Common use of Remarketing Agent Clause in Contracts

Remarketing Agent. (a) Shall cause the Remarketing Agent to use its best efforts to remarket all Bonds up to the Tax-Exempt Maximum Rate (as defined in Appendix A to the Ordinance) that are tendered for purchase and shall not direct the Remarketing Agent to cease its attempts to remarket Bonds tendered for purchase for any reason (including without limitation that any interest rate charged hereunder may be less than the interest rate that would be required to be paid to any potential purchaser of such Bonds in order that the Bonds may be sold at a purchase price equal to the par value thereof plus accrued interest thereon). (b) If the Remarketing Agent fails to remarket Bonds for thirty (30) consecutive days or otherwise fails to perform its duties under the Remarketing Agreement, the City shall replace the Remarketing Agent upon the written direction of the Bank, with a successor Remarketing Agent acceptable to the Bank. (c) Any remarketing agreement entered into by the City after the Closing Date and in relation to the Bonds shall provide that the remarketing agent will resign only upon providing sixty

Remarketing Agent. (a) Shall cause the Remarketing Agent to use its best efforts to remarket all Bonds up to the Tax-Tax Exempt Maximum Rate (as defined in Appendix A to the Ordinance) that are tendered for purchase and shall not direct the Remarketing Agent to cease its attempts to remarket Bonds tendered for purchase for any reason (including without limitation that any interest rate charged hereunder may be less than the interest rate that would be required to be paid to any potential purchaser of such Bonds in order that the Bonds may be sold at a purchase price equal to the par value thereof plus accrued interest thereon). (b) If the Remarketing Agent fails to remarket Bonds for thirty (30) consecutive days or otherwise fails to perform its duties under the Remarketing Agreement, the City shall replace the Remarketing Agent upon the written direction of the Bank, with a successor Remarketing Agent acceptable to the Bank. (c) Any remarketing agreement entered into by the City after the Closing Date and in relation to the Bonds shall provide that the remarketing agent will resign only upon providing sixty