Terms of Bonds. The Bonds shall be dated the Closing Date, shall mature on the dates and in the amounts, and shall bear interest (calculated on the basis of a 360- day year of twelve 30-day months) at the rates, as follows: Maturity Date (November 1) Principal Amount Interest Rate Per Annum Maturity Date (November 1) Principal Amount Interest Rate Per Annum * Insured Bonds The Bonds shall be delivered in fully registered form, numbered from one upwards in consecutive numerical order (with such alphabetical prefix as the Trustee shall determine). The Bonds shall be executed and delivered in the denominations of $5,000 and any integral multiple thereof. Each Bond shall bear interest from the Interest Payment Date next preceding the date of authentication thereof, unless (i) it is authenticated during the period from the day after the Record Date for an Interest Payment Date to and including such Interest Payment Date, in which event it shall bear interest from such Interest Payment Date, or (ii) it is authenticated on or prior to the Record Date for the first Interest Payment Date, in which event it shall bear interest from its dated date; provided, however, that if, at the time of registration of any Bond, interest with respect to such Bond is in default, such Bond shall bear interest from the Interest Payment Date to which interest has been paid or made available for payment with respect to such Bond. Interest with respect to any Bond shall be payable in lawful money of the United States of America on each Interest Payment Date to the Owner thereof as of the close of business on the Record Date. Subject to Section 2.11, interest on the Bonds shall be paid by check or draft of the Trustee, mailed by first class mail no later than the Interest Payment Date to the Owner at such Owner’s address as it appears, on such Record Date, on the Registration Books maintained by the Trustee; provided, however, that at the written request of the Owner of at least $1,000,000 in aggregate principal amount of Outstanding Bonds filed with the Trustee prior to any Record Date, interest on such Bonds shall be paid to such Owner on each succeeding Interest Payment Date (unless such request has been revoked in writing) by wire transfer of immediately available funds to an account in the United States designated in such written request. Payments of defaulted interest with respect to the Bonds shall be paid by check or draft to the Owners as of a special record date to be fixed by the Trustee, notice of which special record date shall be given to the Owners of the Bonds not less than ten days prior thereto. The principal of and premium, if any, on the Bonds are payable by check when due upon surrender thereof at the Trust Office in lawful money of the United States of America.
Appears in 1 contract
Samples: citydocs.cityoforange.org
Terms of Bonds. The Bonds shall be in substantially the form set forth in Exhibit A hereto with necessary or appropriate variations, omissions and insertions as permitted or required by this Indenture, including any Supplemental Indenture. The Bonds shall be issuable only as fully registered Bonds, without coupons, in the form of a single Bond for each series of the Bonds in the principal amount equal to the aggregate of the purchase price of the respective series of the Bonds advanced from time to time by the owner(s) of the Bonds (which principal amounts shall be, on the Closing Date, the amount referenced in Section 3.01(vii)). The Bonds shall be dated the Closing Date, Date and shall be subject to redemption prior to maturity as provided in Article IV. The Series C-1 Bonds shall mature on June 1, 2030, and the dates Series C-2 Bonds shall mature on June 1, 2016. Interest shall be paid on the Outstanding principal amount of the Series C-1 Bonds, from the Closing Date until the maturity date of the Series C-1 Bonds, on each Interest Payment Date occurring during such period, at a rate equal to, and calculated in the amountssame manner as, the interest payable on the Convertible Term Note. Interest shall be paid on the Outstanding principal amount of the Series C-2 Bonds, from the Closing Date until the maturity date of the Series C-2 Bonds, on each Interest Payment Date occurring during such period, at a rate equal to, and shall bear calculated in the same manner as, the interest (calculated payable on the basis of a 360- day year of