Common use of Medium of Payment; Form and Date Clause in Contracts

Medium of Payment; Form and Date. The Bonds shall be issuable only as fully registered Bonds without coupons in Authorized Denominations. Unless the Authority shall otherwise direct, the Bonds shall be numbered as determined by the Trustee. The Bonds, the designation of such Bonds, the form of Bonds, the certificate of authentication to be endorsed on the Bonds and the form of assignment to be endorsed on the Bonds are to be in substantially the form set forth in Exhibit A attached hereto and hereby made a part of this Indenture, with necessary and appropriate variations, omissions and insertions as permitted or required by this Indenture. The Bonds shall initially be dated as of the Closing Date. Regularly scheduled interest on the Bonds shall be payable on the applicable Interest Payment Date. Each Bond will bear interest from the Interest Payment Date next preceding the date of authentication thereof to which interest has been duly paid or provided for, unless a Bond is authenticated on or before the first Record Date, in which case interest will accrue from the Closing Date, or unless authenticated as of a date during the period from the Record Date to and including the next Interest Payment Date, in which case it shall bear interest from such Interest Payment Date. The Trustee shall insert the date of authentication of each Bond in the place provided for such purpose in the form of certificate of authentication to be printed on each Bond. Each Bond shall bear interest on overdue principal at the rate then in effect on such Bond. The principal of, premium, if any, and interest on the Bonds shall be payable in lawful money of the United States of America, being any coin or currency of the United States of America which, at the respective dates of payment thereof, is legal tender for the payment of public and private debts. Interest on each Bond shall be paid on each Interest Payment Date to the Bondowner of such Bond at the close of business on the Record Date with respect to such interest payment and shall be paid by check or draft mailed on such Interest Payment Date to such Bondowner at his address as it appears on the registration books of the Trustee or, upon the written request of a Bondowner of at least $500,000 in principal amount of Bonds received by the Trustee not later than fifteen days prior to the Record Date for such payment, by wire transfer to an account in the United States designated by such Bondowner, irrespective of the cancellation of such Bond upon any transfer or exchange thereof subsequent to such Record Date and prior to such Interest Payment Date, unless the Authority shall default in the payment of interest due on such Interest Payment Date. Payment of principal and premium, if any, due on any Bond shall be paid only upon surrender of such Bond at the office designated by the Trustee in writing, or its successor in interest. In the event of any default in the payment of interest, such defaulted interest shall be payable to the Bondowner of such Bond on a special Record Date for the payment of such defaulted interest, which date shall be established by the Trustee by notice mailed by or on behalf of the Authority to the Owners of Bonds not less than fifteen (15) days preceding such special Record Date.

Appears in 2 contracts

Samples: Indenture of Trust, Indenture of Trust

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Medium of Payment; Form and Date. The Bonds shall be issuable only as fully registered Bonds without coupons in Authorized Denominations. Unless the Authority shall otherwise direct, the Bonds shall be numbered as determined by the Trustee. The Bonds, the designation of such Bonds, the form forms of Bonds, the certificate of authentication to be endorsed on the Bonds and the form of assignment to be endorsed on the Bonds are to be in substantially the form set forth in Exhibit A attached hereto and hereby made a part of this Indenture, with necessary and appropriate variations, omissions and insertions as permitted or required by this Indenture. The Bonds shall initially be dated as of the Closing Date. Regularly scheduled interest on the Bonds shall be payable on the applicable Interest Payment Date. Each Bond will bear interest from the Interest Payment Date next preceding the date of authentication thereof to which interest has been duly paid or provided for, unless a Bond is authenticated on or before the first Record Date, in which case interest will accrue from the Closing Date, or unless authenticated as of a date during the period from the Record Date to and including the next Interest Payment Date, in which case it shall bear interest from such Interest Payment Date. The Trustee shall insert the date of authentication of each Bond in the place provided for such purpose in the form of certificate of authentication to be printed on each Bond. Each Bond shall bear interest on overdue principal at the rate then in effect on such Bond. The principal of, premium, if any, and interest on the Bonds shall be payable in lawful money of the United States of America, being any coin or currency of the United States of America which, at the respective dates of payment thereof, is legal tender for the payment of public and private debts. Interest on each Bond shall be paid on each Interest Payment Date to the Bondowner of such Bond at the close of business on the Record Date with respect to such interest payment and shall be paid by check or draft mailed on such Interest Payment Date to such Bondowner at his address as it appears on the registration books of the Trustee or, upon the written request of a Bondowner of at least $500,000 in principal amount of Bonds received by the Trustee not later than fifteen days prior to the Record Date for such payment, by wire transfer to an account in the United States designated by such Bondowner, irrespective of the cancellation of such Bond upon any transfer or exchange thereof subsequent to such Record Date and prior to such Interest Payment Date, unless the Authority shall default in the payment of interest due on such Interest Payment Date. Payment of principal and premium, if any, due on any Bond shall be paid only upon surrender of such Bond at the office designated by the Trustee in writing, or its successor in interest. In the event of any default in the payment of interest, such defaulted interest shall be payable to the Bondowner of such Bond on a special Record Date for the payment of such defaulted interest, which date shall be established by the Trustee by notice mailed by or on behalf of the Authority to the Owners of Bonds not less than fifteen (15) days preceding such special Record Date.

