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40 Variable Rate The Remarketing Agent will determine the Variable Rate for the Bonds of each Issue 9n the day following the last day ofthe Initial Interest Period for such Bonds, on the first Business Day of rich month thereafter during which such Bonds bear interest at the Variable date and on each Mandatory Tender Date a#tar which such Bonds will bear interest at the Variable Rats (each, an "Adjustment bate"), The Variable Rate for the Bonds of each Issue will be equal 1 to the minimum rate of interest that, in the judgment Of the Remarketing A4snt, taking into account prevailing market conditions, would enable the ReMcketing Agent to $ell all of the Bonds of such Issue on the applicable Adjustment Pate �t a price equal to the principal amount thereof, plus accrued interest,, if any, thereon. The Variable Rate for the Bonds of each issue detecwined ---- :cting. Agsnt .oe+..se�b..du�h..�d1YMnt „Data shall remain in effect from and including such Adjustment Date to but excluding the earlier of (i) the immediately succeeding Adjustment Data relating to spch Bonds and (ii) tbp immediately succeeding Mandatory Tender Date applicable to such Bonds. So long as the Bonds of an Issue bear interest at the Variable Rate, such interest will be computed on thebasis Y years) actual number of days elaps}d over a year of 365 days (366 days in and the Interest Payment Dotes for such Bonds will be the first Business Day of each month, each Mandatory Tender Date applicable to such bonds and the maturity date of such Bonds. Various factors, including the fact that the interest on Bqnds of the Issuer indicated on the cover page of this Official Statement with an asterisk, if any, will be treated as a specific preference item subject to both the individual and corporate alternative minimum tax, may cause the Variable Rates letermined by the Remarketing Agent to vary between Issues. Fixed Rate Periods` Each indenture provides that the Company and NIC U) ) may change the interest rate' borne by the Bonds issued thereunder from the Variable Rate to one or more 'Vixed Rates by establishing one or more consecutive Fixed Rate Periods for such Donafixed R, and, (ii) at the expiration of any such Fixed Rate Period, may establish one or more additional ate Periods for such Bonds, Fixed Rate Periods so established may be of the same or different lengths, but lath such period shall commence on the day following the last day of a Fixed Rate Period or, if the Variable Rate is then in effect for such Bonds, the first Busi"Ss bay of a month. Long Fixed Rate Periods applicable to the fonds of an Issue shall end on the last calendar day of a month unless followed by a Short Fixed Rate Period or a Conversion Data after which such Bonds will bear interest at the Variable Rate, in which case the Long Fixed Rate Period shall and on the day preceding the first Business Day of a month. Short Fixed Rate Periods shall end on the day immediately preceding the first Business Day of a month. The Fixed Rate borne by the Bonds of an Issue during any Fixed Rate Period applicable to such Bonds shall be determined by the Remarketing Agent on a date selected by it ,(the "Computation Date") that is at least seven but -6-