Common use of Mode Change Date Clause in Contracts

Mode Change Date. The Mode Change Date for a change in the Mode of such Bonds to a Fixed Rate Mode shall be: (i) in the case of a conversion from a Daily Mode or a Weekly Mode, a regularly scheduled Interest Payment Date for such Bonds on which interest is payable in the Daily Mode or Weekly Mode from which the conversion is to be made; (ii) in the case of a conversion from a Term Rate Period, a regularly scheduled Interest Payment Date for such Bonds on which a new Term Rate Period would otherwise have commenced; (iii) in the case of a conversion from a Commercial Paper Mode, a day which is the last regularly scheduled Interest Payment Date for such Bonds on which interest is payable for any Interest Period established for such Bonds; (iv) in the case of a conversion from a Term Indexed Mode, a day specified in Section 2.12A(3)(b)(iii); and (v) in the case of a conversion from an R-FLOATs Mode, any Interest Payment Date for such Bonds on which a new Interest Period therefor would otherwise commence.