Common use of Use of Depository Clause in Contracts

Use of Depository. (i) The Certificates shall be registered initially in the name of “Cede & Co.,” as nominee of DTC, with all Certificates maturing on the same maturity date and bearing the same interest rate in the form of a single certificate. Ownership of such immobilized Certificates, or any portions thereof, may not thereafter be transferred except (A) to any successor of DTC or its nominee, provided that any such successor shall be qualified under any applicable laws to provide the service proposed to be provided by it; (B) to any substitute depository appointed by the Committee pursuant to subsection (ii) below or such substitute depository’s successor; or (C) to any person as provided in subsection (iv) below. (ii) Upon the resignation of DTC or its successor (or any substitute depository or its successor) from its functions as depository or a determination by the Committee to discontinue the system of book-entry transfers through DTC or its successor (or any substitute depository or its successor), the Committee may hereafter appoint a substitute depository. Any such substitute depository shall be qualified under any applicable laws to provide the services proposed to be provided by it. (iii) In the case of any transfer pursuant to clause (A) or (B) of subsection (i) above, the Trustee shall, upon receipt of all outstanding Certificates, together with a written request on behalf of the Committee, issue a single new Certificate for each maturity of the immobilized Certificates then Outstanding, registered in the name of such successor or such substitute depository, or their nominees, as the case may be, all as specified in such written request. (iv) In the event that (A) DTC or its successor (or substitute depository or its successor) resigns from its functions as depository, and no substitute depository can be obtained, or (B) the State determines that it is in the best interest of the Beneficial Owners of any Certificates that Owners of Certificates be able to obtain those certificates in the form of the Certificates, the ownership of the Certificates may then be transferred to any person or entity as herein provided, and shall no longer be held in fully immobilized form. The State shall deliver a written request to the Trustee, together with a supply of definitive Certificates for that Series to issue Certificates as herein provided in any Authorized Denomination. Upon receipt by the Trustee of all then outstanding Certificates of that Series, together with a written request on behalf of the State to the Trustee, new Certificates of the same Series shall be issued in the appropriate denominations and registered in the names of those persons as are identified in such written request.

Use of Depository. Notwithstanding any provision of this Trust Agreement to the contrary: (ia) The At the request of the Original Purchaser, the Certificates shall be initially executed and delivered registered initially in the name of “Cede & Co.,” as nominee of DTCThe Depository Trust Company, with all Certificates the depository designated by the Original Purchaser, and shall be evidenced by one Certificate maturing on each of the same maturity date and bearing dates set forth in Section 2.03 hereof to be in a denomination corresponding to the same interest rate in the form of a single certificatetotal principal therein designated to mature on such date. Ownership Registered ownership of such immobilized Certificates, or any portions thereof, may not thereafter be transferred except except: (Ai) to any successor of DTC The Depository Trust Company or its nominee, or of any substitute depository designated pursuant to paragraph (ii) of this subsection (a) (“substitute depository”); provided that any such successor of The Depository Trust Company or substitute depository shall be qualified under any applicable laws to provide the service proposed to be provided by it; ; (Bii) to any substitute depository appointed by designated in a written request of the Committee pursuant to subsection District, upon (iii) below or such substitute depository’s successor; or (C) to any person as provided in subsection (iv) below. (ii) Upon the resignation of DTC The Depository Trust Company or its successor (or any substitute depository or its successor) from its functions as depository or (ii) a determination by the Committee to discontinue the system of book-entry transfers through DTC District that The Depository Trust Company or its successor (or is no longer able to carry out its functions as depository; provided that any substitute depository or its successor), the Committee may hereafter appoint a substitute depository. Any such substitute depository shall be qualified under any applicable laws to provide the services proposed to be provided by it; or (iii) to any person as provided below, upon (A) the resignation of The Depository Trust Company or its successor (or any substitute depository or its successor) from its functions as depository or (B) a determination by the District that The Depository Trust Company or its successor is no longer able to carry out its functions as depository; provided that no substitute depository which is not objected to by the District and the Trustee can be obtained. (iiib) In the case of any transfer pursuant to clause paragraph (Ai) or paragraph (Bii) of subsection (ia) above, the Trustee shallof this Section 2.14, upon receipt of all outstanding