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This excerpt taken from the BWP 8-K filed Dec 9, 2008. Execution. All the
Bonds shall, from time to time, be executed on behalf of the Issuer by, or bear
the manual or facsimile signature of, its Executive Director and its corporate
seal (which may be in facsimile) shall be thereunto affixed (or imprinted or
engraved if facsimile) and attested by the manual or facsimile signature of the
Secretary.
If any of
the officers who shall have signed or sealed any of the Bonds or whose facsimile
signature shall be upon the Bonds shall cease to be such officer of the Issuer
before the Bonds so signed and sealed shall have been actually authenticated by
the Trustee or delivered by the Issuer, such Bonds nevertheless may be
authenticated, issued and delivered with the same force and effect as though the
person or persons who signed or sealed such Bonds or whose facsimile signature
shall be upon the Bonds had not ceased to be such officers of the Issuer; and
also any such Bond may be signed and sealed on behalf of the Issuer by those
persons who, at the actual date of the execution of such Bonds, shall be the
proper officers of the Issuer, although at the date of such Bond any such person
shall not have been such officer of the Issuer.
10
Section
2.9. Negotiability,
Transfer and Registry.
(a) The Bonds
may be transferred and title thereto shall pass, only in the manner provided in
the Provisions for Registration set forth in the form of the Bond in Section
15.1 of this Indenture. The Issuer hereby designates the Trustee as
initial Bond registrar to keep the books for the registration and for the
transfer of Bonds as provided in this Indenture. All Bonds presented
for transfer, exchange, redemption or payment (if so required by the Issuer or
the Trustee), shall be accompanied by a written instrument or instruments of
transfer or authorization for exchange, in form and with guaranty of signature
satisfactory to the Trustee, duly executed by the Registered Owner(s) or by his
attorney duly authorized in writing. No charge shall be made to
Registered Owners for the transfer and registration of the Bonds except for a
sum sufficient to pay any tax, fee or governmental charge that may be imposed
with respect thereto.
(b) The
Issuer, the Trustee and any Paying Agent may deem and treat the Registered
Owner(s) of any registered Bonds as the absolute owner of such Bond for the
purpose of receiving any payment on such Bond and for all other purposes of this
Indenture and the Loan Agreement, whether such Bond shall be overdue or not, and
neither the Issuer, nor the Trustee nor any Paying Agent shall be affected by
any notice to the contrary. Payment of, or on account of, the
principal of and interest and redemption premium, if any, on any registered Bond
shall be made to such Registered Owner(s) or upon his written
order. All such payments shall be valid and effectual to satisfy and
discharge the liability upon such Bond to the extent of the sum or sums so
paid.
(c) All Bonds
issued under this Indenture, shall have such attributes of negotiability as are
provided for under the laws of the State.
Section
2.10. |
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