Initial Transfer Restrictions Clause Samples

Initial Transfer Restrictions. A Series A Bond may, in accordance with its terms, be transferred, upon the books required to be kept under the provisions of Section 2.07 by the person in whose name it is registered, in person or by such person’s duly authorized attorney, upon surrender of such Series A Bond for cancellation, accompanied by delivery of a duly written instrument of transfer in a form acceptable to the Fiscal Agent; provided, however, that, except as set forth in Section 2.06(A)(ii), such Series A Bond shall be transferred in whole to a single purchaser that delivers to the Fiscal Agent and the City an executed letter substantially in the form of Exhibit C attached to this Fiscal Agent Agreement. The cost for any services rendered or any expenses incurred by the Fiscal Agent and the City in connection with any such transfer or exchange shall be paid by the transferor. The Fiscal Agent shall not authenticate or register a Series A Bond in connection with a transfer pursuant to this Section 2.06(A)(i) unless the City shall have instructed the Fiscal Agent in writing to do so. The City covenants and agrees to instruct the Fiscal Agent pursuant to the foregoing sentence upon the request of an Owner of a Series A Bond in connection with a proposed transfer that complies with the foregoing provisions.