1994-06-21 Minutes - Laserfiche WebLink

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Principal Office of the Tender Agent, upon presentation and surrender of such Bond, as provided in Section 506 hereof. The interest on the Bonds shall be paid by check mailed on the applicable Interest Payment Date to the person appearing on the Bond Register as the registered owner thereof as of the close of business of the Trustee on the Record Date at the address of such owner as it appears on the Bond Register or at such other address as is furnished to the Trustee in writing by such owner not later than the Record Date. Payment of interest on any Bond may be made to any owner of $1,000,000 or more in aggregate principal amount of Bonds as of the close of business of the Trustee on the Record Date for a particular Interest Payment Date by wire transfer to such owner on such Interest Payment Date upon written notice from such owner containing the wire transfer address within the continental United States to which such owner wishes to have such wire directed, which written notice is received not later than the Business Day next preceding the Record Date. Anything herein to the contrary notwithstanding, payment of interest on Bonds which, as of the Record Date for the applicable Interest Payment Date, constitute Pledged Bonds, shall be made by wire transfer to the Principal Office of the Credit Facility Issuer and payment of Defaulted Interest shall be made as provided in Section 202(e) hereof. Section 202. Interest on Bonds. (a) General. The Bonds • shall bear interest from and including the date of the first authentication and delivery of the Bonds until payment of the principal or redemption price thereof shall have been made or provided for in accordance with the provisions hereof, whether at Maturity, upon redemption, acceleration or otherwise, provided that in no event shall interest accrue on Bonds bearing interest at a Weekly Rate or an Adjustable Long Rate greater than that permitted by Section 514(b) hereof. Interest accrued on the Bonds during each Rate Period shall be paid in arrears on each Interest Payment Date. Interest on the Bonds shall 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 Bonds shall initially bear interest at the Weekly Rate until the Rate Change Date as provided in Schedule I attached hereto. Thereafter, the Bonds shall continue to bear interest at the Weekly Rate until and unless any portion thereof is converted to a different Mode as provided in Section 601, 602, or 603 hereof. (b) Weekly Mode. (i) For each Rate Period during any Weekly Mode, each Bond which will bear interest at a Weekly Rate for such Rate Period shall bear interest beginning on the Rate ~ Change Date at the Weekly Rate determined on the Rate Determination 19