Common use of Certain Terms of the Notes Clause in Contracts

Certain Terms of the Notes. (a) The 5.19% Notes shall bear interest at the rate of 5.19% per annum on the principal amount thereof from the date of original issuance, or from the most recent Interest Payment Date to which interest has been paid or duly provided for, until the principal of the Notes becomes due and payable, and on any overdue principal and Make-Whole Amount and (to the extent that payment of such interest is enforceable under applicable law) on any overdue installment of interest at the rate of 5.19% per annum during such overdue period. Interest on the Notes will be payable semi-annually in arrears on October 1 and April 1 of each year (each such date, an "Interest Payment Date"), commencing April 1, 2006. The amount of interest payable for any period shall be computed on the basis of a 360-day year and twelve 30-day months.

Appears in 1 contract

Samples: Detroit Edison Co

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Certain Terms of the Notes. (a) The 5.19% Notes shall bear interest at the rate of 5.195.70% per annum on the principal amount thereof from the date of original issuance, or from the most recent Interest Payment Date to which interest has been paid or duly provided for, until the principal of the Notes becomes due and payable, and on any overdue principal and Make-Whole Amount premium and (to the extent that payment of such interest is enforceable under applicable law) on any overdue installment of interest at the same rate of 5.19% per annum during such overdue period. Interest on the Notes will be payable semi-annually in arrears on October April 1 and April October 1 of each year (each such date, an "Interest Payment Date"), commencing April 1, 2006. The amount of interest payable for any period shall be computed on the basis of a 360-day year and twelve 30-day months.

Appears in 1 contract

Samples: Indenture (Detroit Edison Co)

Certain Terms of the Notes. (a) The 5.19% Notes shall bear interest at the rate of 5.196.625% per annum on the principal amount thereof from the date of original issuance, or from the most recent Interest Payment Date to which interest has been paid or duly provided for, until the principal of the Notes becomes due and payable, and on any overdue principal and Make-Whole Amount premium and (to the extent that payment of such interest is enforceable under applicable law) on any overdue installment of interest at the same rate of 5.19% per annum during such overdue period. Interest on the Notes will be payable semi-annually in arrears on October June 1 and April December 1 of each year (each such date, an "Interest Payment Date"), commencing April December 1, 2006. The amount of interest payable for any period shall be computed on the basis of a 360-day year and twelve 30-day months.

Appears in 1 contract

Samples: Detroit Edison Co

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Certain Terms of the Notes. (a) The 5.19% Notes shall bear interest at the rate of 5.195 1/2% per annum on the respective principal amount thereof thereof, from the date of original issuanceAugust 28, 2003, or from the most recent Interest Payment Date to which interest has been paid or duly provided for, until the principal of the such series of Notes becomes due and payable, and on any overdue principal and Make-Whole Amount premium and (to the extent that payment of such interest is enforceable under applicable law) on any overdue installment of interest at the same rate of 5.19% per annum during such overdue period. Interest on the Notes will be payable semi-annually semiannually in arrears on October June 1 and April December 1 of each year (each such date, an "Interest Payment Date"), commencing April December 1, 20062003. Payment of interest on the 2003A Bonds shall be deemed to constitute payment on the related series of Notes. The amount of interest payable for any period shall be computed on the basis of twelve 30-day months and a 360-day year and twelve 30-day monthsyear.

Appears in 1 contract

Samples: Supplemental Indenture (Detroit Edison Co)

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