CertificatesOutstanding Certificates by the Trustee, together with a written request on behalf of a District Representative to the CommitteeTrustee, issue a single new Certificate shall be executed and delivered for each maturity of the immobilized Certificates such Certificate then Outstandingoutstanding, registered in the name of such successor or such substitute depository, depository or their nominees, as the case may be, all as specified in such written requestrequest of a District Representative. In the case of any transfer pursuant to paragraph (iii) of subsection (a) of this Section 2.14, upon receipt of all Outstanding Certificates by the Trustee together with a written request of a District Representative, new Certificates shall be executed and delivered in such denominations and registered in the names of such persons as are requested in a written request of the District provided the Trustee shall not be required to deliver such new Certificates within a period less than sixty (60) days from the date of receipt of such a written request of a District Representative. (ivc) In the event that case of partial redemption or an advance refunding of any Certificates evidencing all of the principal maturing in a particular year, The Depository Trust Company shall, at the District’s expense, deliver the Certificates to the Trustee for cancellation and re- registration to reflect the amounts of such reduction in principal. (Ad) The District and the Trustee shall be entitled to treat the person in whose name any Certificate is registered as the absolute Owner thereof for all purposes of this Trust Agreement and any applicable laws, notwithstanding any notice to the contrary received by the Trustee or the District and the District and the Trustee shall have no responsibility for the accuracy of any records maintained by DTC or any participant in DTC or transmitting payments to, communication with, notifying or otherwise dealing with any beneficial owners of the Certificates. Neither the District nor the Trustee will have any responsibility or obligations, legal or otherwise, to the beneficial owners or to any other party including The Depository Trust Company or its successor (or substitute depository or its successor), except for the registered owner of any Certificate. (e) resigns from So long as all outstanding Certificates are registered in the name of Cede & Co. or its functions registered assign, the District and the Trustee shall reasonably cooperate with Cede & Co., as depositorysole registered Owner, or its registered assign in effecting payment of the principal and redemption premium, if any, and no substitute depository can be obtained, or interest due with respect to the Certificates by arranging for payment in such manner that funds for such payments are properly identified and are made immediately available on the date they are due. (Bf) the State determines that it is So long as all Outstanding Certificates are registered in the best interest name of Cede & Co. or its registered assigns (hereinafter, for purposes of this paragraph (f), the Beneficial “Owner”): (i) All notices and payments addressed to the Owners of any Certificates that Owners of Certificates shall contain the Certificates’ CUSIP number. (ii) Notices to the Owner shall be able to obtain those certificates forwarded in the manner set forth in the form of the Certificates, the ownership Blanket Issuer Letter of the Certificates may then be transferred to any person or entity as herein provided, and shall no longer be held in fully immobilized form. The State shall deliver a written request to the Trustee, together with a supply of definitive Certificates for that Series to issue Certificates as herein provided in any Authorized Denomination. Upon receipt Representations executed by the Trustee of all then outstanding Certificates of that Series, together with a written request on behalf of the State to the Trustee, new Certificates of the same Series shall be issued in the appropriate denominations District and registered in the names of those persons as are identified in such written requestreceived and accepted by The Depository Trust Company.

Use of Depository. Notwithstanding any provision of this Trust Agreement to the contrary: (ia) The Certificates shall be initially executed, delivered and registered initially in the name of “Cede & Co.,” as nominee of DTCThe Depository Trust Company, with all Certificates the depository designated by the Original Purchaser, and shall be evidenced by one Certificate maturing on each of the same maturity date and bearing dates set forth in Section 2.03 hereof to be in a denomination corresponding to the same interest rate in the form of a single certificatetotal principal therein designated to mature on such date. Ownership Registered ownership of such immobilized Certificates, or any portions thereof, may not thereafter be transferred except except: (Ai) to any successor of DTC The Depository Trust Company or its nominee, or of any substitute depository designated pursuant to paragraph (ii) of this subsection (a) (“substitute depository”); provided that any such successor of The Depository Trust Company or substitute depository shall be qualified under any applicable laws to provide the service proposed to be provided by it; ; (Bii) to any substitute depository appointed by designated in a written request of the Committee pursuant to subsection (ii) below or such substitute depository’s successor; or (C) to