Common use of Cancellation of Securities; Destruction Thereof Clause in Contracts

Cancellation of Securities; Destruction Thereof. All Securities surrendered for payment, redemption, registration of transfer or exchange, or for credit against any payment in respect of a sinking or analogous fund, shall, if surrendered to the Company or any Paying Agent or any Securities Registrar, be delivered to the Trustee for cancellation or, if surrendered to the Trustee, shall be cancelled by it, and no Securities shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Indenture. The Trustee shall, unless instructed to deliver the Securities to the Company in a company order, destroy such cancelled Securities and deliver certification of their destruction to the Company. If the Company shall acquire any of the Securities, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are delivered to the Trustee for cancellation.

Appears in 5 contracts

Samples: Aspen Insurance Holdings LTD, Indenture (Covanta Capital Trust Iii), Covanta Capital Trust Iii

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Cancellation of Securities; Destruction Thereof. All Securities surrendered for payment, redemption, registration of transfer or exchange, or for credit against any payment in respect of a sinking or analogous fund, shall, if surrendered to the Company Issuer or any Paying Agent or any Securities Registrar, be delivered to the Trustee for cancellation or, if surrendered to the Trustee, shall be cancelled by it, and no Securities shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Indenture. The Trustee shall, unless instructed to deliver the Securities to the Company Issuer in a company orderan Issuer Order, destroy such cancelled Securities and deliver certification of their destruction to the CompanyIssuer. If the Company Issuer shall acquire any of the Securities, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are delivered to the Trustee for cancellation.

Appears in 5 contracts

Samples: Indenture (Idacorp Trust Iii), Indenture (Idacorp Trust Iii), Indenture (Idacorp Trust Iii)

Cancellation of Securities; Destruction Thereof. All Securities surrendered for payment, redemption, registration of transfer or exchange, or for credit against any payment in respect of a sinking or analogous fund, shall, if surrendered to the Company Issuer or any Paying Agent agent of the Issuer or any Securities Registraragent of the Trustee, shall be delivered to the Trustee or its agent for cancellation or, if surrendered to the Trustee, shall be cancelled by it, ; and no Securities shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Indenture. The Trustee shall, unless instructed to or its agent shall cancel Securities held by it and deliver the Securities a certificate of cancellation to the Company in a company order, destroy such cancelled Securities and deliver certification of their destruction to the CompanyIssuer. If the Company Issuer or its agent shall acquire any of the Securities, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are delivered to the Trustee or its agent for cancellation.

Appears in 5 contracts

Samples: Indenture (CMS Energy Corp), Indenture (Laclede Capital Trust I), Indenture (CMS Energy Trust Ii)

Cancellation of Securities; Destruction Thereof. All Securities surrendered for payment, redemption, registration of transfer or exchange, or for credit against any payment in respect of a sinking or analogous fund, shalland all Coupons surrendered for payment or exchange, if surrendered to the Company Issuer or any Paying Agent or any Securities Registrar, shall be delivered to the Trustee for cancellation or, if surrendered to the Trustee, shall be cancelled canceled by it, and no Securities or Coupons shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Indenture. The Trustee shall, unless instructed to deliver the Securities to the Company in a company order, shall destroy such cancelled canceled Securities and Coupons held by it and deliver certification a certificate of their destruction to the CompanyIssuer. If the Company Issuer shall acquire any of the Securities, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are delivered to the Trustee for cancellation.

Appears in 4 contracts

Samples: Indenture (Starwood Hotels & Resorts), Indenture (Sheraton Holding Corp), Itt Corp /Nv/

Cancellation of Securities; Destruction Thereof. All Unless otherwise provided with respect to any series of Securities, all Securities surrendered for payment, redemption, registration of transfer or exchange, or for credit against any payment in respect of a sinking or analogous fund, shall, if surrendered to the Company Issuer or any Paying Agent agent of the Issuer or any Securities Registrarthe Trustee, shall be delivered to the Trustee for cancellation or, if surrendered to the Trustee, shall be cancelled by it, ; and no Securities shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Indenture. The Trustee shall, unless instructed to shall cancel Securities held by it and deliver the Securities a certificate of cancellation to the Company in a company order, destroy such cancelled Securities and deliver certification of their destruction to Issuer at the CompanyIssuer's written direction. If the Company Issuer shall acquire any of the Securities, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are delivered to the Trustee for cancellation.

