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and the successor Trustee shall become such Trustee, Registrar and • Paying Agent unless a separate Paying Agent or Agents are appointed by the Authority in connection with the appointment of any successor Trustee. Section 1016. Designation and Succession of Paying Agents; Appointment and Acceptance of Duties; Removal. (a) Subject to Section 1017 hereof, the Trustee is hereby designated and. agrees to act as principal-Paying Agent and as Registrar for and in respect of the Bonds. (b) The Authority may appoint one or more additional Paying Agents for the Bonds. Any such Paying Agent shall be a commercial bank with trust powers or trust company organized under the laws of the United States of America or one of the states thereof. Each Paying Agent other than the Trustee shall signify its acceptance of the duties and obligations imposed upon it by the Indenture by executing and delivering to the Authority and the Trustee a written acceptance thereof. The Authority may remove any Paying Agent other than the Trustee and any successors thereto, and appoint a successor or successors thereto; provided that any such Paying Agent designated by the Authority shall continue to be a Paying Agent of the Authority for the purpose of paying the principal of, premium, if any, and interest on the Bonds until the designation of a successor as such Paying Agent. Each Paying Agent is hereby authorized to pay or redeem Bonds when duly presented to • it for payment or redemption, which Bonds shall thereafter be delivered to the Trustee for cancellation. (c) The Paying Agents shall enjoy the same protective provisions in the performance of their duties hereunder as are specified in Section 1001 hereof with respect to the Trustee insofar as such provisions may be applicable. Section 1017. Tender Agent. The Trustee may, at all times on or before the final Conversion Date applicable to all of the Bonds, appoint a Tender Agent with the power to act, on or prior to such Conversion Date, on the Trustee's behalf and subject to its direction in the authentication and delivery of the Bonds and in connection with registration of transfers and exchanges, tenders, redemptions, notices and purchases thereof and payments thereon, as fully to all intents and purposes as though the Tender Agent had been expressly authorized hereunder to authenticate, deliver, pay, transfer and exchange Bonds; receive notices pursuant to Section 501, purchase tendered Bonds and make payments on the Bonds. The Trustee and the Tender Agent may enter into an agreement whereby the Tender Agent agrees to calculate the interest to be paid on each Interest Payment Date, and will relay such information to the Trustee for its confirmation. In the absence of such an agreement, the Trustee shall calculate such interest. For all purposes, any such Tender Agent shall be deemed to be acting solely as the Agent of the Trustee and the authentication, • 95