twelve 30-day months) at the rates, as follows: Maturity Date (November 1) Principal Amount Interest Rate Per Annum Maturity Date (November 1) Principal Amount Interest Rate Per Annum * Insured Bonds The Bonds shall be delivered in fully registered form, numbered from one upwards in consecutive numerical order (with such alphabetical prefix as the Trustee shall determine). The Bonds shall be executed and delivered in the denominations of $5,000 and any integral multiple thereofConstruction Note. Each Bond shall bear interest from the Interest Payment Date date to which interest has been paid on the Bonds next preceding the date of authentication thereofits authentication, unless (i) it is authenticated during the period from the day after the Record Date for as of an Interest Payment Date to and including such Interest Payment Datefor which interest has been paid, in which event it shall bear interest from such Interest Payment Date, or (ii) unless it is authenticated on or prior to the Record Date for before the first Interest Payment Date, in which event it shall bear interest from its dated date; providedthe Closing Date. The payment or prepayment of principal of and interest or premium, howeverif any, that if, at the time of registration of any Bond, interest with respect to such Bond is in default, such Bond shall bear interest from the Interest Payment Date to which interest has been paid or made available for payment with respect to such Bond. Interest with respect to any Bond shall be payable in lawful money of the United States of America on each Interest Payment Date to the Owner thereof as respective series of the close of business on the Record Date. Subject to Section 2.11, interest on the Bonds shall be paid by check or draft of the Trustee, mailed by first class mail no later than the Interest Payment Date to the Owner at such Owner’s address as it appears, on such Record Date, identical with and shall be made on the Registration Books maintained by same terms and conditions as the Trustee; provided, however, that at the written request payment of the Owner of at least $1,000,000 in aggregate principal amount of Outstanding Bonds filed with the Trustee prior to any Record Date, interest on such Bonds shall be paid to such Owner on each succeeding Interest Payment Date (unless such request has been revoked in writing) by wire transfer of immediately available funds to an account in the United States designated in such written request. Payments of defaulted interest with respect to the Bonds shall be paid by check or draft to the Owners as of a special record date to be fixed by the Trustee, notice of which special record date shall be given to the Owners of the Bonds not less than ten days prior thereto. The principal of and interest or premium, if any, on the corresponding Note, as determined in accordance with the Loan Agreement and such Note. Any payment or prepayment made by the Borrower of principal and interest or premium, if any, on the Convertible Term Note shall be deemed to be like payments or prepayments of principal and interest or premium, if any, on the Series C-1 Bonds. Any payment or prepayment made by the Borrower of principal and interest or premium, if any, on the Construction Note shall be deemed to be like payments or prepayments of principal and interest or premium, if any, on the Series C-2 Bonds. Payments or prepayments actually made by the Borrower to the Bondowner Representative shall be deemed to have been constructively received by the Holder as payments or prepayments on the Bonds on the date of receipt of such payments by the Bondowner Representative, and interest with respect to each principal payment or prepayment shall cease to accrue upon receipt of such payment by the Bondowner Representative. Payments or prepayments of principal, interest or premium, if any, shall be remitted immediately by the Bondowner Representative to the Holder. The Issuer hereby acknowledges that the Borrower is obligated to pay late fees, loan related fees and other charges under the Notes (and as otherwise provided in the Loan Agreement) to the Bondowner Representative, which amounts are payable by check when due upon surrender thereof at paid for the Trust Office in lawful money benefit of the United States of AmericaBondowner Representative and shall be retained by the Bondowner Representative for its own account.