Appears in 4 contracts

Samples: Indenture (Universal Health Services Inc), Indenture (Universal Health Services Inc), Indenture (Emerson Electric Co)

Cancellation of Securities; Destruction Thereof. All Securities surrendered for exchange for Securities of the same series or for payment, redemption, registration of transfer or exchangetransfer, conversion or for credit against any payment in respect of a sinking or analogous fund, shall, if surrendered to the Company Issuer or any Paying Agent agent of the Issuer or any Securities Registrarthe Trustee, shall be delivered to the Trustee for cancellation or, if surrendered to the Trustee, shall be cancelled by it, ; and no Securities shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Indenture. The Trustee shall, unless instructed to deliver the Securities to the Company in a company order, destroy such shall dispose of cancelled Securities held by it in accordance with its customary procedures and deliver certification the record retention requirements of their destruction to the Companyapplicable securities laws. If the Company Issuer shall acquire any of the Securities, such acquisition shall not operate as a redemption or satisfaction of the indebtedness Debt represented by such Securities unless and until the same are delivered to the Trustee for cancellation.

Appears in 4 contracts

Samples: Indenture (Intercept Pharmaceuticals, Inc.), Security Agreement (Intercept Pharmaceuticals, Inc.), Security Agreement (Intercept Pharmaceuticals, Inc.)

Cancellation of Securities; Destruction Thereof. All Securities surrendered for payment, redemption, registration of transfer or exchange, or for credit against any payment in respect of a sinking or analogous fund, shall, if surrendered to the Company Issuer or any Paying Agent agent of the Issuer or any Securities Registrarthe Trustee, shall be delivered to the Trustee for cancellation or, if surrendered to the Trustee, shall be cancelled canceled by it, it provided all conditions regarding such cancellation have been met; and no Securities shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Indenture. The Trustee shallshall cancel and dispose of all Securities surrendered for registration of transfer, unless instructed to deliver exchange, payment or cancellation in accordance with the Securities to the Company in a company order, destroy such cancelled Securities and deliver certification Trustee's policy of their destruction to the Companydisposal. If the Company Issuer shall acquire any of the Securities, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are delivered to the Trustee for cancellation.

Appears in 4 contracts

Samples: Indenture (NRG Energy Inc), Indenture (NRG Energy Inc), Indenture (NRG Energy Inc)

Cancellation of Securities; Destruction Thereof. All Securities surrendered for exchange for Securities of the same series or for payment, redemption, registration of transfer or exchangetransfer, conversion or for credit against any payment in respect of a sinking or analogous fund, shall, if surrendered to the Company Issuer or any Paying Agent agent of the Issuer or any Securities Registrarthe Trustee, shall be delivered to the Trustee for cancellation or, if surrendered to the Trustee, shall be cancelled by it, ; and no Securities shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Indenture. The Trustee shall, unless instructed to shall dispose of cancelled Securities held by it in accordance with its standard procedures and deliver the Securities a certificate of disposition to the Company in a company order, destroy such cancelled Securities and deliver certification of their destruction to the CompanyIssuer upon request. If the Company Issuer shall acquire any of the Securities, such acquisition shall not operate as a redemption or satisfaction of the indebtedness Debt represented by such Securities unless and until the same are delivered to the Trustee for cancellation.

