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<br />"Project" shall mean, collectively, the Series 2003 Project and any Additional Project. <br /> <br />"Purchaser" means SunTrust Bank as the initial purchaser of 100% ofthe principal amount <br />of the Series 2003 Note. "Pmchaser" shall also be deemed to include allY successors or assigns of <br />SunTrust Bank or allY other institution paliicipating in the purchase of the Series 2003 Note. <br /> <br />"Rating Agencies" shaH meal1, collectively, Fitch, Moody's and Standard & Poor's. <br /> <br />"Rebate Fund" shall mean the Rebate Fund established pursuant to Section 4.04 hereof. <br /> <br />"Redemption Price" shaH mean, with respect to any Bond or portion thereof, the principal <br />amowlt or portion thereof, plus the applicable premium, if allY, payable upon redemption thereof <br />pursuant to such Bond or this Resolution. <br /> <br />"Refunding Securities" shall meall Federal Securities and Prerefunded Obligations. <br /> <br />"Registrar" shall mean for each Series of Bonds any registrar for such Series of Bonds <br />appointed by or purSUallt to this Resolution alld its successors alld assigns, and any other Person <br />which may at any time be substituted in its place pursmmt to this Resolution. The Clerk shall serve <br />as the Registrar for the Series 2003 Note. <br /> <br />"Reserve Account" shall mean the account established purSUallt to Section 4.04 hereof. <br /> <br />"Reserve Account Credit Instrument" shaH meall a Reserve Account Insurallce Policy <br />and/or a Reserve Account Letter of Credit. <br /> <br />"Reserve Account Insurance Policy" shall mean the insurance policy placed in the Reserve <br />Account in lieu of or in partial substitution for cash on deposit therein pursuant to Section 4.05(A)(2) <br />hereof. <br /> <br />"Reserve Account Letter of Credit" shall mean a letter of credit or line of credit or other <br />credit tàcility (other than a Reserve Accowlt Insurance Policy) placed in the Reserve Account in lieu <br />of or in partial substitution for cash on deposit therein pursuant to Section 4.05(A)(2) hereof. <br /> <br />"Reserve Account Requirement" shall mean, as of any date of calculation for a paliicular <br />subaccount of tl1e Reserve Account, all amount equal to the least of (I) Maximum Annual Debt <br />Service for all Outstallding Bonds which are secured by such subaccount, (2) 125% of the average <br />ammal debt service for all Outstallding Bonds which are secured by such subaccount, or (3) 10% of <br />the proceeds of Outstanding Bonds which are secured by such subaccount. In computing the Reserve <br />Account Requirement in respect of any subaccount of the Reserve Account which secures Bonds that <br />constitute Variable Rate Bonds, the interest rate on such Bonds shall be assumed to be the greater <br />of (a) I] 0% of the daily average interest rate on such Variable Rate Bonds during the 12 months <br />ending with the month preceding the date of calculation, or such shorter period of time that such <br /> <br />10 <br />