Note Book: R.C - Laserfiche WebLink

Home Browse Search

~1 Unless and until the certificate of authenticatiori thereon shall have been dul executed by the 2 Trustee, no Certificate shall be valid or obligatory for any purpose or entitled to an right or benefit 3 under the Agreement. Execution of the certificate of authentication on a Certificate~ by an autharized 4 signatory of the Trustee shall be conclusive evidence that such Certificate has been uthenticated and 5 delivered under the Agreement. It shall not be necessary that the same authorize signatory of the 6 Trustee execute the certificate of authentication on each of the Certificates n order for the 7 Certificates to be valid. I 8 9 (I) TEMPORARY CERTIFICATES. Until definitive Certificates are ready f r delivery, there 1 o may be executed and delivered to the purchasers thereof, in lieu of definitive Certif cates and subj ect 11 to the same limitations and conditions, one or more interim receipts or certificates i fully registered 12 form, in denominations totaling the aggregate principal amount of the Certificates, aturing, bearing 13 interest and in substantially the same tenor as otherwise herein authorized for the Certificates, and 14 with such appropriate omissions, insertions and variations as may be required. If i terim receipts or 15 certificates are issued, the County shall cause the definitive Certificates to be pr pared and to be 16 executed as aforesaid. Upon presentation to the Trustee of the interim receipts o certificates, the 17 Trustee shall cancel the interim receipts or certificates and authenticate and deli er to the holders 18 thereof definitive Certificates of an equal aggregate priricipal amount, be ing appropriate 19 characteristics as herein authorized and as sold to the purchasers thereof. Until s exchanged, the 20 interim receipts or certificates shall in all respects be entitled to the same benefit a d security as the 21 definitive Certificates. Interest on the interim receipts or certificates issued in full registered form, 22 when due and payable, if the definitive Certificates are not ready for exchange, shal be paid by check ~; and mailed to the holders thereof. 24 ~ 25 (J) RESERVATION OF RIGHT TO PURCHASE ON OPEN MARKET. Notwith anding anything 26 expressed or implied herein to the contrary, the County shall have the right to p chase from time 27 to time any Certificates on the open market for the purpose of surrendering such ertificates to the 28 Trustee for cancellation, which purchases may be made out of any funds of t e County made 29 available by it for such purpose. I 30 31 (K) PERSONS TREATED AS OWNERS. The person in whose name any C ~rtificate shall be 32 registered shall be deemed and regarded as the absolute Owner thereof for all purp ses, and payment 33 of either principal or interest on any Certificate shall be made only to or upon o er of the Owner 34 thereof or such Owner's legal representative. All such payments shall be valid and ffectual to satisfy 35 and discharge the liability upon such Certificate to the extent of the sum or su s so paid. The 36 County, the Trustee and the County may deem and treat the person in whose na e any Certificate 37 shall be registered as the absolute Owner of such Certificate whether such C rtificate shall be 38 overdue or not, for the purpose of receiving payment thereof and for all other pu oses whatsoever, 39 and neither the County, the Trustee nor the County shall be affected by any noti e to the contrary. 40 , I III ~ FINANCING AND TRUST AGREEMENT ~, i ii, ~ II PAGE 14