Common use of Substitution of Certain Government Obligations Clause in Contracts

Substitution of Certain Government Obligations. At the written direction of the County, the Escrow Agent shall accept in substitution for all or a portion of the Government Obligations listed in Schedule C, Government Obligations (the "Substituted Securities"), the principal of and interest on which, together with any Government Obligations listed in Schedule C for which no substitution is made, will be sufficient to pay all principal of and interest coming due on the Contract TDT Bonds upon maturity or early redemption on May 1, 2024 as set forth in Schedule B hereof. The foregoing notwithstanding, the substitution of Substituted Securities for any of the Government Obligations listed in Schedule B may be effected only upon compliance with this Section 2.4. At the written direction of the County at any time during the term of this Agreement, and provided that substituted Government Obligations are made available to the Escrow Agent, the Escrow Agent shall, upon receipt of the opinion and verification required herein, sell, transfer, exchange or otherwise dispose of, or request the redemption of, all or a portion of the Government Obligations then held in the Escrow Deposit Fund, and shall substitute for such Government Obligations other Government Obligations, designated by the County, and acquired by the Escrow Agent with the proceeds derived from the sale, transfer, disposition, redemption of, or by the exchange of, such Government Obligations held in the Escrow Deposit Fund, as applicable: (a) The Escrow Agent shall have received an opinion of nationally recognized counsel in the field of law relating to municipal bonds stating that such substitution complies with this Agreement and will not adversely affect the exclusion from gross income for federal income tax purposes of interest on the Contract TDT Bonds or the Series 2016B Bonds and is not inconsistent with the statutes and regulations applicable to the Contract TDT Bonds; and (b) The Escrow Agent shall have received verification from a nationally recognized independent certified public accountant or firm of accountants stating that the principal of and interest on the substituted Government Obligations, together with any Government Obligations and a stated dollar amount of cash remaining in the Escrow Deposit Fund, if any, as applicable, will be sufficient without reinvestment, to pay all principal of and interest coming due on the Contract TDT Bonds upon maturity or early redemption on May 1, 2024, as set forth in Schedule B hereof. Notwithstanding anything to the contrary contained in this Agreement, any moneys resulting from the sale, transfer, disposition or redemption of the Government Obligations held hereunder and the substitution therefor of other Government Obligations which, based on the foregoing verification, are not necessary for the payment of all principal of and interest coming due on the Contract TDT Bonds upon maturity or early redemption on May 1, 2024, shall be transferred to the County in accordance with Section 2.6 hereof. The Escrow Agent may conclusively rely on all specific directions in this Agreement in the investment or reinvestment of the Escrow Deposit Fund. The Escrow Agent shall be under no duty to inquire whether the Government Obligations as deposited in the Escrow Deposit Fund are properly invested under the Code.

Substitution of Certain Government Obligations. At 2.5.1 If so directed by the written direction of the CountySchool Board, the Escrow Agent shall accept in substitution for all or a portion of the Government Obligations listed in Schedule CB, Government Obligations (the "“Substituted Securities"”), the principal of and interest on which, together with any Government Obligations listed in Schedule C for which no substitution is made, will be sufficient to pay meet the requirements of payment of all principal of Basic Lease Payments represented by, and interest coming due on the Contract TDT Bonds upon maturity or early redemption on May 1Prepayment Price of, 2024 the Refunded Certificates as set forth in Schedule B C hereof. The foregoing notwithstanding, the substitution of Substituted Securities for any of the Government Obligations listed in Schedule B may be effected only upon compliance with this Section 2.4. At 2.5.2(a) and (b) below. 2.5.2 If so directed by the written direction of the County School Board at any time during the term of this Agreement, and provided that substituted Government Obligations are made available to the Escrow Agent, the Escrow Agent shall, upon receipt of the opinion and verification required hereinby (a) and (b) respectively below, sell, transfer, exchange or otherwise dispose of, or request the redemption of, all or a portion of the Government Obligations then held in the Escrow Deposit Fund, Trust Fund and shall substitute for such Government Obligations other Government Obligations, designated by the CountySchool Board, and acquired by the Escrow Agent with the proceeds derived from the sale, transfer, disposition, redemption of, or by the exchange of, such Government Obligations held in the Escrow Deposit Trust Fund, as applicable: (a) The Escrow Agent shall have received an opinion of nationally recognized counsel in the field of law relating to municipal bonds stating that such substitution complies with this Agreement and will not adversely affect the exclusion from gross income for federal income tax purposes of the portion of the Basic Lease Payments designated as interest on the Contract TDT Bonds or and represented by the Series 2016B Bonds 2016A Certificates and the Refunded Certificates and is not inconsistent with the statutes and regulations applicable