10B Action 2009 1221 - Laserfiche WebLink

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"Plan Limit" means the limitation, if any, contained in the Alameda County -City of San Leandro Redevelopment Plan and/or the West San Leandro Redevelopment Plan, as applicable, on the number of dollars of taxes which may be divided and allocated to the Agency pursuant to the Redevelopment Plan, as such limitation is prescribed by Section 33333.4 of the Law. "Principal Account" means the account by that name established and held by the Trustee pursuant to Section 4.03(b). "Principal Corporate Trust Office" means the corporate trust office of the Trustee located in San Francisco, California, or such other office that the Trustee may designate in writing to the Agency from time to time as the corporate trust office far purposes of this Indenture; provided, however, that for purposes of the transfer, registration, exchange, payment and surrender of Bonds, the term "Principal Corporate Trust Office" means in care of the corporate trust office of U.S. Bank National Association, in St. Paul, Minnesota. "Project Area" means the Alameda County -City of San Leandro Project Area and/or the West San Leandro Project Area, as applicable. "Qualified Reserve Account Credit Instrument" means an irrevocable standby or direct-pay letter of credit, insurance policy, or surety bond issued by a commercial bank or insurance company and deposited with the Trustee, provided that all of the following requirements are met at the time of acceptance thereof by the Trustee: (a) in the case of a commercial bank, the long-term credit rating of such bank at the time of delivery of an irrevocable standby or direct-pay letter of credit is at least "AA" from S&P and, in the case of an insurance company, the claims paying ability of such insurance company at the time of delivery of an insurance policy or surety bond is "AAA" from S&P or, if rated by A.M. Best & Company, is rated in the highest rating category by A.M. Best & Company; (b) such letter of credit or surety bond has a term of at least 12 months; (c) such letter of credit or surety bond has a stated amount at least equal to the portion of the Reserve Requirement with respect to which funds are proposed to be released; and (d) the Trustee is authorized pursuant to the terms of such letter of credit or surety bond to draw thereunder an amount equal to any deficiencies which may exist from time to time in the Interest Account or the Principal Account for the purpose of making payments required pursuant to Sections 4.03(a) or 4.03(b) of this Indenture. "Record Date" means, with respect to any Interest Payment Date, the close of business on the fifteenth (15th) calendar day of the month preceding such Interest Payment Date, whether or not such fifteenth (15th) calendar day is a Business Day. "Redemption Account" means the account by that name established and held by the Trustee pursuant to Section 4.03(e). "Redevelopment Plan" means the Alameda County - City of San Leandro Redevelopment Plan and/or the West San Leandro Redevelopment Plan, as applicable. "Redevelopment Project" means the Alameda County - City of San Leandro Redevelopment Project and/or the West San Leandro Redevelopment Project, as applicable. "Registration Books" means the records maintained by the Trustee pursuant to Section 2.08 for the registration and transfer of ownership of the Bonds. 11