Laserfiche WebLink
securities depository in connection with the AIRS and which is appointed by the Authority with the consent of <br /> the Auction Agent and the Market Agent, which consent shall not be unreasonably withheld. <br /> "Securities Exchange Act" shall mean the Securities Exchange act of 1934, as amended. <br /> "Separated" shall mean Newly Fixed AIRS or Regular Fixed AIRS, the beneficial ownership of which <br /> has been separated into equal aggregate principal amounts of ARS and IRS, and recorded as such as Regular <br /> ARS and Regular IRS under the Applicable CUSIP Numbers at the Securities Depository. <br /> "Service Charge" shall mean the dollar amount, if any, payable to the Auction Agent and any Broker- <br /> Dealer on an Interest Payment Date, as calculated pursuant to "THE BONDS -- Auction and Inverse <br /> Securities --Interest -- Service Charge" <br /> "State" shall mean the State of California. <br /> "Substitute Auction Agent" shall mean the person with whom the Trustee enters into a Substitute <br /> Auction Agent Agreement. <br /> "Substitute Auction Agent Agreement" shall mean an auction agent agreement containing terms <br /> substantially similar to the terms of the Initial Auction Agent Agreement, whereby a person having the <br /> qualifications required by the Indenture agrees with the Trustee to perform the duties of the Auction Agent set <br /> forth therein. <br /> "Substitute Market Agent" shall mean the person with whom the Trustee enters into a Substitute Market <br /> Agent Agreement. <br /> "Substitute Market Agent Agreement" shall mean a market agent agreement containing terms <br /> substantially similar to the terms of the Initial Market Agent Agreement, whereby a person having the <br /> qualifications required by the Indenture agrees with the Trustee to perform the duties of the Market Agent set <br /> forth therein. <br /> FIXING AND SEPARATING AIRS <br /> Fixing ARS and IRS <br /> A Beneficial Owner of Regular ARS and Regular IRS may cause such ARS and IRS to be combined, <br /> or "Fixed", in accordance with the procedure set forth below. When ARS and IRS have been Fixed, they may <br /> be traded as a unit, until Separated as described below under "Separating ARS and IRS". ARS and IRS that <br /> have been Fixed as described below are referred to as "Newly Fixed AIRS"; on and after the next succeeding <br /> Interest Payment Date, such Newly Fixed AIRS shall automatically become "Regular Fixed AIRS". During the <br /> Interest Period in which the Newly Fixed AIRS were Fixed, the Service Charge payable with respect to <br /> the ARS which were Fixed will continue to accrue for the remainder of such Interest Period. <br /> So long as ownership of the ARS and IRS is maintained in book-entry form by the Securities <br /> Depository, if, on any Business Day, other than during a Closed Period, the Auction Agent shall receive a <br /> Request to Fix from a Broker-Dealer on behalf of a Beneficial Owner in accordance with the Broker-Dealer <br /> Agreement, which requests that specified equal principal amounts of Regular ARS and Regular IRS, which in <br /> each case shall have the same maturity date, be Fixed in the account of the Participant of such Beneficial Owner <br /> at the Securities Depository designated in such request, then the Auction Agent shall promptly deliver <br /> appropriate instructions to the Securities Depository to debit such aggregate principal amount of Regular ARS <br /> G-5 <br />