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Liquidity Facility Provider as soon as practicable and in any event not later than the next <br /> succeeding Business Day. <br /> Section 3.11. Insufficient Funds for the Payment of Purchase Price. <br /> (a) If the funds available for the purchase of Bonds subject to purchase on a Purchase <br /> Date are insufficient to purchase all of such Bonds (including Undelivered Bonds), then no <br /> purchase of any Bonds shall occur on such Purchase Date and, on such Purchase Date, the <br /> Tender Agent shall (1) return all of such Bonds that were tendered to the Registered Owners <br /> thereof, (2) return all moneys received by the Tender Agent for the purchase of such Bonds to <br /> the respective persons that provided such moneys (in the respective amounts in which such <br /> moneys were so provided), and (iii) notify the Bond Registrar of the foregoing. <br /> (b) If Bonds are not purchased when required pursuant to Section 3.08(a)(1), <br /> Section 3.08(a)(2), Section 3.10(a)(3), Section 3.10(a)(4), Section 3.10(a)(5), Section 3.10(a)(6), <br /> Section 3.10(a)(7), and Section 3.10(a)(8), such Bonds shall bear interest at the Alternate Rate <br /> from such Purchase Date until such date that all of such Bonds have been purchased. <br /> (c) If Variable Rate Bonds are not purchased on a City Elective Purchase Date, then <br /> such Variable Rate Bonds shall continue to bear interest at a Variable Rate determined as <br /> provided in Section 2.03, and if Index Floating Rate Bonds are not purchased on a City Elective <br /> Purchase Date, then such Index Floating Rate Bonds shall continue to bear interest at an Index <br /> Floating Rate for an Index Floating Rate Period determined as provided in Section 2.03. <br /> (d) If a Liquidity Facility is in effect, and the Liquidity Facility Provider thereof has <br /> failed to honor its payment obligations under the Liquidity Facility, twenty five percent (25%) of <br /> the Registered Owners of the Bonds (excluding Bonds owned by the City and Bank Bonds), shall <br /> have the right at any time, by an instrument or instruments in writing executed and delivered to <br /> -73- P\20287 CM1M20287 AMT 10/14/14 <br />