Examples of Series 2019 Note in a sentence
The Trustee shall notify the Company in writing of the Series 2019 Notes that have been selected for redemption and, in the case of any Series 2019 Note selected for partial purchase or redemption, the principal amount thereof to be purchased or redeemed.
Upon surrender of a Series 2019 Note that is redeemed in part, the Company shall issue and, upon the Company’s written request, the Trustee shall authenticate for the Holder at the expense of the Company, a new Series 2019 Note equal in principal amount to the unredeemed portion of the Series 2019 Notes surrendered; provided, however, that so long as the Series 2019 Notes are issued in the form of Global Securities as provided in Section 2.10.
The Issuer, by its acceptance and assignment of the Series 2019 Note and of its right, title and interest in and to the Financing Agreement (other than Unassigned Rights), authorizes the Trustee to execute and deliver the Joinder to the Collateral Trust Agreement.
As security in part for the payment of the Series 2019 Bonds, the Issuer will assign to the Trustee the Issuer’s rights under this Financing Agreement (except the Unassigned Issuer’s Rights) and under the Series 2019 Note, and the Issuer hereby directs the Company to make or cause the payments required hereunder to be made (except such payments for expenses and indemnification included in the Unassigned Issuer’s Rights) directly to the Trustee.
The rate of interest on each Series 2019 Note shall be 3.400% per annum, accruing from September 20, 2019 or from the most recent Interest Payment Date (as defined below) to which interest on such Series 2019 Note has been paid or duly provided for.
The interest so payable on a Series 2019 Note which is not punctually paid or duly provided for on any Interest Payment Date shall forthwith cease to be payable to the Person in whose name such Series 2019 Note is registered on the relevant Regular Record Date, and such defaulted interest shall instead be payable to the Person in whose name such Series 2019 Note is registered on the Special Record Date or other specified date determined in accordance with the Indenture.
Interest shall be payable in arrears on each Series 2019 Note semi-annually on January 15 and July 15 of each year (each an “Interest Payment Date”), commencing on July 15, 2020.
The Company acknowledges that it has no ownership interest in the moneys held in the funds and accounts maintained by the Trustee, and specifically, with respect to the Construction Fund, the Company acknowledges and agrees that advances under the Series 2019 Note will be funded from deposits held by the Trustee in the applicable subaccounts only upon delivery of a written requisition satisfying the terms and conditions of the Indenture.
The interest so payable on any Series 2019 Note which is punctually paid or duly provided for on any Interest Payment Date shall be paid to the Person in whose name such Series 2019 Note is registered at the close of business on the January 1 or July 1, as the case may be, preceding such January 15 or July 15, whether or not a Business Day (each a “Regular Record Date”).
The Issuer, by its acceptance of the Series 2019 Note, acknowledges the existence and applicability of the Security Documents (including, without limitation, the provisions providing for foreclosure and release of Collateral) as the same may be in effect or may be amended from time to time in accordance with their terms.