Right to Sell Purchased Bonds. The Corporation expressly reserves the right to sell Purchased Bonds held by it pursuant to this Agreement at any time after (x) it has owned such Bonds for more than 60 days without receiving a Remarketing Notice for such Bonds or (y) a No-Remarketing Notice has been delivered. The Corporation agrees that sales pursuant to this subsection (c) will be made only to affiliates of the Corporation pursuant to the GE Capital Agreement, institutional investors or other entities or individuals which customarily purchase commercial paper or tax exempt securities in large denominations who acknowledge in writing that their ownership of said Purchased Bonds is subject to the obligation to sell such Bonds pursuant to Sections 2.04(a) and (b) hereof. The Corporation agrees to notify the Issuer, the Fiscal Agent, the Tender Agent, the Remarketing Agent, Moody's and Standard & Poor's promptly of any such sale effected by it pursuant to this subsection (c). Bonds to be sold by the Corporation pursuant to this subsection (c) shall first be exchanged for new Bonds, which Bonds are not covered by the Rating, upon which is conspicuously noted their status as Purchased Bonds not subject, unless remarketed under the provisions of Sections 2.04(a) and (b) hereof, to Optional Tenders or Mandatory Tenders and which shall bear new CUSIP numbers.
Right to Sell Purchased Bonds. The Bank expressly reserves the right to sell, at any time, any Purchased Bond or the beneficial interest therein subject, however, to the express terms of this Agreement. The Bank agrees that such sales (other than sales made pursuant to Section 2.04(b) or to Assignees pursuant to Section 8.01) will be made only to institutional investors. The Bank agrees to notify the Trustee, Commission and the Remarketing Agent promptly in writing of any such sale (other than a sale made pursuant to Section 2.04(b)) and to notify the transferee in writing that (i) so long as such Bond remains a Purchased Bond, the Bank is not obligated to purchase it hereunder,
Right to Sell Purchased Bonds. The Bank expressly reserves the right to sell, at any time, any Purchased Bond or the beneficial interest therein subject, however, to the express terms of this Agreement. The Bank agrees that such sales (other than sales made pursuant to Section 2.04(b) hereof or to Assignees pursuant to Section 8.03 hereof) will be made only to institutional investors or other entities or individuals, which customarily purchase commercial paper or tax–exempt securities in large denominations. The Bank agrees to notify the Authority, the Bond Insurer, the Tender Agent and the Remarketing Agent promptly in writing of any such sale (other than a sale made pursuant to Section 2.04(b) hereof) and to notify the transferee in writing that (i) so long as such Bond remains a Purchased Bond, the Bank is not obligated to purchase it hereunder, (ii) there may not be a short–term investment rating assigned to such Bond so long as it remains a Purchased Bond and (iii) such Bond is subject to sale, and may cease to be a Purchased Bond, as provided in Section 2.04(b) hereof. The Bank shall provide the Tender Agent with the written agreement of each Purchased Bondholder purchasing a Purchased Bond or beneficial interest therein (A) acknowledging the terms of this Agreement relating to Purchased Bonds, (B) agreeing not to sell such Purchased Bond or beneficial interest except for sales to the Bank, sales to a purchaser identified by the Remarketing Agent pursuant to Section 2.04(b) hereof and sales to institutional investors or other entities which customarily purchase tax–exempt securities and who agree to be bound by the sale restrictions of this Section 2.04(a), (C) acknowledging that such Purchased Bondholder has no right to tender such Purchased Bond for purchase pursuant to the Resolution and (D) specifying appropriate notice and account information for purposes of all notices and payments to such Purchased Bondholder.
Right to Sell Purchased Bonds. Dexia expressly reserves the right to sell, at any time, any Purchased Bond or the beneficial interest therein subject, however, to the express terms of this Agreement. Dexia agrees that such sales (other than sales made pursuant to Section 2.04(b) hereof or to Assignees pursuant to Section 8.03 hereof) will be made only to institutional investors or other entities or individuals, which customarily purchase commercial paper or securities in large denominations. Dexia agrees to notify the Bond Insurer, the Trustee and the Remarketing Agent promptly in writing of any such sale (other than a sale made pursuant to Section 2.04(b) hereof) and to notify the transferee in writing that (i) so long as such Bond remains a Purchased Bond Dexia is not obligated to purchase it hereunder, (ii) there may not be a short–term investment rating assigned to such Bond so long as it remains a Purchased Bond and (iii) such Bond is subject to sale, and may cease to be a Purchased Bond, as provided in Section 2.04(b) hereof. Dexia shall provide the Trustee with the written agreement of each Purchased Bondholder purchasing a Purchased Bond or beneficial interest therein