Appears in 1 contract
Terms of Bonds. The Bonds shall be in substantially the form set forth in Exhibit A hereto with necessary or appropriate variations, omissions and insertions as permitted or required by this Indenture, including any Supplemental Indenture. The Bonds shall be issuable only as fully registered Bonds, without coupons, in the form of a single Bond in the principal amount equal to the aggregate of the purchase price of the Bonds advanced from time to time by the owner(s) of the Bonds (which principal amounts shall be, on the Closing Date, the amount referenced in Section 3.01(vii)). The Bonds shall be dated the Closing Date, Date and shall be subject to redemption prior to maturity as provided in Article IV. The Bonds shall mature on the dates Maturity Date. Interest shall be paid on the Outstanding principal amount of the Bonds, from the Closing Date until the maturity date of the Bonds, on each Interest Payment Date occurring during such period, at a rate equal to, and calculated in the amountssame manner as, and shall bear the interest (calculated payable on the basis of a 360- day year of twelve 30-day months) at the rates, as follows: Maturity Date (November 1) Principal Amount Interest Rate Per Annum Maturity Date (November 1) Principal Amount Interest Rate Per Annum * Insured Bonds The Bonds shall be delivered in fully registered form, numbered from one upwards in consecutive numerical order (with such alphabetical prefix as the Trustee shall determine). The Bonds shall be executed and delivered in the denominations of $5,000 and any integral multiple thereofNote. Each Bond shall bear interest from the Interest Payment Date date to which interest has been paid on the Bonds next preceding the date of authentication thereofits authentication, unless (i) it is authenticated during the period from the day after the Record Date for as of an Interest Payment Date to and including such Interest Payment Datefor which interest has been paid, in which event it shall bear interest from such Interest Payment Date, or (ii) unless it is authenticated on or prior to the Record Date for before the first Interest Payment Date, in which event it shall bear interest from its dated date; provided, however, that if, at the time of registration of any Bond, interest with respect to such Bond is in default, such Bond shall bear interest from the Interest Payment Date to which interest has been paid or made available for payment with respect to such Bond. Interest with respect to any Bond shall be payable in lawful money of the United States of America on each Interest Payment Date to the Owner thereof as of the close of business on the Record Closing Date. Subject to Section 2.11, The payment or prepayment of principal of and interest on the Bonds shall be paid identical with and shall be made on the same terms and conditions as the payment of principal of and interest on the Note, as determined in accordance with the Loan Agreement and the Note. Any payment or prepayment made by check the Borrow er of principal and interest on the Note shall be deemed to be like payments or draft prepayments of principal and interest on the Trustee, mailed Bonds. Payments or prepayments actually made by first class mail no later than the Interest Payment Date Borrower to the Owner at such Owner’s address Bondowner Representative shall be deemed to have been constructively received by the Holder as it appears, on such Record Date, payments or prepayments on the Registration Books maintained Bonds on the date of receipt of such payments by the Trustee; providedBondowner Representative, however, that at the written request of the Owner of at least $1,000,000 in aggregate principal amount of Outstanding Bonds filed with the Trustee prior to any Record Date, interest on such Bonds shall be paid to such Owner on each succeeding Interest Payment Date (unless such request has been revoked in writing) by wire transfer of immediately available funds to an account in the United States designated in such written request. Payments of defaulted and interest with respect to each principal payment or prepayment shall cease to accrue upon receipt of such payment by the Bonds Bondowner Representative. Payments or prepayments of principal or interest shall be paid remitted immediately by check or draft the Bondowner Representative to the Owners Holder. The Issuer hereby acknowledges that the Borrow er is obligated to pay late fees, loan related fees and other charges under the Note (and as otherw ise provided in the Loan Agreement) to the Bondowner Representative, which amounts are paid for the benefit of a special record date to the Bondowner Representative and shall be fixed retained by the Trustee, notice of which special record date shall be given to the Owners of the Bonds not less than ten days prior thereto. The principal of and premium, if any, on the Bonds are payable by check when due upon surrender thereof at the Trust Office in lawful money of the United States of AmericaBondowner Representative for its own account.
