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40 If the Trustee has not received from the Bank, within fifteen calendar days after the honoring by the Bank of any Interest Drawing applicable to the Bonds of the Issue secured thereby, notice to the effect that the Bank will terminate the Letter of Credit in accordance with its terms and demanding acceleration of such Bonds as described herein under "The Bonds - Special Acceleration," the Interest Component equal to the amount of such Interest Drawing on such Letter of Credit, will be automatically reinstated, effective on the sixteenth calendar day after the honoring by the Bank of such Interest Drawing. In no event, however, will such Interest Component be reinstated to an amount in excess of 58 days' accrued interest (computed at the rate of 15% per annum and on the basis of the actual days elapsed in a 365 or 366 day year) on the then effective Principal Component applicable to that issue of Bonds. The Interest Component and the Principal Component of any Letter of Credit reduced as a result of a Purchase Drawing under such Letter of Credit will be automatically reinstated concurrently with the receipt by the Bank of immediately available funds in reimbursement of any such Purchase Drawing, together with interest thereon as provided in the Reimbursement Agreement in the amount of principal so reimbursed plus 58 days' accrued interest per annum (computed at the rate of 15% per annum and on the basis of the actual days elapsed in a 365 or 366 day year) on the amount of such principal reimbursed. In no event, however, will such Interest Component be reinstated to an amount in excess of 58 days' accrued interest (computed at the rate of 15: per annum and on the basis of the actual days elapsed in a 365 or 366 day year) on the then effective Principal Component applicable to that issue of Bonds. Expiration and Termination of Letters of Credit Each Letter of Credit will automatically terminate on the earliest of (i) the fifth anniversary of the date of issuance of the Bonds of the Issue secured thereby (the "Stated Expiration Date"), (ii) the payment by the Bank of the final drawing available to be made under such Letter of Credit, or (iii) the fifteenth day after the effective date after the Initial Interest Period on which such Bonds began to bear interest at a rate other than the Variable Rate. Each Letter of Credit may be terminated by the Bank prior to the Stated Expiration Date upon not less than 14 days' prior written notice to the Trustee upon the occurrence of certain events described in the Reimbursement Agreement. Upon receipt by the Trustee of any such notice of termination with respect to any Letter of Credit the Bonds secured thereby shall be accelerated as described herein under "The Bonds - Special Acceleration," the Trustee shall thereupon be entitled to draw the entire then remaining Stated Amount of such Letter of Credit on or before the termination date set forth in such notice of termination. See "Summary of Cartain Provisions of the Reimbursement Agreement - Expiration and Termination of Letter of Credit" in Appendix D. Enforceability The enforceability of each Letter of Credit may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other -19-