to the Contract TDT BondsSeries 2016A Certificates and the Refunded Certificates; and (b) The Escrow Agent shall have received verification from a nationally recognized independent certified public accountant or firm of accountants stating that the principal of and interest on the substituted Government Obligations, together with any Government Obligations and a stated dollar amount of cash remaining in the Escrow Deposit Trust Fund, if any, as applicable, will be sufficient without reinvestment, to pay all principal of the remaining Basic Lease Payments represented by, and interest coming due on the Contract TDT Bonds upon maturity or early redemption on May 1Prepayment Price of, 2024the Refunded Certificates, as set forth in Schedule B C hereof. Notwithstanding anything to the contrary contained in this Agreement, any moneys resulting from the sale, transfer, disposition or redemption of the Government Obligations held hereunder and the substitution therefor of other Government Obligations which, based on the foregoing verification, are not necessary for the payment of all principal Basic Lease Payments represented by, and the Prepayment Price of and interest coming due on the Contract TDT Bonds upon maturity or early redemption on May 1, 2024Refunded Certificates, shall be transferred to the County in accordance with Section 2.6 hereofSchool Board. The Escrow Agent may conclusively rely on all specific directions in this Agreement in the investment or reinvestment of the Escrow Deposit Trust Fund. The Escrow Agent shall be under no duty to inquire whether the Government Obligations as deposited in the Escrow Deposit Trust Fund are properly invested under the Code.

Substitution of Certain Government Obligations. At 2.5.1 If so directed in writing by the written direction of the CountySchool Board, the Escrow Agent shall accept in substitution for all or a portion of the Government Obligations listed in Schedule CB, Government Obligations (the "“Substituted Securities"”), the principal of and interest on which, together with any Government Obligations listed in Schedule C for which no substitution is made, will be sufficient to pay meet the requirements of payment of all principal of Basic Lease Payments represented by, and interest coming due on the Contract TDT Bonds upon maturity or early redemption on May 1Prepayment Price of, 2024 the Refunded Series 2012A Certificates as set forth in Schedule B C hereof. The foregoing notwithstanding, the substitution of Substituted Securities for any of the Government Obligations listed in Schedule B may be effected only upon compliance with this Section 2.4. At 2.5.2(a) and (b) below. 2.5.2 If so directed in writing by the written direction of the County School Board at any time during the term of this Agreement, and provided that substituted Government Obligations are made available to the Escrow Agent, the Escrow Agent shall, upon receipt of the opinion and verification required hereinby (a) and (b) respectively below, sell, transfer, exchange or otherwise dispose of, or request the redemption of, all or a portion of the Government Obligations then held in the Escrow Deposit Fund, Fund and shall substitute for such Government Obligations other Government Obligations, designated by the CountySchool Board, and acquired by the Escrow Agent with the proceeds derived from the sale, transfer, disposition, redemption of, or by the exchange of, such Government Obligations held in the Escrow Deposit Fund, as applicable: (a) The Escrow Agent shall have received an opinion of nationally recognized counsel in the field of law relating to municipal bonds stating that such substitution complies with this Agreement and will not adversely affect the exclusion from gross income for federal income tax purposes of the portion of the Basic Lease Payments designated as interest on the Contract TDT Bonds or and represented by the Series 2016B Bonds 2022A Certificates and the Refunded Series 2012A Certificates and is not inconsistent with the statutes and regulations applicable to the Contract TDT BondsSeries 2022A Certificates and the Refunded Series 2012A Certificates; and (b) The Escrow Agent shall have received verification from a nationally recognized independent certified public accountant or firm of accountants stating that the principal of and interest on the substituted Government Obligations, together with any Government Obligations and a stated dollar amount of cash remaining in the Escrow Deposit Fund, if any, as applicable, will be sufficient without reinvestment, to pay all principal of the remaining Basic Lease Payments represented by, and interest coming due on the Contract TDT Bonds upon maturity or early redemption on May 1Prepayment Price of, 2024the Refunded Series 2012A Certificates, as set forth in Schedule B C hereof. Notwithstanding anything to the contrary contained in this Agreement, any moneys resulting from the sale, transfer, disposition or redemption of the Government Obligations held hereunder and the substitution therefor of other Government Obligations which, based on the foregoing verification, are not necessary for the payment of all principal Basic Lease Payments represented by, and the Prepayment Price of and interest coming due on the Contract TDT Bonds upon maturity or early redemption on May 1, 2024Refunded Series 2012A Certificates, shall be transferred to the County in accordance with Section 2.6 hereofSchool Board. The Escrow Agent may conclusively rely on all specific directions in this Agreement in the investment or reinvestment of the Escrow Deposit Fund. The Escrow Agent shall be under no duty to inquire whether the Government Obligations as deposited in the Escrow Deposit Fund are properly invested under the Code.

