Common use of Cancellation of Surrendered Securities Clause in Contracts

Cancellation of Surrendered Securities. All Securities surrendered for the purpose of payment, redemption, exchange or registration of transfer, or for credit against a sinking fund, shall, if surrendered to the Company or any paying agent, be delivered to the Trustee for cancellation, or, if surrendered to the Trustee, shall be canceled by it, and no Securities shall be issued in lieu thereof except as expressly required or permitted by any of the provisions of this Indenture. On request of the Company, the Trustee shall deliver to the Company canceled Securities held by the Trustee. In the absence of such request the Trustee may dispose of canceled Securities in accordance with its standard procedures. If the Company shall otherwise acquire any of the Securities, however, 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.

Cancellation of Surrendered Securities. All Securities surrendered for the purpose of payment, redemption, payment or for substitution or exchange or registration of transfer, or for credit against a sinking fund, shall, if surrendered to the Company or any paying agent, transfer hereunder shall be delivered to the Trustee for cancellation, or, if surrendered to the Trustee, cancellation and shall be canceled by itthe Trustee, and no Securities shall be issued in lieu thereof thereof, except as expressly required or permitted by any of the provisions of otherwise provided in this Indenture. On request of the Company, the The Trustee shall destroy all canceled Securities held by it and shall deliver to the Company canceled Securities held by the Trustee. In the absence Issuer a certificate in respect of such request the Trustee may dispose of canceled Securities in accordance with its standard proceduresdestruction. If the Company Issuer shall otherwise acquire any of the Securities, however, 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. Any Securities acquired by the Issuer and delivered to the Trustee shall be canceled by the Trustee upon receipt of written instructions from the Issuer.

Cancellation of Surrendered Securities. All Securities --------------------------------------- surrendered for the purpose of payment, redemption, exchange or registration of transfer, or for credit against a sinking fund, shall, if surrendered to the Company or any paying agent, be delivered to the Trustee for cancellation, or, if surrendered to the Trustee, shall be canceled by it, and no Securities shall be issued in lieu thereof except as expressly required or permitted by any of the provisions of this Indenture. On request of the Company, the Trustee shall deliver to the Company canceled Securities held by the Trustee. In the absence of such request the Trustee may dispose of canceled Securities in accordance with its standard procedures. If the Company shall otherwise acquire any of the Securities, however, 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.