Common use of Initial Principal Amount; Bond Interest Rate; Scheduled Final Payment Date; Final Maturity Date; Required Capital Level Clause in Contracts

Initial Principal Amount; Bond Interest Rate; Scheduled Final Payment Date; Final Maturity Date; Required Capital Level. The Series A Energy Transition Bonds of each Tranche shall have the initial principal amount, bear interest at the rates per annum (the “Bond Interest Rate”) and shall have the Scheduled Final Payment Dates and the Final Maturity Dates set forth below: Tranche Initial Principal Amount Bond Interest Rate Scheduled Final Payment Date Final Maturity Date {A-1} $ { } { } % { }, 20{ } { }, 20{ } The Bond Interest Rate shall be computed on the basis of a 360-day year of twelve 30-day months. The Required Capital Level for the Series A Energy Transition Bonds shall be equal to $[·]; provided that in no event shall the sum of the Required Capital Level for Series A Energy Transition Bonds and the Required Capital Level for all other outstanding series of energy transition bonds (as defined in the Energy Transition Act) issued by the Issuer be less than 0.5% of the total capital of the Issuer.

Appears in 4 contracts

Samples: Intercreditor Agreement (PNM Energy Transition Bond Co I, LLC), Intercreditor Agreement (PNM Energy Transition Bond Co I, LLC), Intercreditor Agreement (PNM Energy Transition Bond Co I, LLC)

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