INTEREST ON THE INITIAL NOTES. (a) THE INITIAL 2009 NOTES. Each Initial 2009 Note will bear interest at the rate of 7.43% per annum from October 24, 1997 until the principal thereof is paid or duly provided for, and on any overdue principal and (to the extent that payment of such interest is enforceable under applicable law) on any overdue installment of interest at the same rate per annum, payable on May 1 and November 1 of each year, commencing on May 1, 1998 to the Person in whose name such Initial 2009 Note or any predecessor Initial Note is registered, at the close of business on the April 15 or October 15 next preceding such interest payment date; provided, however, that the interest payable at maturity will be payable to the Person to whom principal shall be payable. Interest on each Initial 2009 Note will cease to accrue upon the exchange of such Note for an Exchange 2009 Note, and if the record date for the interest payment date next following that exchange occurs after that exchange, the accrued and unpaid interest on that Initial 2009 Note will be payable to the Person in whose name such Exchange 2009 Note is registered on that record date. Each Initial 2009 Note will bear Additional Interest as and to the extent required under and in accordance with Section 1.03(e) hereof.
INTEREST ON THE INITIAL NOTES. (a) THE INITIAL 2000 NOTES. Each Initial 2000 Note will bear interest at the rate of 7.19% per annum from June 18, 1997 until the principal thereof is paid or duly provided for, and on any overdue principal and (to the extent that payment of such interest is enforceable under applicable law) on any overdue installment of interest at the same rate per annum, payable on January 1 and July 1 of each year, commencing on July 1, 1997 to the Person in whose name such Initial 2000 Note or any predecessor Initial Note is registered, at the close of business on the December 15 or June 15 next preceding such interest payment date; provided, however, that the record date for the interest payment due on July 1, 1997 shall be June 25, 1997 and provided further that the interest payable at maturity will be payable to the Person to whom principal shall be payable. Interest on each Initial 2000 Note will cease to accrue upon the exchange of such Note for an Exchange 2000 Note, and if the record date for the interest payment date next following that exchange occurs after that exchange, the accrued and unpaid interest on that Initial 2000 Note will be payable to the Person in whose name such Exchange 2000 Note is registered on that record date. Each Initial 2000 Note will bear Additional Interest as and to the extent required under and in accordance with Section 1.03(f) hereof.