Substitution of Certain Government Obligations. At 2.5.1 If so directed by the written direction of the CountySchool Board, the Escrow Agent shall accept in substitution for all or a portion of the Government Obligations listed in Schedule CB, Government Obligations (the "“Substituted Securities"”), the principal of and interest on which, together with any Government Obligations listed in Schedule C for which no substitution is made, will be sufficient to pay meet the requirements of payment of all principal of Basic Lease Payments represented by, and interest coming due on the Contract TDT Bonds upon maturity or early redemption on May 1Prepayment Price of, 2024 the Refunded Certificates as set forth in Schedule B C hereof. The foregoing notwithstanding, the substitution of Substituted Securities for any of the Government Obligations listed in Schedule B may be effected only upon compliance with this Section 2.4. At 2.5.2(a) and (b) below. 2.5.2 If so directed by the written direction of the County School Board at any time during the term of this Agreement, and provided that substituted Government Obligations are made available to the Escrow Agent, the Escrow Agent shall, upon receipt of the opinion and verification required hereinby (a) and (b) respectively below, sell, transfer, exchange or otherwise dispose of, or request the redemption of, all or a portion of the Government Obligations then held in the Escrow Deposit Fund, Trust Fund and shall substitute for such Government Obligations other Government Obligations, designated by the CountySchool Board, and acquired by the Escrow Agent with the proceeds derived from the sale, transfer, disposition, redemption of, or by the exchange of, such Government Obligations held in the Escrow Deposit Trust Fund, as applicable: (a) The Escrow Agent shall have received an opinion of nationally recognized counsel in the field of law relating to municipal bonds stating that such substitution complies with this Agreement and will not adversely affect the exclusion from gross income for federal income tax purposes of the portion of the Basic Lease Payments designated as interest on the Contract TDT Bonds or and represented by the Series 2016B Bonds 2012A Certificates and the Refunded Certificates and is not inconsistent with the statutes and regulations applicable to the Contract TDT BondsSeries 2012A Certificates and the Refunded Certificates; and (b) The Escrow Agent shall have received verification from a nationally recognized independent certified public accountant or firm of accountants stating that the principal of and interest on the substituted Government Obligations, together with any Government Obligations and a stated dollar amount of cash remaining in the Escrow Deposit Trust Fund, if any, as applicable, will be sufficient without reinvestment, to pay all principal of the remaining Basic Lease Payments represented by, and interest coming due on the Contract TDT Bonds upon maturity or early redemption on May 1Prepayment Price of, 2024the Refunded Certificates, as set forth in Schedule B C hereof. Notwithstanding anything to the contrary contained in this Agreement, any moneys resulting from the sale, transfer, disposition or redemption of the Government Obligations held hereunder and the substitution therefor of other Government Obligations which, based on the foregoing verification, are not necessary for the payment of all principal Basic Lease Payments represented by, and the Prepayment Price of and interest coming due on the Contract TDT Bonds upon maturity or early redemption on May 1, 2024Refunded Certificates, shall be transferred to the County in accordance with Section 2.6 hereofSchool Board. The Escrow Agent may conclusively rely on all specific directions in this Agreement in the investment or reinvestment of the Escrow Deposit Trust Fund. The Escrow Agent shall be under no duty to inquire whether the Government Obligations as deposited in the Escrow Deposit Trust Fund are properly invested under the Code.