Appears in 1 contract
Samples: Construction Loan Agreement
Terms of Bonds. The Bonds shall be in substantially the form set forth in Exhibit A hereto with necessary or appropriate variations, omissions and insertions as permitted or required by this Indenture, including any supplemental indenture. The Bonds shall be issuable only as fully registered Bonds, without coupons, in the form of a single Bond in the principal amount equal to the aggregate of the purchase price of the Bonds advanced from time to time by the owners of the Bonds (which principal amount shall be, on the Closing Date, equal to the amount of the Initial Disbursement, and with any subsequent advances subject to the provisions of Section 3.03(e)). In connection with any transfer of Bonds in accordance with the requirements of Section 2.05, the Bonds may be in Authorized Denominations. The Bonds shall be dated the Closing Date, shall mature on __________ 1, ____, and shall be subject to redemption prior to maturity as provided in Article IV. The Bonds shall bear interest on the principal amount of the Bonds Outstanding, payable on each Interest Payment Date, at the same rate of interest in effect from time to time on the Note, computed in the same manner as interest is computed from time to time on the Note. The principal of the Bonds shall be payable in installments on the same dates and in the amounts, and shall bear interest (calculated same amounts as is the principal payable on the basis of a 360- day year of twelve 30-day months) at the ratesLoan, as follows: Maturity Date (November 1) Principal Amount Interest Rate Per Annum Maturity Date (November 1) Principal Amount Interest Rate Per Annum * Insured Bonds The Bonds shall be delivered in fully registered form, numbered from one upwards in consecutive numerical order (with such alphabetical prefix as evidenced by the Trustee shall determine). The Bonds shall be executed and delivered in the denominations of $5,000 and any integral multiple thereofNote. Each Bond shall bear interest from the Interest Payment Date date to which interest has been paid on the Bonds next preceding the date of authentication thereofits authentication, unless (i) it is authenticated during the period from the day after the Record Date for as of an Interest Payment Date to and including such Interest Payment Datefor which interest has been paid, in which event it shall bear interest from such Interest Payment Date, or (ii) unless it is authenticated on or prior to the Record Date for before the first Interest Payment Date, in which event it shall bear interest from its dated date; provided, however, that if, at the time of registration of any Bond, interest with respect to such Bond is in default, such Bond shall bear interest from the Interest Payment Date to which interest has been paid or made available for payment with respect to such Bond. Interest with respect to any Bond shall be payable in lawful money of the United States of America on each Interest Payment Date to the Owner thereof as of the close of business on the Record Closing Date. Subject to Section 2.11The payment or prepayment of principal of and interest or Premium, interest if any, on the Bonds shall be paid by check or draft of the Trustee, mailed by first class mail no later than the Interest Payment Date to the Owner at such Owner’s address as it appears, on such Record Date, identical with and shall be made on the Registration Books maintained by same terms and conditions as the Trustee; provided, however, that at the written request of the Owner of at least $1,000,000 in aggregate principal amount of Outstanding Bonds filed with the Trustee prior to any Record Date, interest on such Bonds shall be paid to such Owner on each succeeding Interest Payment Date (unless such request has been revoked in writing) by wire transfer of immediately available funds to an account in the United States designated in such written request. Payments of defaulted interest with respect to the Bonds shall be paid by check or draft to the Owners as of a special record date to be fixed by the Trustee, notice of which special record date shall be given to the Owners of the Bonds not less than ten days prior thereto. The principal of and interest or premium, if any, on the Note, as determined in accordance with the Loan Agreement. Any payment or prepayment made by the Borrower of principal and interest or premium, if any, on the Note shall be deemed to be like payments or prepayments of principal and interest or Premium, if any, on the Bonds. Payments or prepayments actually made by the Borrower to the Bondowner Representative shall be deemed to have been constructively received by the Holder(s) as payments or prepayments on the Bonds on the date of receipt of such payments by the Bondowner Representative, and interest with respect to each principal payment or prepayment shall cease to accrue upon receipt of such payment by the Bondowner Representative. Payments or prepayments of principal, interest or Premium, if any, shall be remitted immediately by the Bondowner Representative to the Holder(s). The Issuer hereby acknowledges that the Borrower is obligated to pay late fees and other charges (including without limitation prepayment penalties) under the Note (and as otherwise provided in the Loan Documents) to the Bondowner Representative, which amounts are payable by check when due upon surrender thereof at paid for the Trust Office in lawful money benefit of the United States of AmericaBondowner Representative and shall be retained by the Bondowner Representative for its own account and shall not be construed in any event to be interest on the Bonds.
