Common use of Book-Entry Registration Clause in Contracts

Book-Entry Registration. Notwithstanding any other provision hereof, the Bonds (other than TIFIA Bonds) shall be delivered only in book-entry form registered in the name of Cede & Co., as nominee of The Depository Trust Company (“DTC”), New York, New York, acting as securities depository of the Bonds (other than TIFIA Bonds) and the Debt Service on and Redemption Price of the Bonds (other than TIFIA Bonds) shall be paid by wire transfer to DTC; provided, however, if at any time the Transportation Enterprise determines, and notifies the Trustee of its determination, that DTC is no longer able to act as, or is no longer satisfactorily performing its duties as, securities depository for the Bonds, the Transportation Enterprise may, at its discretion, either (a) designate a substitute securities depository for DTC and direct the Trustee to reregister the Bonds (other than TIFIA Bonds) as specified by such substitute securities depository or (b) terminate the book-entry registration system and reregister the Bonds in the names of the beneficial owners thereof provided to it by DTC. Neither the Transportation Enterprise nor the Trustee shall have any liability to DTC, Cede & Co., any substitute securities depository, any Person in whose name the Bonds are reregistered at the direction of any substitute securities depository, any beneficial owner of the Bonds or any other Person for (i) any determination made by the Trustee pursuant to the proviso at the end of the immediately preceding sentence or (ii) any action taken to implement such determination and the procedures related thereto that is taken pursuant to any direction of or in reliance on any information provided by DTC, Cede & Co., any substitute securities depository or any Person in whose name the Bonds are reregistered.

Book-Entry Registration. Notwithstanding any other provision hereof, the Bonds (other than TIFIA Bonds) shall be delivered only in book-entry form registered in the name of Cede & Co., as nominee of The Depository Trust Company (“DTC”―DTC‖), New York, New York, acting as securities depository of the Bonds (other than TIFIA Bonds) and the Debt Service on and Redemption Price of the Bonds (other than TIFIA Bonds) shall be paid by wire transfer to DTC; provided, however, if at any time the Transportation Enterprise determines, and notifies the Trustee of its determination, that DTC is no longer able to act as, or is no longer satisfactorily performing its duties as, securities depository for the Bonds, the Transportation Enterprise may, at its discretion, either (a) designate a substitute securities depository for DTC and direct the Trustee to reregister the Bonds (other than TIFIA Bonds) as specified directed by such substitute securities depository or (b) terminate the book-entry registration system and reregister the Bonds in the names of the beneficial owners thereof provided to it by DTC. Neither the Transportation Enterprise nor the Trustee shall have any liability to DTC, Cede & Co., any substitute securities depository, any Person in whose name the Bonds are reregistered at the direction of any substitute securities depository, any beneficial owner of the Bonds or any other Person for (i) any determination made by the Trustee pursuant to the proviso at the end of the immediately preceding sentence or (ii) any action taken to implement such determination and the procedures related thereto that is taken pursuant to any direction of or in reliance on any information provided by DTC, Cede & Co., any substitute securities depository or any Person in whose name the Bonds are reregistered.or

Book-Entry Registration. Notwithstanding any other provision hereof, the Bonds (other than TIFIA Bonds) shall be delivered only in book-entry form registered in the name of Cede & Co., as nominee of The Depository Trust Company (“DTC”), New York, New York, acting as securities depository of the Bonds (other than TIFIA Bonds) and the Debt Service on and Redemption Price of the Bonds (other than TIFIA Bonds) shall be paid by wire transfer to DTC; provided, however, if at any time the Transportation Enterprise determines, and notifies the Trustee of its determination, that DTC is no longer able to act as, or is no longer satisfactorily performing its duties as, securities depository for the Bonds, the Transportation Enterprise may, at its discretion, either (a) designate a substitute securities depository for DTC and direct the Trustee to reregister the Bonds (other than TIFIA BondsXXXXX Xxxxx) as specified by such substitute securities depository or (b) terminate the book-entry registration system and reregister the Bonds in the names of the beneficial owners thereof provided to it by DTC. Neither the Transportation Enterprise nor the Trustee shall have any liability to DTC, Cede & Co., any substitute securities depository, any Person in whose name the Bonds are reregistered at the direction of any substitute securities depository, any beneficial owner of the Bonds or any other Person for (i) any determination made by the Trustee pursuant to the proviso at the end of the immediately preceding sentence or (ii) any action taken to implement such determination and the procedures related thereto that is taken pursuant to any direction of or in reliance on any information provided by DTC, Cede & Co., any substitute securities depository or any Person in whose name the Bonds are reregistered.

Book-Entry Registration. Notwithstanding any other provision hereof, the Bonds (other than the TIFIA Bonds) shall be delivered only in book-entry form registered in the name of Cede & Co., as nominee of The Depository Trust Company (“DTC”), New York, New York, acting as securities depository of the Bonds (other than TIFIA Bonds) and the Debt Service on and Redemption Price of the Bonds (other than TIFIA Bonds) shall be paid by wire transfer to DTC; provided, however, if at any time the Transportation Enterprise Trustee determines, and notifies the Trustee Issuer of its determination, that DTC is no longer able to act as, or is no longer satisfactorily performing its duties as, securities depository for the Bonds, the Transportation Enterprise Trustee may, at its discretion, either (a) designate a substitute securities depository for DTC and direct the Trustee to reregister the Bonds (other than TIFIA Bonds) as specified directed by such substitute securities depository or (b) terminate the book-entry registration system and reregister the Bonds in the names of the beneficial owners thereof provided to it by DTC. Neither the Transportation Enterprise Issuer nor the Trustee shall have any liability to DTC, Cede & Co., any substitute securities depository, any Person in whose name the Bonds are reregistered at the direction of any substitute securities depository, any beneficial owner of the Bonds or any other Person for (i) any determination made by the Trustee pursuant to the proviso at the end of the immediately preceding sentence or (ii) any action taken to implement such determination and the procedures related thereto that is taken pursuant to any direction of or in reliance on any information provided by DTC, Cede & Co., any substitute securities depository or any Person in whose name the Bonds are reregistered.