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City of Orono. Minnesota Senior Housing Revenue Bonds (Orono Woods Apartment <br /> Project), Series 2001A. <br /> "Series 2001 B Bonds"means the$210,000*in aggregate principal amount of the City <br /> of Orono, Minnesota Senior Housing Revenue Bonds (Orono Woods Apartment Project), <br /> Taxable Series 2001B. <br /> "Series 2001 Tax-Exempt Bonds" means the Series 2001A Bonds and the <br /> Subordinate Bonds. <br /> "Short-Term Indebtedness"means any unsecured Indebtedness incurred,assumed or <br /> guaranteed by the Borrower maturing not more than twelve months after it is incurred, but <br /> shall not include Interim Indebtedness, trade accounts payable, accrued payroll or payroll <br /> taxes. <br /> "Sole Member" means Wedurn Foundation, a Minnesota nonprofit corporation and <br /> 501(c)(3) Organization. <br /> "Special Record Date" for the payment of any Defaulted Interest (as defined in <br /> Section 2.05 of the Indenture) on fully registered Bonds means a date fixed by the Trustee <br /> pursuant to such Section 2.05. <br /> "State" means the State of Minnesota. <br /> "Subordinate Bonds" means the $250,000* in aggregate principal amount of its <br /> Senior Housing Revenue Bonds (Orono Woods Apartment Project), Subordinate Series <br /> 2001C. <br /> "Subordinate Debt"means the Subordinated Series 1999 Note and any Subordinated <br /> Additional Debt secured equally and ratably on parity with any other Subordinated Debt. <br /> "Subordinate Debt Service Account"means the fund so named under the Bond Fund <br /> created in Section 4.01 of the Indenture. <br /> "Subordinate Mortgage" means the Subordinate Combination Mortgage Security <br /> Agreement,Fixture Financing Statement and Assignment of Rents and Leases, dated as of <br /> November 1,2001.from the Borrower to the City and as assigned to the Trustee as security <br /> for the Subordinate Bonds. <br /> "Subordinated Additional Debt" means any debt incurred by the Borrower with the <br /> consent of a Majority of Holders that, so long as any Senior Indebtedness is outstanding, is <br /> entitled to be paid solely on parity with the Subordinate Bonds from Net Revenues Available <br /> for Subordinated Debt Service, or which is subordinate in right of payment to the <br /> Subordinate Bonds or any other Subordinated Additional Debt. <br />