the Maximum Annual Debt Service attributable to the Outstanding Bonds or (ii) 125% of Average Annual Debt Service attributable to the Outstanding Bonds; provided however, that the Reserve Account Requirement when issuing a new Series of Bonds shall be the lesser of (i) or (ii) above, but limited to the 12 3 -30