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The Notes will not contain any provision for extension or automated roll-over, either on the option of the holder or the choice of Manitoba Hydro. The Notes will be issued in bearer form or registered within the name of the holder and will be interest bearing with principal and interest payable at maturity or issued at a discount to mature at the principal quantity. The Notes shall be issued in multiples of $100,000 in Canadian and/or U.S. funds and/or equal Canadian funds in other foreign currencies at the time of concern. All Notes issued by Manitoba Hydro shall be rated in one of the highest two categories by at least one nationally recognized rating group. The combination principal quantity of Notes excellent at anyone time shall not exceed the lesser of $500,000,000 in Canadian and/or U.S. funds and/or equivalent Canadian funds in different foreign currency and the quantity determined in accordance with the method described below .
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