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

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be required by it to hold the Issuer and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, the Issuer shall execute, and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDED, HOWEVER, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 13 contracts

Samples: Indenture (Impac CMB Trust Series 2004-2), Indenture (Imh Assets Corp Collateralized Asset Backed Bonds Ser 2004 3), Servicing Agreement (Imh Assets Corp Impac CMB Trust Series 2004-1)

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Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be required by it to hold the Issuer and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 8-405 of the UCC are met, the Issuer shall execute, and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDEDprovided, HOWEVERhowever, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 10 contracts

Samples: Servicing Agreement (Impac CMB Trust Series 2005-8), Indenture (IMPAC CMB Trust Series 2005-5), Servicing Agreement (Impac CMB Trust Series 2005-2, Collateralized Asset-Backed Bonds, Series 2005-2)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be required by it to hold the Issuer Issuer, the Bond Insurer and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 8-405 of the UCC are met, the Issuer shall execute, and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDED, HOWEVER, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender xxxrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer Issuer, the Bond Insurer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer Issuer, the Bond Insurer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 6 contracts

Samples: Indenture (Impac CMB Trust Series 2002-8), Indenture (Imh Assets Corp), Indenture (Imh Assets Corp Impac CMB Trust Series 2002-5)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be required by it to hold the Issuer Issuer, the Bond Insurer and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 8-405 of the UCC are met, the Issuer shall execute, and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDEDprovided, HOWEVERhowever, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond Xxxx when so due or payable without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer Issuer, the Bond Insurer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer Issuer, the Bond Insurer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 6 contracts

Samples: Servicing Agreement (Imh Assets Corp., Collateralized Asset-Backed Bonds, Series 2005-7), Indenture (Imh Assets Corp Impac CMB Trust Series 1999-1), Indenture (Imh Assets Corp Collateralized Asset-Backed BDS Ser 1999-2)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture Bond Trustee, or the Indenture Bond Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Bond Trustee such security or indemnity as may be required by it to hold the Bond Issuer and the Indenture Bond Trustee harmless, then, in the absence of notice to the Bond Issuer, the Bond Registrar or the Indenture Bond Trustee that such Bond has been acquired by a bona fide protected purchaser, and provided that the requirements of Section 8- 405 of the UCC are metBond Issuer shall execute and, upon its request, the Issuer shall execute, and upon its request the Indenture Bond Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement BondBond of like Tranche, tenor and principal amount, bearing a number not contemporaneously outstanding; PROVIDEDprovided, HOWEVERhowever, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Bond Issuer may pay such destroyed, lost or stolen Bond when so due or payable payable, without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide protected purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Bond Issuer and the Indenture Bond Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide protected purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Bond Issuer or the Indenture Bond Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03Section, the Bond Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Bond Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Bond Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Bond Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 5 contracts

Samples: Bond Indenture (FirstEnergy Ohio PIRB Special Purpose Trust 2013), Bond Indenture (FirstEnergy Ohio PIRB Special Purpose Trust 2013), Bond Indenture (FirstEnergy Ohio PIRB Special Purpose Trust 2013)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) In the event any Bond or temporary Bond is mutilated, lost, stolen or destroyed, the Trustee may authenticate a new Bond duly executed by the Issuer of like date and denomination as that mutilated, lost, stolen or destroyed; provided that, in the case of any mutilated Bond, such mutilated Bond is shall first be surrendered to the Indenture Trustee, or and in the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft case of any lost, stolen or destroyed Bond, and (ii) there is delivered shall be first furnished to the Indenture Trustee evidence of such security loss, theft or destruction satisfactory to the Trustee, together with indemnity as may be required by it to hold the Issuer and the Indenture Trustee harmless, then, in satisfactory to them. In the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that event any such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, the Issuer shall execute, and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDED, HOWEVER, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payablematured, instead of issuing a replacement duplicate Bond, the Trustee on behalf of the Issuer may pay such destroyed, lost or stolen Bond when so due or payable the same without surrender thereof. The Issuer and the Trustee may charge the Owner of such Bond with their reasonable fees and expenses in this connection. The Issuer shall cooperate with the Trustee in connection with the issue of replacement Bonds, but nothing in this Section shall be construed in derogation of any rights which the Issuer, the Borrower or the Trustee may have to receive indemnification against liability, or payment or reimbursement of expenses, in connection with the issue of a replacement Bond. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentencenew Bond, a bona fide purchaser of the original Bond in lieu of which such replacement new Bond was issued presents for payment or registration such original Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement new Bond (or such payment) from the Person person to whom it was delivered or any Person person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Persontherefrom, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer Trustee or the Indenture Trustee Issuer in connection therewith. Upon the issuance of any replacement Each duplicate Bond under delivered in accordance with this Section 4.03Section, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilatedexcept as otherwise provided herein, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, Issuer and shall be entitled to all the benefits benefit and security of this Indenture equally to the same extent as the Bond in lieu of which such duplicate Bond was delivered. All Bonds shall be held and proportionately with any and all other Bonds duly issued hereunder. The owned upon the express condition that the foregoing provisions of this Section 4.03 are exclusive and shall preclude (are, to the extent lawful) all other rights and remedies permitted by law, exclusive with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds, and shall preclude any and all other rights or remedies.

Appears in 5 contracts

Samples: Indenture of Trust (Southwest Gas Corp), Indenture of Trust (Southwest Gas Corp), Indenture of Trust (Southwest Gas Corp)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Issuer or the Indenture Trustee, or the Issuer and the Indenture Trustee receives receive evidence to its their satisfaction of the destruction (including mutilation tantamount to destruction), loss or theft of any BondBond and the ownership thereof, and (ii) there is delivered to the Issuer and the Indenture Trustee such security or indemnity as may be reasonably required by it them to hold the Issuer each of them and the Indenture Trustee any agent of any of them harmless, then, in the absence of notice to the Issuer, the Bond Registrar Issuer or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, the Issuer shall execute, execute and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDEDnew Bond of like Series, HOWEVERClass, that if any such destroyedtenor and denomination registered in the same manner, lost or stolen Bond, but dated the date of its authentication and bearing a number not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereofcontemporaneously outstanding. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentencenew Bond, a bona fide purchaser of the original Predecessor Bond in lieu of which such replacement Bond was issued presents for payment or transfer such original Predecessor Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement new Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Persontherefrom, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense expenses incurred by the Issuer or the Indenture Trustee in connection therewith. If any such mutilated, destroyed, lost or stolen Bond shall have become, or within seven days shall be, due and payable, or shall have been selected or called for redemption, instead of issuing a new Bond, the Issuer may pay such Bond when so due or payable or upon the Redemption Date or Special Redemption Date without surrender thereof, except that any mutilated Bond shall be surrendered. Upon the issuance of any replacement new Bond under this Section 4.032.06, the Issuer Issuer, the Indenture Trustee or any other Bond Registrar may require the payment by the Holder of such Bond of a sum an amount sufficient to cover pay or discharge any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the reasonable fees and expenses of the Indenture TrusteeAuthenticating Agent and the Bond Registrar) connected in connection therewith. Every replacement new Bond issued pursuant to this Section 4.03 2.06 in replacement lieu of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyoneany Person, and such new Bond shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds of the same Series and Class duly issued hereunder. The provisions of this Section 4.03 2.06 are exclusive and shall preclude (to the extent lawfulpermitted by applicable law) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 5 contracts

Samples: Criimi Mae CMBS Corp, Criimi Mae CMBS Corp, Criimi Mae CMBS Corp

Mutilated, Destroyed, Lost or Stolen Bonds. If (ia) any mutilated Bond is surrendered to the Indenture Trustee, Trustee or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (iib) there is delivered to the Indenture Trustee such security or indemnity as may be required by it the Trustee to hold save the Trustee and the Issuer and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Bond Registrar Issuer or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, the Issuer shall execute, execute and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bondnew Bond or Bonds of the same tenor and aggregate initial principal amount bearing a number not contemporaneously outstanding; PROVIDEDprovided, HOWEVERhowever, that if any such mutilated, destroyed, lost or stolen Bond, but not a mutilated Bond, Bond shall have become or within seven days shall be about to become due and payable, or shall have become subject to redemption in full, instead of issuing a replacement new Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereof, except that any mutilated Bond shall be surrendered. If, after the delivery of such replacement new Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement new Bond was issued presents for payment such original Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement new Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement new Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense expenses incurred by the Issuer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement new Bond under this Section 4.03Section, the Trustee or the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected in connection therewith. Every replacement new Bond issued pursuant to this Section 4.03 in replacement lieu of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 4 contracts

