RES 08-01 - Laserfiche WebLink

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(vii) All transfers of beneficial ownership interests in each Bond issued in • book-entry form shall be limited in principal amount to Authorized Denominations and shall be effected by procedures by the Depository with the Participants for recording and transferring the ownership of beneficial interests in such Bonds. (viii) In connection with any notice or other communication to be provided to the Holders pursuant to this Resolution by the Authority or Bond Registrar with respect to any consent or other action to be taken by Holders,the Depository shall consider the date of receipt of notice requesting such consent or other action as the record date for such consent or other action;provided,that the Authority or the Bond Registrar may establish a special record date for such consent or other action. The Authority or the Bond Registrar shall,to the extent possible, give the Depository notice of such special record date not less than fifteen calendar days in advance of such special record date. (ix) Any successor Bond Registrar in its written acceptance of its duties under this Resolution and any paying agency/bond registrar agreement, shall agree to take any actions necessary from time to time to comply with the requirements of the Letter of Representations. (x) In the case of a partial prepayment of a Bond,the Holder may,in lieu of surrendering the Bonds for a Bond of a lesser denomination as provided in paragraph 5 (with respect to redemption),make a notation of the reduction in principal amount on the panel provided on the Bond stating the amount so redeemed. (c) Termination of Book-Entry Only System. Discontinuance of a particular Depository's services and termination of the book-entry only system may be effected as follows: (i) The Depository may determine to discontinue providing its services with respect to the Bonds at any time by giving written notice to the Authority and discharging its responsibilities with respect thereto under applicable law. The Authority may terminate the services of the Depository with respect to the Bonds if it determines that the Depository is no longer able to carry out its functions as securities depository or the continuation of the system of book-entry transfers through the Depository is not in the best interests of the Authority or the Beneficial Owners. (ii) Upon termination of the services of the Depository as provided in the preceding paragraph, and if no substitute securities depository willing to undertake the functions of the Depository hereunder can be found which, in the opinion of the Authority,is willing and able to assume such functions upon reasonable or customary terms,or if the Authority determines that it is in the best interests of the Authority or the Beneficial Owners of the Bonds that the Beneficial Owners be able to obtain certificates for the Bonds,the Bonds shall no longer be registered as being registered in the bond register in the name of the Nominee,but may be registered in whatever name or names the Holder of the Bonds shall designate at that time, in accordance with paragraph 10 hereof(with respect to registration,transfer and exchange). To the extent that the Beneficial Owners are designated as the transferee by the Holders,in accordance with • 2114906v1 4