Agenda - 11-16-1993 - VIII-A (2)

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35 • Section 2.08. Registration of Bonds; Persons Treated as Owners; Transfer of Bonds. Books for the registration of Bonds shall be kept by the Paying Agent which is hereby appointed the registrar. On surrender for registration of transfer of a Bond at the principal corporate trust office of the Paying Agent, duly endorsed for transfer or accompanied by an assignment duly executed by the Owner or its attorney duly authorized in writing, the Paying Agent shall authenticate and deliver in the name of the transferee or transferees a new fully registered Bond or Bonds of the same series. All Bonds shall be exchangeable on the presentation and surrender thereof at the principal corporate trust office of the Paying Agent for a Bond or Bonds in other Authorized Denominations of the same series. As to any Bond, the person in whose name the same is registered shall be deemed and regarding as the absolute owner thereof for all purposes, and payment of either principal or interest on such Bond shall be made only to or on the written order of the Owner thereof or its legal representative, but such registration may be changed as hereinabove provided. All such payments shall be valid and effectual to satisfy and discharge such Bond to the extent of the sum or sums paid. The Paying Agent shall require the payment, by any Owner requesting registration of transfer or exchange of Bonds, of any tax, fee or other governmental charge required to be paid with respect to such registration of transfer or exchange. The Paying Agent is not required to register.the transfer of or exchange any Bonds selected, called or being called for redemption in whole or in part. Section 2.09. Cancellation of Bonds. Whenever any outstanding Bonds are delivered to the Paying Agent for cancellation pursuant to this Indenture, on payment thereof or for or after replacement pursuant to Section 2.07, such Bonds shall be promptly cancelled and burned or otherwise destroyed by the Paying Agent, and counterparts of a certificate of destruction evidencing such burning or other destruction shall be furnished by the Paying Agent to the Corporation. Section 2.10. Temporary Bonds. Pending preparation of definitive Bonds, there may be executed, and on request of the Corporation, the Paying Agent shall deliver, in lieu of definitive Bonds and subject to the same limitations and conditions as such definitive Bonds, temporary typewritten, printed, engraved or lithographed Bonds, in the form of registered Bonds without coupons in Authorized Denominations, substantially in the form of Exhibit A and Exhibit B hereto, with such appropriate omissions, insertions and variations as may be required with respect to such temporary Bonds. If temporary Bonds are executed and delivered, the Corporation shall cause the definitive Bonds to be prepared and to be executed and delivered, and the Paying Agent, on presentation to it at its principal corporate trust office of any temporary Bonds, shall cancel such Bonds and authenticate and deliver in exchange therefor at the place designated by the owner, without charge to the owner thereof, a definitive Bond or Bonds of an equal aggregate principal amount. Until so exchanged, the temporary Bonds shall in all respects be entitled to the same benefit and security of this Indenture as the definitive Bonds to be issued and authenticated hereunder. Section 2.11. Additional Bonds. If at any time the Corporation determines it desires to do so, the Corporation may provide for the issuance of, and sale, a Series of Additional Bonds in such principal amounts as it estimates will be needed for the purpose of(i)paying all or any portion of the Cost of Improvements or(ii) refunding any or all of the Bonds outstanding. The issuance and sale of any series of Additional Bonds shall be subject to the following conditions precedent: • (a) The Corporation is in compliance with all covenants in this Indenture; 13 4