Laserfiche WebLink
of any Bond shall bind every future Owner of the same Bond in respect of anything done or <br />suffered to be done by the Authority or the Trustee in pursuance of such request or consent. <br />Section 2.11. Book Entry System. <br />(a) Original Deliverv. The Bonds shall be initially delivered in the <br />form of a sepazate single fully registered Bond (which may be typewrirten) for each maturity. <br />Upon initial delivery, the ownership of each such Bond shall be registered on the Bond <br />Register kept by [he Trustee in the name of the Nominee. Except as provided in subsection <br />(c), the ownership of all of the Outstanding Bonds shall be registered in the name of the <br />Nominee. <br />With respect to Bonds the ownership of which shall be registered in the <br />name of the Nominee, [he Authority and the Trustee shall have no responsibility or obligation <br />to any Depository System Participant or to any person on behalf of which the Authority holds <br />an interest in the Bonds. Without limiting the generality of the immediately preceding <br />sentence, the Authority and the Trustee shall have no responsibility or obligation with respect <br />to the accuracy of the records of the Depository, the Nominee or any Depository System <br />Participant with respect to any ownership interest in the Bonds, (ii) the delivery to any <br />Depository System Participant or any other person, other than a Bond Owner as shown in the <br />Bond Register, or any notice with respect to the Bonds, including any notice of redemption, <br />(iii) [he selection by the Depository of the beneficial interests in the Bonds to be prepaid in the <br />event the Authority elects to redeem the Bond in par[, (iv) the payment to any Depository <br />System Participant or any other person, other than a Bond Owner as shown in the Bond <br />Register, of any amount with respect to principal, premium, if any, or interest on the Bonds, or <br />(v) any consent given or other action taken by the Depository as Owner of [he Bonds. The <br />Authority and the Trustee may treat and consider the person in whose name each Bond is <br />registered as the absolute owner of such Bonds for the purpose of payment of principal of, <br />premium, if any, and interest on such Bonds for the purpose of giving notices of redemption <br />and other matters with respect to suckBonds, for the purpose of registering transfers of <br />ownership of such Bonds, and for all other purposes whatsoever. The Trustee shall pay the <br />principal of and the interest and premium, if any, on the Bonds only to the respective Owners <br />or their respective attorneys duly authorized in writing, and all such payments shall be valid <br />and effective to fully satisfy and discharge all obligations with respect to payment of principal <br />of and interest and premium, if any, on the Bonds to the extent of the sum or sums so paid. <br />No person other than an Owner shall receive a Bond evidencing the obligation of the <br />Authority to make payments of principal, interest and premium, if any, pursuant to this Trust <br />Agreement. Upon delivery by the Depository to the Nominee of written notice to the effect <br />that the Depository has determined to substitute a new Nominee in its place, and subject to the <br />provisions herein with respect to Record Dates, such new nominee shall become the Nominee <br />hereunder for all purposes; and upon receipt of such a notice of the Authority shall promptly, <br />but in no even[ later than two (2) Business Days after receipt thereof, deliver a copy of the <br />same to the Trustee. <br />23 <br />940fi901M.LAl <br />