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<br />less than $50,000,000. The Trustee accepts and agrees to observe and perform the duties and
<br />obligations of the Trustee to which reference is made in any instrument or document providing
<br />security for any of the Bonds. On or before January 31 of each year, the Trustee shall provide a
<br />written notice to the Issuer specifying the principal amount of Bonds outstanding as of the
<br />preceding December 31.
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<br />Section 6.13. Concerning the Remarketing Agent.During the BSBY Rate Mode, there is
<br />no requirement for the services of a Remarketing Agent hereunder. The Borrower shall appoint
<br />one or more Remarketing Agents for the Bonds at least seven days prior to the end of a BSBY
<br />Rate Period. Any Remarketing Agent shall be appointed by either the Issuer or the Borrower, with
<br />the approval of the Initial BSBY Rate Bond Purchaser, if any, the Bank, if any, and the Confirming
<br />Bank, if any, (which consent will not be unreasonably withheld), and shall meet the qualifications
<br />set forth in this Section and Section 6.14 hereof. The Remarketing Agent shall designate to the
<br />Trustee its principal office and signify its acceptance of the duties and obligations imposed upon
<br />it hereunder by a written instrument of acceptance delivered to the Issuer, the Bank, the Confirming
<br />Bank, if any, the Borrower and the Trustee. In addition, the Remarketing Agent will agree
<br />particularly to:
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<br />(a) compute the Weekly Interest Rate and the Fixed Interest Rate, as
<br />applicable, and give notices of such computations to the Trustee on each applicable Interest
<br />Rate Determination Date, all in accordance with this Indenture; and
<br />(b) keep such records relating to its computations of interest rates for the
<br />Project Bonds as shall be consistent with prudent industry practice and to make such
<br />records available for inspection by the Issuer, the Trustee, the Bank, the Confirming Bank,
<br />if any, and the Borrower at all reasonable times.
<br />The Remarketing Agent shall be entitled to advice of legal counsel on any matter relating
<br />to the Remarketing Agent’s obligations hereunder and shall be entitled to act upon the opinion of
<br />such counsel in the exercise of reasonable care in fulfilling such obligations.
<br />The Remarketing Agent shall be entitled to appoint additional co-Remarketing Agents to
<br />assist in the performance of the Remarketing Agent’s obligations under this Indenture, and any
<br />such appointment shall be effective without any action by the Issuer, the Borrower, the Bank or
<br />the Confirming Bank, if any, being necessary; provided, that, any such co-Remarketing Agent,
<br />shall have a capitalization of at least $10,000,000, or shall have a line of credit with a commercial
<br />bank in the amount of at least $10,000,000, shall be in conformity with all standards and
<br />requirements of the Municipal Securities Rulemaking Board and the Securities and Exchange
<br />Commission, and shall be authorized by law to perform all the duties imposed upon it by this
<br />Indenture.
<br />Section 6.14. Qualifications of Remarketing Agent.The Remarketing Agent shall have a
<br />capitalization of at least $10,000,000 or have a line of credit with a commercial bank in the amount
<br />of at least $10,000,000 and shall be authorized by law to perform all the duties imposed upon it by
<br />this Indenture. The Remarketing Agent may at any time resign and be discharged of the duties
<br />and obligations created by this Indenture by giving at least thirty (30) days’ notice of such
<br />resignation to the Issuer, the Borrower, the Bank, the Confirming Bank, if any, and the Trustee.
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