Samples: Custodial Agreement (National Collegiate Trust 1996-S2), Custodial Agreement (National Collegiate Trust 1996-S2), Indenture (National Collegiate Trust 1996-S2)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be required by it to hold the Issuer and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, the Issuer shall execute, and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDEDprovided, HOWEVERhowever, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 4 contracts

Samples: Servicing Agreement (Imh Assets Corp Collateralized Asset Backed Bonds Ser 2004 4), Servicing Agreement (Imh Assets Corp Impac CMB Trust Series 2003 10), Indenture (Imh Assets Corp)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be required by it to hold the Issuer and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 8-405 of the UCC are met, the Issuer shall execute, and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDED, HOWEVER, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 3 contracts

Samples: Indenture (Imh Assets Corp Impac CMB Trust Series 2002 9f), Indenture (Imh Assets Corp Impac CMB Trust Series 2002 9f), IMPAC CMB Trust Series 2005-5

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be required by it to hold the Issuer Issuer, the Bond Insurer and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 8-405 of the UCC are met, the Issuer shall execute, and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDEDprovided, HOWEVERhowever, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer Issuer, the Bond Insurer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer Issuer, the Bond Insurer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 2 contracts

Samples: Indenture (Merrill Lynch Mortgage Investors Inc), Novastar Mortgage Funding Corp

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be required by it to hold the Issuer and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, then the Issuer shall executeexecute and, and upon its request written request, the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement BondBond of like Series (and, if applicable, Class), tenor and principal amount, bearing a number not contemporaneously outstanding; PROVIDEDprovided, HOWEVERhowever, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, or shall have been called for redemption, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable or upon the Optional Redemption Date without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, Person and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03Section, the Issuer and/or the Indenture Trustee may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture TrusteeTrustee and its counsel) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be found at any time enforceable or enforced by anyoneany Person, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 2 contracts

Samples: Transition Property Servicing Agreement (Oncor Electric Delivery Transition Bond Co LLC), Transition Property Servicing Agreement (Oncor Electric Delivery Transition Bond Co LLC)

Mutilated, Destroyed, Lost or Stolen Bonds. (a) If (i) any mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Issuer and the Trustee receives evidence to its their satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Issuer and the Trustee such security or and indemnity as may be reasonably required by it each of them to hold the Issuer and the Indenture Trustee harmlesseach of them harmless (including a lost instrument bond), then, in the absence of written notice to the Issuer, the Bond Registrar Issuer or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, the Issuer shall executeexecute and, and upon its request request, the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bondnew Bond of like tenor and principal amount, bearing a number not contemporaneously outstanding; PROVIDEDprovided, HOWEVERhowever, that if any such mutilated, destroyed, lost or stolen Bond, but not a mutilated Bond, Bond shall have become or within seven days shall be about to become due and payable, then, instead of issuing a replacement new Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable Xxxx without surrender thereof, except that any mutilated Bond shall be surrendered. If, after the delivery of such replacement new Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement new Bond was issued presents for payment such original Bond, the Issuer Issuer, and the Indenture Trustee shall be entitled to recover such replacement new Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement new Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense expenses incurred by the Issuer or and the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 2 contracts

Samples: Warren Resources (Warren Resources Inc), Warren Resources (Warren Resources Inc)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i1) any mutilated Bond is surrendered to the Indenture Trustee, Bond Registrar or the Indenture Trustee Bond Registrar receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii2) there is delivered to the Indenture Trustee Bond Registrar such security or indemnity as may be required by it the Bond Registrar to hold save each of the Issuer and the Indenture Trustee Bond Registrar harmless, then, in the absence of notice to the Issuer, Issuer or the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, the Issuer Owner Trustee shall execute, execute and upon its request the Indenture Trustee Bond Registrar shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDEDnew Bond or Bonds of the same Class, HOWEVER, that if any such destroyed, lost or stolen Bond, but tenor and aggregate initial principal amount bearing a number not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereofcontemporaneously outstanding. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentencenew Bond, a bona fide purchaser of the original Bond in lieu of which such replacement new Bond was issued presents for payment such original Bond, the Issuer and the Indenture Trustee Bond Registrar shall be entitled to recover such replacement new Bond (or such payment) from the Person person to whom it was delivered or any Person person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Persontherefrom, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense expenses incurred by the Issuer or the Indenture Trustee Bond Registrar in connection therewith. If any such mutilated, destroyed, lost or stolen Bond shall have become or shall be about to become due and payable, or shall have become subject to redemption in full, instead of issuing a new Bond, the Issuer may pay such Bond without surrender thereof, except that any mutilated Bond shall be surrendered. Upon the issuance of any replacement new Bond under this Section 4.03Section, the Issuer or the Bond Registrar may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture TrusteeTrustee or the Bond Registrar) connected therewith. Every replacement new Bond issued pursuant to this Section 4.03 in replacement lieu of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds of the same Class duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 2 contracts

Samples: Indenture (Fund America Investors Corp Ii), Indenture (Fund America Investors Corp Ii)

Mutilated, Destroyed, Lost or Stolen Bonds. (a) If (i) any mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Issuer and the Trustee receives evidence to its their satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Issuer and the Trustee such security or and indemnity as may be reasonably required by it each of them to hold the Issuer and the Indenture Trustee harmlesseach of them harmless (including a lost instrument bond), then, in the absence of written notice to the Issuer, the Bond Registrar Issuer or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, the Issuer shall executeexecute and, and upon its request request, the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bondnew Bond of like tenor and principal amount, bearing a number not contemporaneously outstanding; PROVIDEDprovided, HOWEVERhowever, that if any such mutilated, destroyed, lost or stolen Bond, but not a mutilated Bond, Bond shall have become or within seven days shall be about to become due and payable, then, instead of issuing a replacement new Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereof, except that any mutilated Bond shall be surrendered. If, after the delivery of such replacement new Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement new Bond was issued presents for payment such original Bond, the Issuer Issuer, and the Indenture Trustee shall be entitled to recover such replacement new Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement new Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense expenses incurred by the Issuer or and the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 2 contracts

Samples: Indenture (Warren Resources Inc), Indenture (Warren Resources Inc)

Mutilated, Destroyed, Lost or Stolen Bonds. If (ia) any mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Depositor and the Trustee receives receive evidence to its their satisfaction of the destruction, loss or theft of any Bond, and (iib) there is delivered to the Indenture Depositor and the Trustee such security or indemnity as may be required by it them to hold the Issuer and the Indenture Trustee save each of them harmless, then, in the absence of notice to the Issuer, Depositor or the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, the Issuer Depositor shall execute, execute and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bondnew Bond of the same Series, Class, tenor and principal amount, bearing a number not contemporaneously outstanding; PROVIDEDprovided, HOWEVERhowever, that if any such destroyedmutilated, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so shall have become or shall be about to become due and payable, or payable shall have been selected or called for redemption, instead of issuing a new Bond, the Depositor may pay such Bond without surrender thereof, except that any mutilated Bond shall be surrendered. If, after the delivery of such replacement new Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer Depositor and the Indenture Trustee shall be entitled to recover such replacement new Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement new Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaserpurchaser thereof, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense expenses incurred by the Issuer Depositor or the Indenture Trustee in connection therewith. Upon the issuance of any replacement new Bond under this Section 4.03Section, the Issuer Depositor may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement new Bond issued pursuant to this Section 4.03 in replacement lieu of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the IssuerDepositor, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds of the same Series and Class duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 2 contracts

Samples: Indenture (Union Planters Mortgage Finance Corp), Union Planters Home Equity Corp

Mutilated, Destroyed, Lost or Stolen Bonds. (a) If (i) any mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be required by it to hold the Issuer and the Indenture Trustee harmlessharmless and (iii) the requirements of Section 8-405 of the Delaware UCC are met, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaserProtected Purchaser, and provided that the requirements a Manager on behalf of Section 8- 405 of the UCC are met, the Issuer shall execute, and upon its a Manager's request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement BondBond of like Tranche, tenor and initial principal amount in Authorized Denominations, bearing a number not contemporaneously outstanding; PROVIDED, HOWEVERprovided, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser Protected Purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaserProtected Purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 2 contracts

