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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 - Document
Resolutions
City Clerk - Type
Agreement
Number
2006-35
Date
2/21/2006
Volume Book
166
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<br />- 6 - <br /> <br />Any of the parties hereto may terminate tills Agreement by gIVillg to the other partIes a notice m wTltmg <br />specifying the date of such termination, which shall be the earlier of (i) not less than 90 days after the date of gIving <br />such notice or (ii) the date on which the Deposits are repaId in full. Such notice shall not affect or terminate PublIc <br />Entity's security interest in the Eligible Collateral and Proceeds in the Account. Upon termination hereof, Bank of <br />New York shall follow such reasonable Written Instructions of Bank of Amenca and Public Entity concenung the <br />transfer of custody of Securities and Proceeds in the Account, collateral records and other items. Upon the date set <br />forth in the termination notice, this Agreement shall terminate except as otherwise provided herein and all <br />obligations of the parties to each other hereunder shall cease. <br /> <br />, <br /> <br />7. ConfidentialIty <br /> <br />Bank of New York agrees to hold in stnct confidence all informatIOn furnished to or obtained by Bank of <br />New York in the course of providing custodial servIces under this Agreement except to the extent (a) such <br />information was in the possession of Bank of New York prior to receipt thereof by Bank of New York under this <br />Agreement and not subject to an agreement of confidenlJality, (b) such information was m the public domam pnor to <br />receipt thereof by Bank of New York under tlus Agreement, (c) subsequent to receIpt by Bank of New York such <br />information becomes available in the public domaill through no fault of Bank of New York, (d) disclosure or release <br />is required by law or otherwise compelled by judIcial or admirIistrative process, (e) in the opinion of Bank of New <br />York's counsel disclosure of such information is requITed to be made to regulatory or self-regulatory authoritIes <br />having authonty to regulate any aspect of Bank of New York's business ill connectlOn WIth the exerCIse of such <br />authority, (f) disclosure is made to Bank of New York's officers, employees, directors, agents, counsel, or auditors <br />having a need to know such mformation and who have been mformed of the reqUIrements of this section and have <br />agreed to be bound thereby, (g) disclosure is made in accordance with the written consent of the party disclosing <br />such information to Bank of New York, or (h) the name, Qddress, securities posItIon and other mformation of Bank <br />of America or Public Entity or both are required to be dIsclosed by the rules of any stock exchange, the Book-Entry <br />System or any DepOSItory or the terms of the orgaruzatlonal documents of the Issuer of any Secunty or the terms of <br />any Security itself. <br /> <br />I <br /> <br />8. Miscellaneous <br /> <br />(a) Public EntIty and Bank of Amenca Each agree to furnish to Bank of New York a new CertIficate <br />substantially m the form of Exhibit B and ExhibIt C, respectively, attached hereto m the event that any present <br />Authorized Person ceases to be an Authorized Person or in the event that any other Authorized Persons are <br />appointed and authonzed, Until such new Certificate lS received, Bank of New York shall be fully protected ill <br />acting upon Oral Instructions or Written Instructions or sIgnatures of the present Authonzed Persons. <br /> <br />(b) Bank of New York shall be entItled 10 rely upon any Certlficale, Wntten or Oral InstructIOn <br />actually receIved by Bank of New Yark and reasonably believed by Bank of New Yark to be duly authonzed and <br />delivered. Bank of America and Public EntIty each agree to send to Bank of New York Wntten InstructIOns <br />confITming Oral InstructJons by the close of businESS of the same day that such Oral InstructIOns are gIven to Bank <br />of New York. Bank of Amenca and Public EntIty each agree that the fact that such confmrung Wntten InstructIons <br />are not received or that contrary Written InstructIOns or Oral Instructions are receIVed by Bank of New York shall <br />in no way affect the validity or enforceability of the transactions previously au than zed and effected by Bank of <br />New York. <br /> <br />(c) Any WrItten InstructIOns or other lDstrument m writing authonzed or reqUITed by this Agreement <br />shall be given to Bank of New York and shall be suffiCIently gIven If sent to Bank of New York by regular mail to ItS <br />offices at c/o The Bank of New York. One Wall Street. 5th Floor. New York. ]\1)' 10286. Attn: John Vmci. Vlce <br />President, or aL such other place as Bank of New Yark may from tIme to tune deSIgnate m \\-Titmg, <br /> <br />(d) Any nOl1ce or other instrument m \\11tlng authonzed or reqUIred by thlS Agreement to be gIven to <br />Bank of Amenca shall be sufficiently given If sent to Bank of Amenca by regular mall to Its offices at 200 N. I <br />College Street. NCl -00{-]3-06. Charlotte. NC 2825.5-000]. Attn. Collateral Mana"emenL. ar at such other place as <br />Bank of Arnenca may from lIme to time deSIgnate m wntmg <br />
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