Common use of Mutilated, Destroyed, Lost and Stolen Bonds Clause in Contracts

Mutilated, Destroyed, Lost and Stolen Bonds. If (a) any mutilated Bond is surrendered to the Trustee, or the Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (b) there is delivered to the Trustee such security or indemnity as may be required by the Trustee to save each of the Trustee and the Issuer harmless, then, in the absence of notice to the Trustee that such Bond has been acquired by a bona fide purchaser, the Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a new Bond of the same series and maturity and of like tenor and principal amount, bearing a number not contemporaneously outstanding. Upon the issuance of any new Bond under this Section, the Issuer and the Trustee may require the payment from the Owner thereof of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses connected therewith. Every new Bond issued pursuant to this Section in lieu of any destroyed, lost or stolen Bond, shall constitute an original additional contractual obligation of the Issuer, whether or not the destroyed, lost or stolen Xxxx shall be at any time enforceable by anyone, and shall be entitled to all the security and benefits of this Indenture equally and ratably with all other Outstanding Bonds.

Appears in 1 contract

Samples: Loan Agreement

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Mutilated, Destroyed, Lost and Stolen Bonds. If (a) any mutilated Bond is surrendered to Upon receipt by the Trustee, or Company and the Trustee receives of evidence satisfactory to its satisfaction them of the destructionloss, loss theft, destruction or theft mutilation of any Bond, and (b) there is delivered of indemnity satisfactory to them and upon surrender and cancellation of such Bond, if any, if mutilated, the Company may execute, and the Trustee such security or indemnity as may be required by the Trustee to save each of the Trustee and the Issuer harmless, then, in the absence of notice to the Trustee that such Bond has been acquired by a bona fide purchaser, the Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a new Bond of the same series and maturity and of like tenor tenor, to be issued in lieu of such lost, stolen, destroyed or mutilated Bond. Such new Bond may bear such endorsement as may be agreed upon by the Company and principal amount, bearing the Trustee. The Company may require the payment of a number not contemporaneously outstanding. Upon sum sufficient to reimburse it for all expenses in connection with the issuance issue of any each new Bond under this Section, the Issuer and the Trustee may require the payment from the Owner thereof of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses connected therewith. Every Any new Bond issued pursuant to under the provisions of this Section in lieu of any destroyedBond lost, lost stolen, destroyed or stolen Bond, mutilated shall constitute an original additional original, additional, contractual obligation of the Issuer, whether or not the destroyed, lost or stolen Xxxx shall be at any time enforceable by anyone, Company and shall be entitled to all the security and benefits of this Indenture secured equally and ratably with all other Outstanding BondsBonds Outstanding. Neither the Company nor the Trustee shall be under any duty or liability to issue a new Bond in substitution for or in lieu of any Bond lost, stolen, destroyed or mutilated except under the provisions of this Section.

Appears in 1 contract

Samples: Unitil Corp

Mutilated, Destroyed, Lost and Stolen Bonds. If (a) any mutilated Bond is surrendered to Upon receipt by the Trustee, or Company and the Trustee receives of evidence satisfactory to its satisfaction them of the destructionloss, loss theft, destruction or theft mutilation of any Bond, and Bond (b) there is delivered to the Trustee such security or indemnity as may be required by the Trustee to save each of the Trustee and the Issuer harmless, thenwhich evidence shall be, in the absence case of a holder which is an Institutional Holder, written notice thereof from such Institutional Holder), and of indemnity satisfactory to them (provided that in the case of a holder which is an Institutional Holder, the unsecured agreement of indemnity from such Institutional Holder shall be deemed to be satisfactory) and upon surrender and cancellation of such Bond, if any, if mutilated, the Company may execute, and the Trustee that such Bond has been acquired by a bona fide purchaser, the Trustee shall may authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a new Bond of the same series and maturity and of like tenor tenor, to be issued in lieu of such lost, stolen, destroyed or mutilated Bond. Such new Bond may bear such endorsement as may be agreed upon by the Company and principal amount, bearing the Trustee. The Company may require the payment of a number not contemporaneously outstanding. Upon sum sufficient to reimburse it for all expenses in connection with the issuance issue of any each new Bond under this Section, the Issuer and the Trustee may require the payment from the Owner thereof of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses connected therewith. Every Any new Bond issued pursuant to under the provisions of this Section in lieu of any destroyedBond lost, lost stolen, destroyed or stolen Bond, mutilated shall constitute an original additional original, additional, contractual obligation of the Issuer, whether or not the destroyed, lost or stolen Xxxx shall be at any time enforceable by anyone, Company and shall be entitled to all the security and benefits of this Indenture secured equally and ratably with all other Outstanding BondsBonds Outstanding. Neither the Company nor the Trustee shall be under any duty or liability to issue a new Bond in substitution for or in lieu of any Bond lost, stolen, destroyed or mutilated except under the provisions of this Section.

Appears in 1 contract

Samples: Unitil Corp

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Mutilated, Destroyed, Lost and Stolen Bonds. If (a) any mutilated Bond is surrendered to the Trustee, or the Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (b) there is delivered to the Trustee such security or indemnity as may be required by the Trustee to save each of the Trustee and the Issuer harmless, then, in the absence of notice to the Trustee that such Bond has been acquired by a bona fide purchaser, the Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a new Bond of the same series and maturity and of like tenor and principal amount, bearing a number not contemporaneously outstanding. Upon the issuance of any new Bond under this Section, the Issuer and the Trustee may require the payment from the Owner thereof of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses connected therewith. Every new Bond issued pursuant to this Section in lieu of any destroyed, lost or stolen Bond, shall constitute an original additional contractual obligation of the Issuer, whether or not the destroyed, lost or stolen Xxxx Bond shall be at any time enforceable by anyone, and shall be entitled to all the security and benefits of this Indenture equally and ratably with all other Outstanding Bonds.

Appears in 1 contract

Samples: Loan Agreement

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