Book Entry Only. Notwithstanding the foregoing provisions of Article II hereof to the contrary. (a) The Bonds shall be initially issued in the form of a single separate fully registered bond for each maturity of Series 24A Bonds, Series 24B Bonds and Series 2022 Bonds in the amount of such series or subseries and maturity. Upon initial issuance, the ownership of the Bonds shall be registered in the registry books of the Trust kept by the Master Trustee in the name of Cede & Co., as nominee of the Bond Depository. With respect to the Bonds registered in the registry books kept by the Master Trustee in the name of Cede & Co., as nominee of the Bond Depository, the Trust and the Master Trustee shall have no responsibility or obligation to any Participant or to any Beneficial Owner of the Bonds. Without limiting the immediately preceding sentence, the Trust and the Master Trustee shall have no responsibility or obligation with respect to (i) the accuracy of the records of the Bond Depository, Cede & Co. or any Participant with respect to any ownership interest in the Bonds, (ii) the delivery to any Participant, any Beneficial Owner or any other person, other than the Bond Depository, of any notice with respect to the Bonds, including any notice of redemption, or (iii) the payment to any Participant, any Beneficial Owner or any other person, other than the Bond Depository, of any amount with respect to the principal amount or Redemption Price of, or interest on, the Bonds. The Master Trustee shall pay the principal amount or Redemption Price of, and interest on, the Bonds only to or upon the order of the Bond Depository, and all such payments shall be valid and effective to fully satisfy and discharge the Trust’s obligations with respect to the principal amount or Redemption Price of, and interest on, the Bonds to the extent of the sum or sums so paid. No person other than the Bond Depository shall receive an authenticated Bond evidencing the obligation of the Trust to make payments of principal or Redemption Price of, and interest pursuant to the Trust Agreement. Upon delivery by the Bond Depository to the Master Trustee of written notice to the effect that the Bond Depository has determined to substitute a new nominee in place of Cede & Co., the words “Cede & Co.” in the Trust Agreement shall refer to such new nominee of the Bond Depository. (b) Upon receipt by the Trust and the Master Trustee of written notice from the Bond Depository to the effect that the Bond Depository is unable or unwilling to discharge its responsibilities and no substitute depository willing to undertake the functions of the Bond Depository hereunder can be found which is able to undertake such functions upon reasonable and customary terms, then the Bonds shall no longer be restricted to being registered in the registry books of the Trust kept by the Master Trustee in the name of Cede & Co., as nominee of the Bond Depository, but may be registered in whatever name or names the Bondholders transferring or exchanging Bonds shall designate, in accordance with the provisions of the Master Trust Agreement. (c) In the event the Trust determines that Beneficial Owners should be able to obtain Bond certificates, the Trust shall notify the Bond Depository and the Master Trustee of the availability of Bond certificates. In such event, the Master Trustee shall authenticate, transfer and exchange Bond certificates as requested by the Bond Depository (or, pursuant to this Section 2.4, any other Bondholder) in appropriate amounts, and, whenever the Bond Depository requests the Trust and the Master Trustee to do so, the Master Trustee and the Trust will cooperate with the Bond Depository in taking appropriate action after reasonable notice (i) to transfer the Bonds to any Participant having Bonds credited to its Bond Depository account or (ii) to arrange for another securities depository to maintain custody of certificates evidencing the Bonds. (d) Notwithstanding any other provision of the Master Trust Agreement to the contrary, so long as any Bond is registered in the name of Cede & Co., as nominee of the Bond Depository, all payments with respect to the principal or Redemption Price of, and interest on, such Bond and all notices with respect to such Bond shall be made and given, respectively, to or on the order of the Bond Depository as provided in the Representation Letter.
