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Section 413. Set-Asides Pursuant to Pledge Resolution. (a) In accordance with the Pledge Resolution, the Authority, at the direction of the Commission, may instruct the Trustee to set aside from the Capitalized Interest Account of the Sinking Fund, the Reserve Fund and the Operation and Reserve Fund an amount (a "segregated amount") that, when combined with other available funds of the Commission, enables the Commission to satisfy the Three Payment Test (as defined in the Pledge Resolution). The segregated amount shall be held in trust solely for purposes of ensuring the availability of funds to satisfy the Three Payment Test. (b) If the Authority, at the direction of the Commission, so directs, the Trustee shall transfer all or a portion of such segregated amount to the Sinking Fund, on the due date of a lease payment under the Lease, in the event that the Authority, at the direction of the Commission, determines to have part or all of such Lease payment otherwise due credited from such segregated amount as provided in the Lease; provided, however, that if and to the extent the Commission determines that such credit shall not be applied to a Lease payment for which funds have been so segregated as provided above, but instead pays such amount on the Lease payment date, then an equal amount shall be released immediately from such segregation and shall no longer constitute a segregated • amount. ARTICLE V PURCHASE OF BONDS; REDEMPTION OF BONDS Section 501. Purchase on Demand of Owner While Bonds Bear Weekly Rate. While any Bond bears interest at a Weekly Rate, any such Bond or portion thereof in an Authorized Denomination (other than a Pledged Bond) shall be purchased on a Demand Date therefor upon the demand of the owner thereof, at a purchase price equal to 100% of the principal amount thereof plus accrued interest, if any, to such Demand-Date, upon irrevocable written notice (which may be given by telecopy) to the Tender Agent at its Principal Office, which notice must be received by the Tender Agent not later than 11:00 a.m., New York City time, in order to be effective on that day and which notice must specify (i) the principal amount and number of such Bond, the name and the address of such owner and the taxpayer identification number, if any, of such owner and (ii) the Demand Date on which such Bond is to be purchased. The determination of the Tender Agent as to whether a notice of tender has been properly delivered pursuant to the foregoing shall be conclusive and binding upon the owner of such Bond. Any notice received by the Tender Agent pursuant to this Section 501 from any Person reasonably believed by the Tender Agent • 42