Laserfiche WebLink
payment to any Participant, any Beneficial Owner or any other person, other than the <br />Depository, of any amount with respect to the principal of or premium, if any, or interest <br />on the Bonds, or (D) the consent given or other action taken by the Depository as the <br />Registered Holder of any Bonds (the "Holder"). For purposes of securing the vote or <br />consent of any Holder under this Resolution, the City may, however, rely upon an <br />omnibus proxy under which the Depository assigns its consenting or voting rights to <br />certain Participants to whose accounts the Bonds are credited on the record date <br />identified in a listing attached to the omnibus proxy. <br />(iv) The City and the Registrar may treat as and deem the Depository to be the <br />absolute owner of the Bonds for the purpose of payment of the principal of and premium, <br />if any, and interest on the Bonds, for the purpose of giving notices of redemption and <br />other matters with respect to the Bonds, for the purpose of obtaining any consent or other <br />action to be taken by Holders for the purpose of registering transfers with respect to such <br />Bonds, and for all purpose whatsoever. The Registrar, as paying agent hereunder, shall <br />pay all principal of and premium, if any, and interest on the Bonds only to or upon the <br />Holder of the Holders of the Bonds as shown on the register, and all such payments shall <br />be valid and effective to fully satisfy and discharge the City's obligations with respect to <br />the principal of and premium, if any, and interest on the Bonds to the extent of the sum or <br />sums so paid. <br />(v) Upon delivery by the Depository to the Registrar of written notice to the <br />effect that the Depository has determined to substitute a new Nominee in place of the <br />existing Nominee, and subject to the transfer provisions in paragraph 10, references to the <br />Nominee hereunder shall refer to such new Nominee. <br />(vi) So long as any Bond is registered in the name of a Nominee, all payments <br />with respect to the principal of and premium, if any, and interest on such Bond and all <br />notices with respect to such Bond shall be made and given, respectively, by the Registrar <br />or City, as the case may be, to the Depository as provided in the Letter of Representations <br />to the Depository required by the Depository as a condition to its acting as book -entry <br />Depository for the Bonds (said Letter of Representations, together with any replacement <br />thereof or amendment or substitute thereto, including any standard procedures or policies <br />referenced therein or applicable thereto respecting the procedures and other matters <br />relating to the Depository's role as book -entry Depository for the Bonds, collectively <br />hereinafter referred to as the "Letter of Representations"). <br />(vii) All transfers of beneficial ownership interests in each Bond issued in book - <br />entry form shall be limited in principal amount to Authorized Denominations and shall be <br />effected by procedures by the Depository with the Participants for recording and <br />transferring the ownership of beneficial interests in such Bonds. <br />(viii) In connection with any notice or other communication to be provided to the <br />Holders pursuant to this Resolution by the City or Registrar with respect to any consent <br />or other action to be taken by Holders, the Depository shall consider the date of receipt of <br />notice requesting such consent or other action as the record date for such consent or other <br />action; provided, that the City or the Registrar may establish a special record date for <br />4 <br />2582009v1 <br />