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

Transfers Outside Book-Entry System. If either (i) the Depository determines not to continue to act as Depository for the Certificates, or (ii) the City determines to terminate the Depository as such, then the City shall thereupon discontinue the book-­entry system with such Depository. In such event, the Depository will cooperate with the City and the Trustee in the delivery of replacement Certificates by providing the Trustee with a list showing the interests of the Depository System Participants in the Certificates, and by surrendering the Certificates, registered in the name of the Nominee, to the Trustee on or before the date such replacement Certificates are to be issued. The Depository, by accepting delivery of the Certificates, agrees to be bound by the provisions of this subsection (c). If, prior to the termination of the Depository acting as such, the City fails to identify another Securities Depository to replace the Depository, then the Certificates will no longer be required to be registered in the Registration Books in the name of the Nominee, but will be registered in whatever name or names the Owners transferring or exchanging Certificates shall designate, in accordance with the provisions hereof. If the City determines that it is in the best interests of the beneficial owners of the Certificates that they be able to obtain certificated Certificates, the City may notify the Depository System Participants of the availability of such certificated Certificates through the Depository. In that event, the Trustee will execute, transfer and exchange Certificates as required by the Depository and others in appropriate 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 the Certificates to any Depository System Participant having Certificates credited to its account with the Depository, or (ii) to arrange for another Securities Depository to maintain custody of a single certificate evidencing such Certificates, all at the City’s expense.

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

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

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

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