Appears in 1 contract
Samples: Supplemental Trust Agreement
Book Entry Only. Notwithstanding the foregoing provisions of Article II hereof to the contrary. (a) The Bonds shall be initially issued in the form of a single separate fully registered bond for each maturity of Series 24A 25A Bonds, Series 24B 25B Bonds and Series 2022 2023 Bonds in the amount of such series or subseries and maturity. Upon initial issuance, the ownership of the Bonds shall be registered in the registry books of the Trust kept by the Master Trustee in the name of Cede & Co., as nominee of the Bond Depository. With respect to the Bonds registered in the registry books kept by the Master Trustee in the name of Cede & Co., as nominee of the Bond Depository, the Trust and the Master Trustee shall have no responsibility or obligation to any Participant or to any Beneficial Owner of the Bonds. Without limiting the immediately preceding sentence, the Trust and the Master Trustee shall have no responsibility or obligation with respect to
to (i) the accuracy of the records of the Bond Depository, Cede & Co. or any Participant with respect to any ownership interest in the Bonds, (ii) the delivery to any Participant, any Beneficial Owner or any other person, other than the Bond Depository, of any notice with respect to the Bonds, including any notice of redemption, or (iii) the payment to any Participant, any Beneficial Owner or any other person, other than the Bond Depository, of any amount with respect to the principal amount or Redemption Price of, or interest on, the Bonds. The Master Trustee shall pay the principal amount or Redemption Price of, and interest on, the Bonds only to or upon the order of the Bond Depository, and all such payments shall be valid and effective to fully satisfy and discharge the Trust’s obligations with respect to the principal amount or Redemption Price of, and interest on, the Bonds to the extent of the sum or sums so paid. No person other than the Bond Depository shall receive an authenticated Bond evidencing the obligation of the Trust to make payments of principal or Redemption Price of, and interest pursuant to the Trust Agreement. Upon delivery by the Bond Depository to the Master Trustee of written notice to the effect that the Bond Depository has determined to substitute a new nominee in place of Cede & Co., the words “Cede & Co.” in the Trust Agreement shall refer to such new nominee of the Bond Depository.
(b) Upon receipt by the Trust and the Master Trustee of written notice from the Bond Depository to the effect that the Bond Depository is unable or unwilling to discharge its responsibilities and no substitute depository willing to undertake the functions of the Bond Depository hereunder can be found which is able to undertake such functions upon reasonable and customary terms, then the Bonds shall no longer be restricted to being registered in the registry books of the Trust kept by the Master Trustee in the name of Cede & Co., as nominee of the Bond Depository, but may be registered in whatever name or names the Bondholders transferring or exchanging Bonds shall designate, in accordance with the provisions of the Master Trust Agreement.
(c) In the event the Trust determines that Beneficial Owners should be able to obtain Bond certificates, the Trust shall notify the Bond Depository and the Master Trustee of the availability of Bond certificates. In such event, the Master Trustee shall authenticate, transfer and exchange Bond certificates as requested by the Bond Depository (or, pursuant to this Section 2.4, any other Bondholder) in appropriate amounts, and, whenever the Bond Depository requests the Trust and the Master Trustee to do so, the Master Trustee and the Trust will cooperate with the Bond Depository in taking appropriate action after reasonable notice (i) to transfer the Bonds to any Participant having Bonds Xxxxx credited to its Bond Depository account or (ii) to arrange for another securities depository to maintain custody of certificates evidencing the Bonds.
(d) Notwithstanding any other provision of the Master Trust Agreement to the contrary, so long as any Bond is registered in the name of Cede & Co., as nominee of the Bond Depository, all payments with respect to the principal or Redemption Price of, and interest on, such Bond and all notices with respect to such Bond shall be made and given, respectively, to or on the order of the Bond Depository as provided in the Representation Letter.
