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Bonds is exercised, the Issuer shall execute and the Trustee <br />shall authenticate and deliver Bonds in accordance with the pro- <br />visions of this Indenture. All Bonds surr ende red in any such <br />exchanges or upon any such registration of transfer ~hall forth- <br />with be delivered to the Trustee to be cancelled or, at the <br />option of the Trustee, to be held for possible future redelivery. <br />There shall be no charge to the holder or his transferee for any <br />such exchange or registration of transfer of □on<ls, and all <br />expenses incurred by the Trustee in connection with any such <br />exchange or registration shall constitute Anministration <br />Expenses. 'rhe Trustee may, however, r~quire the payment of a sum <br />sufficient to pay any tax or other governmental charge required <br />to be paid with respect to any such exchange or registration of <br />transfer. Neither the Issuer nor the Trust ee shall be required <br />to register the transfer of or exchange any Bond f or a period of <br />10 days next preceding any interest or principal payment date on <br />such Bond or after the selection of such Bond for redemption and <br />notice of its re<lemption shall have been given in the manner pro- <br />vided in Article VIII hereof. <br />-30-