DTE Energy 2013 Annual Report Download - page 178

time are not ascertainable (including by way of interpolation), the Treasury Constant Maturity Series Yields reported, for the latest day
for which such yields have been so reported as of the second Business Day preceding the Settlement Date with respect to such Called
Principal, in Federal Reserve Statistical Release H.15 (519) (or any comparable successor publication) for actively traded U.S. Treasury
securities having a constant maturity equal to the Remaining Average Life of such Called Principal as of such Settlement Date. Such
implied yield will be determined, if necessary, by (a) converting U.S. Treasury bill quotations to bond-equivalent yields in accordance
with accepted financial practice and (b) interpolating linearly on a straight line basis between (1) the most recently issued, actively traded
on-the-run, benchmark U.S. Treasury security with the maturity closest to and greater than the Remaining Average Life and (2) the
most recently issued, actively traded on-the-run, benchmark U.S. Treasury security with the maturity closest to and less than the
Remaining Average Life. The Reinvestment Yield shall be rounded to the number of decimal places as appears in the interest rate of the
applicable Bond.
“Remaining Average Life” means, with respect to any Called Principal, the number of years obtained by dividing (i) such Called
Principal into (ii) the sum of the products obtained by multiplying (a) the principal component of each Remaining Scheduled Payment
with respect to such Called Principal by (b) the number of years, computed on the basis of a 360-day year composed of twelve 30-day
months and calculated to two decimal places, that will elapse between the Settlement Date with respect to such Called Principal and the
Stated Maturity of such Remaining Scheduled Payment.
“Remaining Scheduled Payments” means, with respect to the Called Principal of a Bond, all payments of such Called Principal
and interest thereon that would be due after the Settlement Date with respect to such Called Principal if no payment of such Called
Principal were made prior to its Stated Maturity, provided that if such Settlement Date is not a date on which interest payments are due
to be made under the terms of the Bond, then the amount of the next succeeding scheduled interest payment will be reduced by the
amount of interest accrued to such Settlement Date and required to be paid on such Settlement Date.
“Settlement Date” means, with respect to the Called Principal of a Bond, the Redemption Date on which such Called Principal
is to be redeemed or has become or is declared to be immediately due and payable pursuant to Section 9.01 of the Indenture as the
context requires.
Notice of redemption shall be given to the holders of the Bonds to be redeemed not more than 60 nor less than 30 days prior to
the Redemption Date, as provided in Section 4.05 of the Indenture. Each such notice shall specify such Redemption Date, the aggregate
principal amount of the Bonds to be redeemed on such date, the principal amount of each Bond held by such holder to be redeemed, and
the interest to be paid on the Redemption Date with respect to such principal amount being prepaid, and shall be accompanied by a
certificate of a senior financial officer of the Company as to the estimated Make-Whole Amount due in connection with such
redemption (calculated as if the date of such notice were the date of the redemption), setting forth the details of such computation. The
Make-Whole Amount shall be determined by the Company two Business Days prior to the applicable
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