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“DTC” means The Depository Trust Company (a limited purpose trust company), Brooklyn, New
York, and its successors or assigns.
“DTC Participant” means any participant contracting with DTC under its book-entry system and
includes securities brokers and dealers, banks and trust companies and clearing corporations.
“Eligible Investments” means any of the following investments which mature (or are redeemable
without penalty) at such time or times as to enable timely disbursements to be made from the fund in which
such investment is held or allocated in accordance with the terms of the Indenture:
(a) Government Obligations; or
(b) shares or units in any money market mutual fund rated at the time of investment
“Aaa-mf” by Moody’s (or the equivalent Highest Rating Category given by the Rating Agency for
that Rating Category) that invest substantially in Government Obligations, including mutual funds
of the Trustee or its affiliates or for which the Trustee or an affiliate thereof serves as investment
advisor or provides other services to such mutual fund and receives reasonable compensation
therefor that are registered with the Securities and Exchange Commission and which meet the
requirements of Rule 2(a)(7) of the Investment Company Act of 1940, as amended, which may be
administered by the Trustee or its affiliates.
The term “Eligible Investments” shall not include the following: (1) any investment with a final
maturity or any agreement with a term ending later than the earlier of (i) the current Mandatory Tender
Date in effect at the time of investment or (ii) the Maturity Date; (2) any interest only or principal only
stripped security; and (3) any investment which may be prepaid or called at a price less than its purchase
price prior to stated maturity.
“Event of Default” means any of the events described as an Event of Default in the Indenture or
the Loan Agreement.
“Extension Payment” means the amount due, if any, in connection with the change or extension of
the Mandatory Tender Date pursuant to the Indenture, and (a) which shall be determined by a Cash Flow
Projection approved in writing by the Rating Agency and (b) must consist of Available Money.
“Extraordinary Services” and “Extraordinary Expenses” mean all services rendered and all
reasonable expenses properly incurred by the Trustee under the Indenture, other than Ordinary Services and
Ordinary Expenses. Extraordinary Services and Extraordinary Expenses shall specifically include services
rendered or expenses incurred by the Trustee in connection with, or in contemplation of, an Event of
Default.
“Favorable Opinion of Bond Counsel” means an opinion of Bond Counsel that the action proposed
will not, in and of itself, cause interest on the Bonds to become includable in gross income of the Holders
thereof.
“Federal Investor Limited Partner” means USA Institutional Stuart Gardens I LLC, and its
successors and/or assigns.
“FHA” means the Federal Housing Administration.
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