Common use of Lost, Stolen, Mutilated or Destroyed Certificates Clause in Contracts

Lost, Stolen, Mutilated or Destroyed Certificates. (a) The Partnership shall issue a new Certificate in place of any Certificate previously issued if the registered owner of the Certificate: (i) makes proof by affidavit, in form and substance satisfactory to the Partnership, that a previously issued Certificate has been lost, destroyed or stolen; (ii) requests the issuance of a new Certificate before the Partnership has notice that the Certificate is subject to an adverse claim by another Person or has been acquired by a purchaser for value in good faith and without notice of an adverse claim; (iii) if requested by the Partnership, delivers to the Partnership a bond, in form and substance satisfactory to the Partnership, with such surety or sureties and with fixed or open penalty as the Partnership may direct, to indemnify the Partnership against any claim that may be made on account of the alleged loss, destruction or theft of the Certificate; and (iv) satisfies any other reasonable requirements imposed by the Partnership. (b) When a Certificate has been lost, destroyed or stolen, and the owner fails to notify the Partnership within a reasonable time after he has notice of it, and a Transfer of the Units represented by the Certificate is registered before the Partnership receives such