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<br />-8- <br />delinquent installments and including any prepayment thereof under Section 7.2 or 7.3 of the <br />Installment Sale Agreement, but does not include Additional Payments. <br /> <br />“Installment Sale Agreement” means the Installment Sale Agreement dated as of <br />October 1, 2026, between the City and the Authority, together with any duly authorized and <br />executed amendments thereto. <br /> <br />“Interest Account” means the account by that name established and held by the Trustee <br />in the Bond Fund under Section 5.02. <br /> <br />“Interest Payment Dates” means each April 1 and October 1, commencing April 1, 2027, <br />so long as any Bonds remain unpaid, provided that Variable Rate Bonds shall have such <br />Interest Payment Dates as are specified in the Supplemental Indenture pursuant to which such <br />Variable Rate Bonds are issued. <br /> <br />“Maximum Annual Debt Service” means, as of the date of calculation, the maximum <br />amount of Debt Service for the current or any future Fiscal Year. <br /> <br />“Moody’s” means Moody’s Investors Service, a corporation duly organized and existing <br />under and by virtue of the laws of the State of Delaware, and its successors or assigns, except <br />that if such corporation shall be dissolved or liquidated or shall no longer perform the functions <br />of a securities rating agency, then the term “Moody’s” shall be deemed to refer to any other <br />nationally recognized securities rating agency selected by the Authority or the City. <br /> <br />“Net Revenues” means, for any Fiscal Year or other period of computation, Gross <br />Revenues for such period, less the Operations and Maintenance Costs attributable to such <br />period. <br /> <br />“Nominee” means (a) initially, Cede & Co. as nominee of DTC, and (b) any other <br />nominee of the Depository designated under Section 2.04(a). <br /> <br />“Operations and Maintenance Costs” means the reasonable and necessary costs paid or <br />incurred by the City for maintaining and operating the Water System, determined in accordance <br />with generally accepted accounting principles, including all reasonable expenses of <br />management and repair and all other expenses necessary to maintain and preserve the Water <br />System in good repair and working order, and including all reasonable and necessary <br />administrative costs of the City that are charged directly or apportioned to the operation of the <br />Water System, such as salaries and wages of employees, overhead, taxes (if any), the cost of <br />permits, licenses, and charges to operate the Water System and insurance premiums; but <br />excluding, in all cases depreciation, replacement, and obsolescence charges or reserves <br />therefor, amortization of intangibles and other non-cash charges (for example, OPEB and <br />pension accruals). <br /> <br />“Original Purchaser” means, in the case of the 2026 Bonds, Siebert Williams Shank & <br />Co., LLC. <br /> <br />“Outstanding”, when used as of any particular time with reference to Bonds, means, <br />subject to the last paragraph of Section 10.01 of the Indenture, all Bonds theretofore, or <br />thereupon being, authenticated and delivered by the Trustee under this Indenture except: (a) <br />Bonds theretofore canceled by the Trustee or surrendered to the Trustee for cancellation; (b) <br />Bonds with respect to which all liability of the Authority shall have been discharged in <br />Page 24 of 205