Common use of Accreted Value Clause in Contracts

Accreted Value. The Notes have been issued at the original issue discount ("Original Issue Discount") in the amount stated on the face of each Note and the Notes will accrete in value to the Face Amount at the Stated Maturity. Prior to the Stated Maturity, the Accreted Value for any specified date means, the applicable amount provided below for each $1,000 Face Amount of the Notes: (i) if the specified date occurs on one of the following dates (each a "Semi-Annual Accrual Date"), the Accreted Value of such Face Amount will equal the amount set forth opposite such Semi-Annual Accrual Date: Semi-Annual Accrual Date Accreted Value ------------------------ -------------- December 31, 1999...................... $ June 31, 2000 ......................... $ December 31, 2000...................... $ June 30 , 2001......................... $ December 31, 2001...................... $ June 30, 2002 ......................... $ December 31, 2002...................... $ June 31, 2003 ......................... $ December 31, 2003...................... $ June 30, 2004 ......................... $ (ii) if the specified date occurs before the first 24 Semi-Annual Accrual Date, the Accreted Value of such Face Amount will equal the sum of (a) the Original Issue Price and (b) an amount equal to the product of (1) the Accreted Value of such Face Amount for the first Semi-Annual Accrual Date less the original issue price multiplied by (2) a fraction, the numerator of which is the number of days from the Closing Date to the specified date, using a 360-day year of twelve 30-day months, and the denominator of which is the number of days elapsed from the original issue date to the first Semi-Annual Accrual Date, using a 360-day year of twelve 30-day months; (iii) if the specified date occurs between two Semi-Annual Accrual Dates, the Accreted Value of such Face Amount will equal the sum of (a) the Accreted Value of such Face Amount for the Semi-Annual Accrual Date immediately preceding such specified date and (b) an amount equal to the product of (1) the Accreted Value of such Face Amount for the immediately following Semi-Annual Accrual Date less the Accreted Value of such Face Amount for the immediately preceding Semi-Annual Accrual Date multiplied by (2) a fraction, the numerator of which is the number of days from the immediately preceding Semi-Annual Accrual Date to the specified date, using a 360-day year of twelve 30-day months, and the denominator of which is 180; or (iv) if the specified date occurs after the last Semi-Annual Accrual Date, the Accreted Value will equal $1,000.

Accreted Value. The Notes have been issued at the original issue discount ("Original Issue Discount") in the amount stated on the face of each Note and the Notes will accrete in value to the Face Amount at the Stated Maturity. Prior to the Stated Maturity, the Accreted Value for any specified date means, the applicable amount provided below for each $1,000 Face Amount of the Notes: (i) if the specified date occurs on one of the following dates (each a "Semi-Annual Accrual Date"), the Accreted Value of such Face Amount will equal the amount set forth opposite such Semi-Annual Accrual Date: Semi-Annual Accrual Date Accreted Value ------------------------ -------------- December 31, 1999...................... $ June 31, 2000 ......................... $ December 31, 2000...................... $ June 30 , 2001......................... $ December 31, 2001...................... $ June 30, 2002 ......................... $ December 31, 2002...................... $ June 31, 2003 ......................... $ December 31, 2003...................... $ June 30, 2004 ......................... $ (ii) if the specified date occurs before the first 24 Semi-Annual Accrual Date, the Accreted Value of such Face Amount will equal the sum of (a) the Original Issue Price and (b) an amount equal to the product of (1) the Accreted Value of such Face Amount for the first Semi-Annual Accrual Date less the original issue price multiplied by (2) a fraction, the numerator of which is the number of days from the Closing Date to the specified date, using a 360-day year of twelve 30-day months, and the denominator of which is the number of days elapsed from the original issue date to the first Semi-Annual Accrual Date, using a 360-day year of twelve 30-day months; (iii) if the specified date occurs between two Semi-Annual Accrual Dates, the Accreted Value of such Face Amount will equal the sum of (a) the Accreted Value of such Face Amount for the Semi-Annual Accrual Date immediately preceding such specified date and (b) an amount equal to the product of (1) the Accreted Value of such Face Amount for the immediately following Semi-Annual Accrual Date less the Accreted Value of such Face Amount for the immediately preceding Semi-Annual Accrual Date multiplied by (2) a fraction, the numerator of which is the number of days from the immediately preceding Semi-Annual Accrual Date to the specified date, using a 360-day year of twelve 30-day months, and the denominator of which is 180; or (iv) if the specified date occurs after the last Semi-Annual Accrual Date, the Accreted Value will equal $1,000.