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redeems any Qook-Entry Bonds in part or(iv)the puyment of any Participant or any other person, <br /> other than an Owner as shown in the registration books maintained under Section 2.B hereof, of any <br /> amount with respect to the interest on or principal of or redemption premiums, if any,on Book-Entry <br /> Bonds. The Port and the Trustee may treat and consider the person in whose narne each Book-Entry <br /> Bond is registered in the registration books maintained under Section 2.8 hereof as the absolute <br /> Owner of such Book-Entry Bond for Ihe purpose of payment of the interest on and the principal of <br /> and the redemption premium, if any, with respect to such Book-Entry Bond, for the purpose of <br /> giving notices of redemption and other matters with respect to such Book-Entry Bond, for thc <br /> p�rpose of registerin� transfers with respect to such Bovk-Entry Bond and for all other purposes <br /> whatsoever. The Trustee shall pay the interest on and the principal of and the rcdemgtion premiums, <br /> if any.on the Book-Entry Bonds only to or upon the order of the respective Owners�as shown in the <br /> registration books maintained under Section 2.8 hereof, and all such payments shall be valid and <br /> eff'ective to fully satisfy and discharge the Port's obligations with respect to paymcnt of the interest <br /> on and the principal of and the redemption premiums, if any,on the Book-Entry Bonds to the extent <br /> of the sum or sums so paid. No person other than an Owner, as shown in the registration books <br /> maintained under Section 2.8 hereof, shall receive a Bond evidencin� the obli�ation of the Port to <br /> make payments of the interest on and principal of and redemption premium, if any, on any Book- <br /> Entry Bond pursuant hereto. Upan delivcry by the Depository to the Owner,the Trustee and thc Port <br /> of written notiee to the effect that the Depository has determined to substitute a new nominee in <br /> place of the Nominee. and subject to the provisions herein with respect to record dates, the term <br /> Nominee hercin shall refer to such new nominee of the Depository. <br /> In order to qualify the Book-Entry Bonds for the Depository's book-eniry system, the Port <br /> shall execute and deliver to the Depository o Letter of Representations with respect to such Bonds; <br /> provided, that the execution and delivery of a Letter of Representations shall not in any way impose <br /> upon tbe Port or the Trustee uny obli�ation whatsoever with respect to persons havin� beneficial <br /> interests in such Book-�ntry Bonds other than the Owners, as shown in the registration books <br /> maintained under Section 2.8 hereof. In addition to the execution and delivery of a Letter of <br /> Representations, the Port shall take such other actions, not inconsistent herewith,as are reasonably <br /> necessary to qualify Book-Entry Bonds for the Depository's book-entry program. <br /> In the event(i)the Depository determines not to continue to act as securities depository for <br /> any Book-Entry Bonds or(ii)the Depository shall no longer so act and gives written notice to tho <br /> Trustec of such determination, then the Port will discontinue the book-entry system for such Bonds <br /> with the Depository. If the Port determines to replace the Depository with another qualifted <br /> securities depository, the Port shall prepare or direct the preparation of a new single,separate, fully <br /> rcgistered Bond for each ot the maturities of such Book-Entry Bonds,registered in the name of such <br /> successor or substitute qualified securities depository or its nominee;provided, that if the Port fails <br /> to identify another qualitied securities depository to replace the Depository,then the Bonds shall no <br /> longer be restricted to being registered in the rcgistration books maintained under Section 2.8 hereaf <br /> in the name of the Nominee,but shall be re�istered in whatever name or names Owners transferring <br /> or exchanging such Bonds shatl designate, in eccordance with provisions of Sections 2,6 and 2.7 <br /> hereof. <br /> Notwithstanding any other provision hereof to the contrary,so long as any Book-F.ntry Bond <br /> is registered in the name of the Nominee, all payments with respect to the interest on and the <br /> principal of and the redemption premium, if any, on such Bond and all notices with respect to such <br /> 120919�22931.0005 ZS <br />