Common use of SERIES INTEREST RATE Clause in Contracts

SERIES INTEREST RATE. SECTION 2.5.1. DETERMINING THE INTEREST RATE. By purchasing 1999-1 Notes, whether in an Auction or otherwise, each purchaser of the 1999-1 Notes, or its Broker-Dealer, must agree and shall be deemed by such purchase to have agreed (i) to participate in Auctions on the terms described herein, (ii) to have its beneficial ownership of the 1999-I Notes maintained at all times in Book-Entry Form for the account of its Participant, which in turn will maintain records of such beneficial ownership and (iii) to authorize such Participant to disclose to the Auction Agent such information with respect to such beneficial ownership as the Auction Agent may request. So long as the ownership of a Series of 1999-1 Notes is maintained in Book-Entry Form, an Existing Note Owner may sell, transfer or otherwise dispose of 1999-I Notes of such Series only pursuant to a Bid or Sell Order placed in an Auction or otherwise sell, transfer or dispose of 1999-1 Notes through a Broker-Dealer provided that, in the case of all transfers other than pursuant to Auctions, such Existing Note Owner, its Broker-Dealer or its Participant advises the Auction Agent of such transfer. Auctions shall be conducted on each Auction Date, if there is an Auction Agent on such Auction Date, in the following manner (such procedures to be applicable separately to each Series of the 1999-I Notes): (i) Prior to the Submission Deadline on each Auction Date relating to a Series of 1999-I Notes: (A) each Existing Note Owner of the applicable Series of 1999-I Notes may submit to a Broker-Dealer by telephone or otherwise any information as to: (1) the principal amount of Outstanding 1999-I Notes of such Series, if any, owned by such Existing Note Owner which such Existing Note Owner desires to continue to own without regard to the Series Interest Rate for the next succeeding Auction Period; (2) the principal amount of Outstanding 1999-I Notes of such Series if any, which such Existing Note Owner offers to sell if the Series Interest Rate for the next succeeding Auction Period shall be less than the rate per annum specified by such Existing Note Owner; and/or (3) the principal amount of Outstanding 1999-I Notes of such Series if any, owned by such Existing Note Owner which such Existing Note Owner offers to sell without regard to the Series Interest Rate for the next succeeding Auction Period; and (B) one or more Broker-Dealers may contact potential Note Owners' to determine the principal amount of 1999-1 Notes of such Series which each potential Note Owner offers to purchase, if the Series Interest Rate for the next succeeding Auction Period shall not be less than the rate per annum specified by such potential Note Owner. The statement of an Existing Note Owner or a potential Note Owner referred to in (A) or (B) of this paragraph (i) is herein referred to as an "Order," and each Existing Note Owner and each potential Note Owner placing an Order is herein referred to as a "Bidder"; an order described in clause (A)(1) is herein referred to as a "Hold Order"; an Order described in clauses (A)(2) and (B) is herein referred to as a "Bid"; and an Order described in clause (A)(3) is herein referred to as a "Sell Order." (ii) (A) Subject to the provisions of Section 2.5. l(b) hereof, a Bid by an Existing Note Owner shall constitute an irrevocable offer to sell: (1) the principal amount of Outstanding 1999-I Notes specified in such Bid if the Series Interest Rate determined as provided in this Section 2.5.1 shall be less than the rate specified therein; or (2) such principal amount, or a lesser principal amount of Outstanding 1999-I Notes to be determined as set forth in Section 2.5.l(d)(i)(D) hereof, if the Series Interest Rate determined as provided in this Section 2.5.1 shall be equal to the rate specified therein; or (3) such principal amount, or a lesser principal amount of Outstanding 1999-1 Notes to be determined as set forth in Section 2.5 l(d)(ii)(C) hereof, if the rate specified therein shall be higher than the Series Interest Rate and Sufficient Bids have not been made.

