Examples of Original Maturity Date in a sentence
Extension of the Maturity DateThe Metropolitan Government is required to notify the Issuing and Paying Agent and Dealer by 11:30a.m. (New York, New York time) on the Original Maturity Date that it wishes to exercise its option to extend the maturity of an ECP Note.
See "THE ECP PROGRAM – BOOK-ENTRY-ONLY SYSTEM" herein.Each ECP Note will mature on its Original Maturity Date, which may range from 1 to 90 days from its original Issue Date as determined by the Metropolitan Government upon the issuance of the applicable ECP Note, unless the Metropolitan Government exercises its option to extend the maturity date.
Even if the requisite notices are not given by the Metropolitan Government and/or the Issuing and Paying Agent, if payment of the principal of and interest on an ECP Note does not occur on the Original Maturity Date, the maturity of the ECP Note shall be extended automatically.
The Issuing and Paying Agent shall correspondingly notify (i) DTC by 12:00 noon on the Original Maturity Date and (ii) each Rating Agency then maintaining a rating on the ECP Notes and EMMA by the close of business on the Original Maturity Date, that the maturity is being extended.
Upon receipt of such Issuance Request (which may be transmitted by mail, telecopy or other electronic communications method, or by telephone, promptly confirmed in writing by 2:00 p.m.), the Issuing and Paying Agent shall, by 3:00 p.m. on such day, complete each ECP Note as to amount, Issue Date, Original Maturity Date, Extended Maturity Date and Original Rate specified in such Issuance Request, and deliver each such ECP Note to or upon the order of the Dealer upon receipt of payment therefor.