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

Mutilated, Destroyed, Lost or Stolen Notes. If (i) the Indenture Trustee receives evidence to its satisfaction of the destruction, loss, or theft of any Note and the Indenture Trustee receives the security or indemnity it requires to hold the Issuer and the Indenture Trustee harmless, or (ii) any mutilated Note is surrendered to the Indenture Trustee, then, in the absence of notice to the Issuer, the Note Registrar, or the Indenture Trustee that the Note has been acquired by a Protected Purchaser, and if the requirements of Section 8-406 of the UCC are met and subject to Section 8-405 of the UCC, the Issuer shall execute, and on its request the Indenture Trustee shall authenticate and deliver, in exchange for the Note, a replacement Note of the same Class of like tenor and principal amount. If the mutilated, destroyed, lost, or stolen Note is, or within seven days becomes, payable, or is called for redemption, instead of issuing a replacement Note the Issuer may pay the mutilated, destroyed, lost, or stolen Note when payable or on its redemption date. If, after the delivery of the replacement Note or payment of a destroyed, lost, or stolen Note pursuant to the preceding sentence, a Protected Purchaser of the original Note in lieu of which the replacement Note was issued presents it for payment, the Issuer and the Indenture Trustee may recover the replacement Note (or the payment) from the person to whom it was delivered or any person taking the replacement Note from the person to whom the replacement Note was delivered or any assignee of that person, except a Protected Purchaser, and may recover on the security or indemnity provided for it to the extent of any expense incurred by the Issuer or the Indenture Trustee in connection with it. Upon the issuance of any replacement Note under this Section, the Issuer may require the payment by the Holder of the Note of a sum sufficient to cover any tax or other governmental charge that may be imposed on it and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) in connection with it. Every replacement Note issued pursuant to this Section in replacement of any mutilated, destroyed, lost, or stolen Note shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost, or stolen Note is enforceable by anyone at any time, and shall be entitled to all the benefits of this Indenture equally and proportionately with any other Notes duly issued under this Indenture. The provisions of this Section are exclusive and shall preclude all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost, or stolen Notes.

Appears in 23 contracts

Samples: Custodial Agreement (CWABS Revolving Home Equity Loan Trust, Series 2004-O), Custodial Agreement (CWHEQ Revolving Home Equity Loan Asset Backed Notes, Series 2005-B), Custodial Agreement (CWHEQ Revolving Home Equity Loan Asset Backed Notes, Series 2005-C)

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Mutilated, Destroyed, Lost or Stolen Notes. If (i) the Indenture Trustee receives evidence to its satisfaction of the destruction, loss, or theft of any Note and the Indenture Trustee receives the security or indemnity it requires to hold the Issuer and the Indenture Trustee harmless, or (ii) any mutilated Note is surrendered to the Indenture Trustee, then, in the absence of notice to the Issuer, the Note Registrar, or the Indenture Trustee that the Note has been acquired by a Protected Purchaser, and if the requirements of Section 8-406 of the UCC are met and subject to Section 8-405 of the UCC, the Issuer shall execute, and on its request the Indenture Trustee shall authenticate and deliver, in exchange for the Note, a replacement Note of the same Class of like tenor and principal amount. If the mutilated, destroyed, lost, or stolen Note is, or within seven days becomes, payable, or is called for redemption, instead of issuing a replacement Note the Issuer may pay the mutilated, destroyed, lost, or stolen Note when payable or on its redemption date. If, after the delivery of the replacement Note or payment of a destroyed, lost, or stolen Note pursuant to the preceding sentence, a Protected Purchaser of the original Note in lieu of which the replacement Note was issued presents it for payment, the Issuer and the Indenture Trustee may recover the replacement Note (or the payment) from the person to whom it was delivered or any person taking the replacement Note from the person to whom the replacement Note was delivered or any assignee of that person, except a Protected Purchaser, and may recover on the security or indemnity provided for it to the extent of any expense incurred by the Issuer or the Indenture Trustee in connection with it. Upon the issuance of any replacement Note under this Section, the Issuer may require the payment by the Holder of the Note of a sum sufficient to cover any tax or other governmental charge that may be imposed on it and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) in connection with it. Every replacement Note issued pursuant to this Section in replacement of any mutilated, destroyed, lost, or stolen Note shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost, or stolen Note is enforceable by anyone at any time, and shall be entitled to all the benefits of this Indenture equally and proportionately with any other Notes duly issued under this Indenture. The provisions of this Section are exclusive and shall preclude all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost, or stolen Notes.

