Common use of Issuance in Series Clause in Contracts

Issuance in Series. The aggregate principal amount of Notes which may be authenticated and delivered under this Indenture is $20,000,000. The Notes issued hereunder may be issued in one or more series. The Notes of each series may bear such designations, which may or may not include the term "Note", and may have such terms, respectively (including, without limitation, additional covenants and changes in or eliminations of covenants set forth in this Indenture), as shall be approved prior to the authentication thereof by or pursuant to a Board Resolution; provided, however, that no Notes of any series shall be senior in right of payment to any Notes of any other series. With respect to any Notes to be authenticated and delivered hereunder, there shall be established in or pursuant to a Board Resolution and, subject to Section 2.14, set forth, or determined in the manner provided, in an Officers' Certificate, or established in one or more indentures supplemental hereto, prior to the issuance of Notes of any series, (1) the title of the Notes of the series (which shall distinguish the Notes of the series from Notes of any other series); (2) any limit upon the aggregate principal amount of the Notes of the series which may be authenticated and delivered under this Indenture (except for Notes authenticated and delivered upon registration or transfer of, or in exchange for, or in lieu of, other Notes of such series and except for any Notes which are deemed never to have been authenticated and delivered hereunder); (3) the Person to whom any interest on a Note of the series shall be payable, if other than the Person in whose name that Note (or one or more predecessor Notes) is registered at the close of business on the Record Date for such interest; (4) the date or dates, or the method or methods, if any, by which such date or dates shall be determined, on which the principal of such Notes is payable;