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Letter of Credit means the irrevocable letter of credit issued by the Bank on the Closing <br /> Date to secure the payment of principal of and interest on the Bonds. <br /> Letter of Representations means the Blanket Issuer Letter of Representations from the <br /> City to DTC. <br /> Mandatory Purchase Date means: <br /> (a) the Fixed Rate Conversion Date, <br /> (b) any Substitution Date, <br /> (c) any Expiration Tender Date, and <br /> (d) any Default Tender Date. <br /> Maturity Date means December 1, 2021, and upon a change to the Fixed Mode, any <br /> Serial Maturity Date or Term Maturity Date established pursuant to Section 2.09(e). <br /> Maximum Rate means, on any day, the lesser of (a) 12% or (b) the per annum interest <br /> rate used under the Credit Facility, which initially is 12%. <br /> Mode means the Weekly Mode or the Fixed Mode, as the context may require. <br /> Moody's means Moody's Investors Service, Inc., a corporation duly organized and <br /> existing under and by virtue of the laws of the State of Delaware, and its successors and assigns, <br /> except that if such corporation shall be dissolved or liquidated or shall no longer perform the <br /> functions of a securities rating agency, then the term Moody's shall be deemed to refer to any <br /> other nationally recognized securities rating agency (other than S&P or Fitch) selected by the <br /> Finance Director-Treasurer. <br /> Notice Parties means the City, the Remarketing Agent,the Registrar and the Bank. <br /> Optional Redemption means any redemption of Bonds made pursuant to Sections 3.01 <br /> through 3.04 hereof. <br /> -9- P:\CMW\CMW4ZL 11/20/01 <br />