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stating that if not so tendered Bonds will be deemed tendered and interest thereon will cease to <br /> accrue on the Expiration Tender Date). <br /> The failure to mail such notice pursuant to clauses (i) and (ii) above with respect <br /> to any Bond shall not affect the validity of the mandatory purchase of all Bonds on such <br /> Mandatory Purchase Date. Any notice mailed shall be conclusively presumed to have been <br /> given, whether or not actually received by any Registered Owner. <br /> Payment of the Purchase Price of such Bonds shall be made by wire transfer in <br /> immediately available funds by the Registrar by the close of business on such Mandatory <br /> Purchase Date. <br /> (b) Notice of Mandatory Purchase Upon Event of Default Under <br /> Reimbursement Agreement. Written notice of mandatory purchase on a Default Tender Date <br /> shall be given by the Bank to the Registrar who shall, immediately upon receipt thereof, transmit <br /> a copy of such notice to all Notice Parties. No later than the third day next preceding the <br /> Mandatory Purchase Date, the Registrar shall give notice to the Registered Owners stating that <br /> the Bonds are required to be tendered for purchase (specifying the Mandatory Purchase Date and <br /> the procedures for tender and stating that if not so tendered Bonds shall be deemed tendered and <br /> interest thereon shall cease to accrue on the Mandatory Purchase Date). The failure to mail such <br /> notice with respect to any Bond shall not affect the validity of the mandatory purchase of all <br /> Bonds on such Mandatory Purchase Date. Any notice mailed shall be conclusively presumed to <br /> have been given, whether or not actually received by any owner. Payment of the Purchase Price <br /> shall be made by wire transfer to accounts designated by the Registered Owners in immediately <br /> available funds by the Registrar by the close of business on the Mandatory Purchase Date. <br /> -36- P:\CMW\CMW4ZL 11/20/01 <br />