Appears in 1 contract
Samples: 64.166.146.245
Terms of Bonds. The Bonds shall be in substantially the form set forth in Exhibit A hereto with necessary or appropriate variations, omissions and insertions as permitted or required by this Indenture, including any Supplemental Indenture. The Bonds shall be issuable only as fully registered Bonds, without coupons, in the form of a single Bond for each series of the Bonds in the principal amount equal to the aggregate of the purchase price of the respective series of the Bonds advanced from time to time by the owner(s) of the Bonds (which principal amounts shall be, on the Closing Date, an amount equal to the Initial Disbursement). The Bonds shall be dated the Closing Date, Date and shall be subject to redemption prior to maturity as provided in Article IV. The Series A-1 Bonds shall mature on the dates and in the amounts1, , and the Series A-2 Bonds shall bear mature on 1, . Interest shall be paid on the Outstanding principal amount of the Series A-1 Bonds, from the Closing Date until the maturity date of the Series A-1 Bonds, on each Interest Payment Date occurring during such period, at the rate of interest (per annum payable on Note A-1 during such period, calculated on such basis as is provided in Note A-1. Interest shall be paid on the basis Outstanding principal amount of a 360- day year the Series A-2 Bonds, from the Closing Date until the maturity date of twelve 30-day months) the Series A-2 Bonds, on each Interest Payment Date occurring during such period, at the ratesrate of interest per annum payable on Note A-2 during such period, calculated on such basis as follows: Maturity Date (November 1) Principal Amount Interest Rate Per Annum Maturity Date (November 1) Principal Amount Interest Rate Per Annum * Insured Bonds The Bonds shall be delivered is provided in fully registered form, numbered from one upwards in consecutive numerical order (with such alphabetical prefix as the Trustee shall determine). The Bonds shall be executed and delivered in the denominations of $5,000 and any integral multiple thereofNote A-2. Each Bond shall bear interest from the Interest Payment Date date to which interest has been paid on the Bonds next preceding the date of authentication thereofits authentication, unless (i) it is authenticated during the period from the day after the Record Date for as of an Interest Payment Date to and including such Interest Payment Datefor which interest has been paid, in which event it shall bear interest from such Interest Payment Date, or (ii) unless it is authenticated on or prior to the Record Date for before the first Interest Payment Date, in which event it shall bear interest from its dated date; provided, however, that if, at the time of registration of any Bond, interest with respect to such Bond is in default, such Bond shall bear interest from the Interest Payment Date to which interest has been paid or made available for payment with respect to such Bond. Interest with respect to any Bond shall be payable in lawful money of the United States of America on each Interest Payment Date to the Owner thereof as of the close of business on the Record Closing Date. Subject to Section 2.11, interest on the Bonds shall be paid by check The payment or draft prepayment of the Trustee, mailed by first class mail no later than the Interest Payment Date to the Owner at such Owner’s address as it appears, on such Record Date, on the Registration Books maintained by the Trustee; provided, however, that at the written request of the Owner of at least $1,000,000 in aggregate principal amount of Outstanding Bonds filed with the Trustee prior to any Record Date, interest on such Bonds shall be paid to such Owner on each succeeding Interest Payment Date (unless such request has been revoked in writing) by wire transfer of immediately available funds to an account in the United States designated in such written request. Payments of defaulted interest with respect to the Bonds shall be paid by check or draft to the Owners as of a special record date to be fixed by the Trustee, notice of which special record date shall be given to the Owners of the Bonds not less than ten days prior thereto. The principal of and interest or premium, if any, on the Series A-1 Bonds shall be identical with and shall be made on the same terms and conditions as the principal of and interest or premium, if any, on Note A-1, as determined in accordance with the Loan Agreement. Any payment or prepayment made by the Borrower of principal and interest or premium, if any, on Note A-1 shall be deemed to be like payments or prepayments of principal and interest or premium, if