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Res 2006-035
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Res 2006-035
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Last modified
8/2/2006 10:34:15 AM
Creation date
8/2/2006 10:18:33 AM
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City Clerk
City Clerk - Document
Resolutions
City Clerk - Type
Agreement
Number
2006-35
Date
2/21/2006
Volume Book
166
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<br />, <br /> <br />1 <br /> <br />I <br /> <br />1 <br /> <br />Any sale of the Collateral, or any part thereof, made by Depositor hereunder may be either <br />at public or private sale; provided, however, Depositor shall give to Bank ten days written <br />notice of the time and place where such sale shall take place, and such sale shall be to the <br />highest bidder therefor for cash. Depositor and Bank shall have the right to bid at such <br />sale. <br /> <br />VII. <br /> <br />If Bank shall desire to sell or otherwise dispose of anyone or more of the securities so <br />deposited with Custodian, it may substitute for anyone or more of such securities other <br />securities of the same market value and of the character authorized herein. Such right of <br />substitution shall remain in full force and may be exercised by Bank as often as it may <br />desire. <br /> <br />VIII. <br /> <br />Either Depositor or Bank shall have the right to terminate this Agreement by advance <br />written notice to the other of its election to do so, and this Agreement shall be void from <br />and after the expiration of sixty days after the receipt of such notice, provided all <br />provisions of this agreement have been fulfilled. The Bank will automatically terminate <br />this Agreement when a Depositor has not required collateral coverage for one year. <br />The Depositor will be notified of this termination at the following address and/or <br />telephone number and/or fax: <br /> <br />ADDRESS: <br />ADDRESS: <br />CITY, STATE, ZIP CODE: <br />TELEPHONE NUMBER: <br />FAX NUMBER: <br /> <br /> <br />IX. <br /> <br />Any notice required to be given to Bank in writing shall be sufficient if delivered to the <br />following address: <br /> <br />Bank of America <br />Collateral Management <br /> <br />NCI-007-25-03 <br />100 N. Tryon St. <br />Charlotte, NC 28255-0001 <br /> <br />3 <br />
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