Laserfiche WebLink
(b) Registered Ownership. The County and the Bond Registrar may deem and treat <br />the Registered Owner of the Bond as the absolute owner for all purposes, and neither the County <br />nor the Bond Registrar shall be affected by any notice to the contrary. Payment of the Bond <br />shall be made only as described in Section 3 hereof, but such registration may be transferred as <br />herein provided. All such payments made as described in Section 3 shall be valid and shall <br />satisfy the liability of the County upon the Bond to the extent of the amount or amounts so paid. <br />(c) Transfer or Exchange of Registered Ownership. The Bond is transferable only in <br />whole (i) to a successor in interest (through merger, corporate reorganization or purchase of the <br />Bank) or (ii) to a "qualified institutional buyer" as such term is defined in Rule 144A of the <br />Securities Act of 1933, subject to such further limitations noted in the Bond and as referred to in <br />the Approved Bid and the documentation therein referred. <br />(d) Registration Covenant. The County covenants that, until the Bond has been <br />surrendered and canceled, it will maintain a system for recording the ownership of the Bond that <br />complies with the provisions of Section 149 of the Code. <br />(e) Place and Medium of Payment. Principal installments of the Bond shall be <br />payable in lawful money of the United States of America. Upon payment of the final installment <br />of principal of the Bond, the Bond shall be presented and surrendered by the Registered Owner <br />at the principal office of the Bond Registrar for cancellation. <br />Section 4. Prepayment. The Bond is not subject to prepayment prior to its scheduled <br />maturity. <br />-9- 502686980 v1 <br />