DTE Energy 2013 Annual Report Download - page 132

Note shall be so exchangeable and the transfer thereof so registrable or (iii) there shall have occurred and be continuing an Event of
Default or an event which, with the giving of notice or lapse of time, or both, would constitute an Event of Default with respect to the
Notes. Upon the occurrence in respect of a Global Note of any or more of the conditions specified in clause (i), (ii) or (iii) of the
preceding sentence, such Global Note may be exchanged for Notes registered in the name of, and the transfer of such Global Note may
be registered to, such Persons (including Persons other than the Depositary and its nominees) as such Depositary, in the case of an
exchange, and the Company, in the case of a transfer, shall direct.
SECTION 205. Terms of the Notes.
(a) The Notes shall bear interest at the rate of 3.85% per annum on the principal amount thereof from November 25, 2013, or
from the most recent Interest Payment Date to which interest has been paid or duly provided for, until the principal of the Notes
becomes due and payable, and on any overdue principal and premium and (to the extent that payment of such interest is enforceable
under applicable law) on any overdue installment of interest at the same rate per annum during such overdue period. Interest on the
Notes will be payable semiannually in arrears on June 1 and December 1 of each year (each such date, an “Interest Payment Date”),
commencing June 1, 2014. The amount of interest payable for any period shall be computed on the basis of twelve 30-day months and a
360-day year.
(b) In the event that any Interest Payment Date, redemption date or other date of Maturity of the Notes is not a Business Day,
then payment of the amount payable on such date will be made on the next succeeding day which is a Business Day (and without any
interest or other payment in respect of any such delay), in each case with the same force and effect as if made on such date. The interest
installment so payable, and punctually paid or duly provided for, on any Interest Payment Date with respect to any Note will, as provided
in the Original Indenture, be paid to the person in whose name the Note (or one or more Predecessor Securities, as defined in said
Indenture) is registered at the close of business on the relevant record date for such interest installment, which shall be the fifteenth
calendar day (whether or not a Business Day) prior to the relevant Interest Payment Date (the “Regular Record Date”). Any such
interest installment not punctually paid or duly provided for shall forthwith cease to be payable to the registered Holders on such
Regular Record Date, and may either be paid to the person in whose name the Note (or one or more Predecessor Securities) is registered
at the close of business on a Special Record Date to be fixed by the Trustee for the payment of such defaulted interest, notice whereof
shall be given to the registered Holders of the Notes not less than ten days prior to such Special Record Date, or may be paid at any time
in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and
upon such notice as may be required by such exchange, all as more fully provided in the Original Indenture. The principal of, and
premium, if any, and the interest on the Notes shall be payable at the office or agency of the Company maintained for that purpose in the
Borough of Manhattan, The City of New York, in any coin or currency of the United States of America which at the time of payment is
legal tender for payment of public and private debts; provided, however, that payment of interest may be made at the option of the
Company by check mailed to the registered Holder at the close of business on the Regular Record Date at such address as shall appear in
the Security Register.
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