fourth Series of Bonds. SECTION 1.01 There shall be a series of bonds designated "4.78% Series due 2052" (herein sometimes referred to as the "Twenty-fourth Series"), each of which shall also bear the descriptive title "First Mortgage Bond,” and the form thereof attached hereto as Exhibit A, as established by Resolution of the Board of Directors of the Company and shall contain suitable provisions with respect to the matters hereinafter in this Article I specified. Bonds of the Twenty-fourth Series shall be issued from time to time as fully registered bonds in denominations of One Hundred Thousand Dollars and, at the option of the Company, in any multiple or multiples of One Thousand Dollars (the exercise of such option to be evidenced by the execution and delivery thereof). Bonds of the Twenty-fourth Series shall mature on September 30, 2052 (the “Stated Maturity”) and bear interest at the rate of 4.78% per annum, payable semi-annually on March 30 and September 30 of each year, commencing March 30, 2023, and at the Stated Maturity; and the principal of, and premium, if any, and, unless otherwise agreed between the Company and the registered owner of any bonds of the Twenty-fourth Series registered in the name of such registered owner, interest on, each such bond shall be payable at the office or agency of the Company in the Borough of Manhattan, The City of New York or as otherwise provided in the form of bond of the Twenty-fourth Series, in such coin or currency of the United States of America as at the time of payment is legal tender for public and private debts. Bonds of the Twenty-fourth Series shall be dated as in Section 10 of the Mortgage provided. The bonds of the Twenty-fourth Series shall be payable and have and be subject to such other terms as provided in the form of bond of the Twenty-fourth Series established by the Board of Directors in a Resolution filed with the Corporate Trustee referring to the Twenty-fourth Series and shall have and be subject to such other terms as are provided in the Mortgage. All references in the Mortgage to the principal amount of bonds shall, when used with respect to the bonds of the Twenty-fourth Series, mean the unpaid principal amount thereof, except that, (a) for the purposes of transfers of fully registered bonds under Section 13 of the Mortgage, the term “like principal amount” shall, when used with respect to the bonds of the Twenty-fourth Series, mean “like aggregate unpaid principal amount,” and (b) for the purposes of exchang...