Appears in 1 contract

Samples: Indenture of Trust

Medium of Payment; Form and Date. The Bonds shall be issuable only as fully registered Bonds without coupons in Authorized Denominations. Unless the Authority shall otherwise direct, the Bonds shall be numbered as determined by the Trustee. The Bonds, the designation of such Bonds, the form of Bonds, the certificate of authentication to be endorsed on the Bonds and the form of assignment to be endorsed on the Bonds are to be in substantially the form set forth in Exhibit A attached hereto and hereby made a part of this Indenturepayable, with necessary respect to interest, principal and appropriate variations, omissions and insertions as permitted or required by this Indenture. The Bonds shall initially be dated as of the Closing Date. Regularly scheduled interest on the Bonds shall be payable on the applicable Interest Payment Date. Each Bond will bear interest from the Interest Payment Date next preceding the date of authentication thereof to which interest has been duly paid or provided for, unless a Bond is authenticated on or before the first Record DateRedemption Price, in which case interest will accrue from the Closing Date, or unless authenticated as of a date during the period from the Record Date to and including the next Interest Payment Date, in which case it shall bear interest from such Interest Payment Date. The Trustee shall insert the date of authentication of each Bond in the place provided for such purpose in the form of certificate of authentication to be printed on each Bond. Each Bond shall bear interest on overdue principal at the rate then in effect on such Bond. The principal of, premium, if any, and interest on the Bonds shall be payable in lawful money of the United States of America, being any coin or currency of the United States of America which, which at the respective dates time of payment thereof, is legal tender for the payment of public and private debts. Interest Except as otherwise provided herein or in a Series Supplement, the Principal Amount of and premium, if any, on each Bond the Bonds shall be paid on each Interest Payment Date to the Bondowner of such Bond payable by check or draft at the close designated corporate trust office of business the Trustee upon presentation and surrender of the Bonds. If the date for payment of the Principal Amount of the Bonds is not a Business Day, such payment will be made on the Record Date with respect to next succeeding Business Day as though made on such Payment Date. Payment of interest payment and on the Bonds shall be paid made by check or draft mailed on such the Interest Payment Date (or the next succeeding Business Day if an Interest Payment Date is not a Business Day) to the address of the person in whose name any Bond is registered as such Bondowner at his address as it appears shall appear on the registration books of the Trustee or, upon the written request of a Bondowner of at least $500,000 in principal amount of Bonds received bond register maintained by the Trustee not later than fifteen days prior to Registrar on the Record Date for such payment, by wire transfer (established pursuant to an account in the United States designated by such Bondowner, irrespective of the cancellation of such Bond upon any transfer or exchange thereof subsequent to such Record Date and prior to such Interest Payment Date, unless the Authority shall default in the payment of interest due on Section 3.05 hereof) immediately preceding such Interest Payment Date. Payment Notwithstanding the foregoing, the Principal Amount of, the Redemption Price of, and the interest on the Bonds is payable by electronic transfer in immediately available federal funds pursuant to instructions from any Holder of principal and premium, if any, due on $1,000,000 or more in aggregate Principal Amount of Bonds of any Bond one Series. Any such instructions for electronic transfer shall be paid only upon surrender in writing and signed by such Holder and shall include the name of the bank (which shall be in the continental United States), its address, its ABA routing number, the Holderʹs account number, account name and the phone number and contact name related to such Bond Holderʹs account at such bank to which the payment is to be credited. Unless the Bonds are in book‐entry form, no Principal Amount or Redemption Price of the Bonds is payable unless the Holder thereof shall have surrendered such Bonds at the designated corporate trust office designated by of the Trustee in writingTrustee. All checks, drafts or its successor in interest. In the event of any default in the payment of interest, such defaulted interest shall be payable to the Bondowner of such Bond on a special Record Date electronic transfers for the payment of such defaulted interest, which date the Principal Amount and Redemption Price of and interest on the Bonds shall include or have enclosed therewith the CUSIP number and appropriate payment amount for each CUSIP number. Bonds of each Series shall be established by the Trustee by notice mailed by or on behalf dated as of the Authority to date or dates specified in the Owners Series Supplement authorizing the issuance thereof; provided, however, that if interest on the Bonds of any Series shall be in default, Bonds of such Series issued in lieu of Bonds not less than fifteen (15) days preceding such special Record Datesurrendered for transfer or exchange therefor may be dated as of the date to which interest has been paid in full on the Bonds surrendered.