SERIES INTEREST RATE. SECTION 2.5.1. DETERMINING THE INTEREST RATE. By purchasing 1999-1 2000 Notes, whether in an Auction or otherwise, each purchaser of the 1999-1 2000 Notes, or its Broker-Dealer, must agree and shall be deemed by such purchase to have agreed (i) to participate in Auctions on the terms described herein, (ii) to have its beneficial ownership of the 1999-I 2000 Notes maintained at all times in Book-Entry Form for the account of its Participant, which in turn will maintain records of such beneficial ownership and (iii) to authorize such Participant to disclose to the Auction Agent such information with respect to such beneficial ownership as the Auction Agent may request. So long as the ownership of a Series of 1999-1 2000 Notes is maintained in Book-Entry Form, an Existing Note Owner may sell, transfer or otherwise dispose of 1999-I 2000 Notes of such Series only pursuant to a Bid or Sell Order placed in an Auction or otherwise sell, transfer or dispose of 1999-1 2000 Notes through a Broker-Dealer Dealer; provided that, in the case of all transfers other than pursuant to Auctions, such Existing Note Owner, its Broker-Dealer or its Participant advises the Auction Agent of such transfer. Auctions shall be conducted on each Auction Date, if there is an Auction Agent on such Auction Date, in the following manner (such procedures to be applicable separately to each Series of the 1999-I 2000 Notes): (i) Prior to the Submission Deadline on each Auction Date relating to a Series of 1999-I 2000 Notes: (A) each Existing Note Owner of the applicable Series of 1999-I 2000 Notes may submit to a Broker-Dealer by telephone or otherwise any information as to: (1) the principal amount of Outstanding 1999-I 2000 Notes of such Series, if any, owned by such Existing Note Owner which such Existing Note Owner desires to continue to own without regard to the Series Interest Rate for the next succeeding Auction Period; (2) the principal amount of Outstanding 1999-I 2000 Notes of such Series Series, if any, which such Existing Note Owner offers to sell if the Series Interest Rate for the next succeeding Auction Period shall be less than the rate per annum specified by such Existing Note Owner; and/or (3) the principal amount of Outstanding 1999-I 2000 Notes of such Series Series, if any, owned by such Existing Note Owner which such Existing Note Owner offers to sell without regard to the Series Interest Rate for the next succeeding Auction Period; and (B) one or more Broker-Dealers may contact potential Note Owners' Owners to determine the principal amount of 1999-1 2000 Notes of such Series which each potential Note Owner offers to purchase, purchase if the Series Interest Rate for the next succeeding Auction Period shall not be less than the rate per annum specified by such potential Note Owner. The statement of an Existing Note Owner or a potential Note Owner referred to in (A) or (B) of this paragraph (i) is herein referred to as an "Order," and each Existing Note Owner and each potential Note Owner placing an Order is herein referred to as a "Bidder"; an order described in clause (A)(1) is herein referred to as a "Hold Order"; an Order described in clauses (A)(2) and (B) is herein referred to as a "Bid"; and an Order described in clause (A)(3) is herein referred to as a "Sell Order." (ii) (A) Subject to the provisions of Section 2.5. l(b2.5.1 (b) hereof, a Bid by an Existing Note Owner shall constitute an irrevocable offer to sell: (1) the principal amount of Outstanding 1999-I 2000 Notes specified in such Bid if the Series Interest Rate determined as provided in this Section 2.5.1 shall be less than the rate specified therein; or (2) such principal amount, or a lesser principal amount of Outstanding 1999-I 2000 Notes to be determined as set forth in Section 2.5.l(d)(i)(D2.5.1(d)(i)(D) hereof, if the Series Interest Rate determined as provided in this Section 2.5.1 shall be equal to the rate specified therein; or (3) such principal amount, or a lesser principal amount of Outstanding 1999-1 2000 Notes to be determined as set forth in Section 2.5 l(d)(ii)(C2.5.1 (d)(ii)(C) hereof, if the rate specified therein shall be higher than the Series Interest Rate and Sufficient Bids have not been made.

