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Escrow Instructions
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Escrow Instructions
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as Schedule C. The Escrow Agent shall also mail a notice of redemption of the 2003 Bonds in <br /> accordance with the provisions of the Prior Indenture,in the form attached hereto as Schedule D. <br /> II. Irrevocability. <br /> These Instructions shall be irrevocable and may not be amended or modified <br /> unless for the purpose of(A) curing any ambiguity or omission relating to these Instructions or of <br /> curing, correcting or supplementing any defective provision contained herein; (B) adding to or <br /> supplementing the rights of the owners of the 2003 Bonds; or (C) severing any portion of these <br /> Instructions deemed to be illegal and the Escrow Agent first shall have received: (i) an opinion <br /> from nationally recognized bond counsel to the effect that such amendment or modification is in <br /> compliance with the requirements of this Section II and would not, in and of itself, (a) cause the <br /> 2003 Bonds or the interest component of the portion of the Lease Payments to become arbitrage <br /> bonds within the meaning of Section 148 of the Code and the regulations thereunder in effect at <br /> the time of such proposed amendment or modification or (b) adversely affect the conclusions <br /> expressed in the Defeasance Opinion. <br /> Except as otherwise provided herein, the owners of the 2003 Bonds shall have an <br /> express lien on all funds and amounts on deposit in the Escrow Fund with the Escrow Agent in <br /> accordance with these Instructions until used and applied in accordance herewith. <br /> III. Liability. <br /> The liability of the Escrow Agent and the Prior Trustee for the payment of moneys <br /> as hereinabove set forth respecting the payment of the debt service on, and the redemption of, the <br /> 2003 Bonds shall be limited solely to the moneys on deposit with the Escrow Agent in the <br /> Escrow Fund pursuant to these Instructions and available for such purposes. No provision of <br /> these Instructions shall require the Escrow Agent to expend or risk its own funds or otherwise <br /> incur any financial liability in the performance or exercise of any of its duties hereunder, or in the <br /> exercise of its rights or powers. <br /> Neither the Escrow Agent nor any of its officers, directors, employees or agents <br /> shall be liable for any action taken or omitted under these Instructions or in connection herewith <br /> except to the extent caused by the Escrow Agent's negligence or willful misconduct, as <br /> determined by the final judgment of a court of competent jurisdiction,no longer subject to appeal <br /> or review. Anything in these Instructions to the contrary notwithstanding, in no event shall the <br /> Escrow Agent be liable for special, indirect,punitive or consequential loss or damage of any kind <br /> whatsoever(including but not limited to lost profits), even if the Escrow Agent has been advised <br /> of the likelihood of such loss or damage and regardless of the form of action. <br /> The Escrow Agent agrees to accept and act upon instructions or directions pursuant to <br /> these Instructions sent by unsecured e-mail, facsimile transmission or other similar unsecured <br /> electronic methods, provided, however, that, the Escrow Agent shall have received an <br /> incumbency certificate listing persons designated to give such instructions or directions and <br /> containing specimen signatures of such designated persons, which such incumbency certificate <br /> shall be amended and replaced whenever a person is to be added or deleted from the listing. If <br /> -3- <br /> 340122_2.DOC <br />
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