Common use of Duties of Paying Agent Clause in Contracts

Duties of Paying Agent. As Paying Agent, the County, provided sufficient collected funds have been provided to it for such purpose by or on behalf of the District, shall pay on behalf of the District the principal of, redemption premium (if any), and interest on each Bond in accordance with the provisions of the Bond Resolution and the Bonds. As long as DTC is the registered owner of the Bonds and DTC’s book‐entry method is used for the Bonds, the Paying Agent will send any notice of redemption or other notices to owners only to DTC.

Duties of Paying Agent. As Paying Agent, the County, provided sufficient collected funds have been provided to it for such purpose by or on behalf of the District, shall pay on behalf of the District the principal of, redemption premium (if any), and interest on each Bond in accordance with the provisions of the Bond Resolution and the BondsResolution. As long as DTC is the registered owner of the Bonds and DTC’s book‐entry method is used for the Bonds, the Paying Agent will send any notice of redemption or other notices to owners only to DTC.