Replacement Debenture Sample Clauses

Replacement Debenture. This Debenture may be exchanged by ▇▇▇▇▇▇ at any time and from time to time for a Debenture or debentures with different denominations representing an equal aggregate outstanding Principal Amount, as reasonably requested by ▇▇▇▇▇▇, upon surrendering the same. No service charge will be made for such registration or exchange. In the event that ▇▇▇▇▇▇ notifies the Company that this Debenture has been lost, stolen or destroyed, a replacement Debenture identical in all respects to the original Debenture (except for registration number and Principal Amount, if different than that shown on the original Debenture), shall be issued to the Holder, provided that the Holder executes and delivers to the Company an agreement reasonably satisfactory to the Company to indemnify the Company from any loss incurred by it in connection with the Debenture.

Replacement Debenture. (a) If the Debenture is mutilated and is surrendered to the Company, the Company shall execute and deliver in exchange therefor a new Debenture of like tenor and principal amount and bearing a number not contemporaneously outstanding. If there shall be delivered to the Company: (i) evidence to its satisfaction of the destruction, loss or theft of the Debenture; and (ii) such security or indemnity as may be required by it to save the Company and any agent harmless. Then, in the absence of notice to the Company that the Debenture has been acquired by a bona fide purchaser, the Company shall execute and deliver, in lieu of any such destroyed, lost or stolen Debenture, a new Debenture of like tenor and principal amount and bearing a number not contemporaneously outstanding. In the event such mutilated, destroyed, lost or stolen Debenture has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new Debenture, retire such Debenture. (b) Upon the issuance of any new Debenture under this Section 7.3, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses connected therewith. (c) Any new Debenture issued pursuant to this Section 7.3 in lieu of any destroyed, lost or stolen Debenture shall constitute an original additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Debenture shall be at any time enforceable by anyone. (d) The provisions of this Section 7.3 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 Debentures.

Replacement Debenture. If this Debenture becomes mutilated or is lost, destroyed or stolen, the Corporation, subject to Applicable Law, shall issue and deliver, a new debenture of like tenor as the one mutilated, lost, destroyed or stolen in exchange for and in place of and upon cancellation of this Debenture. The Holder shall bear the cost of the issue of a replacement Debenture and in case of loss, destruction or theft shall, as a condition precedent to the issuance thereof, furnish to the Corporation such evidence of ownership and of the loss, destruction or theft of this Debenture as shall be satisfactory to the Corporation, in its sole discretion, and the Holder may also be required to furnish an indemnity in amount and form satisfactory to the Corporation, its sole discretion, and shall pay the reasonable charges of the Corporation in connection therewith.

Replacement Debenture. All documents evidencing the Loans are hereby cancelled, superseded and replaced in their entirety by the Debenture attached hereto as Exhibit A (the "Replacement Debenture"). As of June 15, 2003, the parties agree there is a compromised amount of $97,195 owing in accrued interest, penalties, fees, liquidated damages and other costs and expenses incurred and/or accrued. Accordingly, the principal amount of the Replacement Debenture reflects the original principal amount of the Loans of $240,000 and a recapitalization of the foregoing compromised amount, for a total new principle amount of $337,195.