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electronic funds transfer as may be agreed by the Finance Officer, No Registrar, Paying Agent, <br /> and the Depository; if the Notes are available in physical form to regi tered owners other than a <br /> Depository, interest on each Note shall be paid by check or draft of he Paying Agent, payable <br /> upon presentation thereof in lawful money of the United States of inerica, or by electronic <br /> funds transfer as may be agreed by the Finance Officer, Note Re istrar, Paying Agent, and <br /> registered owner to the person in whose name such Note is registered at the close of business on <br /> the applicable Record Date. The applicable Record Date is the firs day of the month of any <br /> interest payment date. The principal of the Notes shall be payable in 1 wful money of the United <br /> States of America upon presentation thereof at the principal office ma ntained for the purpose by <br /> the Paying Agent located in the City of Chicago, Illinois, or at su cessor Paying Agent and <br /> address. <br /> Section S. Book Entry Form. At the request of the hereinaft r defined Purchaser, upon <br /> initial issuance, the ownership of each Note may be limited to registra ion in the Note Register in <br /> such name as may be provided by a selected Depository, as no inee ("Nominee") of the <br /> Depository. All of the outstanding Notes in such limited registration rm ("Book Entry Form") <br /> from time to time shall be registered in the Note Register solely in he name of the Nominee. <br /> The Finance Officer and the Paying Agent and Note Registrar are uthorized to execute and <br /> deliver on behalf of the City such letters to or agreements with t e Depository as shall be <br /> necessary to effectuate such book-entry system (any such letter or a reement being referred to <br /> herein as the "Representation Letter"). Without limiting the genera ity of the authority given <br /> with respect to entering into such Representation Letter, it may contai provisions relating to (a) <br /> payment procedures, (b) transfers of the Notes or of beneficial intere ts therein, (c) redemption <br /> notices and procedures unique to the Depository, (d) additional notic s or communications, and <br /> (e) amendment from time to time to conform with changing customs and practices with respect <br /> -5- <br />