Upon surrender for registration. of transfer of any Bond at the office or agency of the Issuer to be maintained as provided in Section 3.02, provided that the requirements of Section 8-401 of the Delaware UCC are met, a Manager on behalf of the Issuer shall execute, and the Trustee shall authenticate and the Bondholder shall obtain from the Trustee, in the name of the designated transferee or transferees, one or more new Bonds in any Authorized Denominations, of a like Tranche and aggregate initial principal amount. The Trustee may rely upon the Administrator with respect to the determination of whether the requirements of Section 8-401 of the Delaware UCC are met.
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