Interest payable on the Subordinated Notes on each Distribution Date shall consist solelyof Excess Interest payable on the Subordinated Notes. if any. on such Distribution Dale as detarnined on the related Datainination Dale and payable in accordance with the Priority of Pa)maits. If such dale is not a Business Day, the Securities will mature on the next Business Day. The Issuer will issue 36,780 Preferred Shares on the Closing Date. (c) Interest shall accrue on the outstanding principal amount of the Rated Notes (determined as of the first day of each Interest Period and after giving effect to any payment of principal occurring on such day) from the Closing Date and will be payable in arrears on each Distribution Date. Interest on Floating Rate Notes and interest on Defaulted Interest or Deferred Interest, as applicable, in respect of such Notes will be computed on the basis of the actual number of days elapsed in the Interest Period divided by 360. The Subordinated Notes will receive as distributions on each Distribution Date the Excess Interest payable on the Subordinated Notes, if any, subject to the Priority of Payments. (d) The Notes shall be redeemable as provided in Articles IX and XI. (e) Securities may only be issued in Authorized Denominations. (f) The Securities shall be numbered, lettered or otherwise distinguished in such manner as may be consistent herewith, determined by the Authorized Officers of the Applicable Issuer executing such Securities as evidenced by their execution of such Securities. (g) Securities of each Class shall be duly executed by the Applicable Issuer and authenticated by the Trustee or the Authenticating Agent as hereinafter provided. Securities sold to QIBs/QPs in reliance on Rule 144A may be initially issued in the form of Definitive Securities and with the Applicable Legend added thereto, which shall be registered in the name of the beneficial owner or a nominee thereof. Except for such Definitive Se