AgdaPkt 2019-05-20 Joint SA PFA - Laserfiche WebLink

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8.A. - Page 20 of 73 (a) the amount of principal of and interest and premium (if any) on all outstanding Parity Debt coming due and payable by their terms in such Fiscal Year (but excluding Excluded Principal); and (b) the amount of principal of and interest and premium (if any) on all outstanding Subordinate Debt coming due and payable by their terms in such Fiscal Year (but excluding Excluded Principal); provided that with respect to such Parity Debt or Subordinate Debt, as the case may be: (1) for obligations bearing or comprising interest at other than a fixed rate, the rate of interest on such obligations used shall, for all purposes, be assumed to bear interest at a fixed rate equal to the higher of (i) the then current variable interest rate borne by such obligations, plus 1%, and (ii) if such obligations have been outstanding for at least twelve months, the average rate on such obligations over the twelve months immediately preceding the date of calculation, or if such obligations have not been outstanding for the twelve prior months, the average rate borne by reference to an index comparable to that to be utilized in determining the interest rate for the obligations to be incurred; (2) if any of such obligations have twenty-five percent (25%) or more of the aggregate principal amount due in any one year, Annual Debt Service shall be determined for the period of determination as if the principal of and interest and premium (if any) on, such obligations were being paid from the date of incurrence thereof in substantially equal annual amounts over a period of thirty (30) years from the date of calculation and if such obligations bear or comprise interest at other than a fixed rate, the rate of interest used shall be determined in accordance with subparagraph (1) above; (3) as to any obligations or portions thereof bearing no interest but which are sold at a discount and which discount accretes with respect to such obligations or portions thereof, such accreted discount shall be treated as interest in the calculation of Annual Debt Service; and (4) the amount on deposit in a debt service reserve fund on any date of calculation of Annual Debt Service shall be deducted from the amount of principal due at the final maturity of the obligations for which such debt service reserve fund was established and to the extent the amount in such debt service reserve fund is in excess of such amount of principal, such excess shall be applied to the full amount of principal due, in each preceding year, in descending order, until such amount is exhausted." (c) the amounts of SBSA Bond Payments coming due and payable in such Fiscal Year (but excluding Excluded Principal)." (c) The definition of "Bonds," as set forth in the Financing Agreement (including the third recital and in Appendix A thereto) is hereby amended and restated in its entirety to read as follows: 3 534