Ordinance 3405-14 - Laserfiche WebLink

The determination of the Tender Agent and the Remarketing Agent as to whether a notice of tender has been properly delivered pursuant to the foregoing shall be conclusive and binding upon the Registered Owner. The Tender Agent or the Remarketing Agent may waive any irregularity or nonconformity in any notice of tender. (c) The right of Registered Owners to tender Variable Rate Bonds for purchase pursuant to this Section shall terminate upon a Conversion Date with respect to such Variable Rate Bonds to an Interest Rate Mode that is not a Variable Rate Period. (d) Notwithstanding anything to the contrary herein, all Variable Rate Bonds as to which Electronic Notice or written notice specifying the Purchase Date has been delivered pursuant to this Section 3.08 (and which have not been tendered to the Tender Agent) shall be deemed tendered on the Purchase Date specified. From and after the specified Purchase Date of a Bond or Bonds tendered to the Tender Agent or deemed tendered pursuant to this Section 3.08, the former Registered Owner of such Bond or Bonds shall be entitled solely to the payment of the Purchase Price of such Bond or Bonds tendered or deemed tendered which Purchase Price shall be payable only as set forth in Section 3.09(d). (e) The Tender Agent shall promptly return any notice of tender delivered pursuant to Section 3.08(b) (together with the Bonds submitted therewith) that is incomplete or improperly completed or not delivered within the times required by Section 3.08(b) to the Person or Persons submitting such notice and Bonds upon surrender of the receipt, if any, issued therefor. Section 3.09. Purchase of Bonds by Tender Agent. (a) If the Bonds are in the Variable Rate Period, the Tender Agent shall establish a special trust fund to be designated the Purchase Fund; and, within the Purchase Fund, the Tender Agent shall establish four separate accounts to be designated the Remarketing Account, the -63- P\20287 CMVV\20287 AMT 10/14/14