any, on the Series A-1 Bonds. The payment or prepayment of principal of and interest or premium, if any, on the Series A-2 Bonds shall be identical with and shall be made on the same terms and conditions as the principal of and interest or premium, if any, on Note A-2, as determined in accordance with the Loan Agreement. Any payment or prepayment made by the Borrower of principal and interest or premium, if any, on Note A-2 shall be deemed to be like payments or prepayments of principal and interest or premium, if any, on the Series A-2 Bonds. Payments or prepayments actually made by the Borrower to the Bondowner Representative shall be deemed to have been constructively received by the Holder as payments or prepayments on the Bonds on the date of receipt of such payments by the Bondowner Representative, and interest with respect to each principal payment or prepayment shall cease to accrue upon receipt of such payment by the Bondowner Representative. Payments or prepayments of principal, interest or premium, if any, shall be remitted immediately by the Bondowner Representative to the Holder. The Issuer hereby acknowledges that the Borrower is obligated to pay late fees, loan related fees and other charges (including, without limitation, late charges, default interest and prepayment penalties) under the Notes (and as otherwise provided in the Loan Agreement and the Disbursement Agreement) to the Bondowner Representative, which amounts are payable by check when due upon surrender thereof at paid for the Trust Office in lawful money benefit of the United States of AmericaBondowner Representative and shall be retained by the Bondowner Representative for its own account.
Appears in 1 contract
Samples: Loan Agreement
Terms of Bonds. The Bonds shall be in substantially the form set forth in Exhibit A hereto with necessary or appropriate variations, omissions and insertions as permitted or required by this Indenture, including any Supplemental Indenture. The Bonds shall be issuable only as fully registered Bonds, without coupons, in the form of a single Bond in the principal amount equal to the aggregate of the purchase price of the Bonds advanced from time to time by the owner(s) of the Bonds (which principal amounts shall be, on the Closing Date, the amount referenced in Section 3.01(vii)). The Bonds shall be dated the Closing Date, Date and shall be subject to redemption prior to maturity as provided in Article IV. The Bonds shall mature on the dates Maturity Date. Interest shall be paid on the Outstanding principal amount of the Bonds, from the Closing Date until the maturity date of the Bonds, on each Interest Payment Date occurring during such period, at a rate equal to, and calculated in the amountssame manner as, and shall bear the interest (calculated payable on the basis of a 360- day year of twelve 30-day months) at the rates, as follows: Maturity Date (November 1) Principal Amount Interest Rate Per Annum Maturity Date (November 1) Principal Amount Interest Rate Per Annum * Insured Bonds The Bonds shall be delivered in fully registered form, numbered from one upwards in consecutive numerical order (with such alphabetical prefix as the Trustee shall determine). The Bonds shall be executed and delivered in the denominations of $5,000 and any integral multiple thereofNote. Each Bond shall bear interest from the Interest Payment Date date to which interest has been paid on the Bonds next preceding the date of authentication thereofits authentication, unless (i) it is authenticated during the period from the day after the Record Date for as of an Interest Payment Date to and including such Interest Payment Datefor which interest has been paid, in which event it shall bear interest from such Interest Payment Date, or (ii) unless it is authenticated on or prior to the Record Date for before the first Interest Payment Date, in which event it shall bear interest from its dated date; provided, however, that if, at the time of registration of any Bond, interest with respect to such Bond is in default, such Bond shall bear interest from the Interest Payment Date to which interest has been paid or made available for payment with respect to such Bond. Interest with respect to any Bond shall be payable in lawful money of the United States of America on each Interest Payment Date to the Owner thereof as of the close of business on the Record Closing Date. Subject to Section 2.11, The payment or prepayment of principal of and interest on the Bonds shall be paid identical with and shall be made on the same terms and conditions as the payment of principal of and interest on the Note, as determined in accordance with