Appears in 1 contract

Samples: Master Trust Indenture

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Medium of Payment; Form and Date. The Bonds shall be issuable only as fully registered Bonds without coupons in Authorized Denominations. Unless the Authority shall otherwise direct, the Bonds shall be numbered as determined by the Trustee. The Series A Bonds and the Series B Bonds, the designation of such Bonds, the form forms of Bonds, the certificate of authentication to be endorsed on the Bonds and the form of assignment to be endorsed on the Bonds are to be in substantially the form set forth in Exhibit Exhibits A and B, respectively, attached hereto and hereby made a part of this Indenture, with necessary and appropriate variations, omissions and insertions as permitted or required by this Indenture. The Bonds shall initially be dated as of the Closing Date. Regularly scheduled interest on the Bonds shall be payable on the applicable Interest Payment Date. Each Bond will bear interest from the Interest Payment Date next preceding the date of authentication thereof to which interest has been duly paid or provided for, unless a Bond is authenticated on or before the first Record Date, in which case interest will accrue from the Closing Date, or unless authenticated as of a date during the period from the Record Date to and including the next Interest Payment Date, in which case it shall bear interest from such Interest Payment Date. The Trustee shall insert the date of authentication of each Bond in the place provided for such purpose in the form of certificate of authentication to be printed on each Bond. Each Bond shall bear interest on overdue principal at the rate then in effect on such Bond. The principal of, premium, if any, and interest on the Bonds shall be payable in lawful money of the United States of America, being any coin or currency of the United States of America which, at the respective dates of payment thereof, is legal tender for the payment of public and private debts. Interest on each Bond shall be paid on each Interest Payment Date to the Bondowner of such Bond at the close of business on the Record Date with respect to such interest payment and shall be paid by check or draft mailed on such Interest Payment Date to such Bondowner at his address as it appears on the registration books of the Trustee or, upon the written request of a Bondowner of at least $500,000 in principal amount of Bonds received by the Trustee not later than fifteen days prior to the Record Date for such payment, by wire transfer to an account in the United States designated by such Bondowner, irrespective of the cancellation of such Bond upon any transfer or exchange thereof subsequent to such Record Date and prior to such Interest Payment Date, unless the Authority shall default in the payment of interest due on such Interest Payment Date. Payment of principal and premium, if any, due on any Bond shall be paid only upon surrender of such Bond at the office designated by the Trustee in writing, or its successor in interest. In the event of any default in the payment of interest, such defaulted interest shall be payable to the Bondowner of such Bond on a special Record Date for the payment of such defaulted interest, which date shall be established by the Trustee by notice mailed by or on behalf of the Authority to the Owners of Bonds not less than fifteen (15) days preceding such special Record Date.

Appears in 1 contract

Samples: Indenture of Trust

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