Common use of Notation on Bonds Clause in Contracts

Notation on Bonds. Bonds authenticated and delivered after the effective date of any action taken as provided in this Article may, and, if the Issuer [or the Borrower] so determines, shall bear a notation by endorsement or otherwise in form approved by the Trustee as to such action, and in that case upon demand of the holder of any Outstanding Bond at such effective date and presentation of such Bond for the purpose at the Office of the Trustee, or upon any transfer of any Bond Outstanding at such effective date, suitable notation shall be made on such Bond or upon any Bond issued upon any such transfer by the Trustee as to any such action. If the Issuer shall so determine, new Bonds so modified as in the opinion of the Trustee and the Issuer to conform to such action shall be prepared, authenticated and delivered, and upon demand of the holder of any Bond then Outstanding shall be exchanged, without cost to such Bondholder for Bonds then Outstanding, upon surrender of such Bonds for Bonds of an equal aggregate principal amount and of the same Series, maturity and interest rate, in any Authorized Denomination.

Notation on Bonds. Bonds authenticated and delivered after the effective date of any action taken as provided in Article VIII or this Article may, may and, if the Issuer [or the Borrower] Trustee so determines, shall bear a notation by endorsement or otherwise in form approved by the Agency and the Trustee as to such action. In that case, and in that case upon demand of the holder owner of any Outstanding Bond at such effective date and presentation of such his Bond for the purpose at the Office corporate trust office of the Trustee, Trustee or upon any transfer or exchange of any Bond Outstanding at such effective date, suitable notation shall be made on such Bond or upon any Bond issued upon any such transfer or exchange by the Trustee as to any such action. If the Issuer Agency or the Trustee shall so determine, new Bonds so modified as to conform (in the opinion of the Trustee and the Issuer to conform Agency) to such action shall be prepared, executed, authenticated and delivered, and upon demand of the holder owner of any Bond then Outstanding shall be exchanged, without cost to such Bondholder Bondholder, for Bonds of the same Series and maturity, then Outstanding, upon surrender of such Bonds for Bonds of an equal aggregate principal amount and of the same Series, maturity and interest rate, in any Authorized Denomination.Bonds.‌