Appears in 18 contracts

Samples: Indenture (Cwabs Inc), Indenture (Cwabs Inc), Custodial Agreement (Cwabs Inc Revolving Home Eq Ln Asst Back NTS Ser 2004-A)

Mutilated, Destroyed, Lost or Stolen Notes. If (i) the Indenture Trustee receives evidence to its satisfaction of the destruction, loss, or theft of any Note and the Indenture Trustee receives the security or indemnity it requires to hold the Issuer and the Indenture Trustee harmless, or (ii) any mutilated Note is surrendered to the Indenture Trustee, then, in the absence of notice to the Issuer, the Note Registrar, or the Indenture Trustee that the Note has been acquired by a Protected Purchaser, and if the requirements of Section 8-406 of the UCC are met and subject to Section 8-405 of the UCC, the Issuer shall execute, and on its request the Indenture Trustee shall authenticate and deliver, in exchange for the Note, a replacement Note of the same Class of like tenor and principal amount. If the mutilated, destroyed, lost, or stolen Note is, or within seven days becomes, payable, or is called for redemption, instead of issuing a replacement Note the Issuer may pay the mutilated, destroyed, lost, or stolen Note when payable or on its redemption date. If, after the delivery of the replacement Note or payment of a destroyed, lost, or stolen Note pursuant to the preceding sentencethis Section, a Protected Purchaser of the original Note in lieu of which the replacement Note was issued presents it for payment, the Issuer and the Indenture Trustee may recover the replacement Note (or the payment) from the person to whom it was delivered or any person taking the replacement Note from the person to whom the replacement Note was delivered or any assignee of that person, except a Protected Purchaser, and may recover on the security or indemnity provided for it to the extent of any expense incurred by the Issuer or the Indenture Trustee in connection with it. Upon the issuance of any replacement Note under this Section, the Issuer may require the payment by the Holder of the Note of a sum sufficient to cover any tax or other governmental charge that may be imposed on it and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) in connection with it. Every replacement Note issued pursuant to this Section in replacement of any mutilated, destroyed, lost, or stolen Note shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost, or stolen Note is enforceable by anyone at any time, and shall be entitled to all the benefits of this Indenture equally and proportionately with any other Notes duly issued under this Indenture. The provisions of this Section are exclusive and shall preclude all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost, or stolen Notes.

Appears in 8 contracts

Samples: Custodial Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2005-L), Custodial Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2006-A), Custodial Agreement (CWHEQ Revolving Home Equity Loan Asset Backed Notes, Series 2006-C)

Mutilated, Destroyed, Lost or Stolen Notes. (a) If (i) a mutilated Note is surrendered to the Indenture Trustee or the Indenture Trustee receives evidence to its satisfaction of the destruction, loss, loss or theft of any a Note, then the Issuer will execute and, on Issuer Request, the Indenture Trustee will authenticate and deliver a replacement Note of the same Class and principal amount in exchange for or in lieu of the Note so long as (i) the Indenture Trustee receives the any security or indemnity required by it requires to hold the Issuer and the Indenture Trustee harmless, or (ii) any mutilated Note is surrendered to the Indenture Trustee, then, in the absence none of notice to the Issuer, the Note Registrar, Registrar or the Indenture Trustee have received notice that the Note has been acquired by a Protected Purchaserprotected purchaser, as defined in Section 8-303 of the UCC and if (iii) the requirements of Section 8-406 405 of the UCC are met and subject to Section 8-405 of the UCCmet. However, the Issuer shall execute, and on its request the Indenture Trustee shall authenticate and deliver, in exchange for the Note, a replacement Note of the same Class of like tenor and principal amount. If the mutilated, if any such destroyed, lost, lost or stolen Note is, (but not a mutilated Note) is due and payable within 15 days or within seven days becomes, payable, or is has been called for redemption, instead of issuing a replacement Note Note, the Issuer may pay the mutilated, destroyed, lost, lost or stolen Note when so due or payable or on its redemption date. If, after the delivery Redemption Date without surrender of the replacement Note or payment of Note. If a destroyed, lost, or stolen Note pursuant to the preceding sentence, a Protected Purchaser protected purchaser of the original Note in lieu of which the replacement Note was issued (or the payment made) presents it for paymentpayment the original Note, the Issuer and the Indenture Trustee may will be entitled to recover the replacement Note (or the payment) from the person Person to whom it was delivered or any person Person taking the replacement Note (or the payment) from the person Person to whom the replacement Note (or the payment) was delivered or any assignee of that personPerson, except a Protected Purchaserprotected purchaser, and may will be entitled to recover on the security or indemnity provided for it to the extent of replacement Note (or the payment) for any expense cost, expense, loss, damage, claim or liability incurred by the Issuer or the Indenture Trustee in connection with it. Upon the issuance of any replacement Note under this Section, (or the Issuer may require the payment by the Holder of the Note of a sum sufficient to cover any tax or other governmental charge that may be imposed on it and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) in connection with it. Every replacement Note issued pursuant to this Section in replacement of any mutilated, destroyed, lost, or stolen Note shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost, or stolen Note is enforceable by anyone at any time, and shall be entitled to all the benefits of this Indenture equally and proportionately with any other Notes duly issued under this Indenture. The provisions of this Section are exclusive and shall preclude all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost, or stolen Notespayment).

