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(v) Upon delivery by the Depository to the Bond Registrar of written notice to the <br />effect that the Depository has determined to substitute a new Nominee in place of <br />the existing Nominee, and subject to the transfer provisions in paragraph 10, <br />references to the 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 with <br />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 <br />Bond Registrar or City, as the case may be, to the Depository as provided in the <br />Letter of Representations to the Depository required by the Depository as a <br />condition to its acting as book -entry Depository for the Bonds (said Letter of <br />Representations, together with any replacement thereof or amendment or <br />substitute thereto, including any standard procedures or policies referenced <br />therein or applicable thereto respecting the procedures and other matters relating <br />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 -entry <br />form shall be limited in principal amount to Authorized Denominations and shall <br />be effected by procedures by the Depository with the Participants for recording <br />and 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 Bond Registrar with respect to <br />any consent or other action to be taken by Holders, the Depository shall consider <br />the date of receipt of notice requesting such consent or other action as the record <br />date for such consent or other action; provided, that the City or the Bond Registrar <br />may establish a special record date for such consent or other action. The City or <br />the Bond Registrar shall, to the extent possible, give the Depository notice of such <br />special record date not less than fifteen calendar days in advance of such special <br />record date to the extent possible. <br />(ix) Any successor Bond Registrar in its written acceptance of its duties under this <br />Resolution and any paying agency/bond registrar agreement, shall agree to take <br />any actions necessary from time to time to comply with the requirements of the <br />Letter of Representations. <br />(x) In the case of a partial prepayment of a Bond, the Holder may, in lieu of <br />surrendering the Bonds for a Bond of a lesser denomination as provided in <br />paragraph S, make a notation of the reduction in principal amount on the panel <br />provided on the Bond stating the amount so redeemed. <br />(c) Termination of Book -Entry Only System. Discontinuance of a particular <br />Depository's services and termination of the book -entry only system may be effected as follows: <br />(i) The Depository may determine to discontinue providing its services with respect <br />to the Bonds at any time by giving written notice to the City and discharging its <br />2396921v1 4 <br />