Samples: Indenture (FPL Recovery Funding LLC), Indenture (Florida Power & Light Co)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i1) any mutilated Bond is surrendered to the Indenture Trustee, Bond Registrar or the Indenture Trustee Bond Registrar receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii2) there is delivered to the Indenture Trustee Bond Registrar such security or indemnity as may be required by it the Bond Registrar to hold save each of the Issuer and the Indenture Trustee Bond Registrar harmless, then, in the absence of notice to the Issuer, Issuer or the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, the Issuer Owner Trustee shall execute, execute and upon its request the Indenture Trustee Bond Registrar shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDED, HOWEVER, that if any such destroyed, lost new Bond or stolen Bond, but Bonds of the same tenor and aggregate initial principal amount bearing a number not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereofcontemporaneously outstanding. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentencenew Bond, a bona fide purchaser of the original Bond in lieu of which such replacement new Bond was issued presents for payment such original Bond, the Issuer and the Indenture Trustee Bond Registrar shall be entitled to recover such replacement new Bond (or such payment) from the Person person to whom it was delivered or any Person person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Persontherefrom, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense expenses incurred by the Issuer or the Indenture Trustee Bond Registrar in connection therewith. If any such mutilated, destroyed, lost or stolen Bond shall have become or shall be about to become due and payable, or shall have become subject to redemption in full, instead of issuing a new Bond, the Issuer may pay such Bond without surrender thereof, except that any mutilated Bond shall be surrendered. Upon the issuance of any replacement new Bond under this Section 4.03Section, the Issuer or the Bond Registrar may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture TrusteeTrustee or the Bond Registrar) connected therewith. Every replacement new Bond issued pursuant to this Section 4.03 in replacement lieu of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 2 contracts

Samples: Schedules And (Aames Capital Acceptance Corp), Fund America Investors Corp Ii

Mutilated, Destroyed, Lost or Stolen Bonds. If (i1) any mutilated Bond is surrendered to the Indenture Trustee, Trustee or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii2) there is delivered to the Indenture Trustee such security or indemnity as may be required by it the Trustee to hold save each of the Issuer and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Bond Registrar Issuer or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, the Issuer shall execute, execute and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDED, HOWEVER, that if any such destroyed, lost new Bond or stolen Bond, but Bonds of the same tenor and aggregate initial principal amount bearing a number not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereofcontemporaneously outstanding. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentencenew Bond, a bona fide purchaser of the original Bond in lieu of which such replacement new Bond was issued presents for payment such original Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement new Bond (or such payment) from the Person person to whom it was delivered or any Person person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Persontherefrom, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense expenses incurred by the Issuer or the Indenture Trustee in connection therewith. If any such mutilated, destroyed, lost or stolen Bond shall have become or shall be about to become due and payable, or shall have become subject to redemption in full, instead of issuing a new Bond, the Issuer may pay such Bond without surrender thereof, except that any mutilated Bond shall be surrendered. Upon the issuance of any replacement new Bond under this Section 4.03Section, the Issuer or the Bond Registrar may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture TrusteeTrustee or the Bond Registrar) connected therewith. Every replacement new Bond issued pursuant to this Section 4.03 in replacement lieu of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 1 contract

Samples: Aames Capital Acceptance Corp

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture TrusteeRegistrar, or the Indenture Trustee Registrar receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Registrar and the Trustee such security security, indemnity or indemnity bond as may be required by it them to hold the Issuer and the Indenture Trustee save each of them harmless, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide protected purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, the Issuer shall executeexecute and, and upon its request request, the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement BondBond of like Class, tenor and principal amount, bearing a number not contemporaneously outstanding; PROVIDEDprovided, HOWEVERhowever, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, or shall have been called for redemption, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable or upon the Optional Redemption Date or Mandatory Redemption Date, as applicable, without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide protected purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide protected purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03Section, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture TrusteeTrustee and the Registrar) connected therewith. Any duplicate Bond issued pursuant to this Section 2.06 shall constitute conclusive evidence of the same interest in the Issuer, as if originally issued, whether or not the lost, stolen or destroyed Bond shall be found at any time. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds of the same Class duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 1 contract

Samples: PSNH Funding LLC 2

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any Bond shall become mutilated, the Authority shall execute and the Trustee shall thereupon authenticate and deliver a new Bond of like tenor and denomination in exchange and substitution for the Bond so mutilated Bond is surrendered but only upon surrender to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bondsuch mutilated Bonds for cancellation, and (ii) there is delivered the Authority and the Trustee may require reasonable indemnity therefor, which indemnity shall, in any event, name the Tender Agent as a beneficiary. If any Bond shall be reported lost, stolen or destroyed, evidence as to the Indenture Trustee such security or indemnity as may be required by it to hold the Issuer ownership and the Indenture Trustee harmlessloss, thentheft or destruction thereof shall be submitted to the Authority and the Trustee; and if such evidence shall be satisfactory to both and indemnity satisfactory to both shall be given, which indemnity shall, in any event, name the absence of notice to the IssuerTender Agent as a beneficiary, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, the Issuer Authority shall execute, and upon its request thereupon the Indenture Trustee shall authenticate and deliver, in exchange a new Bond of like tenor and denomination. The cost of providing any substitute Bond under the provisions of this Section shall be borne by the Owner of the Bond for or in lieu of whose benefit such substitute Bond is provided. If any such mutilated, destroyedlost, lost stolen or stolen Bond, a replacement Bond; PROVIDED, HOWEVER, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, destroyed Bond shall have become or within seven days shall be due and payable, instead of issuing a replacement Bondmatured, the Issuer may Authority may, with the consent of the Trustee, pay such destroyed, lost or stolen Bond when so due or payable without surrender thereof. If, after to the delivery Owner the principal amount of such replacement Bond or payment of a destroyedand compliance with the aforesaid conditions by such Owner, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer or the Indenture Trustee in connection therewith. Upon without the issuance of any replacement a substitute Bond under this Section 4.03, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewiththerefor. Every replacement substituted Bond issued pursuant to this Section 4.03 in replacement 2.09 shall constitute an additional contractual obligation of any mutilatedthe Authority, whether or not the Bond alleged to have been destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall may be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The All Bonds shall be held and owned upon the express condition that the foregoing provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds, and shall preclude any and all other rights or remedies, notwithstanding any law or statute existing or hereafter enacted to the contrary with respect to the replacement or payment of negotiable instruments, investments or other securities without their surrender.

Appears in 1 contract

Samples: Indenture (Sterigenics International)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) in case of destruction, loss, or theft, there is delivered to the Indenture Trustee such security or indemnity as may be reasonably required by it to hold the Issuer and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide protected purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, the Issuer shall executeexecute and, and upon its request request, the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement BondBond of like Class, tenor and principal amount, bearing a number not contemporaneously outstanding; PROVIDEDprovided, HOWEVERhowever, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven (7) days shall be due and payable, or shall have been called for redemption, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable or upon the Redemption Date, without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide protected purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide protected purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03Section, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 1 contract

Samples: Indenture (PG&E Energy Recovery Funding LLC)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i1) any mutilated Bond is surrendered to the Indenture Trustee, Bond Registrar or the Indenture Trustee Bond Registrar receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii2) there is delivered to the Indenture Trustee Bond Registrar such security or indemnity as may be required by it the Bond Registrar to hold save each of the Issuer Issuer, the Bond Insurer and the Indenture Trustee Bond Registrar harmless, then, in the absence of notice to the Issuer, Issuer or the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, the Issuer Owner Trustee shall execute, execute and upon its request the Indenture Trustee Bond Registrar shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDED, HOWEVER, that if any such destroyed, lost new Bond or stolen Bond, but Bonds of the same tenor and aggregate initial principal amount bearing a number not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereofcontemporaneously outstanding. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentencenew Bond, a bona fide purchaser of the original Bond in lieu of which such replacement new Bond was issued presents for payment such original Bond, the Issuer and the Indenture Trustee Bond Registrar shall be entitled to recover such replacement new Bond (or such payment) from the Person person to whom it was delivered or any Person person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Persontherefrom, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense expenses incurred by the Issuer or the Indenture Trustee Bond Registrar in connection therewith. If any such mutilated, destroyed, lost or stolen Bond shall have become or shall be about to become due and payable, or shall have become subject to redemption in full, instead of issuing a new Bond, the Issuer may pay such Bond without surrender thereof, except that any mutilated Bond shall be surrendered. Upon the issuance of any replacement new Bond under this Section 4.03Section, the Issuer or the Bond Registrar may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture TrusteeTrustee or the Bond Registrar) connected therewith. Every replacement new Bond issued pursuant to this Section 4.03 in replacement lieu of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 1 contract

