reconvene regular meeting: 7:00 pm - Irvine Unified School District

owners of the Note Participations and in order to assist the Purchaser in complying with Rule
15c2-12(b)(5) under the Securities Exchange Act of 1934.
Section 11.02. Definitions. In addition to the definitions set forth in Article I,
which apply to any capitalized term used in this Article XI unless otherwise defined in this
Section, the following capitalized terms shall have the following meanings:
“Disclosure Representative” shall mean the Authorized District Representative of
each of the Districts or his or her designee, or such other officer or employee as any District shall
designate in writing to the Dissemination Agent and the Trustee from time to time.
“Dissemination Agent” shall mean the Trustee, acting in its capacity as
Dissemination Agent hereunder, or any successor Dissemination Agent designated in writing by
the Districts and which has filed with the Trustee a written acceptance of such designation.
“EMMA” means the Electronic Municipal Market Access system, information
about which may be found at the following Internet address: http://emma.msrb.org/.
“Listed Events” shall mean any of the events listed in Section 11.03 hereof.
“Repository” shall mean EMMA or any other repository designated for purposes
of the Rule and recognized by the Securities and Exchange Commission.
“Rule” shall mean Rule 15c2-12(b)(5) adopted by the Securities and Exchange
Commission under the Securities Exchange Act of 1934, as the same may be amended from time
to time.
Section 11.03. Reporting of Significant Events.
(a) Pursuant to this Section each District shall give, or cause to be given,
notice of the occurrence of any of the following events, to the extent applicable, with respect to
its Note and the Note Participations, if material:
1. Principal and interest payment delinquencies;
2. Nonpayment related defaults;
3. Unscheduled draws on debt service reserves reflecting financial
difficulties;
4. Unscheduled draws on credit enhancements reflecting financial
difficulties;
5. Substitution of credit or liquidity providers, or their failure to perform;
Notes;
6. Adverse tax opinions or events affecting the tax-exempt status of the
7. Modifications to rights of Noteholders;
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