RBCAA » Topics » Payment of Principal and Interest.

This excerpt taken from the RBCAA 8-K filed Aug 19, 2005.
Payment of Principal and Interest.

 

(a)                                  The unpaid principal amount of the Securities shall bear interest at a fixed rate per annum equal to 6.015% through the Interest Payment Date in September, 2015, and a variable rate per annum, reset quarterly, equal to LIBOR plus 1.42% thereafter, such interest to accrue from the Original Issue Date or from the most recent Interest Payment Date to which interest has been paid or duly provided for, and any overdue principal, premium or Additional Tax Sums and

 

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any overdue installment of interest shall bear Additional Interest (to the extent payment of such interest would be legally enforceable) at a fixed rate per annum equal to 6.015% through the Interest Payment Date in September, 2015, and a variable rate per annum, reset quarterly, equal to LIBOR plus 1.42% thereafter, from the dates such amounts are due until they are paid or funds for the payment thereof are made available for payment.

 

(b)                                 Interest and Additional Interest on any Security that is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, except that interest and any Additional Interest payable on the Stated Maturity (or any date of principal repayment upon early maturity) of the principal of a Security or on a Redemption Date shall be paid to the Person to whom principal is paid. The initial payment of interest on any Security that is issued between a Regular Record Date and the related Interest Payment Date shall be payable as provided in such Security.

 

(c)                                  Any interest on any Security that is due and payable, but is not timely paid or duly provided for, on any Interest Payment Date for Securities (herein called “

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