any person as provided in subsection (iv) below.City, upon (iiA) Upon the resignation of DTC The Depository Trust Company or its successor (or any substitute depository or its successor) from its functions as depository or (B) a determination by the Committee to discontinue the system of book-entry transfers through DTC City that The Depository Trust Company or its successor (or is no longer able to carry out its functions as depository; provided that any substitute depository or its successor), the Committee may hereafter appoint a substitute depository. Any such substitute depository shall be qualified under any applicable laws to provide the services proposed to be provided by it; or (iii) to any person as provided below, upon (A) the resignation of The Depository Trust Company or its successor (or any substitute depository or its successor) from its functions as depository or (B) a determination by the City that The Depository Trust Company or its successor is no longer able to carry out its functions as depository; provided that no substitute depository which is not objected to by the City and the Trustee can be obtained. (iiib) In the case of any transfer pursuant to clause paragraph (Ai) or paragraph (Bii) of subsection (ia) above, the Trustee shallof this Section 2.14, upon receipt of all outstanding CertificatesOutstanding Certificates by the Trustee, together with a written request on behalf of a City Representative to the CommitteeTrustee, issue a single new Certificate shall be executed and delivered for each maturity of the immobilized Certificates such Certificate then Outstandingoutstanding, registered in the name of such successor or such substitute depository, depository or their nominees, as the case may be, all as specified in such written requestrequest of a City Representative. In the case of any transfer pursuant to paragraph (iii) of subsection (a) of this Section 2.14, upon receipt of all Outstanding Certificates by the Trustee together with a written request of a City Representative, new Certificates shall be executed and delivered in such denominations and registered in the names of such persons as are requested in a written request of the City provided the Trustee shall not be required to deliver such new Certificates within a period less than sixty (60) days from the date of receipt of such a written request of a City Representative. (ivc) In the event that case of partial redemption or an advance refunding of any Certificates evidencing all of the principal maturing in a particular year, The Depository Trust Company shall, at the City’s expense, deliver the Certificates to the Trustee for cancellation and re- registration to reflect the amounts of such reduction in principal. (Ad) The City and the Trustee shall be entitled to treat the person in whose name any Certificate is registered as the absolute Owner thereof for all purposes of this Trust Agreement and any applicable laws, notwithstanding any notice to the contrary received by the Trustee or the City and the City and the Trustee shall have no responsibility for the accuracy of any records maintained by DTC or any participant in DTC or transmitting payments to, communication with, notifying or otherwise dealing with any beneficial owners of the Certificates. Neither the City nor the Trustee will have any responsibility or obligations, legal or otherwise, to the beneficial owners or to any other party including The Depository Trust Company or its successor (or substitute depository or its successor), except for the registered owner of any Certificate. (e) resigns from So long as all outstanding Certificates are registered in the name of Cede & Co. or its functions registered assign, the City and the Trustee shall reasonably cooperate with Cede & Co., as depository, and no substitute depository can be obtainedsole registered Owner, or its registered assign in effecting payment of the principal and interest due with respect to the Certificates by arranging for payment in such manner that funds for such payments are properly identified and are made immediately available on the date they are due, in accordance with the Letter of Representations between DTC and the Trustee. (Bf) the State determines that it is So long as all Outstanding Certificates are registered in the best interest name of Cede & Co. or its registered assigns (hereinafter, for purposes of this paragraph (f), the Beneficial “Owner”): (i) All notices and payments addressed to the Owners of any Certificates that Owners of Certificates shall contain the Certificates’ CUSIP number. (ii) Notices to the Owner shall be able to obtain those certificates forwarded in the manner set forth in the form of the Certificates, the ownership DTC’s standard form blanket issuer letter of the Certificates may then be transferred to any person or entity as herein provided, and shall no longer be held in fully immobilized form. The State shall deliver a written request to the Trustee, together with a supply of definitive Certificates for that Series to issue Certificates as herein provided in any Authorized Denomination. Upon receipt representations executed by the Trustee of all then outstanding Certificates of that Series, together with a written request on behalf of the State to the Trustee, new Certificates of the same Series shall be issued in the appropriate denominations City and registered in the names of those persons as are identified in such written requestreceived and accepted by DTC.

