Agmt15 Raymond James and Assoc. Port of RWC sale of refunding bonds

Browse Search

Any such replacement Bonds issued pursuant to this Section 2_9 shall be entitled to equal und proportionate benefits with all other Bonds issued hereunder, and the Port and the Trustee shall not be required to treat both the original Bond and any repiacement Bond as being Outstanding For the purpose of determining the principal amount of Bonds wliich may be issued hereunder or for the purpose of determining any percents�ge o}'Bonds Outstanding hereundcr, but both the original and replacement IIond shall be treated as one and the samc. Section2.10. Temporary I3onds. Until definitive Bonds shall be prepared, the Port may cause to be executed and delivered in lieu of such definitive Bonds,and subject to the same provisions, limitations and conditions as are applicable in the case of definitive Bonds,except that they may be in any denominations authorized by the Port, one or more temporary typed, printed, lithographed or engraved Bonds in fully registered form,as may be suthorized by thc Port, substantialty of ihe same tenor and,until exchanged for definitive Bonds,entitled and subject to the same benefits and provisions hereof as definitive Lionds. If the Por1 issues temporary Bonds,it witl execute and furnish definitive Bonds without unnecessary delay and thereupon the temporary Bonds may be surrendered to the Trustee at the Corporate Trust Office,without expense to the Owner in exchange for such definitive Bonds. The costs of printing any definitive Bonds and any services rendered by the Trustee in connection with the authentieationand delivery thereof shaU be paid by the Port. All temporary Bonds so surrendered shall be cancelled by the Trustee and shall not be reissued. Section 2.I 1. Validitv of Bonds. The validity of the suthorizationand issuance of the Bonds shall not be aFfected in any way by any procetdings taken by the Port for the financing or refinancino of' the acquisition, construction, or improvement of any additions, betterments, extensions or improvementsto the Enterprise,or by any contracts made by the Port in connection therewith,and shall not be dependent upon the completion of the finaneing or refinancing of the acquisition,construction, or improvement of any additions,betterments,extensions or improvements to the Enterprise or upon the performance by any person oF his obligation with respect to the acquisition, construction, or improvement of any additions, betterments,extensions or improvements to the Enterprise, and the recitals contained in the Bonds that the sarne are issued pursuant to the Law or other applicable laws and pursuant hereto shall be conclusive evidence of'their validityand of the regularityof their issuance. Section 2.12. Book-Entrv System for Bonds. Prior to the issuance of any Series of the Bonds issued hereunder,the Port may provide that such Series of the Bonds shall be initially issued as Book- Entry Bonds,and in such event,each maturity of such Series of the Bonds shall be in the form of a separate single fully registered Bond (which may be typewritten), and upon initial issuance the ownership of each such Bond shall bc registered in the registration books maintained under Section 2.8 hercof in thc name of the Nominee,as nominee of the Depository. With respect to Book-Entry Bonds,the Port and the Trustee shs►II have no responsibility or obli�ation to any Participant or to any person on behalf of which a Participant holds an interest in such Book-Entry Bonds. Without limiting the immediately pn;ceding sentence, the Port and the Trustee shall have no responsibility or obligation with respect to (i)the accuracy of the records of the Depository, the Nominee or any Participant with respect to the owners of beneficial interests in Book-Entry Bonds, (ii)the delivery to any Participant or any other person, other than an Owner as shown in the registration books maintained under Section 2.8 hereof, of any notice with respect to Book-Entry Bonds, including any notice of redemption, (iii)the selection by the Depository and its Participants of the beneficial interests in Book-Entry Bonds to be redeemed in the event the Port 12094.91229�1.0005 24