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days elapsed), (c) with respect to Index Floating Rate Bonds bearing interest at the SIFMA Index <br /> Rate, a 365-day or 366-day year for the actual days elapsed (calculated by multiplying the <br /> Outstanding principal amount of the Bonds by the interest rate, dividing that sum by 365 or 366, <br /> and multiplying that amount by the actual days elapsed), and (d) with respect to Long-Term Rate <br /> Bonds and Fixed Rate Bonds, a 360-day year of twelve 30-day months. <br /> The Bonds shall be subject to redemption and tender for purchase as provided in <br /> Article III. <br /> The determination of the Applicable Spread, Variable Rate, the Short-Term Rate, the <br /> Index Floating Rate, the Long-Term Rate and the Fixed Rate by the Underwriter, the <br /> Remarketing Agent or the Calculation Agent, as applicable, shall be conclusive and binding <br /> upon the Registered Owners, Beneficial Owners, the Bond Registrar, each Liquidity Facility <br /> Provider and each Credit Facility Provider. <br /> Failure by the Bond Registrar to give any notice required hereunder or any defect therein, <br /> shall not affect the interest rate borne by any of the Bonds. The City, the Bond Registrar, the <br /> Remarketing Agent, the Calculation Agent, the Liquidity Facility Providers and the Credit <br /> Facility Providers shall not be liable to any Registered Owner or Beneficial Owner for failure to <br /> give any such notice, or any defect therein, or for failure of any Registered Owner or Beneficial <br /> Owner to receive any such notice. <br /> Section 2.03. Determination of Interest Rates on the Bonds; Conversions Between Index <br /> Floating Rates, Variable Rates, Short-Term Rate Bonds or Long-Term Rate Bonds. <br /> (a) Determination of Interest Rates. <br /> (1) Same Interest Rate Mode. All Bonds shall operate in the same Interest <br /> Rate Mode. <br /> -24- P\20287 CMW20287 AMT 10/14/14 <br />