Appears in 2 contracts

Samples: Indenture (Idex Corp /De/), Indenture (Idex Corp /De/)

Cancellation of Securities; Destruction Thereof. All Securities surrendered for exchange for Securities of the same series or for payment, redemption, registration of transfer or exchangetransfer, conversion or for credit against any payment in respect of a sinking or analogous fund, shall, if surrendered to the Company or any Paying Agent the Guarantor[s] or any Securities Registraragent of the Company, the Guarantor[s] or the Trustee, shall be delivered to the Trustee for cancellation or, if surrendered to the Trustee, shall be cancelled by it, ; and no Securities shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Indenture. The Trustee shall, unless instructed to deliver the Securities to the Company in a company order, destroy such shall dispose of cancelled Securities held by it and deliver certification a certificate of their destruction disposition to the Company. If the Company or the Guarantor[s] shall acquire any of the Securities, such acquisition shall not operate as a redemption or satisfaction of the indebtedness Debt represented by such Securities unless and until the same are delivered to the Trustee for cancellation.

Appears in 2 contracts

Samples: Indenture (Discovery Communications, LLC), Indenture (Discovery Communications, LLC)

Cancellation of Securities; Destruction Thereof. All Securities surrendered for payment, redemption, registration of transfer or exchange, or for credit against any payment in respect of a sinking or analogous fund, shall, if surrendered to the Company Issuer or any Paying Agent agent of the Issuer or any Securities Registraragent of the Trustee, shall be delivered to the Trustee or its agent for cancellation or, if surrendered to the Trustee, shall be cancelled by it, ; and no Securities shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Indenture. The Trustee shall, unless instructed to or its agent shall dispose of cancelled Securities held by it and deliver the Securities a certificate of disposition to the Company in a company order, destroy such cancelled Securities and deliver certification of their destruction to the CompanyIssuer. If the Company Issuer or its agent shall acquire any of the Securities, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are delivered to the Trustee or its agent for cancellation.

Appears in 2 contracts

Samples: Consumers Power Co Financing I, Consumers Power Co Financing I

Cancellation of Securities; Destruction Thereof. All Securities surrendered for exchange for Securities of the same series or for payment, redemption, registration of transfer or exchangetransfer, conversion or for credit against any payment in respect of a sinking or analogous fund, shall, if surrendered to the Company or any Paying Agent agent of the Company or any Securities Registrarthe Trustee, shall be delivered to the Trustee for cancellation or, if surrendered to the Trustee, shall be cancelled by it, ; and no Securities shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Indenture. The Trustee shall, unless instructed to deliver the Securities to the Company in a company order, destroy such shall dispose of cancelled Securities held by it and deliver certification a certificate of their destruction disposition to the Company. If the Company shall acquire any of the Securities, such acquisition shall not operate as a redemption or satisfaction of the indebtedness Debt represented by such Securities unless and until the same are delivered to the Trustee for cancellation.

Appears in 2 contracts

Samples: Indenture (Warner Bros. Discovery, Inc.), Indenture (Discovery Communications, LLC)

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Cancellation of Securities; Destruction Thereof. All Securities surrendered for payment, redemption, registration of transfer or exchange, or for credit against any payment in respect of a sinking or analogous fund, shall, if surrendered to the Company or any Paying Agent or any Securities Registrar, be delivered to the Trustee for cancellation or, if surrendered to the Trustee, shall be cancelled by it, and no Securities shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Indenture. The All cancelled Securities held by the Trustee shallshall be disposed of by the Trustee in accordance with its normal operating procedures, unless instructed to deliver the Securities to by a company order the Company in a company order, destroy such cancelled Securities and deliver certification of directs their destruction return to the Companyit. If the Company shall acquire any of the Securities, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are delivered to the Trustee for cancellation.

Appears in 2 contracts

Samples: MRH Capital Trust I, Endurance Specialty Holdings LTD

Cancellation of Securities; Destruction Thereof. All Securities surrendered for payment, redemption, registration of transfer or exchange, or for credit against any payment in respect of a sinking or analogous fund, shalland all Coupons surrendered for payment or exchange, if surrendered to the Company Issuer or any Paying Agent or any Securities Registrar, shall be delivered to the Trustee for cancellation or, if surrendered to the Trustee, shall be cancelled by it, and no Securities or Coupons shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Indenture. The Trustee shall, unless instructed to deliver the Securities to the Company in a company order, shall destroy such cancelled Securities and Coupons held by it and deliver certification a certificate of their destruction to the CompanyIssuer. If the Company Issuer shall acquire any of the Securities, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are delivered to the Trustee for cancellation.

