Common use of Transfers Outside Book-Entry System Clause in Contracts

Transfers Outside Book-Entry System. (1) In the event that either (i) the Depository determines not to continue to act as Depository for a Series of Notes, or (ii) the City determines to terminate the Depository as such, then the City shall thereupon discontinue the book-entry system with such Depository with respect to such Series of Notes. In such event, the Depository shall cooperate with the City and the Issuing and Paying Agent in the issuance of replacement Notes by providing the Issuing and Paying Agent with a list showing the interests of the Depository System Participants in such Series of Notes and by surrendering such Notes registered in the name of the Nominee to the Issuing and Paying Agent on or before the date such replacement Notes are to be issued. The Depository by accepting delivery of such Notes, agrees to be bound by the provisions of this subsection 2.08(c). If, prior to the termination of the Depository acting as such, the City fails to identify another qualified securities depository to replace the Depository, then the Notes shall no longer be required to be re-registered in the name of the Nominee, but shall be re-registered in whatever name or names the Owners of the Notes transferring or exchanging Notes shall designate, in accordance with the provisions of this Section 2.08. (2) In the event the City determines that it is in the best interests of the beneficial owners of a Series of Notes that they be able to obtain certificated Notes, the City may notify the Depository System Participants of the availability of such certificated Notes through the Depository. In such event the Issuing and Paying Agent will issue, transfer and exchange Notes as required by the Depository and others in appropriate amounts, and whenever the Depository in taking appropriate action (i) to make available one or more separate certificates evidencing such Series of Notes to any Depository System Participant having such Notes credited to its account with the Depository, or

Transfers Outside Book-Entry System. (1) In the event that If either (i) the Depository determines not to continue to act as Depository for a Series of Notesthe Certificates, or (ii) the City District determines to terminate the Depository as such, then the City District shall thereupon discontinue the book-entry system with such Depository with respect to such Series of NotesDepository. In such event, the Depository shall cooperate with the City District and the Issuing and Paying Agent Trustee in the issuance of replacement Notes Certificates by providing the Issuing and Paying Agent Trustee with a list showing the interests of the Depository System Participants in such Series of Notes the Certificates, and by surrendering such Notes the Certificates, registered in the name of the Nominee Nominee, to the Issuing and Paying Agent Trustee on or before the date such replacement Notes Certificates are to be issuedexecuted and delivered. The Depository Depository, by accepting delivery of such Notesthe Certificates, agrees to be bound by the provisions of this subsection 2.08(c(c). If, prior to the termination of the Depository acting as such, the City District fails to identify another qualified securities depository Securities Depository to replace the Depository, then the Notes Certificates shall no longer be required to be re-registered in the Registration Books in the name of the Nominee, but shall be re-registered in whatever name or names the Owners of the Notes transferring or exchanging Notes Certificates shall designate, in accordance with the provisions of this Section 2.08. (2) In hereof. If the event the City District determines that it is in the best interests of the beneficial owners of a Series of Notes the Certificates that they be able to obtain certificated NotesCertificates, the City District may notify the Depository System Participants of the availability of such certificated Notes Certificates through the Depository. In such event event, the Issuing and Paying Agent Trustee will issueexecute, register, transfer and exchange Notes Certificates as required by the Depository and others in appropriate amounts, ; and whenever the Depository requests, the Trustee and the District shall cooperate with the Depository in taking appropriate action (iy) to make available one or more separate certificates evidencing such Series of Notes the Certificates to any Depository System Participant having such Notes Certificates credited to its account with the Depository, oror (z) to arrange for another Securities Depository to maintain custody of a single certificate evidencing such Certificates, all at the District’s expense.

Transfers Outside Book-Entry System. (1) In the event that If either (i) the Depository determines not to continue to act as Depository for a Series of Notesthe Certificates, or (ii) the City District determines to terminate the Depository as such, then the City District shall thereupon discontinue the book-book- entry system with such Depository with respect to such Series of NotesDepository. In such event, the Depository shall cooperate with the City District and the Issuing and Paying Agent Trustee in the issuance execution and delivery of replacement Notes Certificates by providing the Issuing and Paying Agent Trustee with a list showing the interests of the Depository System Participants in such Series of Notes the Certificates, and by surrendering such Notes the Certificates, registered in the name of the Nominee Nominee, to the Issuing and Paying Agent Trustee on or before the date such replacement Notes Certificates are to be issuedexecuted and delivered. The Depository Depository, by accepting delivery of such Notesthe Certificates, agrees to be bound by the provisions of this subsection 2.08(c(c). If, prior to the termination of the Depository acting as such, the City District fails to identify another qualified securities depository Securities Depository to replace the Depository, then the Notes Certificates shall no longer be required to be re-registered in the Registration Books in the name of the Nominee, but shall be re-registered in whatever name or names the Owners of the Notes transferring or exchanging Notes Certificates shall designate, in accordance with the provisions of this Section 2.08. (2) In hereof. If the event the City District determines that it is in the best interests of the beneficial owners of a Series of Notes the Certificates that they be able to obtain certificated NotesCertificates, the City District may notify the Depository System Participants of the availability of such certificated Notes Certificates through the Depository. In such event event, the Issuing and Paying Agent Trustee will issueexecute, transfer and exchange Notes Certificates as required by the Depository and others in appropriate amounts, ; and whenever the Depository requests, the Trustee and the District shall cooperate with the Depository in taking appropriate action (iy) to make available one or more separate certificates evidencing such Series of Notes the Certificates to any Depository System Participant having such Notes Certificates credited to its account with the Depository, oror (z) to arrange for another Securities Depository to maintain custody of a single certificate evidencing such Certificates, all at the District’s expense.