Use of Depository. Except as may be provided by Supplemental Indenture and notwithstanding any provision of the Indenture to the contrary: (ia) The Certificates Bonds shall initially be evidenced by one Bond for each year in which the Bonds mature in denominations equal to the aggregate principal amount of the Bonds maturing in that year. Such Bonds shall be registered initially in the name of “"Cede & Co.,” " as nominee for The Depository Trust Company, the Depository for the Bonds. Registered ownership of DTC, with all Certificates maturing on the same maturity date and bearing the same interest rate in the form of a single certificate. Ownership of such immobilized CertificatesBonds, or any portions thereof, may not thereafter be transferred except except: (Ai) to To any successor of DTC The Depository Trust Company or its nominee, or to any substitute Depository designated pursuant to clause (ii) of this subsection (a) ("Substitute Depository"); provided that any such successor of The Depository Trust Company or substitute depository shall be qualified under any applicable laws to provide the service proposed to be provided by it; (B) to any substitute depository appointed by the Committee pursuant to subsection (ii) below or such substitute depository’s successor; or (C) to any person as provided in subsection (iv) below.; (ii) Upon To any substitute Depository not objected to by the Trustee, upon (1) the resignation of DTC The Depository Trust Company or its successor (or any substitute depository or its successor) from its functions as depository Depository, or (2) a determination by the Committee to discontinue the system of book-entry transfers through DTC Authority that The Depository Trust Company or its successor (or any substitute depository Substitute Depository or its successor), the Committee may hereafter appoint a substitute depository. Any ) is no longer able to carry out its functions as Depository; provided that any such substitute depository Substitute Depository shall be qualified under any applicable laws to provide the services proposed to be provided by it; or (iii) To any person as provided below, upon (1) the resignation of The Depository Trust Company or its successor (or Substitute Depository or its successor) from its functions as Depository; provided that no Substitute Depository which is not objected to by the Trustee can be obtained, or (2) a determination by the Authority that it is in the best interests of the Authority to remove The Depository Trust Company or its successor (or any Substitute Depository or its successor) from its function as Depository. (iiib) In the case of any transfer pursuant to clause (Ai) or clause (Bii) of subsection (i2.4(a) above, the Trustee shallhereof, upon receipt of all outstanding CertificatesOutstanding Bonds by the Trustee, together with a written request on behalf Certificate of the CommitteeAuthority to the Trustee, issue a single new Certificate Bond for each maturity of the immobilized Certificates then Outstandingshall be executed and delivered, registered in the name of such successor or such substitute depositorySubstitute Depository, or their nominees, as the case may be, all as specified in such written request. (iv) Certificate of the Authority. In the event that (A) DTC or its successor (or substitute depository or its successor) resigns from its functions as depository, and no substitute depository can be obtained, or (B) the State determines that it is in the best interest of the Beneficial Owners case of any Certificates that Owners transfer pursuant to clause (iii) of Certificates be able to obtain those certificates in subsection 2.4(a) hereof, upon receipt of all Outstanding Bonds by the form of the Certificates, the ownership of the Certificates may then be transferred to any person or entity as herein provided, and shall no longer be held in fully immobilized form. The State shall deliver a written request to the Trustee, Trustee together with a supply of definitive Certificates for that Series to issue Certificates as herein provided in any Authorized Denomination. Upon receipt by the Trustee of all then outstanding Certificates of that Series, together with a written request on behalf Certificate of the State Authority to the Trustee, new Certificates of the same Series Bonds shall be issued executed and delivered in the appropriate such denominations and registered in the names of those such persons as are identified requested in such written requestCertificate of the Authority; provided the Trustee shall not be required to deliver such new Bonds within a period less than 60 days from the date of receipt of such Certificate of the Authority. (c) In the case of partial redemption, cancellation or an advance refunding of any Bonds maturing in a particular year, The Depository Trust Company shall make an appropriate notation on such Bonds indicating the date and amounts of such reduction in principal, in form acceptable to the Trustee. (d) The Authority and the Trustee shall be entitled to treat the person in whose name any Bond is registered as the Owner thereof for all purposes of the Indenture and any applicable laws, notwithstanding any notice to the contrary received by the Trustee or the Authority; and the Authority and the Trustee shall have no responsibility for transmitting payments to, communicating with, notifying, or otherwise dealing with any beneficial owners of the Bonds. Neither the Authority nor the Trustee will have any responsibility or obligations, legal or otherwise, to the beneficial owners or to any other party including The Depository Trust Company or its successor (or Substitute Depository or its successor), except for the Owner of any Bond. (e) So long as all outstanding Bonds are registered in the name of "Cede & Co." or its registered assign, the Authority and the Trustee shall cooperate with "Cede & Co.", as sole registered Owner, and its registered assigns in effecting payment of the principal, redemption premium, if any, and interest on the Bonds by arranging for payment in such manner that funds for such payments are properly identified and are made immediately available on the date they are due.

