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<br />such other method of transferring funds as may be requested by <br />the Holder of a Global certificate. <br /> <br />6. Immobilization of Global certificates bv the <br />Depository: Successor DeDository: ReDlacement Bonds. Pursuant to <br />the request of the Purchaser to the Depository, which request is <br />required by the Official Notice of Sale, immediately upon the <br />original delivery of the Bonds the Purchaser will deposit the <br />Global certificates representing all of the Bonds with the <br />Depository. The Global certificates shall be in typewritten form <br />or otherwise as acceptable to the Depository, shall be registered <br />in the name of the Depository or its nominee and shall be held <br />immobilized from circulation at the offices of the Depository on <br />behalf of the Purchaser and subsequent bondowners. The <br />Depository or its nominee will be the sole holder of record of <br />the Global certificates and no investor or other party <br />purchasing, selling or otherwise transferring ownership of <br />interests in any Bond is to receive, hold or deliver any bond <br />certificates so long as the Depository holds the Global <br />certificates immobilized from circulation, except as provided <br />below in this paragraph and in paragraph 12. <br /> <br />Certificates evidencing the Bonds may not after their <br />original delivery be transferred or exchanged except: <br /> <br />(i) Upon registration of transfer of ownership of a <br />Global certificate, as provided in paragraph 12, <br /> <br />(ii) To any successor of the Depository (or its <br />nominee) or any substitute depository (a "substitute <br />depository") designated pursuant to clause (iii) of this <br />subparagraph, provided that any successor of the Depository <br />or any substitute depository must be both a "clearing <br />corporation" as defined in the Minnesota Uniform Commercial <br />Code at Minnesota Statutes, Section 336.8-102, and a <br />qualified and registered "clearing agency" as provided in <br />Section 17A of the Securities Exchange Act of 1934, as <br />amended, <br /> <br />(iii) To a substitute depository designated by and <br />acceptable to the City upon (a) the determination by the <br />Depository that the Bonds shall no longer be eligible for <br />its depository services or (b) a determination by the city <br />that the Depository is no longer able to carry out its <br />functions, provided that any substitute depository must be <br />qualified to act as such, as provided in clause (ii) of this <br />subparagraph, or <br /> <br />26250 <br /> <br />6 <br />