Samples: Indenture (Fund America Investors Corp Ii)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i1) any mutilated Bond is surrendered to the Indenture Trustee, Trustee or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, Bond and (ii2) there is delivered to the Indenture Trustee such security or indemnity as may be required by it the Trustee to hold save the Issuer and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Bond Registrar Issuer or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, the Issuer shall execute, execute and upon its written request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDEDnew Bond or Bonds of the same tenor, HOWEVER, that if any such destroyed, lost or stolen Bond, but aggregate initial principal amount and Class bearing a number not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereofcontemporaneously outstanding. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentencenew Bond, a bona fide purchaser of the original Bond in lieu of which such replacement new Bond was issued presents for payment such original Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement new Bond (or such payment) from the Person person to whom it was delivered or any Person person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Persontherefrom, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense expenses incurred by the Issuer or the Indenture Trustee in connection therewith. If any such mutilated, destroyed, lost or stolen Bond shall have become or shall be about to become due and payable, or shall have become subject to redemption in full, instead of issuing a new Bond, the Issuer may pay such Bond without surrender thereof, except that any mutilated Bond shall be surrendered. Upon the issuance of any replacement new Bond under this Section 4.03Section, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement new Bond issued pursuant to this Section 4.03 in replacement lieu of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 1 contract

Samples: Indenture (Sequoia Mortgage Funding Corp)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i1) any mutilated Bond is surrendered to the Indenture Trustee, Trustee or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii2) there is delivered to the Indenture Trustee such security or indemnity as may be required by it to hold save each of the Issuer and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Bond Registrar Issuer or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, the Issuer shall execute, execute and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bondnew Bond or Bonds of the same Series, tenor, aggregate initial principal amount and Class bearing a number not contemporaneously outstanding; PROVIDEDprovided, HOWEVERhowever, that if any such mutilated, destroyed, lost or stolen Bond, but not a mutilated Bond, Bond shall have become or within seven days shall be about to become due and payable, or shall have become subject to redemption in full, instead of issuing a replacement new Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereof, except that any mutilated Bond shall be surrendered. If, after the delivery of such replacement new Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement new Bond was issued presents for payment such original Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement new Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement new Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense expenses incurred by the Issuer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement new Bond under this Section 4.03Section, the Issuer or the Bond Registrar may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture TrusteeTrustee or Bond Registrar) connected therewith. Every replacement new Bond issued pursuant to this Section 4.03 in replacement lieu of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 1 contract

Samples: CMC Securities Corp Iv

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be required by it to hold the Issuer and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, then the Issuer shall executeexecute and, and upon its request written request, the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement BondBond of like Series (and, if applicable, Class), tenor and principal amount, bearing a number not contemporaneously outstanding; PROVIDEDprovided, HOWEVERhowever, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, or shall have been called for redemption, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable or upon the Optional Redemption Date without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, Person and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03Section, the Issuer and/or the Indenture Trustee may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be found at any time enforceable or enforced by anyoneany Person, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 1 contract

Samples: Transition Property Servicing Agreement (Oncor Electric Delivery Transition Bond Co LLC)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be required by it to hold the Issuer Issuing Entity and the Indenture Trustee harmless, then, in the absence of notice to the IssuerIssuing Entity, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 8-405 of the UCC are met, the Issuer Issuing Entity shall execute, and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement BondBond of the same Class; PROVIDEDprovided, HOWEVERhowever, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer Issuing Entity may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer Issuing Entity and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer Issuing Entity or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03, the Issuer Issuing Entity may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement Bond Xxxx issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the IssuerIssuing Entity, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 1 contract

Samples: Indenture (Imh Assets Corp)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i1) any mutilated Bond is surrendered to the Indenture Trustee, Bond Registrar or the Indenture Trustee receives Issuer, the Bond Registrar receive evidence to its their satisfaction of the destruction, loss or theft of any Bond, and (ii2) there is delivered to the Indenture Issuer, the Trustee and the Bond Registrar such security or indemnity as may be required by it them to hold the Issuer and the Indenture Trustee save each of them harmless, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, the Issuer shall execute, execute and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bondnew Bond of the same Series, tenor, principal amount and Class bearing a number not contemporaneously outstanding; PROVIDEDprovided, HOWEVERhowever, that if any such mutilated, destroyed, lost or stolen Bond, but not a mutilated Bond, Bond shall have become or within seven days shall be about to become due and payable, or shall have been subject to Redemption or Special Redemption in full, instead of issuing a replacement new Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereof, except that any mutilated Bond shall be surrendered. If, after the delivery of such replacement new Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement new Bond was issued presents for payment such original Bond, the Issuer and the Indenture Trustee Bond Registrar shall be entitled to recover such replacement new Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement new Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense expenses incurred by the Issuer or the Indenture Trustee Bond Registrar in connection therewith. Upon the issuance of any replacement new Bond under this Section 4.03Section, the Issuer Issuer, the Trustee or the Bond Registrar may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement new Bond issued pursuant to this Section 4.03 in replacement lieu of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this the Indenture equally and proportionately with any and all other Bonds of the same Series and Class duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen BondsBonds except with respect to certificates of Bonds cancelled by the Trustee pursuant to Section 10.02(c).

Appears in 1 contract

Samples: Letter Agreement (Fund America Investors Corp Ii)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Issuer or the Indenture Trustee, or the Issuer and the Indenture Trustee receives receive evidence to its their satisfaction of the destruction (including mutilation tantamount to destruction), loss or theft of any BondBond and the ownership thereof, and (ii) there is delivered to the Issuer and the Indenture Trustee such security or indemnity as may be reasonably required by it them to hold the Issuer each of them and the Indenture Trustee any agent of any of them harmless, then, in the absence of notice to the Issuer, the Bond Registrar Issuer or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, the Issuer shall execute, execute and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDEDnew Bond of like Class, HOWEVERtenor and denomination registered in the same manner, that if any such destroyed, lost or stolen Bond, but dated the date of its authentication and bearing a number not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereofcontemporaneously outstanding. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentencenew Bond, a bona fide purchaser of the original Predecessor Bond in lieu of which such replacement Bond was issued presents for payment or transfer such original Predecessor Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement new Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Persontherefrom, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense expenses incurred by the Issuer or the Indenture Trustee in connection therewith. If any such mutilated, destroyed, lost or stolen Bond shall have become, or within seven days shall be, due and payable, or shall have been selected or called for redemption, instead of issuing a new Bond, the Issuer may pay such Bond when so due or payable or upon the Redemption Date or Special Redemption Date without surrender thereof, except that any mutilated Bond shall be surrendered. Upon the issuance of any replacement new Bond under this Section 4.032.06, the Issuer Issuer, the Indenture Trustee or any other Bond Registrar may require the payment by the Holder of such Bond of a sum an amount sufficient to cover pay or discharge any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the reasonable fees and expenses of the Indenture TrusteeAuthenticating Agent and the Bond Registrar) connected in connection therewith. Every replacement new Bond issued pursuant to this Section 4.03 2.06 in replacement lieu of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyoneany Person, and such new Bond shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds of the same Class duly issued hereunder. The provisions of this Section 4.03 2.06 are exclusive and shall preclude (to the extent lawfulpermitted by applicable law) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 1 contract

Samples: Imperial Credit Commercial Mortgage Acceptance Corp

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be required by it to hold the Issuer and the Indenture Trustee harmless, then, in the absence of written notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements a Manager on behalf of Section 8- 405 of the UCC are met, the Issuer shall execute, and upon its a Manager’s written request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement BondBond of like Xxxxxxx, tenor and initial principal amount in Authorized Denominations, bearing a number not contemporaneously outstanding; PROVIDEDprovided, HOWEVERhowever, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, or shall have been called for redemption, instead of issuing a replacement BondXxxx, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable or upon the Redemption Date without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement Bond was issued issued, or in respect of which such payment was made, presents for payment such original Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03Section, the Issuer or the Trustee may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture TrusteeTrustee and its counsel) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 1 contract

Samples: CenterPoint Energy Restoration Bond Company, LLC

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be required by it to hold the Issuer and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 8-405 of the UCC are met, the Issuer shall execute, and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDEDprovided, HOWEVERhowever, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond Xxxx when so due or payable without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 1 contract

