University of Virginia Library

Section 2.8 Temporary Notes.

The Notes may be issued in temporary form exchangeable for definitive Notes when ready for delivery. Any temporary Note may be printed, lithographed or typewritten, shall be of such denomination as may be determined by the University and may contain such reference to any of the provisions of this Resolution as may be appropriate. A temporary Note may be in the form of a single Note payable in installments, each on the date, in the amount and at the rate of interest established for the Notes maturing on such date. Every temporary Note shall be executed by the University and be authenticated by the Issuing and Paying Agent upon the same conditions and in substantially the same manner as the definitive Notes. If the University issues temporary Notes it will execute and deliver definitive Notes as promptly thereafter as practicable, and thereupon the temporary Notes may be surrendered, for cancellation, in exchange therefor at the office of the Issuing and Paying Agent and the Issuing and Paying Agent shall authenticate and deliver in exchange for such temporary Notes an equal aggregate principal amount of definitive Notes of authorized denominations of the same maturity or maturities and interest rate. Until so exchanged, the temporary Notes shall be entitled to the same benefits under this Resolution as definitive Notes authenticated and delivered hereunder.