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Cont. (Part 3)
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Vol. 1- City of Santa Ana Financing Authority (Police Admin. and Holding Facility)
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Cont. (Part 3)
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rendering comparable services to others. The Auction Agent shall advise the Trustee at least <br /> annually, at the Trustee's request, of the then current prevailing rate. If the then-current rate at <br /> which the Broker-Dealer Fee accrues is not equal to such prevailing rate, the Trustee, with the <br /> consent of the Market Agent, shall change the rate at which the Broker-Dealer Fee accrues so <br /> that it equals such prevailing rate. If the Trustee changes the Broker-Dealer Fee Rate pursuant to <br /> the terms hereof, the Trustee shall notify the Auction Agent thereof. Any change in the rate at <br /> which the Broker-Dealer Fee accrues shall be effective on the Interest Payment Date next <br /> succeeding such change. <br /> (b) On the first Interest Payment Date and each Interest Payment Date thereafter <br /> as described above, the Trustee shall pay to the Auction Agent an amount in cash equal to the <br /> accrued Auction Agent Fee and the accrued Broker-Dealer Fee payable pursuant to Sections <br /> 6.4(a) and 6.5(a) hereof. The Auction Agent shall pay itself an amount equal to the Auction <br /> Agent Fee out of such moneys, and pay the remainder of such moneys to the Broker-Dealers in <br /> payment of the Broker-Dealer Fee as set forth in Section 2.5(b) of each Broker-Dealer <br /> Agreement. <br /> Section 7. Miscellaneous. <br /> 7.1. Term of Agreement. <br /> (a) This Agreement shall terminate on the earlier of(i) the satisfaction and <br /> discharge of the Indenture or this Agreement and (ii) the date on which this Agreement is <br /> terminated in accordance with this Section. The Trustee may terminate this Agreement in <br /> accordance with Section 11 of Appendix A of the Indenture. The Auction Agent may terminate <br /> this Agreement upon written notice to the Trustee, the Authority and the Market Agent on the <br /> date specified in such notice, which date shall be no earlier than 90 days after the date of <br /> delivery of such notice. Notwithstanding the foregoing, the provisions of Section 2 hereof shall <br /> terminate upon the delivery of certificates representing the ARS pursuant to Section 5 of the <br /> Indenture and the provisions of Section 3 herein shall terminate upon the delivery of certificates <br /> representing the ARS or the IRS pursuant to Section 5 of the Indenture. Notwithstanding the <br /> foregoing, the Auction Agent may terminate this Agreement if, after notifying the Trustee, the <br /> Authority and the Market Agent that it has not received payment of any Auction Agent Fee due it <br /> in accordance with the terms hereof, the Auction Agent does not receive such payment within 30 <br /> days. <br /> (b) Except as otherwise provided in this subsection (b), the respective rights and <br /> duties of the Trustee and the Auction Agent under this Agreement shall cease upon termination of <br /> this Agreement. The Trustee's representations, warranties, covenants and obligations to the <br /> Auction Agent under Sections 5 and 6.4 hereof and to the Broker-Dealer under Section 6.5 <br /> hereof shall survive the termination of this Agreement. Upon termination of this Agreement, the <br /> Auction Agent shall promptly deliver to the Trustee copies of all books and records maintained <br /> by it with respect to the ARS in connection with its duties hereunder. <br /> 7.2. Communications. <br /> LAI-69756.2 17 <br />
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