PRILIMINARY OFFIC STATEMENT 11-15-2001 44.

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"Dated Date" means in the case of Series 2001 Bonds,their Date of Issuance,and in the case of any Series of Additional Bonds, the date on which interest is deemed to first commence accruing, as established in the Supplemental Indenture authorizing the Series. "Date of Issuance"means,with respect to any Series of Bonds,the date on which all Bonds of the Series are first issued are delivered to the Original Purchaser thereof. "Debt Service Coverage Ratio" means for anv or all Series of Bonds and for any period the ratio of Net Revenues Available for Debt Service to the actual Debt Service Requirement for any or all Series of Bonds. "Debt Service Requirement" means, with respect to any period, the aggregate principal and interest due on Indebtedness, including amounts due with respect to sinking fund or similar scheduled payments. "Debt Service Reserve Fund"means the fund so named created in Section 4.01 of the Indenture. "Debt Service Reserve Requirement" means as of any date, the lesser of the maximum amount of principal of and interest on the Senior Bonds payable in any remaining Bond Year, 10%of the proceeds(par value less original issue discount,if any)received from the issuance and sale of the Senior Bonds, 125%of the Average Annual Debt Service of the Senior Bonds,or some lesser amount. The Initial Senior Debt Service Reserve Requirement is $579,438*. "Default" means any event or condition, which, with the passage of time, notice or both, will constitute an Event of Default. "Deposit Date"means the date on which the Monthly Net Project Revenues and any Tax Increment Revenues required to be deposited under Section 5.01 of the Indenture are so deposited. "Depository" means The Depository Trust Company in New York, New York, its successors or assigns, or any other person who shall be a Holder of all Bonds of a single Series,directly or indirectly for the benefit of Beneficial Owners,and approved by the City and Original Purchaser for the Series to act as the Depository;provided that any Depository shall be registered or qualified as a"clearing agency"within the meaning of Section 17A of the Securities Exchange Act, as amended. "Determination of Taxability" means the receipt by the Trustee of a statutory notice of deficiency by the Internal Revenue Service, a ruling from the National Office of the Internal Revenue Service,or a final decision of a court of competent jurisdiction which holds in effect that interest payable on the Tax-Exempt Bonds is includable for federal income tax purposes in the gross income of a Bondholder because of any act or omission of the Borrower (or any successor or transferee) or of the Trustee; provided, however, that the