Samples: Imh Assets Corp

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture TrusteeRegistrar, or the Indenture Trustee Registrar receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Registrar and the Trustee such security security, indemnity or indemnity bond as may be required by it them to hold the Issuer and the Indenture Trustee save each of them harmless, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide protected purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, the Issuer shall executeexecute and, and upon its request request, the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement BondBond of like Class, tenor and principal amount, bearing a number not contemporaneously outstanding; PROVIDEDprovided, HOWEVERhowever, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, or shall have been called for redemption, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable or upon the Optional Redemption Date or Mandatory Redemption Date, as applicable, without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide protected purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide protected purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03Section, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture TrusteeTrustee and the Registrar) connected therewith. Every replacement Any duplicate Bond issued pursuant to this Section 4.03 in replacement Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Registrar, or the Registrar receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Registrar and the Trustee such security, indemnity or bond as may be required by them to save each of them harmless, then, in the absence of notice to the Issuer, the Registrar or the Trustee that such Bond has been acquired by a protected purchaser, the Issuer shall execute and, upon its request, the Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond of like Class, tenor and principal amount, bearing a number not contemporaneously outstanding; provided, however, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall constitute an original additional contractual obligation have become or within seven days shall be due and payable, or shall have been called for redemption, instead of issuing a replacement Bond, the Issuer, whether or not the mutilated, Issuer may pay such destroyed, lost or stolen Bond when so due or payable or upon the Optional Redemption Date or Mandatory Redemption Date, as applicable, without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a protected purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer and the Trustee shall be at entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any time enforceable by anyonePerson taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a protected purchaser, and shall be entitled to all recover upon the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (security or indemnity provided therefor to the extent lawful) all other rights and remedies with respect to of any loss, damage, cost or expense incurred by the replacement Issuer or payment the Trustee in connection therewith. shall constitute conclusive evidence of mutilatedthe same interest in the Issuer, destroyedas if originally issued, lost whether or not the lost, stolen Bondsor destroyed Bond shall be found at any time.

Appears in 1 contract

Samples: PSNH Funding LLC

Mutilated, Destroyed, Lost or Stolen Bonds. If (i1) any mutilated Bond is surrendered to the Indenture Trustee, Trustee or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, Bond and (ii2) there is delivered to the Indenture Trustee such security or indemnity as may be required by it the Trustee and MBIA to hold save the Issuer and MBIA and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Bond Registrar Issuer or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, the Issuer shall execute, execute and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDEDnew Bond or Bonds of the same tenor, HOWEVER, that if any such destroyed, lost or stolen Bond, but aggregate initial principal amount and Class bearing a number not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereofcontemporaneously outstanding. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentencenew Bond, a bona fide purchaser of the original Bond in lieu of which such replacement new Bond was issued presents for payment such original Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement new Bond (or such payment) from the Person person to whom it was delivered or any Person person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Persontherefrom, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the II-8 44 extent of any loss, damage, cost or expense expenses incurred by the Issuer or the Indenture Trustee in connection therewith. If any such mutilated, destroyed, lost or stolen Bond shall have become or shall be about to become due and payable, or shall have become subject to redemption in full, instead of issuing a new Bond, the Issuer may pay such Bond without surrender thereof, except that any mutilated Bond shall be surrendered. Upon the issuance of any replacement new Bond under this Section 4.03Section, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement new Bond issued pursuant to this Section 4.03 in replacement lieu of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 1 contract

Samples: Sequoia Mortgage Funding Corp

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be required by it to hold the Issuer Issuing Entity and the Indenture Trustee harmless, then, in the absence of notice to the IssuerIssuing Entity, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 8-405 of the UCC are met, the Issuer Issuing Entity shall execute, and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement BondBond of the same Class; PROVIDEDprovided, HOWEVERhowever, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer Issuing Entity may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer Issuing Entity and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer Issuing Entity or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03, the Issuer Issuing Entity may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilatedmutilaxxx, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the IssuerIssuing Entity, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 1 contract

Samples: Imh Assets Corp

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture TrusteeBond Registrar, or the Owner Trustee on behalf of the Issuer shall execute and the Indenture Trustee receives shall authenticate and deliver, in exchange therefor, a new Bond of the same Class and principal amount and bearing a number not contemporaneously outstanding. If there shall be delivered to the Issuer, the Indenture Trustee and the Bond Registrar (i) evidence to its their satisfaction of the destruction (including mutilation tantamount to destruction), loss or theft of any BondBond and the ownership thereof, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be reasonably required by it them to hold the Issuer each of them, and the Indenture Trustee any agent of any of them harmless, then, in the absence of notice to the Issuer, Issuer or the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements Owner Trustee on behalf of Section 8- 405 of the UCC are met, the Issuer shall execute, execute and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDED, HOWEVER, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen new Bond when so due or payable without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond same Class, tenor and denomination registered in lieu the same manner, dated the date of which such replacement Bond was issued presents for payment such original Bond, the Issuer its authentication and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except bearing a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer or the Indenture Trustee in connection therewithnumber not contemporaneously outstanding. Upon the issuance of any replacement new Bond under this Section 4.032.06, the Issuer Owner Trustee, Indenture Trustee and the Bond Registrar may require the payment by the Holder Bondholder of such Bond of a sum an amount sufficient to cover pay or discharge any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the reasonable fees and expenses of the Authenticating Agent and the Indenture Trustee) connected in connection therewith. Every replacement new Bond issued pursuant to this Section 4.03 2.06 in replacement lieu of any destroyed, mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the destroyed, mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyoneany Person, and such new Bond shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds of its Class duly issued hereunder. The provisions of this Section 4.03 2.06 are exclusive and shall preclude (to the extent lawfulpermitted by applicable law) all other rights and remedies with respect to the replacement or payment of mutilated, destroyedde stroyed, lost or stolen Bonds.

Appears in 1 contract

Samples: Indenture (Imh Assets Corp Impac CMB Trust 1998 C1 Col Mor Bond 1998 C1)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction satis- faction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be required by it to hold the Issuer Issuer, the Bond Insurer and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 8-405 of the UCC are met, the Issuer shall execute, and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDEDprovided, HOWEVERhowever, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen xx xtolen Bond when so due or payable without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer Issuer, the Bond Insurer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer Issuer, the Bond Insurer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunderhere- under. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyeddestroy- ed, lost or stolen Bonds.

Appears in 1 contract

Samples: Servicing Agreement (Novastar Mortgage Funding Corp)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Issuer or the Indenture Trustee, or the Issuer and the Indenture Trustee receives receive evidence to its their satisfaction of the destruction (including mutilation tantamount to destruction), loss or theft of any BondBond and the ownership thereof, and (ii) there is delivered to the Issuer and the Indenture Trustee such security or indemnity as may be reasonably required by it them to hold the Issuer each of them and the Indenture Trustee any agent of any of them harmless, then, in the absence of notice to the Issuer, the Bond Registrar Issuer or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, the Issuer shall execute, execute and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDEDnew Bond of like Class, HOWEVERtenor and denomination registered in the same manner, that if any such destroyed, lost or stolen Bond, but dated the date of its authentication and bearing a number not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereofcontemporaneously Outstanding. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentencenew Bond, a bona fide purchaser of the original Predecessor Bond in lieu of which such replacement Bond was issued presents for payment or transfer such original Predecessor Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement new Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Persontherefrom, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense expenses incurred by the Issuer or the Indenture Trustee in connection therewith. If any such mutilated, destroyed, lost or stolen Bond shall have become, or within seven days shall be, due and payable, or shall have been selected or called for redemption, instead of issuing a new Bond, the Issuer may pay such Bond when so due or payable or upon the Redemption Date without surrender thereof, except that any mutilated Bond shall be surrendered. Upon the issuance of any replacement new Bond under this Section 4.032.06, the Issuer Issuer, the Indenture Trustee or any other Bond Registrar may require the payment by the Holder of such Bond of a sum an amount sufficient to cover pay or discharge any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the reasonable fees and expenses of the Indenture TrusteeAuthenticating Agent and the Bond Registrar) connected in connection therewith. Every replacement new Bond issued pursuant to this Section 4.03 2.06 in replacement lieu of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyoneany Person, and such new Bond shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds of the same Class duly issued hereunder. The provisions of this Section 4.03 2.06 are exclusive and shall preclude (to the extent lawfulpermitted by applicable Law) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 1 contract

Samples: Indenture (Collateralized Mortgage Bonds Series 1999 1)

