Common use of Qualifications and Responsibilities Clause in Contracts

Qualifications and Responsibilities. The Company shall appoint, with the consent of the Authority, and, if a Credit Facility is in effect, the Bank, a Remarketing Agent when any Bonds are in the Flexible Mode, Weekly or Multiannual Mode. The Remarketing Agent shall be authorized by law to perform all of the duties imposed upon it by this Agreement. In addition, the Remarketing Agent shall either (i) have a capitalization of at least $10,000,000 and outstanding securities rated at least Baa 3 (or a substantially equivalent rating) by Moody's if such a requirement is then necessary to the maintenance of any then existing Moody's rating on the Bonds or (ii) have a capitalization ox xx xxast $15,000,000 or have a line of credit with a commercial bank in the amount of at least $15,000,000. The Remarketing Agent, which may act by means of agents, shall signify its acceptance of the duties and obligations imposed upon it hereunder by a written agreement with the Company under which the Remarketing Agent will agree, among other things, to: (i) determine the Flexible, Weekly, Multiannual or Fixed Rate pursuant to and in accordance with Paragraph 301(d)(i), (e)(i) or (f)(i) or Subsection 301(g) and the forms of Flexible, Weekly, Multiannual and Fixed Rate Bonds; (ii) give all notices to the Trustee and Paying Agent regarding the determination of interest rates on the Bonds and regarding Tendered Bonds as are required of the Remarketing Agent in this Agreement; (iii) hold all moneys received hereunder from the remarketing of Tendered Bonds for the benefit of the person or entity which shall have delivered such moneys until the Remarketing Agent shall have transferred such moneys to the Paying Agent as provided in this Agreement; (iv) keep such books and records with respect to its duties as Remarketing Agent as shall be consistent with prudent industry practice and make such books and records available for inspection by the parties hereto and the Paying Agent at all reasonable times; and (v) use its best efforts to remarket Bonds in accordance with this Agreement and any remarketing agreement entered into by the Remarketing Agent and the Company. The Remarketing Agent may enter into custodial agreements with one or more banking or similar institutions for the deposit and holding of the Bonds in order to facilitate the tendering and remarketing of Bonds as provided in this Agreement, provided, however, that in no event shall the Authority, the Trustee or the Paying Agent be responsible or held liable for any action taken or not taken under any such custodial agreement and in no way shall any such custodial agreement relieve or otherwise alter the obligations and responsibilities of the Remarketing Agent set forth in this Agreement.

Qualifications and Responsibilities. The Company Borrower shall appoint, ----------------------------------- with the consent of the Authority, and, if a Credit Facility is in effect, Issuer and the Bank, a Remarketing Agent when any the Bonds are in the Flexible Mode, Weekly or Multiannual Mode. The Remarketing Agent shall be authorized by law to perform all of the duties imposed upon it by this Agreement. In addition, the Remarketing Agent shall either (i) have be a capitalization member of at least $10,000,000 and outstanding securities rated at least Baa 3 (the National Association of Securities Dealers, Inc. or a substantially equivalent rating) by Moody's if such a requirement is then necessary banking corporation, acceptable to the maintenance of any then existing Moody's rating on Issuer, the Bonds or (ii) have a capitalization ox xx xxast $15,000,000 or have a line of credit with a commercial bank in Borrower and the amount of at least $15,000,000Bank. The Remarketing Agent, which may act by means of agents, shall signify its acceptance of the duties and obligations imposed upon it hereunder by a written agreement with the Company Borrower under which the Remarketing Agent will agree, among other things, to: (i) determine the Flexible, Weekly, Multiannual Weekly or Fixed Rate pursuant to and in accordance with Paragraph 301(d)(i), (e)(i) or (f)(i) or Subsection 301(g301(e) and the forms of Flexible, Weekly, Multiannual Weekly and Fixed Rate Bonds; (ii) give all notices to the Trustee and Paying Agent regarding the determination of interest rates on the Bonds and regarding Tendered Bonds as are required of the Remarketing Agent in this Agreement; (iii) hold all moneys received hereunder from the remarketing of Tendered Bonds for the benefit of the person or entity which shall have delivered such moneys until the Remarketing Agent shall have transferred such moneys to the Paying Agent Trustee as provided in this Agreement; (iv) keep such books and records with respect to its duties as Remarketing Agent as shall be consistent with prudent industry practice and make such books and records available for inspection by the parties hereto and the Paying Agent at all reasonable times; and (v) use its best efforts to remarket Bonds in accordance with this Agreement and any remarketing agreement entered into by the Remarketing Agent and the CompanyBorrower. The Remarketing Agent may enter into custodial agreements with one or more banking or similar institutions for the deposit and holding of the Bonds in order to facilitate the tendering and remarketing of Bonds as provided in this Agreement, provided, however, that in no event shall the Authority, Issuer or the Trustee or the Paying Agent be responsible or held liable for any action taken or not taken under any such custodial agreement and in no way shall any such custodial agreement relieve or otherwise alter the obligations and responsibilities of the Remarketing Agent set forth in this Agreement.

