Guam § 11 - Funds and Accounts.

§ 11. Funds and Accounts.

Any fund required by this Indenture to be established and

maintained by the Trustee or Depositary may be established and

maintained in the accounting records of the Trustee or Depositary,

either as a fund or an account, and may, for the purposes of such

records, any audits thereof and any reports or statements with

respect thereto, be treated either as a fund or as an account; but all

such records with respect to all such funds shall at all times be

maintained in accordance with generally accepted accounting

principles, to the extent practicable, and with due regard for the

requirements of §§ 5.08 and 6.09, as established by Request of the

Government and for the protection of the security of the Bonds

and the rights of every holder thereof.