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(v) If the ownership of the ARS is no longer maintained in book-entry form by the Securities Depository, no further Auctions will be held and the Applicable ARS Rate for each Auction Period commencing after the delivery of certificates pursuant to Section 3.01 of the Indenture will equal the Maximum Rate as determined by the Trustee on the Business Day immediately preceding the first day of such Auction Period as provided in the Indenture. (vi) If any "AA" Composite Commercial Paper Rate is not quoted on an interest basis but is quoted on a discount basis, the Auction Agent shall convert the quoted rate to the interest equivalent thereof, as set forth in the definition of "AA" Composite Commercial Paper Rate in Appendix XX of the Indenture; or, if the rate obtained by the Auction Agent is not quoted on an interest or discount basis, the Auction Agent shall convert the quoted rate to an interest rate after consultation with the Market Agent as to the method of such conversion. (vii) If the Federal Reserve Bank of New York has not made available its 30-day commercial paper rate for purposes of determining the "AA" Composite Commercial Paper Rate, the Trustee shall request that the Authority appoint by Officer's Certificate at least three commercial paper dealers to provide commercial paper quotes for purposes of determining the "AA" Composite Commercial Paper Rate, as further provided in Section 4(b) of Appendix A of the Indenture. 2.4. Auction Schedule. The Auction Agent shall conduct Auctions in accordance with the schedule set forth below. Such schedule may be changed by the Auction Agent with the consent of the Trustee and the Market Agent, which consent shall not be unreasonably withheld or delayed. The Auction Agent shall give notice pursuant to Section 7.2 hereof of any such change to each Broker-Dealer. Such notice shall be given prior to the first Auction Date on which any such change shall be effective. By 9:00 a.m. The Market Agent provides the Auction Agent with the Index. By 9:30 a.m. The Auction Agent advises the Trustee and the Broker-Dealers of the Maximum Rate, the Minimum Rate and the "AA" Composite Commercial Paper Rate or the Index, as the case may be, used in determining such Maximum Rate and Minimum Rate, as set forth in Section 2.3(b)(i) hereof. 9:30 a.m.-1:00 p.m. The Auction Agent assembles information communicated to it by Broker-Dealers as provided in Section 2(b)(i) of the Auction and Settlement Procedures. The Submission Deadline is 1:00 p.m., New York City time. Not earlier than 1:00 p.m. The Auction Agent makes the determination pursuant to Section 2(c)(i) of the Auction and Settlement Procedures. By approximately LA1-69756.2 8