Appears in 1 contract
Samples: Supplemental Trust Agreement
Book Entry Only. Notwithstanding the foregoing provisions of Article II hereof to the contrary. (a) The Series 23 Bonds shall be initially issued in the form of a single separate fully registered bond for each maturity of Series 24A Bonds, Series 24B 23A Bonds and Series 2022 23B Bonds in the amount of such series or subseries and maturity. Upon initial issuance, the ownership of the Series 23 Bonds shall be registered in the registry books of the Trust kept by the Master Trustee in the name of Cede & Co., as nominee of the Bond Depository. With respect to the Series 23 Bonds registered in the registry books kept by the Master Trustee in the name of Cede & Co., as nominee of the Bond Depository, the Trust and the Master Trustee shall have no responsibility or obligation to any Participant or to any Beneficial Owner of the Series 23 Bonds. Without limiting the immediately preceding sentence, the Trust and the Master Trustee shall have no responsibility or obligation with respect to
(i) the accuracy of the records of the Bond Depository, Cede & Co. or any Participant with respect to any ownership interest in the Series 23 Bonds, (ii) the delivery to any Participant, any Beneficial Owner or any other person, other than the Bond Depository, of any notice with respect to the Series 23 Bonds, including any notice of redemption, or (iii) the payment to any Participant, any Beneficial Owner or any other person, other than the Bond Depository, of any amount with respect to the principal amount or Redemption Price of, or interest on, the Series 23 Bonds. The Master Trustee shall pay the principal amount or Redemption Price of, and interest on, the Series 23 Bonds only to or upon the order of the Bond Depository, and all such payments shall be valid and effective to fully satisfy and discharge the Trust’s obligations with respect to the principal amount or Redemption Price of, and interest on, the Series 23 Bonds to the extent of the sum or sums so paid. No person other than the Bond Depository shall receive an authenticated Series 23 Bond evidencing the obligation of the Trust to make payments of principal or Redemption Price of, and interest pursuant to the Trust Agreement. Upon delivery by the Bond Depository to the Master Trustee of written notice to the effect that the Bond Depository has determined to substitute a new nominee in place of Cede & Co., the words “Cede & Co.” in the Trust Agreement shall refer to such new nominee of the Bond Depository.
(b) Upon receipt by the Trust and the Master Trustee of written notice from the Bond Depository to the effect that the Bond Depository is unable or unwilling to discharge its responsibilities and no substitute depository willing to undertake the functions of the Bond Depository hereunder can be found which is able to undertake such functions upon reasonable and customary terms, then the Series 23 Bonds shall no longer be restricted to being registered in the registry books of the Trust kept by the Master Trustee in the name of Cede & Co., as nominee of the Bond Depository, but may be registered in whatever name or names the Bondholders transferring or exchanging Series 23 Bonds shall designate, in accordance with the provisions of the Master Trust Agreement.
(c) In the event the Trust determines that Beneficial Owners should be able to obtain Series 23 Bond certificates, the Trust shall notify the Bond Depository and the Master Trustee of the availability of Series 23 Bond certificates. In such event, the Master Trustee shall authenticate, transfer and exchange Series 23 Bond certificates as requested by the Bond Depository (or, pursuant to this Section 2.4, any other Bondholder) in appropriate amounts, and, whenever the Bond Depository requests the Trust and the Master Trustee to do so, the Master Trustee and the Trust will cooperate with the Bond Depository in taking appropriate action after reasonable notice notice
(i) to transfer the Series 23 Bonds to any Participant having Series 23 Bonds credited to its Bond Depository account or (ii) to arrange for another securities depository to maintain custody of certificates evidencing the Series 23 Bonds.
(d) Notwithstanding any other provision of the Master Trust Agreement to the contrary, so long as any Series 23 Bond is registered in the name of Cede & Co., as nominee of the Bond Depository, all payments with respect to the principal or Redemption Price of, and interest on, such Series 23 Bond and all notices with respect to such Series 23 Bond shall be made and given, respectively, to or on the order of the Bond Depository as provided in the Representation Letter.
