Common use of Stock or Record Books Clause in Contracts

Stock or Record Books. For so long as the Auction Agent is acting as the transfer agent for any series of Municipal Preferred pursuant to the Agreement, it shall maintain a stock or record book containing a list of the Holders of the shares of Municipal Preferred of each such series. In case of any request or demand for the inspection of the stock or record books of the Trust or any other books in the possession of the Auction Agent, the Auction Agent will notify the Trust and secure instructions as to permitting or refusing such inspection. The Auction Agent reserves the right, however, to exhibit the stock or record books or other books to any Person in case it is advised by its counsel that its failure to do so would be unlawful.

Stock or Record Books. For so long as the Auction Agent is acting as the transfer agent for any series of Municipal Preferred Shares pursuant to the this Agreement, it shall maintain a stock or record book containing a list of the Holders of the shares of Municipal Preferred of each such seriesShares who are Broker-Dealers. In case of any request or demand for the inspection of the stock or record books of the Trust Fund or any other books in the possession of the Auction Agent, the Auction Agent will notify the Trust Fund and secure instructions as to permitting or refusing such inspection. The Auction Agent reserves the right, however, to exhibit the stock or record books or other books to any Person in case it is advised by its counsel that its failure to do so would be unlawful.