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Mutilated, Destroyed, Lost or Stolen Bonds. (a) If (i) any Bond shall become mutilated, the Issuer shall execute, and the Bond Trustee shall authenticate and deliver, a new Bond of like tenor, maturity and denomination in exchange and substitution for the Bond so mutilated, but only upon surrender to the Bond Trustee of such mutilated Bond is surrendered for cancellation, and the Issuer or the Bond Trustee may require indemnity therefor. If any Bond shall be reported lost, stolen or destroyed, evidence as to the Indenture Trusteeownership and the loss, theft or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered destruction thereof shall be submitted to the Indenture Bond Trustee. If such evidence shall be satisfactory to both the Bond Trustee such security or indemnity as may be required by it to hold and the Issuer and indemnity satisfactory to both shall be given, the Indenture Issuer shall execute, and thereupon the Bond Trustee harmlessshall authenticate and deliver, thena new Bond of like tenor, in the absence of notice to maturity and denomination; provided that neither the Issuer, the Registrar nor the Bond Registrar or the Indenture Trustee has notice that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, the Issuer shall execute, and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDED, HOWEVER, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentencenew Bond, a bona fide purchaser of the original Bond in lieu of which such replacement new Bond was issued presents for payment such original Bond, the Issuer and the Indenture Bond Trustee shall be entitled to recover such replacement new Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Persontherefrom, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense expenses incurred by the Issuer or the Indenture Bond Trustee in connection therewith. Upon the issuance The cost of providing any replacement substitute Bond under the provisions of this Section 4.032.10 shall be borne by the Holder for whose benefit such substitute Bond is provided. If any such mutilated, lost, stolen or destroyed Bond shall have matured or be about to mature, the Issuer may require the payment by pay to the Holder thereof the principal amount of such Bond upon the maturity thereof and compliance with the aforesaid conditions by such Holder, without the issuance of a sum sufficient substitute Bond therefor, and likewise pay to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses Holder the amount of the Indenture Trustee) connected therewith. Every replacement unpaid interest, if any, which would have been paid on a substitute Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bondshad one been issued.

Appears in 1 contract

Samples: Trust Indenture (Louisiana Generating LLC)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be required by it to hold the Issuer Issuer, the Bond Insurer and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 8-405 of the UCC are met, the Issuer shall execute, and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDED, HOWEVER, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond Xxxx when so due or payable without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer Issuer, the Bond Insurer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer Issuer, the Bond Insurer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 1 contract

Samples: Servicing Agreement (Imh Assets Corp Impac CMB Trust Series 2003-4)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be required by it to hold the Issuer Issuer, the Bond Insurer and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 8-405 of the UCC are met, the Issuer shall execute, and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDEDprovided, HOWEVERhowever, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without payablx xxthout surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer Issuer, the Bond Insurer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer Issuer, the Bond Insurer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 1 contract

Samples: Servicing Agreement (Imh Assets Corp Ipac CMB Trust Series 2003-1)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be required by it to hold the Issuer Issuer, the Bond Insurer and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 8-405 of the UCC are met, the Issuer shall execute, and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDEDprovided, HOWEVERhowever, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereof. If, after the delivery delivxxx of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer Issuer, the Bond Insurer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer Issuer, the Bond Insurer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 1 contract

Samples: Servicing Agreement (Imh Assets Corp)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture TrusteeRegistrar, or the Indenture Trustee Registrar receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Registrar and the Trustee such security security, indemnity or indemnity bond as may be required by it them to hold the Issuer and the Indenture Trustee save each of them harmless, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide protected purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, the Issuer shall executeexecute and, and upon its request request, the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement BondBond of like Class, tenor and principal amount, bearing a number not contemporaneously outstanding; PROVIDED, HOWEVER, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, or shall have been called for redemption, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable or upon the Optional Redemption Date or Mandatory Redemption Date, as applicable, without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide protected purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide protected purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03Section, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture TrusteeTrustee and the Registrar) connected therewith. Every replacement Any duplicate Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond 2.06 shall constitute an original additional contractual obligation conclusive evidence of the same interest in the Issuer, as if originally issued, whether or not the mutilatedlost, destroyed, lost stolen or stolen destroyed Bond shall be found at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bondstime.

Appears in 1 contract

Samples: PSNH Funding LLC

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be required by it to hold the Issuer and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 405 of the UCC are metshall become mutilated, the Issuer shall execute, and the Authenticating Agent shall thereupon authenticate and deliver, a new Bond of like tenor and denomination in exchange and substitution for the Bond so mutilated, but only upon its request surrender to the Indenture Authenticating Agent of such mutilated Bond for cancellation, and the Issuer, the Company, the Authenticating Agent and the Trustee may require reasonable indemnity therefor. If any Bond shall be reported lost, stolen or destroyed, evidence as to the ownership thereof and the loss, theft or destruction thereof shall be submitted to the Authenticating Agent; and if such evidence shall be satisfactory to the Issuer, the Company and the Trustee and indemnity satisfactory to them shall be given, the Issuer shall execute, and thereupon the Authenticating Agent shall authenticate and deliver, in exchange a new Bond of like tenor and denomination bearing the same number as the original Bond but carrying such additional marking as will enable the Authenticating Agent to identify such Bond as a replacement Bond. The cost of providing any replacement Bond under the provisions of this Section shall be borne by the Bondholder for or in lieu of whose benefit such replacement Bond is provided. If any such mutilated, destroyedlost, lost stolen or stolen Bond, a replacement Bond; PROVIDED, HOWEVER, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, destroyed Bond shall have become matured or within seven days shall be due and payable, instead of issuing a replacement Bondabout to mature, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to owner the preceding sentence, a bona fide purchaser of principal amount xx xuch Bond upon the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer maturity thereof and the Indenture Trustee shall be entitled to recover compliance with the aforesaid conditions by such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Personowner, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer or the Indenture Trustee in connection therewith. Upon without the issuance of any replacement a substitute Bond under this Section 4.03, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewiththerefor. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond 2.09 shall constitute an original additional addixxxxal contractual obligation of the Issuer, whether or not the mutilated, Bond alleged to have been destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The All Bonds shall be owned upon the express condition that the foregoing provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds, and shall preclude any and all other rights or remedies notwithstanding any law or statute existing or hereafter enacted to the contrary.

Appears in 1 contract

Samples: Trust Indenture (Jersey Central Power & Light Co)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) In the event any Bond or temporary Bond is mutilated, lost, stolen or destroyed, the Trustee may authenticate a new Bond duly executed by the Issuer of like date and denomination as that mutilated, lost, stolen or destroyed; provided that, in the case of any mutilated Bond, such mutilated Bond is shall first be surrendered to the Indenture Trustee, or and in the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft case of any lost, stolen or destroyed Bond, and (ii) there is delivered shall be first furnished to the Indenture Trustee evidence of such security loss, theft or destruction satisfactory to the Trustee, together with indemnity as may be required by it to hold the Issuer and the Indenture Trustee harmless, then, in satisfactory to them. In the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that event any such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, the Issuer shall execute, and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDED, HOWEVER, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payablematured, instead of issuing a replacement duplicate Bond, the Trustee on behalf of the Issuer may pay such destroyed, lost or stolen Bond when so due or payable the same without surrender thereof. The Issuer and the Trustee may charge the Owner of such Bond with their reasonable fees and expenses in this connection. The Issuer shall cooperate with the Trustee in connection with the issue of replacement Bonds, but nothing in this Section shall be construed in derogation of any rights which the Issuer, the Borrower or the Trustee may have to receive indemnification against liability, or payment or reimbursement of expenses, in connection with the issue of a replacement Bond. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentencenew Bond, a bona fide purchaser of the original Bond in lieu of which such replacement new Bond was issued presents for payment or registration such original Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement new Bond (or such payment) from the Person person to whom it was delivered or any Person person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Persontherefrom, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer Trustee or the Indenture Trustee Issuer in connection therewith. Upon the issuance of any replacement Each duplicate Bond under delivered in accordance with this Section 4.03Section, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilatedexcept as otherwise provided herein, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, Issuer and shall be entitled to all the benefits benefit and security of this Indenture equally to the same extent as the Bond in lieu of which such duplicate Bond was delivered. All Bonds shall be held and proportionately with any and all other Bonds duly issued hereunder. The owned upon the express condition that the foregoing provisions of this Section 4.03 are exclusive and shall preclude (are, to the extent lawful) all other rights and remedies permitted by law, exclusive with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds, and shall preclude any and all other rights or remedies. 27 Section 2.09.