Use of Depository. Notwithstanding any provision of the Indenture to the contrary: (ia) The Certificates Bonds shall be initially issued in book-entry form as provided in Section 2.02. The Bonds will be initially registered initially in the name of “Cede & Co.,” , as nominee of DTC, with all Certificates maturing on the same maturity date and bearing Depository. Registered ownership of the same interest rate in the form of a single certificate. Ownership of such immobilized CertificatesBonds, or any portions portion thereof, may not thereafter be transferred except except: (Ai) to To any successor of DTC the Depository or its nominee, or to any substitute depository designated pursuant to clause (ii) of this subsection (a) (a “substitute depository”); provided that any such successor of the Depository or substitute depository shall be qualified under any applicable laws to provide the service proposed to be provided by it; (B) to any substitute depository appointed by the Committee pursuant to subsection (ii) below or such substitute depository’s successor; or (C) to any person as provided in subsection (iv) below.; (ii) Upon To any substitute depository designated by the Authority (at the direction of the Corporation) and not objected to by the Trustee, upon (1) the resignation of DTC the Depository or its successor (or any substitute depository or its successor) from its functions as depository or (2) a determination by the Committee to discontinue Authority (with the system concurrence of book-entry transfers through DTC the Corporation) that the Depository or its successor (or any substitute depository or its successor), the Committee may hereafter appoint a substitute ) is no longer able to carry out its functions as depository. Any ; provided that any such substitute depository shall be qualified under any applicable laws to provide the services proposed to be provided by it; or (iii) To any person as provided below, upon (1) the resignation of the Depository or its successor (or any substitute depository or its successor) from its functions as depository; provided that no substitute depository which is not objected to by the Trustee can be obtained or (2) a determination by the Authority that it is in the best interests of the Authority to remove the Depository or its successor (or any substitute depository or its successor) from its functions as depository. (iiib) In the case of any transfer pursuant to clause (Ai) or clause (Bii) of subsection (ia) above, the Trustee shallhereof, upon receipt of all outstanding Certificatesthe Outstanding Bonds by the Trustee, together with a written request on behalf Certificate of the CommitteeAuthority to the Trustee, issue a single new Certificate Bond for each maturity of Bonds then outstanding shall be authenticated and delivered in the immobilized Certificates aggregate principal amount of the Bonds of each such respective maturity then Outstanding, registered in the name of such successor or such substitute depository, or their nominees, as the case may be, all as specified in such written request. (iv) Certificate of the Authority. In the event that case of any transfer pursuant to clause (Aiii) DTC or its successor of subsection (or substitute depository or its successora) resigns from its functions as depositoryhereof, and no substitute depository can be obtained, or (B) the State determines that it is in the best interest upon receipt of the Beneficial Owners of any Certificates that Owners of Certificates be able to obtain those certificates in the form of the Certificates, the ownership of the Certificates may then be transferred to any person or entity as herein provided, and shall no longer be held in fully immobilized form. The State shall deliver a written request to the Trustee, together with a supply of definitive Certificates for that Series to issue Certificates as herein provided in any Authorized Denomination. Upon receipt Outstanding Bonds by the Trustee of all then outstanding Certificates of that Series, together with a written request on behalf of the State to the Trustee, new Certificates of the same Series Bonds shall be issued authenticated and delivered in the appropriate such denominations numbered in consecutive order and registered in the names of those such persons as are identified requested in such written requesta Certificate of the Authority, subject to the limitations of Section 2.02 hereof, provided the Trustee shall not be required to deliver such new Bonds within a period less than sixty (60) days from the date of receipt of such a Certificate of the Authority. (c) In the case of partial redemption or an advance refunding of the Bonds evidencing all or a portion of the principal amount Outstanding, the Securities Depository shall make an appropriate notation on the Bonds indicating the date and amounts of such reduction in principal. (d) The Authority, the Corporation and the Trustee shall be entitled to treat the person in whose name any Bond is registered as the Owner thereof for all purposes of the Indenture and any applicable laws, notwithstanding any notice to the contrary received by the Trustee or the Authority; and neither the Authority, the Corporation nor the Trustee shall have any responsibility for transmitting payments to, communication with, notifying, or otherwise dealing with any beneficial owners of the Bonds. Neither the Authority nor the Trustee will have any responsibility or obligations, legal or otherwise, to the beneficial owners or to any other party including the Depository or its successor (or any substitute depository or its successor), except for the Owner of any Bond. (e) So long as the outstanding Bonds are registered in the name of Cede & Co. or its registered assigns, the Authority and the Trustee shall cooperate with Cede & Co., as sole registered Owner, and its registered assigns in effecting payment of the principal of, Redemption Price and interest on the Bonds by arranging for payment in such manner that funds for such payments are properly identified and are made immediately available on the date they are due.