Ord 1987-001 - Laserfiche WebLink

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(b) The Bank, as Paying Agent and on behalf of the Issuer, shall pay when due interest on the Obligation or Obligations, 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 Obligations (or their Predecessor Obligations) on the Record Date, addressed to their address appearing on the Register, provided that the Bank 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 the Bank to pay the principal of and interest on the Obligations 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 Bank Office and, subject to such reasonable written regulations as the Issuer may prescribe (which regulations shall be furnished the Bank herewith or subsequent hereto by Issuer Order), the Issuer shall provide for the registration and transfer of the Obligations. The Bank is hereby appointed "Registrar" for the purpose of registering and transferring the Obligations as herein provided. The Bank agrees to maintain the Register while it is Registrar. (b) The Registrar hereby agrees that at any time while any Obligation is outstanding a Owner may deliver such Obligation 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 Obligation is to be transferred and the addresses of such persons, and the Registrar shall thereupon, within not more than three (3) business days, register and deliver such Obligation or Obligations 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 Obligation 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 the Bank, duly executed by the Owner thereof or his attorney duly authorized in writing. (d) Registrar may request any supporting documentation it feels necessary to effect are-registration. Section 4.02, Obligations. The Issuer shall provide an adequate inventory of unregistered Obligations to facilitate transfers as provided in the Bond Resolution. The Bank covenants that it will maintain the unregistered Obligations in safekeeping and will use reasonable care in maintaining such unregistered Obligations in safekeeping, which shall be not less than the care it maintains for debt securities of 1426f -4-