Agenda - Council - 04/27/2010 - Laserfiche WebLink

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Trustee to pay the purchase price of the Bonds delivered to it for purchase and not remarketed, plus (b) an amount equal to fifty (50) days' accrued interest on the Outstanding Bonds assuming an interest rate of 10% per annum for the Bonds. During the Letter of Credit Period (as defined in the Indenture), upon the expiration of the Letter of Credit and of any Letter of Credit delivered in substitution or replacement thereof, the Company is required to provide another letter of credit having terms substantially similar to the Letter of Credit. [6] Interest on the Bonds shall be payable on the first Business Day of each month, commencing on August 1, 2005, during the Variable Rate Period, and on the Fixed Rate Conversion Date (as defined in the Indenture) or the date of payment in full of this Bond if no Fixed Rate Conversion Date shall occur (each a "Variable Rate Interest Payment Date"), and, on June 1 or December 1 next succeeding the Fixed Rate Conversion Date, and on each June 1 and December 1 thereafter (each a "Fixed Rate Interest Payment Date") until payment in full of this Bond on December 1, 2023. [7] Prior to the Fixed Rate Conversion Date, this Bond shall bear interest at the Variable Rate as defined in the Indenture (the "Variable Rate"); provided that in no event shall the Variable Rate exceed ten percent (10%) per annum. [8] On and after the Fixed Rate Conversion Date this Bond shall bear interest at the Fixed Rate defined in the Indenture until the next succeeding Mandatory Tender Date. The interest rate on this Bond shall be converted to the Fixed Rate, on a one-time basis at the option of the Company upon the conditions set forth in the Indenture. [9] With the written consent of the Bank, the Company may exercise the option to convert the interest rate on the Bonds from a Variable Rate to a Fixed Rate at any time by written notice to the Trustee and the Remarketing Agent, as defined in the Indenture, stating (A) its election to convert the interest rate on this Bond to the Fixed Rate, (B) its election as to whether such Fixed Rate will be a Fixed Letter of Credit Rate or a Fixed Non-Letter of Credit Rate, (C) the date on which such conversion shall occur (the "Fixed Rate Conversion Date"), which shall be a Business Day not less than 60 nor more than 90 Business Days from the date the Company gives such Notice, (D) the next succeeding Mandatory Tender Date, if any, and (E) the date on which the Fixed Rate shall be announced, which shall be not less than ten days prior to the Fixed Rate Conversion Date (the "Computation Date"), and by delivering to the Trustee and the Remarketing Agent, with such notice, a copy of the written consent of the Bank to the conversion of the Bonds to the Fixed Rate and, if such Fixed Rate will be the Fixed Letter of Credit Rate, the Alternate Letter of Credit. In such case, the Fixed Rate shall be the interest rate on this Bond announced by the Remarketing Agent on the Computation Date, shall be effective on and after the Fixed Rate Conversion Date and shall be equal to the interest rate at which the Remarketing Agent has received on the Computation Date commitments to purchase all of the Bonds on the Fixed Rate Conversion Date at a price which is not less than par. [10] Prior to the Fixed Rate Conversion Date, the Holder of this Bond may require the Trustee to purchase this Bond (in whole but not in part), on any Business Day during the Variable Rate Period, at a purchase price equal to the principal amount thereof plus accrued interest thereon from the most recent Variable Rate Interest Payment Date, upon: 2496622v1 6