Common use of TRUSTEE AND REMARKETING AGENT Clause in Contracts

TRUSTEE AND REMARKETING AGENT. Appoint a Trustee and a Remarketing Agent with respect to the Bonds pursuant to the Master Indenture and the First Supplemental Indenture; and if the Remarketing Agent fails to remarket any tendered Bonds for sixty (60) consecutive days (and so long as such failure is not due to an allowable event under the then effective Remarketing Agreement), then the District agrees, at the written request of the Bank, to cause the Remarketing Agent to be replaced with a Remarketing Agent reasonably satisfactory to the Bank. Any remarketing agreement with a successor Remarketing Agent shall provide that (a) such remarketing agent may resign upon not less than thirty (30) days prior written notice to the Trustee, the Bank and the District, and (b) such remarketing agent shall use its best efforts to remarket the Bonds without regard to the Liquidity Rate (i.e., whether or not the rate to be borne by the Bonds is less than the Liquidity Rate).

TRUSTEE AND REMARKETING AGENT. Appoint a Trustee and a Remarketing Agent with respect to the Bonds pursuant to the Master Indenture and the First Second Supplemental Indenture; and if the Remarketing Agent fails to remarket any tendered Bonds for sixty (60) consecutive days (and so long as such failure is not due to an allowable event under the then effective Remarketing Agreement), then the District agrees, at the written request of the Bank, to cause the Remarketing Agent to be replaced with a Remarketing Agent reasonably satisfactory to the Bank. Any remarketing agreement with a successor Remarketing Agent shall provide that (a) such remarketing agent may resign upon not less than thirty (30) days prior written notice to the Trustee, the Bank and the District, and (b) such remarketing agent shall use its best efforts to remarket the Bonds without regard to the Liquidity Rate (i.e., whether or not the rate to be borne by the Bonds is less than the Liquidity Rate).