10A Action 2008 0602 Attach - Indenture of Trust

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"Reserve Account" means the account by that name established and held by the Trustee pursuant to Section 4.03(c). "Reserve Requirement" means, as of the date of calculation by the Agency, the lesser of (i) the amount of Maximum Annual Debt Service on the Bonds (excluding from the calculation thereof Parity Debt other than Bonds), and (ii) one hundred and twenty five percent (125%) of average Annual Debt Service on the Bonds (excluding from the calculation thereof Parity Debt other than Bonds); provided, that in no event shall the Agency, in connection with the issuance of Bonds pursuant to a Supplemental Indenture, be obligated to deposit an amount in the Reserve Account which is in excess of the amount permitted by the applicable provisions of the Code to be so deposited from the proceeds of tax-exempt bonds without having to restrict the yield of any investment purchased with any portion of such deposit. The Reserve Requirement may be determined collectively with respect to all Bonds, or separately with respect to one or more series of Bonds. "S8~P" means Standard & Poor's Rating Services, a division of The McGraw-Hill Companies, and its successors. "Securities Depositories" means The Depository Trust Company; or, in accordance with then-current guidelines of the Securities and Exchange Commission, such other securities depositaries, or no such depositaries, as the Agency may indicate in a certificate of the Agency delivered to the Trustee. "Series 2008 Bonds" means the $ aggregate principal amount of Redevelopment Agency of the City of San Leandro Alameda County -City of San Leandro Redevelopment Project Tax Allocation Bonds, Series 2008. "Series 2008 Bond Insurance Policy" means the municipal bond insurance policy issued by the Series 2008 Insurer insuring the payment when due of the principal of and interest on the Series 2008 Bonds as provided therein. 4.02. "Series 2008 Insurer"' means a and any successor thereto , or any successor thereto. "Serial Bonds" means all Bonds other than Term Bonds. "Special Fund" means the fund held by the Agency established pursuant to Section "State" means the State of California. "Subordinate Debt" means any loans, advances or indebtedness issued or incurred by the Agency pursuant to Section 3.06, which are either: (a) payable from, but not secured by a pledge of or lien upon, the Tax Revenues; or (b) secured by a pledge of or lien upon the Tax Revenues which is expressly subordinate to the pledge of and lien upon the Tax Revenues hereunder for the security of the Bonds. "Subordinate Debt Instrument" means any instrument providing for the issuance of Subordinate Debt. 13