THE THIRTY-SEVENTH SERIES Sample Clauses

THE THIRTY-SEVENTH SERIES. Section 2.01. Bonds of the Thirty-seventh Series. There shall be a series of bonds designated as the 3.75% Series due July 1, 2024 (herein sometimes referred to as the “Thirty-seventh Series”), each of which shall also bear the descriptive title “First Mortgage Bond” as permitted by Section 2.01 of the Original Indenture. The form of bonds of the Thirty-seventh Series shall be substantially in the form of Exhibit A hereto. Bonds of the Thirty-seventh Series shall mature on July 1, 2024 and shall be issued only as fully registered bonds in denominations of One Thousand Dollars and, at the option of the Company, in any multiple or multiples thereof (the exercise of such option to be evidenced by the execution and delivery thereof). Bonds of the Thirty-seventh Series shall bear interest at the rate of three and seventy-five one-hundredths per centum (3.75%) per annum (except as hereinafter provided), payable semi-annually on January 1 and July 1 of each year, and at maturity or earlier redemption, the first interest payment to be made on July 1, 2014, for the period from the date of original issuance of the bonds of the Thirty-seventh Series to July 1, 2014 the principal of and premium, if any, and interest on each said bond to be payable at the office or agency of the Company in the Borough of Manhattan, The City of New York, New York, in such coin or currency of the United States of America as at the time of payment is legal tender for public and private debts. Interest on the bonds of the Thirty-seventh Series may, at the option of the Company, be paid by check mailed to the registered owners thereof. Overdue principal and overdue interest in respect of the bonds of the Thirty-seventh Series shall bear interest (before and after judgment) at the rate of four and seventy-five one-hundredths per centum (4.75%) per annum (to the extent that payment of such interest on any overdue interest is not prohibited under applicable law). Interest on the bonds of the Thirty-seventh Series shall be computed on the basis of a 360-day year consisting of twelve 30-day months. Interest on the bonds of the Thirty-seventh Series in respect of a portion of a month shall be calculated based on the actual number of days elapsed. In any case where any interest payment date, redemption date or maturity of any bond of the Thirty-seventh Series shall not be a Business Day, then payment of interest or principal need not be made on such date, but may be made on the next succeeding Bus...