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of such delivery or non-delivery in accordance with the terms of Section 2.3(d) hereof. The Auction Agent shall have no duty or liability with respect to enforcement of this subsection (a). (b) None of the Auction Agent, the Trustee, or the Authority shall have any responsibility or liability with respect to the failure of an Existing Holder, a Potential Holder or its respective Participant to deliver ARS or to pay for ARS sold or purchased pursuant to the Auction Procedures or otherwise. 2.7. Fixing and Separating of ARS and IRS. (a) Upon receipt of instructions to cause an equal amount of Regular ARS to be Fixed with Regular IRS from any Beneficial Owner of such ARS and IRS, Smith Barney shall, on a Business Day other than during a Closed Period, promptly deliver to the Auction Agent (at the address specified herein) a Request to Fix. Smith Barney shall submit a separate Request to Fix to the Auction Agent for each Beneficial Owner requesting ARS and IRS to be Fixed. A Request to Fix delivered to the Auction Agent pursuant to this Section 2.7 shall only be effective for Regular ARS and Regular IRS for which Smith Barney requests that specified equal principal amounts of such Beneficial Owner's Regular ARS be Fixed with Regular IRS (which shall have the same maturity date) in the designated account of the Participant of such Beneficial Owner at the Securities Depository. (b) Upon receipt of instructions to cause Regular Fixed AIRS or Newly Fixed AIRS to be Separated from any Beneficial Owner of Regular Fixed AIRS or Newly Fixed AIRS, as the case may be, Smith Barney shall, on a Business Day during the seven-day period, other than during a Closed Period, immediately prior to a Record Date, deliver to the Auction Agent (at the address specified herein) a completed Request to Separate. Smith Barney shall submit a Request to Separate to the Auction Agent for each Beneficial Owner requesting that its Regular Fixed AIRS or Newly Fixed AIRS be Separated. A Request to Separate delivered to the Auction Agent pursuant to this Section 2.7 shall only be effective for Regular Fixed AIRS or Newly Fixed AIRS, as the case may be, for which Smith Barney requests that specified equal amounts of such Beneficial Owners' Regular Fixed AIRS or Newly Fixed AIRS be Separated in the designated account of the Participant of such Beneficial Owner at the Securities Depository on the following Interest Payment Date or, if such Interest Payment Date falls within a Closed Period, on the next succeeding Auction Period Accrual Date. (c) Notwithstanding anything herein to the contrary (i) ARS and IRS may be Fixed and Separated only so long as the ownership thereof is maintained in book-entry form and (ii) while DTC is the Securities Depository, in the event of any conflict between the provisions of Sections 2.7(a) or 2.7(b) hereof and of any agreement with DTC, the latter provisions shall govern. 2.8 Mandatory Tender of ARS. (a) Any Beneficial Owner of IRS may, at any time and from time to time, notify a Broker-Dealer that such Beneficial Owner intends to submit a Bid for a specified principal amount of ARS (having the same maturity date as such IRS) on the next succeeding LA1-69760a 8