Ord 1988-019 - Laserfiche WebLink

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(b) MTrust, as Paying Agent and on behalf of the Issuer, shall pay when due interest on the Bond or Bonds, such payment to be made by computing the amount of interest to be paid each Owner, preparing the checks and mailing the checks on the payment date, to the Owners of the Bonds (or their Predecessor Bonds) on the Record Date, addressed to their address appearing on the Register on the Record Date, provided that MTrust shall have been provided by or on behalf of the Issuer adequate funds to make such payment. Section 3.02. Payment Dates. The Issuer hereby instructs MTrust to pay the principal of and interest on the Bonds at the dates specified in the Bond Resolution. ARTICLE FOUR REGISTRAR Section 4.01. Transfer and Exchange. (a) The Issuer shall keep the Register at the MTrust Office, and subject to such reasonable written regulations as the Issuer may prescribe, which regulations shall be furnished to MTrust herewith or subsequent hereto by Issuer Order, the Issuer shall provide for the registration and transfer of the Bonds. MTrust is hereby appointed "Registrar" for the pûrpose of registering and transferring the Bonds as herein provided. MTrust agrees to maintain the Register while it is the Registrar. (b) The Registrar hereby agrees that at any time while any Bond is outstanding an Owner may deliver such Bond to the Registrar for transfer or exchange, accompanied by instructions from the Owner, or the duly authorized designee of the Owner, designating the persons, the maturities and the principal amounts to and in which such Bond is to be transferred and the addresses of such persons, and the Registrar shall thereupon, within not more than three business days, register and deliver such Bond or Bonds as provided in such instructions. The provisions of the Bond Resolution shall control the procedures for transfer or exchange set forth herein to the extent such procedures are in conflict with the provisions of the Bond Resolution. (c) Every Bond surrendered for transfer or exchange shall be duly endorsed or be accompanied by a written instrument of transfer, the signature on which has been guaranteed by an officer of a federal or state bank or a member of the National Association of Securities Dealers, in form satisfactory to MTrust, duly executed by the Owner thereof or his attorney duly authorized in writing. (d) The Registrar may request any supporting documentation it feels necessary to effect a reregistration. 2430f -4-