Substitution of Certain Government Obligations. At 2.5.1 If so directed by the written direction of the CountySchool Board, the Escrow Agent shall accept in substitution for all or a portion of the Government Obligations listed in Schedule CB, Government Obligations (the "“Substituted Securities"”), the principal of and interest on which, together with any Government Obligations listed in Schedule C for which no substitution is made, will be sufficient to pay meet the requirements of payment of all principal of Basic Lease Payments represented by, and interest coming due on the Contract TDT Bonds upon maturity or early redemption on May 1Prepayment Price of, 2024 the Refunded Certificates as set forth in Schedule B C hereof. The foregoing notwithstanding, the substitution of Substituted Securities for any of the Government Obligations listed in Schedule B may be effected only upon compliance with this Section 2.4. At 2.5.2(a) and (b) below. 2.5.2 If so directed by the written direction of the County School Board at any time during the term of this Agreement, and provided that substituted Government Obligations are made available to the Escrow Agent, the Escrow Agent shall, upon receipt of the opinion and verification required hereinby (a) and (b) respectively below, sell, transfer, exchange or otherwise dispose of, or request the redemption of, all or a portion of the Government Obligations then held in the Escrow Deposit Fund, Trust Fund and shall substitute for such Government Obligations other Government Obligations, designated by the CountySchool Board, and acquired by the Escrow Agent with the proceeds derived from the sale, transfer, disposition, redemption of, or by the exchange of, such Government Obligations held in the Escrow Deposit Trust Fund, as applicable: (a) The Escrow Agent shall have received an opinion of nationally recognized counsel in the field of law relating to municipal bonds stating that such substitution complies with this Agreement and will not adversely affect the exclusion from gross income for federal income tax purposes of the portion of the Basic Lease Payments designated as interest on the Contract TDT Bonds or and represented by the Series 2016B Bonds 2019A Certificates and the Refunded Certificates and is not inconsistent with the statutes and regulations applicable to the Contract TDT BondsSeries 2019A Certificates and the Refunded Certificates; and (b) The Escrow Agent shall have received verification from a nationally recognized independent certified public accountant or firm of accountants stating that the principal of and interest on the substituted Government Obligations, together with any Government Obligations and a stated dollar amount of cash remaining in the Escrow Deposit Trust Fund, if any, as applicable, will be sufficient without reinvestment, to pay all principal of the remaining Basic Lease Payments represented by, and interest coming due on the Contract TDT Bonds upon maturity or early redemption on May 1Prepayment Price of, 2024the Refunded Certificates, as set forth in Schedule B C hereof. Notwithstanding anything to the contrary contained in this Agreement, any moneys resulting from the sale, transfer, disposition or redemption of the Government Obligations held hereunder and the substitution therefor of other Government Obligations which, based on the foregoing verification, are not necessary for the payment of all principal Basic Lease Payments represented by, and the Prepayment Price of and interest coming due on the Contract TDT Bonds upon maturity or early redemption on May 1, 2024Refunded Certificates, shall be transferred to the County in accordance with Section 2.6 hereofSchool Board. The Escrow Agent may conclusively rely on all specific directions in this Agreement in the investment or reinvestment of the Escrow Deposit Trust Fund. The Escrow Agent shall be under no duty to inquire whether the Government Obligations as deposited in the Escrow Deposit Trust Fund are properly invested under the Code.

