Trustee as Tender Agent. Whenever in this Indenture, certain rights or duties are conferred upon the Tender Agent, and no Tender Agent is appointed, such rights and duties shall be performed by the Trustee.
Trustee as Tender Agent. Pursuant to Section 2.5 of the Agreement, the Issuer hereby appoints the Trustee to act as tender agent in connection with tenders of Variable Rate Bonds. The Trustee shall act as tender agent for the Obligor. The Trustee hereby agrees to act as tender agent only upon the terms and conditions set forth in this Indenture. It is understood and agreed by the Issuer and the Trustee that the Issuer has obtained the Trustee's agreement to act as tender agent pursuant to the Issuer's agreement to do so in the Agreement and that the Obligor and the Bank shall be beneficiaries of such agreement. It is further recognized, however, that provision for such tender agent will also benefit the Bondholders. Consequently, it is agreed that the Trustee's obligations as tender agent shall be enforceable by either the Obligor or the Bank, as the case may be. Nothing herein, however, shall be construed as a requirement that the Trustee prepare any form of notice to be provided hereunder.