SERIES INTEREST RATE. SECTION 2.5.1. DETERMINING THE INTEREST RATE. By purchasing 19992000-1 I Notes, whether in an Auction or otherwise, each purchaser of the 19992000-1 I Notes, or its Broker-Dealer, must agree and shall be deemed by such purchase to have agreed (i) to participate in Auctions on the terms described herein, (ii) to have its beneficial ownership of the 19992000-I Notes maintained at all times in Book-Entry Form for the account of its Participant, which in turn will maintain records of such beneficial ownership and (iii) to authorize such Participant to disclose to the Auction Agent such information with respect to such beneficial ownership as the Auction Agent may request. So long as the ownership of a Series of 19992000-1 I Notes is maintained in Book-Entry Form, an Existing Note Owner may sell, transfer or otherwise dispose of 19992000-I Notes of such Series only pursuant to a Bid or Sell Order placed in an Auction or otherwise sell, transfer or dispose of 19992000-1 I Notes through a Broker-Dealer Dealer, provided that, in the case of all transfers other than pursuant to Auctions, such Existing Note Owner, Owner its Broker-Dealer or its Participant advises the Auction Agent of such transfer. transfer Auctions shall be conducted on each Auction Date, if there is an Auction Agent on such Auction Date, in the following manner (such procedures to be applicable separately to each Series of the 19992000-I Notes): (i) Prior to the Submission Deadline on each Auction Date relating to a Series of 19992000-I Notes: (A) each Existing Note Owner of the applicable Series of 19992000-I Notes may submit to a Broker-Dealer by telephone or otherwise any information as to: (1) the principal amount of Outstanding 19992000-I Notes of such Series, if any, owned by such Existing Note Owner which such Existing Note Owner desires to continue to own without regard to the Series Interest Rate for the next succeeding Auction Period; (2) the principal amount of Outstanding 19992000-I Notes of such Series Series, if any, which such Existing Note Owner offers to sell if the Series Interest Rate for the next succeeding Auction Period shall be less than the rate per annum specified by such Existing Note Owner; and/or (3) the principal amount of Outstanding 19992000-I Notes of such Series Series, if any, owned by such Existing Note Owner which such Existing Note Owner offers to sell without regard to the Series Interest Rate for the next succeeding Auction Period; and; (B) one or more Broker-Dealers may contact potential Note Owners' Owners to determine the principal amount of 19992000-1 I Notes of such Series which each potential Note Owner offers to purchase, if the Series Interest Rate for the next succeeding Auction Period shall not be less than the rate per annum specified by such potential Note Owner. The statement of an Existing Note Owner or a potential Note Owner referred to in (A) or (B) of this paragraph (i) is herein referred to as an "Order," and each Existing Note Owner and each potential Note Owner placing an Order is herein referred to as a "Bidder"; an order described in clause (A)(1) is herein referred to as a "Hold Order"; an Order described in clauses (A)(2) and (B) is herein referred to as a "Bid"; and an Order described in clause (A)(3) is herein referred to as a "Sell Order." (ii) (A) Subject to the provisions of Section 2.5. l(b2.5.l(b) hereof, a Bid by an Existing Note Owner shall constitute an irrevocable offer to sell: (1) the principal amount of Outstanding 19992000-I Notes specified in such Bid if the Series Interest Rate determined as provided in this Section 2.5.1 shall be less than the rate specified therein; or (2) such principal amount, amount or a lesser principal amount of Outstanding 19992000-I Notes to be determined as set forth in Section 2.5.l(d)(i)(D) hereof, if the Series Interest Rate determined as provided in this Section 2.5.1 shall be equal to the rate specified therein; or (3) such principal amount, amount or a lesser principal amount of Outstanding 19992000-1 I Notes to be determined as set forth in Section 2.5 l(d)(ii)(C2.5.1 (d)(ii)(C) hereof, if the rate specified therein shall be higher than the Series Interest Rate and Sufficient Bids have not been made.