Substitution of Certain Government Obligations. At 2.5.1 If so directed by the written direction of the CountySchool Board, the Escrow Agent shall accept in substitution for all or a portion of the Government Obligations listed in Schedule CB, Government Obligations (the "“Substituted Securities"”), the principal of and interest on which, together with any Government Obligations listed in Schedule C for which no substitution is made, will be sufficient to pay meet the requirements of payment of all principal of Basic Lease Payments represented by, and interest coming due on the Contract TDT Bonds upon maturity or early redemption on May 1Prepayment Price of, 2024 the Refunded Certificates as set forth in Schedule B C hereof. The foregoing notwithstanding, the substitution of Substituted Securities for any of the Government Obligations listed in Schedule B may be effected only upon compliance with this Section 2.4. At 2.5.2(a) and (b) below. 2.5.2 If so directed by the written direction of the County School Board at any time during the term of this Agreement, and provided that substituted Government Obligations are made available to the Escrow Agent, the Escrow Agent shall, upon receipt of the opinion and verification required hereinby (a) and (b) respectively below, sell, transfer, exchange or otherwise dispose of, or request the redemption of, all or a portion of the Government Obligations then held in the Escrow Deposit Fund, Trust Fund and shall substitute for such Government Obligations other Government Obligations, designated by the CountySchool Board, and acquired by the Escrow Agent with the proceeds derived from the sale, transfer, disposition, redemption of, or by the exchange of, such Government Obligations held in the Escrow Deposit Trust Fund, as applicable: (a) The Escrow Agent shall have received an opinion of nationally recognized counsel in the field of law relating to municipal bonds stating that such substitution complies with this Agreement and will not adversely affect the exclusion from gross income for federal income tax purposes of the portion of the Basic Lease Payments designated as interest on the Contract TDT Bonds or and represented by the Series 2016B Bonds 2015A Certificates and the Refunded Certificates and is not inconsistent with the statutes and regulations applicable to the Contract TDT BondsSeries 2015A Certificates and the Refunded Certificates; and (b) The Escrow Agent shall have received verification from a nationally recognized independent certified public accountant or firm of accountants stating that the principal of and interest on the substituted Government Obligations, together with any Government Obligations and a stated dollar amount of cash remaining in the Escrow Deposit Trust Fund, if any, as applicable, will be sufficient without reinvestment, to pay all principal of the remaining Basic Lease Payments represented by, and interest coming due on the Contract TDT Bonds upon maturity or early redemption on May 1Prepayment Price of, 2024the Refunded Certificates, as set forth in Schedule B C hereof. Notwithstanding anything to the contrary contained in this Agreement, any moneys resulting from the sale, transfer, disposition or redemption of the Government Obligations held hereunder and the substitution therefor of other Government Obligations which, based on the foregoing verification, are not necessary for the payment of all principal Basic Lease Payments represented by, and the Prepayment Price of and interest coming due on the Contract TDT Bonds upon maturity or early redemption on May 1, 2024Refunded Certificates, shall be transferred to the County in accordance with Section 2.6 hereofSchool Board. The Escrow Agent may conclusively rely on all specific directions in this Agreement in the investment or reinvestment of the Escrow Deposit Trust Fund. The Escrow Agent shall be under no duty to inquire whether the Government Obligations as deposited in the Escrow Deposit Trust Fund are properly invested under the Code.

Substitution of Certain Government Obligations. At 2.4.1 If so directed in writing by the written direction of the CountySchool Board, the Escrow Agent shall accept in substitution for all or a portion of the Government Obligations listed in Schedule CB, Government Obligations (the "“Substituted Securities"”), the principal of and interest on which, together with any Government Obligations listed in Schedule C B for which no substitution is made, will be sufficient to pay meet the requirements of payment of all principal of Basic Lease Payments represented by, and interest coming due on the Contract TDT Bonds upon maturity or early redemption on May 1Prepayment Price of, 2024 the Refunded Certificates as set forth in Schedule B C hereof. The foregoing notwithstanding, the substitution of Substituted Securities for any of the Government Obligations listed in Schedule B may be effected only upon compliance with this Section 2.4. At 2.4.2(a) and (b) below. 2.4.2 If so directed by the written direction of the County School Board at any time during the term of this Agreement, and provided that substituted Government Obligations are made available to the Escrow Agent, the Escrow Agent shall, upon receipt of the opinion and verification required hereinby (a) and (b) respectively below, sell, transfer, exchange or otherwise dispose of, or request the redemption of, all or a portion of the Government Obligations then held in the Escrow Deposit Fund, Trust Fund and shall substitute for such Government Obligations other Government Obligations, designated by the CountySchool Board, and acquired by the Escrow Agent with the proceeds derived from the sale, transfer, disposition, redemption of, or by the exchange of, such Government Obligations held in the Escrow Deposit Trust Fund, as applicable: (a) The Escrow Agent shall have received an opinion of nationally recognized counsel in the field of law relating to municipal bonds stating that such substitution complies with this Agreement and will not adversely affect the exclusion from gross income for federal income tax purposes of the portion of the Basic Lease Payments designated as interest on the Contract TDT Bonds or and represented by the Series 2016B Bonds 2010B Certificates and the Refunded Certificates and is not inconsistent with the statutes and regulations applicable to the Contract TDT BondsSeries 2010B Certificates and the Refunded Certificates; and (b) The Escrow Agent shall have received verification from a nationally recognized independent certified public accountant or firm of accountants stating that the principal of and interest on the substituted Government Obligations, together with any Government Obligations and a stated dollar amount of cash remaining in the Escrow Deposit Trust Fund, if any, as applicable, will be sufficient without reinvestment, to pay all principal of the remaining Basic Lease Payments represented by, and interest coming due on the Contract TDT Bonds upon maturity or early redemption on May 1Prepayment Price of, 2024the Refunded Certificates, as set forth in Schedule B C hereof. Notwithstanding anything to the contrary contained in this Agreement, any moneys resulting from the sale, transfer, disposition or redemption of the Government Obligations held hereunder and the substitution therefor of other Government Obligations which, based on the foregoing verification, are not necessary for the payment of all principal Basic Lease Payments represented by, and the Prepayment Price of and interest coming due on the Contract TDT Bonds upon maturity or early redemption on May 1, 2024Refunded Certificates, shall be transferred to the County in accordance with Section 2.6 hereofSchool Board. The Escrow Agent may conclusively rely on all specific directions in this Agreement in the investment or reinvestment of the Escrow Deposit Trust Fund. The Escrow Agent shall be under no duty to inquire whether the Government Obligations as deposited in the Escrow Deposit Trust Fund are properly invested under the Code.

