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<br />Section 15. Book Entrv System. <br /> <br />15.01. The Bonds shall be initially issued and, so long as they <br />remain in book entry form only (the "Book Entry Only Period"), shall <br />at all times be in the form of a separate single fully registered <br />Bond for each maturity of the Bonds. The Depository Trust Company, <br />a limited purpose trust company organized under the laws of the State <br />of New York or any of its successors or successors to its functions <br />hereunder (the "Depository") will act as securities depository for <br />the Bonds. <br /> <br />15.02. Upon initial issuance, ownership of the Bonds shall be <br />registered in a bond register maintained by the Bond Registrar in the <br />name of CEDE & CO., as the nominee (it or any nominee of the existing <br />or a successor Depository, the "Nominee"). <br /> <br />15.03. With respect to the Bonds, neither the Issuer nor the <br />Bond Registrar shall have any responsibility or obligation to any <br />broker, dealer, bank, or any other financial institution for which <br />the Depository holds Bonds as securities depository (the <br />"Participant") or the person for which a Participant holds an <br />interest in the Bonds shown on the books and records of the <br />Participant (the "Beneficial Owner"). Without limiting the <br />immediately preceding sentence, neither the Issuer, nor the Bond <br />Registrar, shall have any such responsibility or obligation with <br />respect to (A) the accuracy of the records of the Depository, the <br />Nominee or any Participant with respect to any ownership interest in <br />the Bonds, or (B) the delivery to any Participant, any Owner or any <br />other person, other than the Depository, of any notice with respect <br />to the Bonds, including any notice of redemption, or (C) the payment <br />to any Participant, any Beneficial Owner or any other person, other <br />than the Depository, of any amount with respect to the principal of <br />or premium, if any, or interest on the Bonds, or (D) the consent <br />gi ven or other action taken by the Depository as the Registered <br />Holder of any Bonds (the "Holder"). For purposes of securing the <br />vote or consent of any Holder under this Resolution, the Issuer may, <br />however, rely upon an omnibus proxy under which the Depository <br />assigns its consenting or voting rights to certain Participants to <br />whose accounts the Bonds are credited on the record date identified <br />in a listing attached to the omnibus proxy. <br /> <br />15.04. The Issuer and the Bond Registrar may treat as and deem <br />the Depository to be the absolute owner of the Bonds for the purpose <br />of payment of the principal of and premium, if any, and interest on <br />the Bonds, for the purpose of giving notices of redemption and other <br />matters with respect to the Bonds, for the purpose of obtaining any <br />consent or other action to be taken by Holders for the purpose of <br />registering transfers with respect to such Bonds, and for all purpose <br />whatsoever. The Bond Registrar, as paying agent hereunder, shall pay <br />all principal of and premium, if any, and interest on the Bonds only <br /> <br />-7- <br />