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credit of the Trustee, and provided further that the Trustee may restrict such investment if required to keep moneys available for the purposes of the Indenture. (12) Shares in a State of California common law trust established pursuant to Title 1, Division 7, Chapter 5 of the California Government Code which invests exclusively in investments permitted by Section 53601 of Title 5, Division 2, Chapter h of the California Government Code, as it may be amended. "Principal Account" shall mean the account maintained within the Tax Increment Fund pursuant to Section 5,03 of the Indenture. "Principal Installment" shall mean, with respect to any Principal Payment Date, the principal amount of Outstanding Bonds (including mandatory sinking fund payments) due on such date, if any. "Principal Corporate Trust Office" shall mean the office of the Trustee in Costa Mesa, California, except that with respect to presentation of Bonds for payment, transfer or exchange, such term shall mean the corporate trust office of the Trustee in Wilmington, Delaware, or such other offices as it shall designate from time to time. "Principal Payment Date" shall mean any September 1 on which principal of any Series of Bonds is scheduled to be paid, commencing on September 1, 2017 with respect to the Series 2016 Bonds. "Project Area" shall mean collectively the territory comprising the following redevelopment projects of the Agency: (i) the Bristol Corridor Redevelopment Project, approved by Ordinance enacted by the City Council of the City on ; (ii) the Central City Redevelopment Project, approved by Ordinance No. enacted by the City Council of the City on (iii) the Inner -City Commuter Station Redevelopment Project, approved by Ordinance No. 528 enacted by the City Council of the City on ; the North Harbor Boulevard Redevelopment Project, approved by Ordinance enacted by the City Council of the City on ; the South Harbor Boulevard/Fairview Street Redevelopment Project, approved by Ordinance enacted by the City Council of the City on ; and the South Main Redevelopment Project, approved by Ordinance enacted by the City Council of the City on ;in each case together with any amendments duly authorized pursuant to the Redevelopment Law. "Qualified Reserve Account Credit Instrument" shall mean (i) the 2016 Reserve Policy or (ii) an irrevocable standby or direct -pay letter of credit or surety bond issued by a commercial bank or insurance company and deposited with the Trustee pursuant to Section 5.03(d) provided that all of the following requirements are met by the Agency at the time of delivery thereof to the Trustee: (a) S &P or Moody's has assigned a long -term credit rating to such bank or insurance company of "A" (without regard to modifier) or higher; (b) such letter of credit or surety bond has a term of at least twelve (12) months; (c) such letter of credit or surety bond has a stated amount at least equal to the portion of the Reserve Account Requirement with respect to which funds are proposed to be released pursuant. to Section 5.03(d); (d) the Trustee is authorized pursuant to the terms of such letter of credit or surety bond to draw therei ider an 3 -29