Substitution of Certain Government Obligations. At 2.5.1 If so directed by the written direction of the CountySchool Board, the Escrow Agent shall accept in substitution for all or a portion of the Government Obligations listed in Schedule CB, Government Obligations (the "“Substituted Securities"”), the principal of and interest on which, together with any Government Obligations listed in Schedule C for which no substitution is made, will be sufficient to pay meet the requirements of payment of all principal of Basic Lease Payments represented by, and interest coming due on the Contract TDT Bonds upon maturity or early redemption on May 1Prepayment Price of, 2024 the Refunded Certificates as set forth in Schedule B C hereof. The foregoing notwithstanding, the substitution of Substituted Securities for any of the Government Obligations listed in Schedule B may be effected only upon compliance with this Section 2.4. At 2.5.2(a) and (b) below. 2.5.2 If so directed by the written direction of the County School Board at any time during the term of this Agreement, and provided that substituted Government Obligations are made available to the Escrow Agent, the Escrow Agent shall, upon receipt of the opinion and verification required hereinby (a) and (b) respectively below, sell, transfer, exchange or otherwise dispose of, or request the redemption of, all or a portion of the Government Obligations then held in the Escrow Deposit Fund, Trust Fund and shall substitute for such Government Obligations other Government Obligations, designated by the CountySchool Board, and acquired by the Escrow Agent with the proceeds derived from the sale, transfer, disposition, redemption of, or by the exchange of, such Government Obligations held in the Escrow Deposit Trust Fund, as applicable: (a) The Escrow Agent shall have received an opinion of nationally recognized counsel in the field of law relating to municipal bonds stating that such substitution complies with this Agreement and will not adversely affect the exclusion from gross income for federal income tax purposes of the portion of the Basic Lease Payments designated as interest on the Contract TDT Bonds or and represented by the Series 2016B Bonds 2019B Certificates and the Refunded Certificates and is not inconsistent with the statutes and regulations applicable to the Contract TDT BondsSeries 2019B Certificates and the Refunded Certificates; and (b) The Escrow Agent shall have received verification from a nationally recognized independent certified public accountant or firm of accountants stating that the principal of and interest on the substituted Government Obligations, together with any Government Obligations and a stated dollar amount of cash remaining in the Escrow Deposit Trust Fund, if any, as applicable, will be sufficient without reinvestment, to pay all principal of the remaining Basic Lease Payments represented by, and interest coming due on the Contract TDT Bonds upon maturity or early redemption on May 1Prepayment Price of, 2024the Refunded Certificates, as set forth in Schedule B C hereof. Notwithstanding anything to the contrary contained in this Agreement, any moneys resulting from the sale, transfer, disposition or redemption of the Government Obligations held hereunder and the substitution therefor of other Government Obligations which, based on the foregoing verification, are not necessary for the payment of all principal Basic Lease Payments represented by, and the Prepayment Price of and interest coming due on the Contract TDT Bonds upon maturity or early redemption on May 1, 2024Refunded Certificates, shall be transferred to the County in accordance with Section 2.6 hereofSchool Board. The Escrow Agent may conclusively rely on all specific directions in this Agreement in the investment or reinvestment of the Escrow Deposit Trust Fund. The Escrow Agent shall be under no duty to inquire whether the Government Obligations as deposited in the Escrow Deposit Trust Fund are properly invested under the Code.