Qualifications and Responsibilities. The Company Borrower shall appoint, with the consent of the Authority, and, if a Credit Facility is in effect, Issuer and the Bank, a Remarketing Agent when any the Bonds are in the Flexible Mode, Weekly or Multiannual Mode. The Remarketing Agent shall be authorized by law to perform all of the duties imposed upon it by this Agreement. In addition, the Remarketing Agent shall either (i) have be a capitalization member of at least $10,000,000 and outstanding securities rated at least Baa 3 (the National Association of Securities Dealers, Inc. or a substantially equivalent rating) by Moody's if such a requirement is then necessary banking corporation, acceptable to the maintenance of any then existing Moody's rating on Issuer, the Bonds or (ii) have a capitalization ox xx xxast $15,000,000 or have a line of credit with a commercial bank in Borrower and the amount of at least $15,000,000Bank. The Remarketing Agent, which may act by means of agents, shall signify its acceptance of the duties and obligations imposed upon it hereunder by a written agreement with the Company Borrower under which the Remarketing Agent will agree, among other things, to: (i) determine the Flexible, Weekly, Multiannual Weekly or Fixed Rate pursuant to and in accordance with Paragraph 301(d)(i), (e)(i) or (f)(i) or Subsection 301(g301(e) and the forms of Flexible, Weekly, Multiannual Weekly and Fixed Rate Bonds; (ii) give all notices to the Trustee and Paying Agent regarding the determination of interest rates on the Bonds and regarding Tendered Bonds as are required of the Remarketing Agent in this Agreement; (iii) hold all moneys received hereunder from the remarketing of Tendered Bonds for the benefit of the person or entity which shall have delivered such moneys until the Remarketing Agent shall have transferred such moneys to the Paying Agent Trustee as provided in this Agreement; (iv) keep such books and records with respect to its duties as Remarketing Agent as shall be consistent with prudent industry practice and make such books and records available for inspection by the parties hereto and the Paying Agent at all reasonable times; and (v) use its best efforts to remarket Bonds in accordance with this Agreement and any remarketing agreement entered into by the Remarketing Agent and the CompanyBorrower. The Remarketing Agent may enter into custodial agreements with one or more banking or similar institutions for the deposit and holding of the Bonds in order to facilitate the tendering and remarketing of Bonds as provided in this Agreement, provided, however, that in no event shall the Authority, Issuer or the Trustee or the Paying Agent be responsible or held liable for any action taken or not taken under any such custodial agreement and in no way shall any such custodial agreement relieve or otherwise alter the obligations and responsibilities of the Remarketing Agent set forth in this Agreement.

Qualifications and Responsibilities. The Company shall appoint, with the consent of the Authority, and, if a Credit Facility is in effect, the Bank, a Remarketing Agent when any Bonds are in the Flexible Mode, Weekly or Multiannual Mode. The Remarketing Agent shall be authorized by law to perform all of the duties imposed upon it by this Agreement. In addition, the Remarketing Agent shall either (i) have a capitalization of at least $10,000,000 and outstanding securities rated at least Baa 3 (or a substantially equivalent rating) by Moody's if such a requirement is then necessary to the maintenance of any then existing Moody's Xxxxx'x rating on the Bonds or (ii) have a capitalization ox xx xxast of at least $15,000,000 or have a line of credit with a commercial bank in the amount of at least $15,000,000. The Remarketing Agent, which may act by means of agents, shall signify its acceptance of the duties and obligations imposed upon it hereunder by a written agreement with the Company under which the Remarketing Agent will agree, among other things, to: (i) determine the Flexible, Weekly, Multiannual or Fixed Rate pursuant to and in accordance with Paragraph 301(d)(i), (e)(i) or (f)(i) or Subsection 301(g) and the forms of Flexible, Weekly, Multiannual and Fixed Rate Bonds; (ii) give all notices to the Trustee and Paying Agent regarding the determination of interest rates on the Bonds and regarding Tendered Bonds as are required of the Remarketing Agent in this Agreement; (iii) hold all moneys received hereunder from the remarketing of Tendered Bonds for the benefit of the person or entity which shall have delivered such moneys until the Remarketing Agent shall have transferred such moneys to the Paying Agent as provided in this Agreement; (iv) keep such books and records with respect to its duties as Remarketing Agent as shall be consistent with prudent industry practice and make such books and records available for inspection by the parties hereto and the Paying Agent at all reasonable times; and (v) use its best efforts to remarket Bonds in accordance with this Agreement and any remarketing agreement entered into by the Remarketing Agent and the Company. The Remarketing Agent may enter into custodial agreements with one or more banking or similar institutions for the deposit and holding of the Bonds in order to facilitate the tendering and remarketing of Bonds as provided in this Agreement, provided, however, that in no event shall the Authority, the Trustee or the Paying Agent be responsible or held liable for any action taken or not taken under any such custodial agreement and in no way shall any such custodial agreement relieve or otherwise alter the obligations and responsibilities of the Remarketing Agent set forth in this Agreement.