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1 <br /> all Parity Bonds then outstanding consent to the amendment to the definitions of Rate Covenant, <br /> Revenue of the System and Annual Debt Service made in Ordinance No. 3313.43. For purposes <br /> of this provision, the owners of the 2013 Bonds, the Bonds and any Future Parity Bonds are <br /> deemed to have approved the amended definitions in this ordinance. <br /> Notice of Sale means the notice of bond sale authorized to be given in Section 15 of this <br /> ordinance. <br /> Original Issue Discount Bonds means Parity Bonds which are sold at an initial public <br /> offering price of less than 95% of their face value and which are specifically designated as <br /> Original Issue Discount Bonds in the ordinance authorizing their issuance. <br /> Outstanding Parity Bonds means the 2009 Bonds, the 2011 Bonds, the 2013 Bonds and <br /> the 2015 Bonds. <br /> Parity Bonds means the Outstanding Parity Bonds, the Bonds and any Future Parity <br /> Bonds. <br /> Parity Requirement means Net Revenues equal to or greater than 125% of average <br /> Annual Debt Service for all Parity Bonds computed by deducting from Annual Debt Service the <br /> Annual Debt Service for each series or issue of Parity Bonds that is covered by ULID <br /> Assessments. <br /> In determining the amount of Annual Debt Service "covered by ULID Assessments", <br /> Annual Debt Service for each future year is reduced by the dollar amount of ULID Assessments <br /> projected to be received during such future year, and the remaining outstanding ULID <br /> Assessments are assumed to be paid in the remaining number of annual installments with no <br /> prepayments. For purposes of determining whether the Parity Requirement has been met, <br /> transfers from the Coverage Stabilization Account shall not be taken into account. <br /> - P:120287_CMW120287_13N9 10/11/16 <br />