Specific Title and Terms Clause Samples

Specific Title and Terms. (a) The Bonds shall be entitled “Industrial Development Revenue Bonds (Ameron International Corporation Project), Series 2001.” The aggregate principal amount of the Bonds which may be authenticated and delivered and Outstanding is limited to $8,500,000. (b) The Bonds shall be issuable as registered bonds without coupons in Authorized Denominations. The Bonds shall be numbered separately from 1 upward. (c) The Bonds shall mature on April 1, 2021. (d) The Bonds shall be dated as of the date of initial delivery thereof and shall bear interest from such date, or the most recent date to which interest has been paid or duly provided for, at the applicable rate per annum set forth in this Article. (e) Each Bond shall bear interest at the Variable Rate or at a Term Rate, as provided in Sections 4.02 and 4.03. All Bonds shall initially bear interest at the Variable Rate, but the interest rate on any Bond or Bonds may from time to time be converted to a Term Rate under the terms and conditions specified in Section 4.03. The Trustee shall specify on each Bond certificate, in the space provided, whether the interest rate then in effect with respect to such Bond is the Variable Rate or a Term Rate. If a Term Rate is in effect with respect to a Bond, the Trustee shall also specify on the certificate for such Bond the Term Rate and the beginning and end of the Term Rate Period. (f) Interest at the Variable Rate and interest at a Term Rate for each Term Rate Period of less than 6 months shall be computed on the basis of a 365 or 366-day year, as the case may be, for the actual number of days elapsed. Interest at the Term Rate for each Term Rate Period of 6 months or more shall be computed on the basis of a 360-day year with 12 months of 30 days each. (g) Interest shall be payable on overdue principal on the Bonds and (to the extent legally enforceable) on any overdue installment of interest on the Bonds at the Post-Default Rate. (h) Interest shall be payable in arrears on the following dates (each such date being herein called an “Interest Payment Date”): (1) with respect to interest on any Bond payable at the Variable Rate, on (i) the first Business Day of each calendar month during the Variable Rate Period, beginning June 1, 2001 and (ii) the last day of any Variable Rate Period (each such date being herein called a “Variable Rate Interest Payment Date”); (2) with respect to interest on any Bond payable at a Term Rate for any Term Rate Period of less than 6 months, on ...