the Loan Agreement and the Note. Any payment or prepayment made by check the Borrower of principal and interest on the Note shall be deemed to be like payments or draft prepayments of principal and interest on the Trustee, mailed Bonds. Payments or prepayments actually made by first class mail no later than the Interest Payment Date Borrower to the Owner at such Owner’s address Bondowner Representative shall be deemed to have been constructively received by the Holder as it appears, on such Record Date, payments or prepayments on the Registration Books maintained Bonds on the date of receipt of such payments by the Trustee; providedBondowner Representative, however, that at the written request of the Owner of at least $1,000,000 in aggregate principal amount of Outstanding Bonds filed with the Trustee prior to any Record Date, interest on such Bonds shall be paid to such Owner on each succeeding Interest Payment Date (unless such request has been revoked in writing) by wire transfer of immediately available funds to an account in the United States designated in such written request. Payments of defaulted and interest with respect to each principal payment or prepayment shall cease to accrue upon receipt of such payment by the Bonds Bondowner Representative. Payments or prepayments of principal or interest shall be paid remitted immediately by check or draft the Bondowner Representative to the Owners Holder. The Issuer hereby acknowledges that the Borrower is obligated to pay late fees, loan related fees and other charges under the Note (and as otherwise provided in the Loan Agreement) to the Bondowner Representative, which amounts are paid for the benefit of a special record date to the Bondowner Representative and shall be fixed retained by the Trustee, notice of which special record date shall be given to the Owners of the Bonds not less than ten days prior thereto. The principal of and premium, if any, on the Bonds are payable by check when due upon surrender thereof at the Trust Office in lawful money of the United States of AmericaBondowner Representative for its own account.
Appears in 1 contract
Samples: 64.166.146.245
Terms of Bonds. The Bonds shall be dated as of the Closing Date, and shall be issued in fully registered form without coupons in the denomination of $5,000 or any integral multiple thereof. The Bonds shall mature on the dates and in the amounts, and shall bear interest (calculated on the basis of a 360- 360-day year of twelve 30-day months) at the rates, rate per annum as follows: Maturity Date (November September 1) Principal Amount Interest Rate Per Annum Maturity [To Come] Interest on the Bonds (including the final interest payment upon maturity or earlier redemption) shall be payable on each Interest Payment Date to the person whose name appears on the Registration Books as the Owner thereof as of the Record Date immediately preceding each such Interest Payment Date, such interest to be paid by check of the Trustee mailed by first class mail, postage prepaid, on the Interest Payment Date, to such Owner at the address of such Owner as it appears on the Registration Books as of such Record Date; provided however, that payment of interest may be by wire transfer to an account in the United States of America to any registered owner of Bonds in the aggregate principal amount of $1,000,000 or more who shall furnish written wire instructions to the Trustee prior to the applicable Record Date. Principal of and redemption premium (November 1if any) on any Bond shall be paid upon presentation and surrender thereof, at maturity, at the Principal Amount Interest Rate Per Annum * Insured Bonds The Corporate Trust Office of the Trustee. Both the principal of and interest and premium (if any) on the Bonds shall be delivered payable in fully registered form, numbered from one upwards in consecutive numerical order (with such alphabetical prefix as lawful money of the Trustee shall determine). The Bonds shall be executed and delivered in the denominations United States of $5,000 and any integral multiple thereofAmerica. Each Bond shall bear interest from the Interest Payment Date next preceding the date of authentication thereof, unless (ia) it is authenticated during the period from the day after the a Record Date for an Interest Payment Date to and including such on or before the following Interest Payment Date, in which event it shall bear interest from such Interest Payment Date, ; or (iib) it a Bond is authenticated on or prior to the Record Date for before the first Interest Payment Record Date, in which event it shall bear interest from its dated datethe Closing Date; provided, however, that