Appears in 1 contract
Samples: Supplemental Trust Agreement
Book Entry Only. Notwithstanding the foregoing provisions of Article II hereof to the contrary. (a) The Series 22 Bonds shall be initially issued in the form of a single separate fully registered bond for each maturity of Series 24A Bonds, Series 24B 22 Bonds and Series 2022 Bonds of like interest rate in the amount of such series or subseries and maturity. Upon initial issuance, the ownership of the Series 22 Bonds shall be registered in the registry books of the Trust kept by the Master Trustee in the name of Cede & Co., as nominee of the Bond Depository. With respect to the Series 22 Bonds registered in the registry books kept by the Master Trustee in the name of Cede & Co., as nominee of the Bond Depository, the Trust and the Master Trustee shall have no responsibility or obligation to any Participant or to any Beneficial Owner of the Series 22 Bonds. Without limiting the immediately preceding sentence, the Trust and the Master Trustee shall have no responsibility or obligation with respect to
to (i) the accuracy of the records of the Bond Depository, Cede & Co. or any Participant with respect to any ownership interest in the Series 22 Bonds, (ii) the delivery to any Participant, any Beneficial Owner or any other person, other than the Bond Depository, of any notice with respect to the Series 22 Bonds, including any notice of redemption, or (iii) the payment to any Participant, any Beneficial Owner or any other person, other than the Bond Depository, of any amount with respect to the principal amount or Redemption Price of, or interest on, the Series 22 Bonds. The Master Trustee shall pay the principal amount or Redemption Price of, and interest on, the Series 22 Bonds only to or upon the order of the Bond Depository, and all such payments shall be valid and effective to fully satisfy and discharge the Trust’s obligations with respect to the principal amount or Redemption Price of, and interest on, the Series 22 Bonds to the extent of the sum or sums so paid. No person other than the Bond Depository shall receive an authenticated Series 22 Bond evidencing the obligation of the Trust to make payments of principal or Redemption Price of, and interest pursuant to the Trust Agreement. Upon delivery by the Bond Depository to the Master Trustee of written notice to the effect that the Bond Depository has determined to substitute a new nominee in place of Cede & Co., the words “Cede & Co.” in the Trust Agreement shall refer to such new nominee of the Bond Depository.
(b) Upon receipt by the Trust and the Master Trustee of written notice from the Bond Depository to the effect that the Bond Depository is unable or unwilling to discharge its responsibilities and no substitute depository willing to undertake the functions of the Bond Depository hereunder can be found which is able to undertake such functions upon reasonable and customary terms, then the Series 22 Bonds shall no longer be restricted to being registered in the registry books of the Trust kept by the Master Trustee in the name of Cede & Co., as nominee of the Bond Depository, but may be registered in whatever name or names the Bondholders transferring or exchanging Series 22 Bonds shall designate, in accordance with the provisions of the Master Trust Agreement.
(c) In the event the Trust determines that Beneficial Owners should be able to obtain Series 22 Bond certificates, the Trust shall notify the Bond Depository and the Master Trustee of the availability of Series 22 Bond certificates. In such event, the Master Trustee shall authenticateissue, transfer and exchange Series 22 Bond certificates as requested by the Bond Depository (or, pursuant to this Section 2.4, any other Bondholder) in appropriate amounts, and, whenever the Bond Depository requests the Trust and the Master Trustee to do so, the Master Trustee and the Trust will cooperate with the Bond Depository in taking appropriate action after reasonable notice (i) to transfer the Series 22 Bonds to any Participant having Series 22 Bonds credited to its Bond Depository account or (ii) to arrange for another securities depository to maintain custody of certificates evidencing the Series 22 Bonds.
(d) Notwithstanding any other provision of the Master Trust Agreement to the contrary, so long as any Series 22 Bond is registered in the name of Cede & Co., as nominee of the Bond Depository, all payments with respect to the principal or Redemption Price of, and interest on, such Series 22 Bond and all notices with respect to such Series 22 Bond shall be made and given, respectively, to or on the order of the Bond Depository as provided in the Representation Letter.
Appears in 1 contract
Samples: Fifth Supplemental Trust Agreement