Common use of Replacement Bonds Clause in Contracts

Replacement Bonds. (a) Upon the presentation and surrender to the Trustee of a mutilated Bond, the Trustee shall authenticate and deliver in exchange therefor a replacement Bond of like series, maturity, interest rate, and principal amount, bearing a number not contemporaneously outstanding. (b) The City or the Trustee shall require the Owner of such Bond to pay a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith and any other expenses connected therewith, including the fees and expenses of the Trustee. (c) If any Bond is lost, apparently destroyed, or wrongfully taken, the City, pursuant to the applicable laws of the State and in the absence of notice or knowledge that such Bond has been acquired by a bona fide purchaser, shall execute and the Trustee shall authenticate and deliver a replacement Bond of like series, maturity, interest rate, and principal amount, bearing a number not contemporaneously outstanding, provided that the Owner thereof shall have: (i) furnished to the Trustee satisfactory evidence of the ownership of and the circumstances of the loss, destruction, or theft of such Bond; (ii) furnished such security or indemnity as may be required by the Trustee and the City to save them harmless; (iii) paid all expenses and charges in connection therewith, including, but not limited to, printing costs, legal fees, fees of the Trustee, and any tax or other governmental charge that may be imposed; and (iv) met any other reasonable requirements of the City and the Trustee. (d) If, after the delivery of such replacement Bond, a bona fide purchaser of the original Bond in lieu of which such replacement Bond was issued presents for payment such original Bond, the City and the Trustee shall be entitled to recover such replacement Bond from the person to whom it was delivered or any person taking therefrom, 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 City or the Trustee in connection therewith. (e) If any such mutilated, lost, apparently destroyed or wrongfully taken ▇▇▇▇ has become or is about to become due and payable, the City in its discretion may, instead of issuing a replacement ▇▇▇▇, authorize the Trustee to pay such Bond. (f) Each replacement Bond delivered in accordance with this section shall be entitled to the benefits and security of this Indenture to the same extent as the Bond or Bonds in lieu of which such replacement Bond is delivered.

Replacement Bonds. ‌ (a) Upon the presentation and surrender to the Trustee Paying Agent/Registrar, at the Designated Payment/Transfer Office, of a mutilated Bond, the Trustee Paying Agent/Registrar shall authenticate and deliver in exchange therefor a replacement Bond of like series, maturity, interest rate, tenor and principal amount, bearing a number not contemporaneously outstanding. (b) . The City or the Trustee shall Paying Agent/Registrar may require the Owner of such Bond to pay a sum sufficient to cover any tax or other governmental charge that may is authorized to be imposed in connection therewith and any other expenses connected therewith, including the fees and expenses of the Trustee. (cb) If In the event any Bond is lost, apparently destroyed, destroyed or wrongfully taken, the CityPaying Agent/Registrar, pursuant to the applicable laws of the State Applicable Law and in the absence of notice or knowledge that such Bond ▇▇▇▇ has been acquired by a bona fide purchaser, shall execute and the Trustee shall authenticate and deliver a replacement Bond of like series, maturity, interest rate, tenor and principal amount, bearing a number not contemporaneously outstanding, provided that the Owner thereof shall havefirst: (i) furnished furnishes to the Trustee Paying Agent/Registrar satisfactory evidence of the his or her ownership of and the circumstances of the loss, destruction, destruction or theft of such Bond; (ii) furnished furnishes such security or indemnity as may be required by the Trustee Paying Agent/Registrar and the City to save them harmless; (iii) paid pays all expenses and charges in connection therewith, including, but not limited to, printing costs, legal fees, fees of the Trustee, Paying Agent/Registrar and any tax or other governmental charge that may is authorized to be imposed; and (iv) met satisfies any other reasonable requirements of imposed by the City and the TrusteePaying Agent/Registrar. (dc) If, after the delivery of such replacement Bond, a bona fide purchaser of the original Bond Bond, in lieu of which such replacement Bond was issued issued, presents for payment such original Bond, the City and the Trustee Paying Agent/Registrar shall be entitled to recover such replacement Bond from the person Person to whom it was delivered or any person taking therefrom, 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, cost or expense incurred by the City or the Trustee Paying Agent/Registrar in connection therewith. (ed) If In the event that any such mutilated, lost, apparently destroyed destroyed, or wrongfully taken ▇▇▇▇ Bond has become or is about to become due and payable, the City Paying Agent/Registrar, in its discretion maydiscretion, instead of issuing a replacement ▇▇▇▇Bond, authorize the Trustee to may pay such Bond. (fe) Each replacement Bond delivered in accordance with this section Section shall constitute an original contractual obligation of the City and shall be entitled to the benefits and security of this Supplemental Indenture to the same extent as the Bond or Bonds in lieu of which such replacement Bond is delivered.

Replacement Bonds. (a) Upon the presentation and surrender to the Trustee Paying Agent/Registrar, at the Designated Payment/Transfer Office, of a mutilated Bond, the Trustee Paying Agent/Registrar shall authenticate and deliver in exchange therefor a replacement Bond of like series, maturity, interest rate, tenor and principal amount, bearing a number not contemporaneously outstanding. (b) . The City or the Trustee shall Paying Agent/Registrar may require the Owner of such Bond to pay a sum sufficient to cover any tax or other governmental charge that may is authorized to be imposed in connection therewith and any other expenses connected therewith, including the fees and expenses of the Trustee. (cb) If In the event any Bond is lost, apparently destroyed, destroyed or wrongfully taken, the CityCity shall issue and the Paying Agent/Registrar, pursuant to the applicable laws of the State Applicable Law and in the absence of notice or knowledge that such Bond has been acquired by a bona fide purchaser, shall execute and the Trustee shall authenticate and deliver a replacement Bond of like series, maturity, interest rate, tenor and principal amount, bearing a number not contemporaneously outstanding, provided that the Owner thereof shall havefirst: (i) furnished furnishes to the Trustee Paying Agent/Registrar satisfactory evidence of the his or her ownership of and the circumstances of the loss, destruction, destruction or theft of such Bond; (ii) furnished furnishes such security or indemnity as may be required by the Trustee Paying Agent/Registrar and the City to save them harmless; (iii) paid pays all expenses and charges in connection therewith, including, but not limited to, printing costs, legal fees, fees of the Trustee, Paying Agent/Registrar and any tax or other governmental charge that may is authorized to be imposed; and (iv) met satisfies any other reasonable requirements of imposed by the City and the TrusteePaying Agent/Registrar. (dc) If, after the delivery of such replacement Bond, a bona fide purchaser of the original Bond Bond, in lieu of which such replacement Bond was issued issued, presents for payment such original Bond, the City and the Trustee Paying Agent/Registrar shall be entitled to recover such replacement Bond from the person Person to whom it was delivered or any person taking therefrom, 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, cost or expense incurred by the City or the Trustee Paying Agent/Registrar in connection therewith. (ed) If In the event that any such mutilated, lost, apparently destroyed destroyed, or wrongfully taken ▇▇▇▇ Bond has become or is about to become due and payable, the City Paying Agent/Registrar, in its discretion maydiscretion, instead of issuing a replacement ▇▇▇▇Bond, authorize the Trustee to may pay such Bond. (fe) Each replacement Bond delivered in accordance with this section Section shall constitute an original contractual obligation of the City and shall be entitled to the benefits and security of this Supplemental Indenture to the same extent as the Bond or Bonds in lieu of which such replacement Bond is delivered.