if, at as of the time date of registration authentication of any Bond, interest with respect to such Bond thereon is in default, such Bond shall bear interest from the Interest Payment Date to which interest has previously been paid or made available for payment with respect to such Bond. Interest with respect to any Bond shall be payable in lawful money of the United States of America on each Interest Payment Date to the Owner thereof as of the close of business on the Record Date. Subject to Section 2.11, interest on the Bonds shall be paid by check or draft of the Trustee, mailed by first class mail no later than the Interest Payment Date to the Owner at such Owner’s address as it appears, on such Record Date, on the Registration Books maintained by the Trustee; provided, however, that at the written request of the Owner of at least $1,000,000 in aggregate principal amount of Outstanding Bonds filed with the Trustee prior to any Record Date, interest on such Bonds shall be paid to such Owner on each succeeding Interest Payment Date (unless such request has been revoked in writing) by wire transfer of immediately available funds to an account in the United States designated in such written request. Payments of defaulted interest with respect to the Bonds shall be paid by check or draft to the Owners as of a special record date to be fixed by the Trustee, notice of which special record date shall be given to the Owners of the Bonds not less than ten days prior thereto. The principal of and premium, if any, on the Bonds are payable by check when due upon surrender thereof at the Trust Office in lawful money of the United States of Americathereon.
Appears in 1 contract
Samples: www.palmspringsca.gov
Terms of Bonds. The Bonds shall be dated the Closing Date, shall mature on the dates and in the amounts, and shall bear interest (calculated on the basis of a 360- 360-day year of twelve 30-day months) at the rates, rates per annum as follows: Maturity Date (November December 1) Principal Amount Interest Rate Per Annum Maturity Date (November 1) Principal Amount Interest Rate Per Annum * Insured Bonds The Bonds shall be delivered in fully registered form, numbered from one upwards in consecutive numerical order (with such alphabetical prefix as the Trustee shall determine). The Bonds shall be executed and delivered in the denominations of $5,000 and any integral multiple thereof. Each Bond shall bear interest from the Interest Payment Date next preceding the date of authentication thereof, unless (i) it is authenticated during the period from the day after the Record Date for an Interest Payment Date to and including such Interest Payment Date, in which event it shall bear interest from such Interest Payment Date, or (ii) it is authenticated on or prior to the Record Date for the first Interest Payment Date, in which event it shall bear interest from its dated dateJune , 2017; provided, however, that if, at the time of registration authentication of any Bond, Bond interest with respect to such Bond is in default, such Bond shall bear interest from the Interest Payment Date to which interest has been paid or made available for payment with respect to such Bond. Interest with respect to any Bond shall be payable in lawful money of the United States of America on each Interest Payment Date to the Owner thereof as of the close of business on the Record Date. Subject , such interest to Section 2.11, interest on the Bonds shall be paid by check or draft of the Trustee, mailed by first class mail no later than the Interest Payment Date to the Owner at such Owner’s his address as it appears, on such Record Date, on the Registration Books maintained by the Trustee; provided, however, that at the written request of the Owner of at least $1,000,000 in aggregate principal amount of Outstanding Bonds filed with the Trustee prior to any Record Date, interest on such Bonds shall be paid to such Owner on each succeeding Interest Payment Date (unless such request has been revoked in writing) by wire transfer of immediately available funds to an account in the United States designated in such written request. Payments of defaulted interest with respect to the Bonds shall be paid by check or draft to the registered Owners of the Bonds as of a special record date to be fixed by the Trustee, notice of which special record date shall be given to the registered Owners of the Bonds not less than ten days prior thereto. The principal of and premium, if any, on the Bonds are payable by check when due upon surrender thereof at the Trust Office in lawful money of the United States of America.
Appears in 1 contract
Samples: Indenture