The Province of Ontario (the “Province”), for value received, hereby promises to pay to Cede & Co., or its registered assigns, the principal sum of FIVE HUNDRED MILLION UNITED STATES DOLLARS (US$500,000,000) (the “Principal Amount”) in lawful money of the United States of America on July 22, 2016 (the “Maturity Date”) (or on such earlier date as the Principal Amount may become payable hereunder)
Please excuse me while I break this down here.
[The Province of Ontario (Corporation), for value received (they got something...probably Credit), hereby promises to pay to Cede & Co. (DTCC, a holding house) [...] THE PRINCIPAL (the orignial corpus of what they are holding)[...] in NON TAXABLE MONEY]
Printed copy · Anthology Volume 8, page 369Printed copy from The Tender For Law Anthology, Volume 8, page 369 (printed 13 June 2014). Added by this site; not part of the Facebook export.