Appears in 1 contract

Samples: Southwest Gas Corp

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be required by it to hold the Issuer Issuer, the Bond Insurer and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 8-405 of the UCC are met, the Issuer shall execute, and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDED, HOWEVER, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer Issuer, the Bond Insurer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer Issuer, the Bond Insurer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 1 contract

Samples: Indenture (Imh Assets Corp)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be reasonably required by it to hold the Issuer and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 8-405 of the UCC are met, the Issuer shall execute, and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement BondBond of the same Class; PROVIDEDprovided, HOWEVERhowever, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, or shall have been called for redemption, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable or upon the Redemption Date without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.the

Appears in 1 contract

Samples: Allied Capital Corp

Mutilated, Destroyed, Lost or Stolen Bonds. (a) If (i) any mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be required by it to hold the Issuer and the Indenture Trustee harmlessharmless and (iii) the requirements of Section 8-405 of the Delaware UCC are met, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaserProtected Purchaser, and provided that the requirements a Manager on behalf of Section 8- 405 of the UCC are met, the Issuer shall execute, and upon its a Manager's request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement BondBond of like Tranche, tenor and initial principal amount in Authorized Denominations, bearing a number not contemporaneously outstanding; PROVIDED, HOWEVERprovided, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser Protected Purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaserProtected Purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trusteeb) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 2.06 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. As a condition to the issuance of any replacement Bond under this Section 2.06, the Issuer and/or the Trustee may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Trustee) in connected therewith. (c) The provisions of this Section 4.03 2.06 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.. 9 <PAGE> Section 2.07

Appears in 1 contract

Samples: www.sec.gov

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be required by it to hold the Issuer Issuer, the Bond Insurer and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 8-405 of the UCC are met, the Issuer shall execute, and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDEDprovided, HOWEVERhowever, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender xxxxender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer Issuer, the Bond Insurer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer Issuer, the Bond Insurer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 1 contract

Samples: Servicing Agreement (IMPAC CMB Trust Series 2004-10)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i1) any mutilated Bond is surrendered to the Indenture Trustee, Bond Registrar or the Indenture Trustee Bond Registrar receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii2) there is delivered to the Indenture Trustee Bond Registrar such security or indemnity as may be required by it the Bond Registrar to hold save each of the Issuer Issuer, the Bond Insurer and the Indenture Trustee Bond Registrar harmless, then, in the absence of notice to the Issuer, Issuer or the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements Owner Trustee on behalf of Section 8- 405 of the UCC are met, the Issuer shall execute, execute and upon its request the Indenture Trustee Authenticating Agent shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDED, HOWEVER, that if any such destroyed, lost new Bond or stolen Bond, but Bonds of the same tenor and aggregate initial principal amount bearing a number not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereofcontemporaneously outstanding. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentencenew Bond, a bona fide purchaser of the original Bond in lieu of which such replacement new Bond was issued presents for payment such original Bond, the Issuer and the Indenture Trustee Bond Registrar shall be entitled to recover such replacement new Bond (or such payment) from the Person person to whom it was delivered or any Person person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Persontherefrom, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor PROVIDED THEREFOR to the extent of any loss, damage, cost or expense expenses incurred by the Issuer or the Indenture Trustee Bond Registrar in connection therewith. If any such mutilated, destroyed, lost or stolen Bond shall have become or shall be about to become due and payable, or shall have become subject to redemption in full, instead of issuing a new Bond, the Issuer may pay such Bond without surrender thereof, except that any mutilated Bond shall be surrendered. Upon the issuance of any replacement new Bond under this Section 4.03Section, the Issuer or the Bond Registrar may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture TrusteeTrustee or the Bond Registrar) connected therewith. Every replacement new Bond issued pursuant to this Section 4.03 in replacement lieu of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 1 contract

Samples: Indenture (American Residential Eagle Bond Trust 1992-2)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any --------------------------------------------- mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be required by it to hold the Issuer Issuer, the Bond Insurer and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 8-405 of the UCC are met, the Issuer shall execute, and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDEDprovided, HOWEVERhowever, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender xxxrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer Issuer, the Bond Insurer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer Issuer, the Bond Insurer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 1 contract

Samples: Servicing Agreement (Imh Assets Corp)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be required by it to hold the Issuer Issuer, the Bond Insurer and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 8-405 of the UCC are met, the Issuer shall execute, and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDEDprovided, HOWEVERhowever, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without payabxx xithout surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer Issuer, the Bond Insurer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 1 contract

Samples: Indenture (Imh Assets Corp)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture TrusteeBond Registrar, or the Indenture Trustee Bond Registrar, receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Trustee Bond Registrar, such security or indemnity as may be required by it to hold the Issuer Issuer, the Bond Insurer, the Bond Administrator and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Bond Registrar Registrar, the Bond Administrator or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 8-405 of the UCC are met, the Issuer shall executeexecute and, and upon its request request, the Indenture Trustee Bond Registrar shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDEDprovided, HOWEVERhowever, that if -------- ------- any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer Issuer, the Bond Insurer, the Bond Administrator and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer Issuer, the Bond Insurer, the Bond Administrator or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Bond Administrator and the Indenture Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 1 contract

Samples: Servicing Agreement (Novastar Mortgage Funding Corp)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond Xxxx is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) in case of destruction, loss, or theft, there is delivered to the Indenture Trustee such security or indemnity as may be reasonably required by it to hold the Issuer and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide protected purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, the Issuer shall executeexecute and, and upon its request request, the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement BondBond of like Class, tenor and principal amount, bearing a number not contemporaneously outstanding; PROVIDEDprovided, HOWEVERhowever, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven (7) days shall be due and payable, or shall have been called for redemption, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable or upon the Redemption Date, without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide protected purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide protected purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03Section, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 1 contract

Samples: Indenture (PG&E Energy Recovery Funding LLC)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture TrusteeBond Registrar, or the Indenture Trustee Bond Registrar receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Trustee and the Insurer such security or indemnity as may be required by it to hold the Issuer and Issuer, the Indenture Trustee and the Insurer harmless, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 8-405 of the UCC are met, the Issuer shall execute, execute and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement BondBond (such requirement shall not be deemed to create a duty in the Indenture Trustee to monitor the compliance by the Issuer with Section 8-405); PROVIDEDprovided, HOWEVERhowever, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, or shall have been called for redemption, the Issuer may, instead of issuing a replacement Bond, direct the Issuer may Indenture Trustee, in writing, to pay such destroyed, lost or stolen Bond when so due or payable or upon the Redemption Date without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer and Issuer, the Indenture Trustee and the Insurer shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer or Issuer, the Indenture Trustee or the Insurer in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03Section, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 1 contract

Samples: Sequoia Residential Funding Inc

Mutilated, Destroyed, Lost or Stolen Bonds. (a) If (i1) any mutilated Bond is surrendered to the Indenture Trustee, Trustee or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii2) there is delivered to the Indenture Trustee such security or indemnity as may be required by it the Issuer and the Indenture Trustee to hold save each of the Issuer and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Bond Registrar Issuer or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, the Issuer shall execute, execute and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDED, HOWEVER, that if any such destroyed, lost new Bond or stolen Bond, but Bonds of the same tenor and aggregate initial principal amount bearing a number not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereofcontemporaneously outstanding. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentencenew Bond, a bona fide purchaser of the original Bond in lieu of which such replacement new Bond was issued presents for payment such original Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement new Bond (or such payment) from the Person person to whom it was delivered or any Person person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Persontherefrom, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity indemnity, provided therefor to the extent of any loss, damage, cost or expense expenses incurred by the Issuer or the Indenture Trustee in connection therewith. Upon the issuance of If any replacement Bond under this Section 4.03, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation have become or shall be about to become due and payable, instead of issuing a new Bond, the IssuerIssuer may pay such Bond without surrender thereof, whether or not the mutilated, destroyed, lost or stolen except that any mutilated Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bondssurrendered.

