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(b) proceeds from the sale of GNMA Securities provided by the FHA Lender;
(c) amounts advanced by FHA Lender with respect to the FHA Lender Funds
deposited directly with the Trustee by the FHA Lender;
(d) proceeds of the Bridge Loan;
(e) any other amounts, including the proceeds of refunding bonds, for which the
Trustee has received an opinion of counsel to the effect that the use of such amounts to make
payments on the Bonds would not violate Section 362(a) of the Bankruptcy Code (or that relief
from the automatic stay provisions of such Section 362(a) would be available from the bankruptcy
court) or be avoidable as preferential payments under Section 547 of the Bankruptcy Code should
the Issuer or the Borrower become a debtor in proceedings commenced under the Bankruptcy Code;
(f) the Underwriter’s Advance;
(g) the proceeds of any letter of credit;
(h) remarketing proceeds received from the Remarketing Agent or any purchaser of
Bonds, including any amount paid by the Remarketing Agent to the Trustee in excess of the
remarketing price of the Bonds (other than funds provided by the Borrower, the Issuer, any Affiliate
of either the Borrower or the Issuer); or
(i) investment earnings derived from the investment of money described in subsection
(a), (b), (c), (d), (e), (f), (g), or (h) above.
“Bankruptcy Code” means Title 11 of the United States Code entitled “Bankruptcy,” as in effect
now and in the future, or any successor statute.
“Bond Counsel” means Williams Mullen, and any other firm of nationally recognized bond counsel
experienced in tax-exempt bond financing selected by the Issuer and acceptable to the Borrower.
“Bond Debt Service Charges” means, for any period or payable at any time, the principal of and
interest on the Bonds for that period or payable at that time whether due at maturity or upon redemption,
Mandatory Tender or acceleration.
“Bond Fund” means the Bond Fund created in the Indenture.
“Bond Payment Date” means each Interest Payment Date and any other date Bond Debt Service
Charges on the Bonds are due, whether at maturity, upon redemption, Mandatory Tender or acceleration or
otherwise.
“Bond Purchase Agreement” means the Bond Purchase Agreement, dated ________ __, 2026,
among the Underwriter, the Issuer, and the Borrower.
“Bond Resolution” means that certain resolution authorizing the issuance of the Bonds to finance
the Project, adopted by the Issuer on June 16, 2026.
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