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to, but not including, the next succeeding February 1 or August 1 and from each succeeding February 1 or • August 1, as the case may be, to the next succeeding February 1 or August 1. Interest on the Bonds will be computed (i) during any Weekly Mode and during any Adjustable Long Mode for any Rate Period of a duration of 366 days or less, upon the basis of a 365- or 366-day year, as applicable, for the number of days actually elapsed and. (ii) during any Adjustable Long Mode for any Rate Period of a duration of greater than 366 days or during a Fixed Mode, upon the basis of a 360-day year consisting of twelve 30-day months. THE TRUSTEE HAS NO OBLIGATION, EXCEPT UPON REQUEST, TO INFORM THE BONDHOLDER OF THE RATE APPLICABLE IN ANY RATE PERIOD WHILE BONDS BEAR INTEREST AT A WEEKLY RATE OR AN ADJUSTABLE LONG RATE. THE BONDHOLDER MAY CONTACT THE TRUSTEE OR THE REMARKETING AGENT TO DETERMINE THE INTEREST RATE APPLICABLE DURING SUCH A RATE PERIOD. Weekly Mode. For each Rate Period during a Weekly Mode, the Bonds in such Mode will bear interest at the Weekly Rate. The Weekly Rate is a fixed per annum interest rate equal to the lowest interest rate which, in the judgment of Remarketing Agent, would enable such Bonds to be remarketed at the principal amount thereof, plus accrued interest, if any, on the Rate Change Date for such Rate Period. No later than 11:00 am., New York City time, on the Rate Determination Date for such Rate Period, the Remarketing Agent will determine and will give notice by telecopy to the Trustee and the Tender Agent of the Weekly Rate applicable to the Bonds. Rate Determination Dates will occur on Tuesday of each week (unless such day is not a Business Day, in which case the Rate Determination Date for such week shall be the immediately preceding Business Day), and Rate Change Dates will occur on Wednesday of each week. If at any time the • Remarketing Agent determines that, in its judgment, the scheduled Rate Determination Dates or Rate Change Dates for a Weekly Mode have become inappropriate, taking into account general market practice with respect to periodic adjustment of rates on instruments comparable to the Bonds bearing interest at the Weekly Rate, the Remarketing Agent may designate a new schedule of Rate Determination Dates and/or Rate Change Dates. The Remarketing Agent will give written notice of any such change to the Trustee (who promptly upon receipt of such notice will notify each affected Bondholder in writing), the Authority, the Tender Agent, and the Credit Facility Issuer. Such change will become effective on the first scheduled Rate Determination Date or Rate Change Date, as the case may be, so designated occurring not less than 14 days following the giving of such notice. Except on an Adjustment Date, in the event that the Weekly Rate for any Rate Period is not determined by the Remarketing Agent, the rate of interest borne by the Bonds bearing interest at a Weekly Rate for the immediately preceding Rate Period shall remain in effect for such Rate Period. Adjustable Long Mode. For each Rate Period during an Adjustable Long Mode, each Bond in such Rate Period will bear interest at the Adjustable Long Rate. The Adjustable Long Rate is a fixed per annum interest rate equal to the lowest interest rate which, in the judgment of the Remarketing Agent, would enable such Bonds to be remarketed at the principal amount thereof, plus accrued interest, if any, on the Rate Change Date for such Rate Period. No later than 11:00 am., New York City time, on the Rate Determination Date for such Rate Period, the Remarketing Agent will determine, and will give notice by telecopy to the Trustee and the Tender Agent of the Adjustable Long Rate applicable to the Bonds in such Rate Period. The Rate Determination Date for each Rate Period during an Adjustable Long Mode will be a Business Day, designated by the Remarketing Agent, not less than one calendar day nor more than seven calendar days prior to the first day of such Rate Period. -10-