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on the Bond register, and all such payments shall be valid and effective to fully satisfy and <br /> discharge the City's obligations with respect to the principal of and premium, if any, and interest <br /> on the Bonds to the extent of the sum or sums so paid. <br /> (e) Upon delivery by the Depository to the Registrar of written notice to the effect <br /> that the Depository has determined to substitute a new Nominee in place of the existing <br /> Nominee, and subject to the transfer provisions in Section 6 hereof, references to the Nominee <br /> hereunder shall refer to such new Nominee. <br /> (f) So long as any Bond is registered in the name of a Nominee, all payments with <br /> respect to the principal of and premium, if any, and interest on such Bond and all notices with <br /> respect to such Bond shall be made and given, respectively, by the Registrar or City, as the case <br /> may be, to the Depository as provided in the Letter of Representations to the Depository required <br /> by the Depository as a condition to its acting as book -entry Depository for the Bonds (said Letter <br /> of Representations, together with any replacement thereof or amendment or substitute thereto, <br /> including any standard procedures or policies referenced therein or applicable thereto respecting <br /> the procedures and other matters relating to the Depository's role as book -entry Depository for <br /> the Bonds, collectively hereinafter referred to as the "Letter of Representations "). <br /> (g) All transfers of beneficial ownership interests in each Bond issued in book -entry <br /> form shall be limited in principal amount to Authorized Denominations and shall be effected by <br /> procedures by the Depository with the Participants for recording and transferring the ownership <br /> of beneficial interests in such Bonds. <br /> (h) In connection with any notice or other communication to be provided to the <br /> Holders pursuant to this Resolution by the City or the Registrar with respect to any consent or <br /> other action to be taken by Holders, the Depository shall consider the date of receipt of notice <br /> requesting such consent or other action as the record date for such consent or other action; <br /> provided, that the City or the Registrar may establish a special record date for such consent or <br /> other action. The City or the Registrar shall, to the extent possible, give the Depository notice of <br /> special record date not less than 25 calendar days in advance of such special record date to the <br /> extent possible. <br /> (i) Any successor Registrar in its written acceptance of its duties under this <br /> Resolution and any paying agencylbond registrar agreement, shall agree to take any actions <br /> necessary from time to time to comply with the requirements of the Letter of Representations. <br /> 0) In the case of a partial prepayment of a Bond, the Holder may, in lieu of <br /> surrendering the Bond for a Bond of a lesser denomination as provided in Section 6 hereof, make <br /> a notation of the reduction in principal amount on the panel provided on the Bond stating the <br /> amount so redeemed. <br /> Section 3. Termination of Book -Entry Only System Discontinuance of a particular <br /> Depository's services and termination of the book -entry only system may be effected as follows: <br /> 4 <br />