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Ordinance 3405-14
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Ordinance 3405-14
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10/16/2014 11:26:10 AM
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Ordinances
Ordinance Number
3405-14
Date
10/8/2014
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(1) Shall, in case of a written notice, be delivered to the Tender Agent and the <br /> Remarketing Agent at their respective designated corporate offices and be in form satisfactory to <br /> the Tender Agent and the Remarketing Agent; <br /> (2) Shall state, whether delivered in writing or by Electronic Notice, (A) the <br /> principal amount of the Variable Rate Bond to which the notice relates and the CUSIP number of <br /> such Variable Rate Bond, (B) that the Registered Owner irrevocably demands purchase of such <br /> Variable Rate Bond or a specified portion thereof in an Authorized Denomination, (C) the <br /> Purchase Date on which such Variable Rate Bond or portion thereof is to be purchased and (D) <br /> payment instructions with respect to the Purchase Price; and <br /> (3) Shall automatically constitute, whether delivered in writing or by <br /> Electronic Notice, (A) an irrevocable offer to sell the Variable Rate Bond (or portion thereof) to <br /> which such notice relates on the Purchase Date, to any purchaser selected by the Remarketing <br /> Agent, at a price equal to the Purchase Price, (B) an irrevocable authorization and instruction to <br /> the Tender Agent to effect transfer of such Variable Rate Bond (or portion thereof) upon receipt <br /> by the Tender Agent of funds sufficient to pay the Purchase Price thereof on the Purchase Date, <br /> (C) an irrevocable authorization and instruction to the Tender Agent to effect the exchange of the <br /> Variable Rate Bond to be purchased in whole or in part for other Variable Rate Bonds in an <br /> equal aggregate principal amount so as to facilitate the sale of such Variable Rate Bond (or <br /> portion thereof to be purchased), and (D) an acknowledgment that such Registered Owner will <br /> have no further rights with respect to such Variable Rate Bond (or portion thereof) upon deposit <br /> of an amount equal to the Purchase Price thereof with the Tender Agent on the Purchase Date, <br /> except for the right of such Registered Owner to receive such Purchase Price upon surrender of <br /> such Variable Rate Bond to the Tender Agent. <br /> -62- P\20287 CMVN20287 AMT 10/14/14 <br />
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