Date and Denomination of Notes. The Notes shall be issuable in ------------------------------ registered form without coupons in denominations of $100,000 and any multiple of $50,000 in excess thereof. Every Note shall be dated the date of its authentication and, except as provided in this Section, shall bear interest, payable semi-annually on May 15 and November 15 of each year, commencing on May 15, 1996, from the May 15 or November 15, as the case may be, next preceding the date of such Note to which interest has been paid or duly provided for, unless the date of such Note is the date to which interest has been paid or duly provided for, in which case from the date of such Note, or unless no interest has been paid or duly provided for on the Notes, in which case from December 13, 1995 until payment of the principal sum has been made or duly provided for. Notwithstanding the foregoing, when there is no existing default in the payment of interest on the Notes, all Notes authenticated by the Trustee after the close of business on the record date (as hereinafter defined) for any interest payment date (May 15 or November 15, as the case may be) and prior to such interest payment date shall be dated the date of authentication but shall bear interest from such interest payment date; provided, however, that if and to the extent that the Company shall -------- ------- default in the payment of interest due on such interest payment date then any such Note shall bear interest from the May 15 or November 15, as the case may be, next preceding the date of such Note to which interest has been paid or duly provided for, unless no interest has been paid or duly provided for on the Notes, in which case from December 13, 1995. Interest will be computed on the basis of a 360-day year of twelve 30-day months.
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Date and Denomination of Notes. The Notes shall be issuable in ------------------------------ registered form without coupons in denominations of $100,000 and any multiple of $50,000 in excess thereof. Every Note shall be dated the date of its authentication and, except as provided in this Section, shall bear interest, payable semi-annually on May 15 and November 15 of each year, commencing on May 15, 1996, from the May 15 or November 15, as the case may be, next preceding the date of such Note to which interest has been paid or duly provided for, unless the date of such Note is the date to which interest has been paid or duly provided for, in which case from the date of such Note, or unless no interest has been paid or duly provided for on the Notes, in which case from December 13, 1995 until payment of the principal sum has been made or duly provided for. Notwithstanding the foregoing, when there is no existing default in the payment of interest on the Notes, all Notes authenticated by the Trustee after the close of business on the record date (as hereinafter defined) for any interest payment date (May 15 or November 15, as the case may be) and prior to such interest payment date shall be dated the date of authentication but shall bear interest from such interest payment date; provided, however, that if and to the extent that the Company shall -------- ------- default in the payment of interest due on such interest payment date then any such Note shall bear interest from the May 15 or November 15, as the case may be, next preceding the date of such Note to which interest has been paid or duly provided for, unless no interest has been paid or duly provided for on the Notes, in which case from December 13, 1995. Interest will be computed on the basis of a 360-day year of twelve 30-day months.
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