Balloon Indebtedness. The Debt Service Requirements on Balloon Indebtedness may be deemed to be payable as follows:
Balloon Indebtedness. If any of the outstanding Indebtedness or of the additional bonds of the Series to be issued constitute Balloon Indebtedness or Balloon Indebtedness and Variable Rate Indebtedness, then for purposes of the amounts to be shown in items (ii) and (iii) of clause (d) above, the Authority shall adjust such amounts as if the principal amount of such bonds or Indebtedness were to be amortized in substantially equal annual installments of principal and interest over a term equal to the lesser of (i) twenty-five (25) years and (ii) the weighted average estimated useful life of the facilities comprising the portion of the Turnpike Project or Improvement financed or to be financed from the proceeds of such bonds or Indebtedness, the fixed interest rate used for such computation being in the case such Indebtedness shall also constitute Variable Rate Indebtedness, the maximum rate established pursuant to paragraph (C)(l) below and in all other cases, the greater of (x) the interest rate or rates borne by such Indebtedness and (y) the rate at which it is assumed that the Authority could reasonably expect to borrow or to have borrowed by issuing Senior Indebtedness with such term and level Principal and Interest Requirements for each bond year, such reasonable expectations being established by a certificate of the Chief Executive Officer of the Authority and a letter of a banking or investment banking or financial advisory institution knowledgeable in financial matters relating to the Authority, confirming the interest rate assumption as reasonable.