Establishment of Interest Rate. From and after the Mandatory Tender Date, the Unredeemed Bonds shall bear interest at the Remarketing Rate determined pursuant to this subsection. Any Remarketing Rate determined by the Remarketing Agent and taking effect pursuant to this Indenture shall be conclusive and binding for the purposes of this Indenture upon the Trustee, the Issuer, the Borrower and the Holders.
Establishment of Interest Rate. City may request a Rate Lock by completing, executing and delivering (by e-mail or facsimile transmission) the Rate Lock Request and Confirmation to Purchaser on a Business Day on or prior to 2:00 p.m. Mountain Time. Upon Purchaser’s receipt of a Rate Lock Request and Confirmation, Purchaser shall, on the Business Day so received, promptly confirm and undertake such actions as are necessary to fix and set the Interest Rate for the Bonds.
