Ordinance 3405-14 - Laserfiche WebLink

such documents, if any, as are required in accordance with the terms of such Liquidity Facility or Credit Facility to cause the amounts available under such Liquidity Facility or Credit Facility to be reduced in respect of such Bonds so redeemed. Section 3.06. The Tender Agent. The Bond Registrar is hereby appointed by the City as the initial Tender Agent for the Bonds. The Tender Agent shall designate its corporate office, and any Tender Agent other than the Bond Registrar shall signify its acceptance of the duties and obligations imposed upon it hereunder by a written instrument of acceptance delivered to the City, the Bond Registrar and the Liquidity Facility Provider under which the Tender Agent will agree, particularly: (a) To hold all Index Floating Rate Bonds, Variable Rate Bonds, Short-Term Rate Bonds and Long-Term Rate Bonds delivered to it for purchase hereunder as agent and bailee of and in escrow for the benefit of, the respective Registered Owners which shall have so delivered such Bonds until moneys representing the Purchase Price of such Bonds shall have been delivered to or for the account of or to the order of such Registered Owners; (b) To hold all moneys, other than proceeds of drawings under the Liquidity Facility, delivered to it hereunder for the purchase of Bonds as agent and bailee of, and in escrow for the exclusive benefit of, the person or entity which shall have so delivered such moneys until the Bonds purchased with such moneys shall have been delivered to or for the account of such person or entity; (c) To hold all moneys delivered to it hereunder from drawings under the Liquidity Facility for the purchase of Index Floating Rate Bonds, Variable Rate Bonds, Short-Term Rate Bonds and Long-Term Rate Bonds as agent and bailee of, and in escrow for the exclusive benefit of, the Registered Owners who shall deliver Bonds to it for purchase until the Bonds purchased -57- P 120287_CM\M20287_AMT 10/14/14