 | Board of Visitors minutes October 6, 1906 |  |
—Article 11.—
Default in the payment of the principal of the said
bonds, or any of them, and default for ninety days in the
payment of the interest coupons thereon, as hereinbefore
mentioned, referred to, and specified, shall be construed
to mean such default after demand shall have been made at
or after maturity for the payment of any such bonds or coupons;
and no such default shall be understood to have accrued
as to any such bond, or coupon for interest, until
such demand therefor shall have been made; and no interest
shall accrue on any overdue coupon until after demand for
the payment thereof shall have been made.
And if the said Virginia Trust Company shall at any
time fail or cease to keep an office in the City of Richmond,
Virginia, at which the said bonds and coupons can in
the usual course of business be presented for payment or
then, and in either of these events, all the said
bonds then outstanding and the interest and coupons representing
such interest thereon, shall be and become payable
at the said University, at the office of the Bursar or other
principal fiscal agent of the said Rector and Visitors.
| Board of Visitors minutes October 6, 1906 | |