Appears in 1 contract

Samples: Itt Corp

Cancellation of Securities; Destruction Thereof. All Securities surrendered for payment, redemption, registration of transfer or exchange, or for credit against any payment in respect of a sinking or analogous fund, shall, if surrendered to the Company or the Guarantor or any Paying Agent or any Securities Registrar, be delivered to the Trustee for cancellation or, if surrendered to the Trustee, shall be cancelled by it, and no Securities shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Indenture. The Trustee shall, unless instructed to deliver the Securities to the Company in a company orderCompany Order, destroy such cancelled Securities and and, upon the Company’s written request, deliver certification of their destruction to the Company. If the Company or the Guarantor shall acquire any of the Securities, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are delivered to the Trustee for cancellation.

Appears in 1 contract

Samples: Platinum Underwriters Holdings LTD

Cancellation of Securities; Destruction Thereof. All Securities surrendered for payment, redemption, registration of transfer or exchange, or for credit against any payment in respect of a sinking or analogous fund, shall, if surrendered to the Company or any Paying Agent or any Securities Registrar, be delivered to the Trustee for cancellation or, if surrendered to the Trustee, shall be cancelled by it, and no Securities shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Indenture. The All cancelled Securities held by the Trustee shallshall be disposed of by the Trustee in accordance with its customary procedures, unless instructed to deliver the Securities to by a Company Order the Company in a company order, destroy such cancelled Securities and deliver certification of directs their destruction return to the Companyit. If the Company shall acquire any of the Securities, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are delivered to the Trustee for cancellation.

Appears in 1 contract

Samples: Quanta Capital Holdings LTD

Cancellation of Securities; Destruction Thereof. All Securities surrendered for payment, redemption, registration of transfer or exchange, or for credit against any payment in respect of a sinking or analogous fund, shall, if surrendered to the Company or any Paying Agent or any Securities Registrar, be delivered to the Trustee for cancellation or, if surrendered to the Trustee, shall be cancelled by it, and no Securities shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Indenture. The Trustee shall, unless instructed to deliver the Securities to the Company in a company order, destroy shall dispose of such cancelled Securities and deliver certification of their destruction to the Companyin accordance with its customary procedures. If the Company shall acquire any of the Securities, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are delivered to the Trustee for cancellation.

Appears in 1 contract

Samples: Indenture (Sirius International Insurance Group, Ltd.)

Cancellation of Securities; Destruction Thereof. All Securities and Coupons surrendered for payment, redemption, registration of transfer or exchange, or for credit against any payment in respect of a sinking or analogous fund, shall, if surrendered to the Company Issuer or any Paying Agent agent of the Issuer or any Securities Registrarthe Trustee, shall be delivered to the Trustee for cancellation or, if surrendered to the Trustee, shall be cancelled canceled by it, ; and no Securities or Coupons shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Indenture. The Trustee shall, unless instructed to deliver the Securities to the Company in a company order, shall destroy such cancelled Securities and Coupons held by it and deliver certification a certificate of their destruction to the CompanyIssuer. If the Company Issuer shall acquire any of the SecuritiesSecurities or Coupons, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities or Coupons unless and until the same are delivered to the Trustee for cancellation.

Appears in 1 contract

Samples: Indenture (Progressive Corp/Oh/)

Cancellation of Securities; Destruction Thereof. All Securities surrendered for payment, redemption, registration of transfer or exchange, or for credit against any payment in respect of a sinking or analogous fund, shall, if surrendered to the Company or the Guarantor or any Paying Agent or any Securities Registrar, be delivered to the Trustee for cancellation or, if surrendered to the Trustee, shall be cancelled by it, and no Securities shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Indenture. The Trustee shall, unless instructed to deliver the Securities to the Company in a company orderCompany Order, destroy such cancelled Securities and and, upon the Company's written request, deliver certification of their destruction to the Company. If the Company or the Guarantor shall acquire any of the Securities, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are delivered to the Trustee for cancellation.

Appears in 1 contract

Samples: Platinum Underwriters Holdings LTD

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