THE DETROIT EDISON Sample Clauses

THE DETROIT EDISON. COMPANY (hereinafter called the "Company"), a corporation of the State of Michigan, for value received, hereby promises to pay to the Michigan Strategic Fund, or registered assigns, at the Company's office or agency in the Borough of Manhattan, The City and State of New York, the principal sum of dollars ($ ) in lawful money of the United States of America on the date specified in the title hereof and interest thereon in like lawful money, on such date or dates in each case as provided for in the Trust Indenture, dated as of August 1, 1999 (hereinafter called the "Strategic Fund Trust Indenture"), between the Michigan Strategic Fund (hereinafter called the "Strategic Fund") and Bank One Trust Company, NA, as trustee (hereinafter "Strategic Fund Trust Indenture Trustee"). This bond of 1999 Series BP shall bear interest at a maximum rate of 15% per annum (unless such maximum rate shall be increased by resolution of the Company's Board of Directors as set forth in an additional Supplemental Indenture between the Company and the Trustee), until the Company's obligation with respect to payment of said principal shall have been discharged, all as provided, to the extent and in the manner specified in the Indenture hereinafter mentioned on the reverse hereof and in the supplemental indenture pursuant to which this bond has been issued or until such time as the bonds of 1999 Series BP shall be revoked pursuant to the terms of the Strategic Fund Trust Indenture, in which event all principal shall be deemed to be discharged within the meaning of the Indenture. Under the Strategic Fund Trust Indenture, the Strategic Fund has issued Variable Rate Demand Limited Obligation Refunding Revenue Bonds (The Detroit Edison Company Pollution Control Bonds Project), Collateralized Series 1999B (hereinafter called the "Strategic Fund Revenue Bonds"). This bond was originally issued to the Strategic Fund and simultaneously assigned to the Strategic Fund Trust Indenture Trustee so as to secure the payment of the Strategic Fund Revenue Bonds. Such assignment shall be irrevocable except as provided in the Indenture. Payments of principal of, or premium, if any, or interest on, Strategic Fund Revenue Bonds shall constitute like payments on this bond as further provided herein and in the supplemental indenture pursuant to which this bond has been issued. The Company may elect to revoke the bonds of 1999 Series BP pursuant to the terms of the Strategic Fund Trust Indenture. Reference i...
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THE DETROIT EDISON. COMPANY (hereinafter called the "Company"), a corporation of the State of Michigan, for value received, hereby promises to pay to Comerica Bank, as trustee, or registered assigns, at the Company's office or agency in the Borough of Manhattan, The City and State of New York, the principal sum of dollars ($ ) in lawful money of the United States of America on the date specified in the title hereof and interest thereon at the rate specified in the title hereof, in like lawful money, from December 1, 1994, and after the first payment of interest on bonds of this Series has been made or otherwise provided for, from the most recent date to which interest has been paid or otherwise provided for, semi-annually on March 1 and September 1 of each year (commencing March 1, 1995), until the Company's obligation with respect to payment of said principal shall have been discharged, all as provided, to the extent and in the manner specified in the Indenture hereinafter mentioned on the reverse hereof and in the supplemental indenture pursuant to which this bond has been issued.
Sample 1
THE DETROIT EDISON. COMPANY (hereinafter called the "Company"), a corporation of the State of Michigan, for value received, hereby promises to pay to Ambac Assurance Corporation, or registered assigns, at the Company's office or agency in the Borough of Manhattan, The City and State of New York, the principal sum of Thirty-one million dollars ($31,000,000) in lawful money of the United States of America on the date specified in the title hereof and interest thereon at the rate specified in the title hereof, in like lawful money, from March 26, 2001, and after the first payment of interest on bonds of this Series has been made or otherwise provided for, from the most recent date to which interest has been paid or otherwise provided for, semi-annually on April 1 and October 1 of each year (commencing April 1, 2001), until April 1, 2011, the date the Company's obligations with respect to the Long Term Interest Rate Mode ending April 1, 2011 shall have been discharged, all as provided, to the extent and in the manner specified in the Indenture hereinafter mentioned on the reverse hereof and in the supplemental indenture pursuant to which this bond has been issued. In the event that AMBAC shall make a payment of interest or purchase price with respect to the Series 1992-CC Bonds, then, the interest rate on any amounts so paid shall be the prime rate announced by Citibank, N.A., from time to time, plus 2% per annum, and such rate shall continue until such time as the Company shall reimburse Ambac for any payments so paid.
Sample 1
THE DETROIT EDISON. COMPANY (hereinafter called the "Company"), a corporation of the State of Michigan, for value received, hereby promises to pay to Manufacturers National Bank of Detroit, as trustee, or registered assigns, at the Company's office or agency in the Borough of Manhattan, The City and State of New York, the principal sum of dollars ($ ) in lawful money of the United States of America on the date specified in the title hereof and interest thereon at the rate specified in the title hereof, in like lawful money, from December 1, 1989, and after the first payment of interest on bonds of this Series has been made or otherwise provided for, from the most recent date to which interest has been paid or otherwise provided for, semi-annually on March 1 and September 1 of each year (commencing March 1, 1990), until the Company's obligation with respect to payment of said principal shall have been discharged, all as provided, to the extent and in the manner specified in the Indenture hereinafter mentioned on the reverse hereof and in the supplemental indenture pursuant to which this bond has been issued.
Sample 1

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