Cont. (part 1) - Laserfiche WebLink

Home Browse Search

(e) Service Charge With Respect to ARS. On each Interest Payment Date, the Trustee shall pay the Service Charge to the Auction Agent, on behalf of the Beneficial Owners of the Regular ARS and Newly Fixed AIRS, in immediately available funds out of amounts in the Interest Account, an amount determined in accordance with the Auction Agent Agreement. The method of calculating any fees owed hereunder at the Service Charge Rate may be modified by written agreement among the Trustee, the Auction Agent and the Market Agent. (f) Medium of Payment. (i) The principal of, premium, if any, and interest on each of the ARS and the IRS shall be payable in any currency of the United States of America which on the respective dates for payment thereof is legal tender for the payment of public and private debts. The principal of, premium, if any, and interest on each of the ARS and the IRS (other than at maturity) shall be payable by check, or by wire transfer if to DTC, mailed to the registered owner thereof on the Record Date or Redemption Record Date, as the case may be, at the address as it appears on the registration books maintained by the Trustee. So long as ownership of ARS and IRS is maintained in book-entry form by the Securities Depository, the registered owner of ARS and IRS shall be Cede & Co., as nominee for DTC. (ii) Interest payable on any Interest Payment Date to the registered owner of ARS and IRS in the aggregate principal amount of $1,000,000 or more may, upon written request by such registered owner received by the Trustee prior to the Record Date preceding such Interest Payment Date, be paid by wire transfer to a designated account in the United States. Such written request shall remain in effect until rescinded in writing by such registered owner. The principal of each ARS and IRS at maturity will be paid upon presentation and surrender thereof at the principal corporate trust office of the Trustee. Each Beneficial Owner of ARS, by the Beneficial Owner's purchase of ARS, appoints the Trustee as its agent in connection with the payment by such Beneficial Owner of its share of any Service Charge payable to the Auction Agent and Broker-Dealers pursuant to subsection (e) above, (iii) Unless otherwise requested by the Securities Depository, payments of (i) the principal of ARS, at maturity or upon redemption, and payments of interest on ARS made by wire transfer, shall be made by the Trustee in immediately available funds and (ii) principal of IRS at maturity or upon redemption, and payments of interest on IRS made by wire transfer, shall be made by the Trustee in immediately available funds; provided, however, that such method of payment may be modified by written agreement among the Trustee, Securities Depository and Auction Agent. (g) Computation of Interest Distributable on ARS and IRS. (i) The Trustee shall obtain from the Securities Depository a position listing showing, at the close of business on each Record Date, the aggregate outstanding principal LA1-63221.5 A-13