Transfers Outside Book-Entry System. (1) In the event that If either (i) the Depository determines not to continue to act as Depository for a Series of Notesthe Certificates, or (ii) the City District determines to terminate the Depository as such, then the City District shall thereupon discontinue the book-book- entry system with such Depository with respect to such Series of NotesDepository. In such event, the Depository shall cooperate with the City District and the Issuing and Paying Agent Trustee in the issuance execution and delivery of replacement Notes Certificates by providing the Issuing and Paying Agent Trustee with a list showing the interests of the Depository System Participants in such Series of Notes the Certificates, and by surrendering such Notes the Certificates, registered in the name of the Nominee Nominee, to the Issuing and Paying Agent Trustee on or before the date such replacement Notes Certificates are to be issuedexecuted and delivered. The Depository Depository, by accepting delivery of such Notesthe Certificates, agrees to be bound by the provisions of this subsection 2.08(c(c). If, prior to the termination of the Depository acting as such, the City District fails to identify another qualified securities depository Securities Depository to replace the Depository, then the Notes Certificates shall no longer be required to be re-registered in the Registration Books in the name of the Nominee, but shall be re-registered in whatever name or names the Owners of the Notes transferring or exchanging Notes Certificates shall designate, in accordance with the provisions of this Section 2.08. (2) In hereof. If the event the City District determines that it is in the best interests of the beneficial owners of a Series of Notes the Certificates that they be able to obtain certificated NotesCertificates, the City District may notify the Depository System Participants of the availability of such certificated Notes Certificates through the Depository. In such event event, the Issuing and Paying Agent Trustee will issueexecute, transfer and exchange Notes Certificates as required by the Depository and others in appropriate amounts, ; and whenever the Depository requests, the Trustee and the District shall cooperate with the Depository in taking appropriate action (i) to make available one or more separate certificates evidencing such Series of Notes the Certificates to any Depository System Participant having such Notes Certificates credited to its account with the Depository, oror (ii) to arrange for another Securities Depository to maintain custody of a single certificate evidencing such Certificates, all at the District’s expense.

Transfers Outside Book-Entry System. (1) In the event that If either (i) the Depository determines not to continue to act as Depository for a Series of Notesthe Certificates, or (ii) the City determines to terminate the Depository as such, then the City shall thereupon discontinue the book-entry book-­entry system with such Depository with respect to such Series of NotesDepository. In such event, the Depository shall will cooperate with the City and the Issuing and Paying Agent Trustee in the issuance delivery of replacement Notes Certificates by providing the Issuing and Paying Agent Trustee with a list showing the interests of the Depository System Participants in such Series of Notes the Certificates, and by surrendering such Notes the Certificates, registered in the name of the Nominee Nominee, to the Issuing and Paying Agent Trustee on or before the date such replacement Notes Certificates are to be issued. The Depository Depository, by accepting delivery of such Notesthe Certificates, agrees to be bound by the provisions of this subsection 2.08(c(c). If, prior to the termination of the Depository acting as such, the City fails to identify another qualified securities depository Securities Depository to replace the Depository, then the Notes shall Certificates will no longer be required to be re-registered in the Registration Books in the name of the Nominee, but shall will be re-registered in whatever name or names the Owners of the Notes transferring or exchanging Notes Certificates shall designate, in accordance with the provisions of this Section 2.08. (2) In the event hereof. If the City determines that it is in the best interests of the beneficial owners of a Series of Notes the Certificates that they be able to obtain certificated NotesCertificates, the City may notify the Depository System Participants of the availability of such certificated Notes Certificates through the Depository. In such event that event, the Issuing and Paying Agent Trustee will issueexecute, transfer and exchange Notes Certificates as required by the Depository and others in appropriate amounts, amounts;; and whenever the Depository requests, the Trustee and the City shall cooperate with the Depository in taking appropriate action (i) to make available one or more separate certificates evidencing such Series of Notes the Certificates to any Depository System Participant having such Notes Certificates credited to its account with the Depository, oror (ii) to arrange for another Securities Depository to maintain custody of a single certificate evidencing such Certificates, all at the City’s expense.