SERIES INTEREST RATE. SECTION 2.5.1. DETERMINING THE INTEREST RATE. By purchasing 1999-1 1999 Notes, whether in an Auction or otherwise, each purchaser of the 1999-1 Notes, 1999 Notes or its Broker-Dealer, must agree and shall be deemed by such purchase to have agreed (i) to participate in Auctions on the terms described herein, (ii) to have its beneficial ownership of the 1999-I 1999 Notes maintained at all times in Book-Entry Form for the account of its Participant, which in turn will maintain records of such beneficial ownership and (iii) to authorize such Participant to disclose to the Auction Agent such information with respect to such beneficial ownership as the Auction Agent may request. So long as the ownership of a Series of 1999-1 1999 Notes is maintained in Book-Entry Form, an Existing Note Owner may sell, transfer or otherwise dispose of 1999-I 1999 Notes of such Series only pursuant to a Bid or Sell Order placed in an Auction or otherwise sell, transfer or dispose of 1999-1 1999 Notes through a Broker-Dealer Dealer, provided that, in the case of all transfers other than pursuant to Auctions, such Existing Note Owner, its Broker-Dealer or its Participant advises the Auction Agent of such transfer. Auctions shall be conducted on each Auction Date, if there is an Auction Agent on such Auction Date, in the following manner (such procedures to be applicable separately to each Series of the 1999-I 1999 Notes): (i) Prior to the Submission Deadline on each Auction Date relating to a Series of 1999-I 1999 Notes: (A) each Existing Note Owner of the applicable Series of 1999-I 1999 Notes may submit to a Broker-Dealer by telephone or otherwise any information as to: (1) the principal amount of Outstanding 1999-I 1999 Notes of such Series, if any, owned by such Existing Note Owner which such Existing Note Owner desires to continue to own without regard to the Series Interest Rate for the next succeeding Auction Period; (2) the principal amount of Outstanding 1999-I 1999 Notes of such Series Series, if any, which such Existing Note Owner offers to sell if the Series Interest Rate for the next succeeding Auction Period shall be less than the rate per annum specified by such Existing Note Owner; and/or (3) the principal amount of Outstanding 1999-I 1999 Notes of such Series if any, any owned by such Existing Note Owner which such Existing Note Owner offers to sell without regard to the Series Interest Rate for the next succeeding Auction Period; and (B) one or more Broker-Dealers may contact potential Note Owners' Owners to determine the principal amount of 1999-1 1999 Notes of such Series which each potential Note Owner offers to purchase, if the Series Interest Rate for the next succeeding Auction Period shall not be less than the rate per annum annum. specified by such potential Note Owner. The statement of an Existing Note Owner or a potential Note Owner referred to in (A) or (B) of this paragraph (i) is herein referred to as an "Order," and each Existing Note Owner and each potential Note Owner placing an Order is herein referred to as a "Bidder"; an order described in clause (A)(1) is herein referred to as a "Hold Order"; an Order described in clauses (A)(2) and (B) is herein referred to as a "Bid"; and an Order described in clause (A)(3) is herein referred to as a "Sell Order." (ii) (A) Subject to the provisions of Section 2.5. l(b2.5.1 (b) hereof, a Bid by an Existing Note Owner shall constitute an irrevocable offer to sell: (1) the principal amount of Outstanding 1999-I 1999 Notes specified in such Bid if the Series Interest Rate determined as provided in this Section 2.5.1 shall be less than the rate specified therein; or (2) such principal amount, or a lesser principal amount of Outstanding 1999-I 1999 Notes to be determined as set forth in Section 2.5.l(d)(i)(D2.5.1(d)(i)(D) hereof, if the Series Interest Rate determined as provided in this Section 2.5.1 shall be equal to the rate specified therein; or (3) such principal amount, or a lesser principal amount of Outstanding 1999-1 1999 Notes to be determined as set forth in Section 2.5 l(d)(ii)(C2.5.1 (d)(ii)(C) hereof, if the rate specified therein shall be higher than the Series Interest Rate and Sufficient Bids have not been made.