When you perform the annual PMCS, you must also perform the semiannual
Count off 18 calendar days before 17 Apr, the scheduled semiannual
The bonds are subject to mandatory tender: (1) upon conversion of the interest rate; (2) on a Credit Modification Date or a Credit Issuance Date, as such terms are defined in the Indenture of Trust, dated as of July 1, 2000 (the 'Indenture'); (3) following receipt by the Trustee, First Citizens Bank & Trust Company, of a notice from the Bank of an event of default under the Reimbursement Agreement, directing a mandatory tender; and (4) while in the weekly, monthly or semiannual
rate, on any business day designated by the Borrower, in accordance with the terms of the Indenture.
Bondholders have the option to tender their bonds during the weekly, semiannual
and term interest rate modes with the required prior notice.
The bonds initially bear interest at the daily interest rate, but may be converted to weekly, monthly, semiannual
and extended interest rate modes.