Interest on Bonds. The Bonds bear interest on the amount of the principal obligation outstanding at any time, at the rates provided in the Bonds, which rates are acceptable to the Office.
Interest on Bonds. The Bonds shall bear interest from and including the date thereof 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 or otherwise. Interest accrued on the Bonds from the date of authentication to and including January 3, 2007 shall be paid on the first Thursday of January, 2007 at the Variable Rate. Thereafter until the Conversion Date, interest accrued on the Bonds during each Interest Period (calculated and determined for each Accrual Period) shall be paid on each Interest Payment Date and (except as otherwise provided in Section 4.06 hereof following conversion to a Fixed Interest Rate) computed on the basis of a year of 365 or 366 days, as appropriate, for the actual number of days elapsed. In no event shall the Variable Rate exceed the Maximum Interest Rate.
Interest on Bonds. With respect to the CAB Bonds, the CAB Districts covenants they will not take any action or omit to take any action, if such action or omission would cause the interest on such Bonds to lose any of the following applicable exclusion(s):
(a) exclusion from gross income for federal income tax purposes under Section 103 of the Internal Revenue Code of 1986, as amended (the “Tax Code”);
(b) exclusion from alternative minimum taxable income as defined in Section 55(b)(2) of the Tax Code except to the extent such interest is required to be included in the adjusted current earnings adjustments applicable to corporations under Section 56 of the Tax Code in calculating corporate alternative minimum taxable income; or
(c) exclusion from Colorado taxable income or Colorado alternative minimum taxable income under present State law. Without limiting the generality of the foregoing, the CAB shall maintain such records regarding the investment of the proceeds of any Bonds that are issued by either the CAB to fulfill any rebate obligations pursuant to Section 148 of the Tax Code. The foregoing covenant shall remain in full force and effect, notwithstanding the payment in full or defeasance of the Bonds, until the date on which all obligations of the CAB in fulfilling the above covenant under the Tax Code and State law have been met.
Interest on Bonds. With respect to the CAB Bonds, the CAB Districts covenants they will not take any action or omit to take any action, if such action or omission would cause the interest on such Bonds to lose any of the following applicable exclusion(s):
(a) exclusion from gross income for federal income tax purposes under
(b) exclusion from alternative minimum taxable income as defined in Section 55(b)(2) of the Tax Code except to the extent such interest is required to be included in the adjusted current earnings adjustments applicable to corporations under Section 56 of the Tax Code in calculating corporate alternative minimum taxable income; or
(c) exclusion from Colorado taxable income or Colorado alternative minimum taxable income under present State law. Without limiting the generality of the foregoing, the CAB shall maintain such records regarding the investment of the proceeds of any Bonds that are issued by the CAB to fulfill any rebate obligations pursuant to Section 148 of the Tax Code. The foregoing covenant shall remain in full force and effect, notwithstanding the payment in full or defeasance of the Bonds, until the date on which all obligations of the CAB in fulfilling the above covenant under the Tax Code and State law have been met.
Interest on Bonds. If, while this Pledge and Security Agreement is in effect, Pledgor shall become entitled to receive or shall receive any interest payment in respect of the Pledged Bonds, Pledgor agrees to accept the same as Bank's agent and to hold the same in trust on behalf of Bank and to deliver the same forthwith to Bank. All interest payments in respect of the Drawing Bonds which are received by Bank shall be credited against the obligation of Pledgor to pay interest to Bank set forth in Section 4.1 of the Agreement.
Interest on Bonds. The Bonds shall bear interest from and including the date thereof (except as herein provided) until payment of the principal thereof shall have been
Interest on Bonds. The Borrower will not take any action which would adversely affect the exemption from federal income taxation of the interest paid on the Bonds, and will take, or require to be taken, such acts as may be reasonably within its ability and as may from time to time be required under applicable law or regulation to continue to exempt from federal income taxation the interest on the Bonds, including the preparation and filing of any statements required to be filed by it in order to maintain the tax-exempt status of the interest on the Bonds. The Borrower will notify promptly the Trustee and the Bank of the occurrence of any Determination of Taxability or any basis therefor, and of any allegation by any federal or state agency that any such event has occurred, of which the Borrower has or acquires knowledge. Section 1005.
Interest on Bonds. General 1. Interest accruing on Bonds bearing interest at a Commercial Paper Rate, a Daily Rate, a Weekly Rate, a Monthly Rate or a Semi-annual Rate, shall be computed on the basis of a 365 or 366-day year, as applicable, for the number of days actually elapsed. Interest accruing on Bonds bearing interest at a Term Rate or a Fixed Rate shall be computed on the basis of a 360-day year, consisting of twelve (12) thirty (30) day months. Interest accruing on Bonds bearing interest at an Auction Rate shall be computed on the basis of a 360-day year for the number of days actually elapsed. Bonds shall bear interest from the date of issuance thereof payable in arrears on each Interest Payment Date. The Bonds issued upon transfers or exchanges of Bonds shall bear interest from the Interest Payment Date next preceding their date of authentication, unless the date of authentication is an Interest Payment Date in which case such Bonds shall bear interest from such date, or unless the date of authentication is after the Record Date next preceding the next succeeding Interest Payment Date, in which case such Bonds shall bear interest from such next succeeding Interest Payment Date.
Interest on Bonds. The Bonds shall bear interest from and including the date thereof until payment of the principal thereof shall have been made or provided for in accordance with the provisions hereof, whether at maturity, upon redemption or otherwise. The Bonds will bear interest during the Initial Interest Period at the fixed rate of 6.5% per annum to (but excluding) June 20, 1991 and at the fixed rate of 6.25% per annum from (and including) June 20, 1991 to (but excluding) June
Interest on Bonds. The Bonds shall initially bear interest at an initial fixed rate based on a 365-day year (as set forth in the Indenture) from the issue date hereof until October 2, 1990, and thereafter at a Variable Weekly Rate, subject to conversion to a Fixed Rate, as described herein. All computations of interest at Variable Weekly Rates shall be based on a year of 365 or 366 days, as appropriate; and all computations of interest at a Fixed Rate shall be based on a 360-day year of twelve 30-day months. As used in this Bond, the term "Interest Payment Date" means (i) on or prior to the Fixed Rate Conversion Date, the first Business Day of each calendar month and (ii) after the Fixed Rate Conversion Date, each Marchn 1 and September 1. As used in this Bond, the term "Fixed Rate Conversion Date" means the effective date of a conversion of the interest rate on the Bonds from a Variable Weekly Rate to a Fixed Rate.
