11-14-01 1. INDENTURE OF TRUST - Laserfiche WebLink

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"Non-Cash Expenses"shall mean for any period,depreciation,amortization,bad debt expense and all other items properly reportable under generally accepted accounting principles for the period as an expense but for which no corresponding outlay of cash or property is required in any period. "Operating Expenses"means for any period,as determined on a cash rather than on an accrual basis (except as otherwise may be provided herein),(i)all non-capitalized expenses incurred in the operation or maintenance of the Project Facilities by or on behalf of the Borrower, including, but not limited to, administrative costs,all-the Subordinate Management Fees Fee,utility charges and routine maintenance or repair costs(whether or not such expenses are paid from the Surplus Fund or the Repair and Replacement Fund), (ii)amounts due and payable to the Trustee or the City as fees or reimbursement of expenses under the terms of this Indenture,the Loan Agreement,the Mortgage or the Subordinate Mortgage,(iii)amounts required to be deposited in the Taxes and Insurance Fund(but not amounts required to be deposited in the Repair and Replacement Fund),and(iv)principal paid and accrued interest on Short-Term Indebtedness(as defined in the Loan Agreement),excluding(a)items otherwise constituting Operating Expenses paid from the Taxes and Insurance Fund,(b)interest due and payable or accrued on outstanding Bonds,(b)Non-Cash Expenses,(c)any loss or expense resulting from or related to any extraordinary and nonrecurring items,(d) any losses or expenses related to the sale of assets, the proceeds of which sale are not included in Project Revenues,and(e)any Subordinated Management Fees. "Operating Reserve Fund" means the fund established under Section 5.11 of this Indenture. "Operating Reserve Requirement"means an amount equal to$250,000,which amount may be funded by cash,a bank letter of credit,or any combination thereof. "Opinion of Counsel" means a written opinion of counsel (who need not be Independent counsel unless so specified)appointed by the Borrower or the City and acceptable to the Trustee or appointed by the Trustee. If and to the extent required by the provisions of Section 1.02, each Opinion of Counsel shall include the statements provided for in said Section 1.02. "Optional Redemption Fund" means the fund so named in Section 4.01. "Original Purchaser" means, with respect to the Series 2001 Bonds, Miller Johnson Steichen Kinnard,Inc.,and with respect to any Additional Bonds,the Original Purchaser identified in a Supplemental Indenture for the Additional Bonds. "Ordinary Trustee Fees and Expenses"means all fees and expenses chargeable by the Trustee for its services hereunder rendered;exclusive of fees and expenses incurred as a result of a Default or an Event of Default. "Outstanding" when used as of any particular time with reference to Bonds of any Series (and whether or not the term is capitalized) means (subject to the provisions of Section 9.03 of this Indenture pertaining to any Bonds held by the City and the Borrower)all Bonds of the Series theretofore authenticated and delivered by the Trustee under the Indenture or any Supplemental Indenture except: (i)Bonds or the Series theretofore canceled by the Trustee or surrendered to the Trustee for cancellation; (ii)Bonds of the Series for the payment or redemption of which funds or direct obligations of or obligations fully guaranteed by the United States of America in the necessary amount shall have theretofore been deposited with the Trustee(whether upon or prior to the maturity or the redemption date of such Bonds),provided that if such - 11 -