Appears in 1 contract

Samples: Indenture (Equity Inns Inc)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i1) any mutilated Bond is surrendered to the Indenture Trustee, Trustee or the Indenture Bond Registrar or the Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond, Bond and (ii2) there is delivered to the Indenture Trustee and the Bond Registrar such security or indemnity as may be required by it the Bond Registrar to hold save the Issuer Issuer, the Trustee and the Indenture Trustee Bond Registrar harmless, then, in the absence of notice to the Issuer, the Trustee or the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide protected purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, the Issuer shall execute, execute and upon its written request the Indenture Trustee Authenticating Agent shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDEDnew Bond or Bonds of the same tenor, HOWEVER, that if any such destroyed, lost or stolen Bond, but aggregate initial principal amount and Class bearing a number not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereofcontemporaneously outstanding. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentencenew Bond, a bona fide protected purchaser of the original Bond in lieu of which such replacement new Bond was issued presents for payment such original Bond, the Issuer and the Indenture Trustee or any Agent shall be entitled to recover such replacement new Bond (or such payment) from the Person person to whom it was delivered or any Person person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Persontherefrom, except a bona fide protected purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense expenses incurred by the Issuer Issuer, the Trustee, or the Indenture Trustee any Agent in connection therewith. If any such mutilated, destroyed, lost or stolen Bond shall have become or shall be about to become due and payable, or shall have become subject to redemption in full, instead of issuing a new Bond, the Issuer may pay such Bond without surrender thereof, except that any mutilated Bond shall be surrendered. Upon the issuance of any replacement new Bond under this Section 4.03Section, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture TrusteeTrustee or any Agent) connected therewith. Every replacement new Bond issued pursuant to this Section 4.03 in replacement lieu of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 1 contract

Samples: Indenture (Sequoia Mortgage Funding Corp)

Mutilated, Destroyed, Lost or Stolen Bonds. If If: (ia) any mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its reasonable satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be required by it to hold the Issuer Issuer, the Transfer Agent and Registrar and the Indenture Trustee harmless; or (b) any mutilated Bond is surrendered to the Indenture Trustee, then, in the absence of notice to the Issuer, the Bond Registrar Transfer Agent and Registrar, or the Indenture Trustee that such the Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, the Issuer shall execute, and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDEDBond of like Series, HOWEVERClass, that tenor (including the same date of issuance) and denomination, bearing a number not contemporaneously outstanding. However, if any such the mutilated, destroyed, lost or stolen Bond, but not a mutilated Bond, Bond shall have become or within seven days shall be due and payable, or shall have been selected or called for redemption, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen the Bond when so due or payable or upon the applicable scheduled redemption date without surrender thereofits surrender, except that any mutilated Bond shall be surrendered. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, If a bona fide purchaser of the original Bond in lieu of which such a replacement Bond was issued (or payment was made) presents for payment such the original Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon on the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer or the Indenture Trustee in connection therewiththerewith the replacement Bond (or the payment) from the Person to whom it was delivered or any Person taking the replacement Bond from the Person to whom the replacement Bond was delivered or any assignee of that Person, except a bona fide purchaser. Upon the issuance of any replacement Bond under this Section 4.03Section, the Issuer may require the payment by the Holder of such the Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto on that issuance and any other reasonable expenses (including the fees and expenses of the Indenture TrusteeTrustee or the Transfer Agent and Registrar) connected therewithwith that issuance. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute complete and indefeasible evidence of an original additional contractual obligation of the Issuer, as if originally issued, whether or not the mutilated, destroyed, lost or stolen Bond shall be found at any time enforceable by anyone, and shall be entitled to all of the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunderBonds of the same Series and Class. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to regarding the replacement or payment of mutilated, destroyed, lost or stolen Bonds.

Appears in 1 contract

Samples: Indenture (Istar Financial Inc)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any ------------------------------------------ mutilated Bond is surrendered to the Indenture TrusteeRegistrar, or the Indenture Trustee Registrar receives evidence to its satisfaction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Registrar and the Trustee such security security, indemnity or indemnity bond as may be required by it them to hold the Issuer and the Indenture Trustee save each of them harmless, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide protected purchaser, and provided that the requirements of Section 8- 405 of the UCC are met, the Issuer shall executeexecute and, and upon its request request, the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement BondBond of like Class, tenor and principal amount, bearing a number not contemporaneously outstanding; PROVIDEDprovided, HOWEVERhowever, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, or shall have been called for redemption, instead of issuing a replacement Bond, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable or upon the Optional Redemption Date or Mandatory Redemption Date, as applicable, without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide protected purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide protected purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03Section, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture TrusteeTrustee and the Registrar) connected therewith. Every replacement Any duplicate Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond 2.06 shall constitute an original additional contractual obligation conclusive evidence of the same interest in the Issuer, as if originally issued, whether or not the mutilatedlost, destroyed, lost stolen or stolen destroyed Bond shall be found at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bondstime.

Appears in 1 contract

Samples: Administration Agreement (PSNH Funding LLC 2)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction satis- faction of the destruction, loss or theft of any Bond, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be required by it to hold the Issuer Issuer, the Bond Insurer and the Indenture Trustee harmless, then, in the absence of notice to the Issuer, the Bond Registrar or the Indenture Trustee that such Bond has been acquired by a bona fide purchaser, and provided that the requirements of Section 8- 8-405 of the UCC are met, the Issuer shall execute, and upon its request the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a replacement Bond; PROVIDEDprovided, HOWEVERhowever, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, shall have become or within seven days shall be due and payable, instead of issuing a replacement BondXxxx, the Issuer may pay such destroyed, lost or stolen Bond when so due or payable without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer Issuer, the Bond Insurer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Issuer Issuer, the Bond Insurer or the Indenture Trustee in connection therewith. Upon the issuance of any replacement Bond under this Section 4.03, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewith. Every replacement Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunderhere- under. The provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyeddestroy- ed, lost or stolen Bonds.

Appears in 1 contract

Samples: Indenture (Novastar Mortgage Funding Corp)

Mutilated, Destroyed, Lost or Stolen Bonds. If (i) any Bond shall become mutilated, the Issuer shall execute and the Trustee shall thereupon authenticate and deliver a new Bond of like Series, tenor and denomination in exchange and substitution for the Bond so mutilated, but only upon surrender to the Trustee of such mutilated Bond is surrendered to the Indenture Trustee, or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bondfor cancellation, and (ii) there is delivered to the Indenture Trustee such security or indemnity as may be required by it to hold the Issuer and the Indenture Trustee harmlessmay require reasonable indemnity therefor. If any Bond shall be reported lost, thenstolen or destroyed, in the absence of notice evidence as to the Issuerownership and the loss, theft or destruction thereof shall be submitted to the Bond Registrar or Issuer and the Indenture Trustee that Trustee; and if such Bond has been acquired by a bona fide purchaser, evidence shall be satisfactory to both and provided that the requirements of Section 8- 405 of the UCC are metindemnity satisfactory to both shall be given, the Issuer shall execute, and upon its request thereupon the Indenture Trustee shall authenticate and deliverdeliver a new Bond of like Series, in exchange tenor and denomination. The cost of providing any substitute Bond under the provisions of this Section shall be borne by the Bondholder for or in lieu of whose benefit such substitute Bond is provided. If any such mutilated, destroyedlost, lost stolen or stolen Bond, a replacement Bond; PROVIDED, HOWEVER, that if any such destroyed, lost or stolen Bond, but not a mutilated Bond, destroyed Bond shall have become matured or within seven days shall be due and payable, instead of issuing a replacement Bondabout to mature, the Issuer may may, with the consent of the Trustee, pay such destroyed, lost or stolen Bond when so due or payable without surrender thereof. If, after the delivery of such replacement Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso to Owner the preceding sentence, a bona fide purchaser principal amount of the original and accrued interest on such Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the Issuer and the Indenture Trustee shall be entitled to recover such replacement Bond (or such payment) from the Person to whom it was delivered or any Person taking such replacement Bond from such Person to whom such replacement Bond was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to maturity thereof and compliance with the extent of any lossaforesaid conditions by such Owner, damage, cost or expense incurred by the Issuer or the Indenture Trustee in connection therewith. Upon without the issuance of any replacement a substitute Bond under this Section 4.03, the Issuer may require the payment by the Holder of such Bond of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) connected therewiththerefor. Every replacement substituted Bond issued pursuant to this Section 4.03 in replacement of any mutilated, destroyed, lost or stolen Bond 2.05 shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, Bond alleged to have been destroyed, lost or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Master Indenture and applicable Supplemental Indenture equally and proportionately with any and all other Bonds of such same Series duly issued hereunderhereunder and under such Supplemental Indenture. The All Bonds shall be held and owned upon the express condition that the foregoing provisions of this Section 4.03 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds, and shall preclude any and all other rights or remedies with respect to the replacement or payment of negotiable instruments, investments or other securities without their surrender.

Appears in 1 contract

Samples: Master Trust Indenture

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