Appears in 7 contracts

Samples: Indenture (Ford Credit Auto Lease Trust 2015-B), Indenture (Ford Credit Auto Lease Trust 2015-B), Indenture (Ford Credit Auto Lease Trust 2015-A)

Mutilated, Destroyed, Lost or Stolen Notes. If (i) any mutilated Note is surrendered to the Indenture Trustee, then the Issuer shall execute, and on its request the Indenture Trustee shall authenticate and deliver, in exchange for the Note, a replacement Note of the same Class of like tenor and principal amount. If the Indenture Trustee receives evidence to its satisfaction of the destruction, loss, or theft of any Note Note, and each of the Issuer and the Indenture Trustee receives receive the security or indemnity it requires they require to hold the Issuer and the Indenture Trustee harmless, or (ii) any mutilated Note is surrendered to the Indenture Trustee, then, in the absence of notice to the Issuer, the Note Registrar, or the Indenture Trustee that the Note has been acquired by a Protected Purchaser, and if the requirements of Section 8-406 of the UCC are met and subject to Section 8-405 of the UCC, the Issuer shall execute, and on its request the Indenture Trustee shall authenticate and deliver, in exchange for the Note, a replacement Note of the same Class of like tenor and principal amount. If the mutilated, destroyed, lost, or stolen Note is, or within seven days becomes, payable, or is called for redemption, instead of issuing a replacement Note the Issuer may pay the mutilated, destroyed, lost, or stolen Note when payable or on its redemption datepayable. If, after the delivery of the replacement Note or payment of a destroyed, lost, or stolen Note pursuant to the preceding sentencethis Section, a Protected Purchaser of the original Note in lieu of which the replacement Note was issued presents it for payment, the Issuer and the Indenture Trustee may recover the replacement Note (or the payment) from the person to whom it was delivered or any person taking the replacement Note from the person to whom the replacement Note was delivered or any assignee of that person, except a Protected Purchaser, and may recover on the security or indemnity provided for it to the extent of any expense incurred by the Issuer or the Indenture Trustee in connection with it. Upon the issuance of any replacement Note under this Section, the Issuer may require the payment by the Holder of the Note of a sum sufficient to cover any tax or other governmental charge that may be imposed on it and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) in connection with it. Every replacement Note issued pursuant to this Section in replacement of any mutilated, destroyed, lost, or stolen Note shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost, or stolen Note is enforceable by anyone at any time, and shall be entitled to all the benefits of this Indenture equally and proportionately with any other Notes duly issued under this Indenture. The provisions of this Section are exclusive and shall preclude all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost, or stolen Notes.

Appears in 4 contracts

Samples: Custodial Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2007-G), Custodial Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2007-D), Custodial Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2007-C)

Mutilated, Destroyed, Lost or Stolen Notes. If (i) any mutilated Note is surrendered to the Indenture Trustee, then the Issuer shall execute, and on its request the Indenture Trustee shall authenticate and deliver, in exchange for the Note, a replacement Note of the same Class of like tenor and principal amount. If the Indenture Trustee receives evidence to its satisfaction of the destruction, loss, or theft of any Note Note, and each of the Issuer and the Indenture Trustee receives receive the security or indemnity it requires they require to hold the Issuer and the Indenture Trustee harmless, or (ii) any mutilated Note is surrendered to the Indenture Trustee, then, in the absence of notice to the Issuer, the Note Registrar, or the Indenture Trustee that the Note has been acquired by a Protected Purchaser, and if the requirements of Section 8-406 of the UCC are met and subject to Section 8-405 of the UCC, the Issuer shall execute, and on its request the Indenture Trustee shall authenticate and deliver, in exchange for the Note, a replacement Note of the same Class of like tenor and principal amount. If the mutilated, destroyed, lost, or stolen Note is, or within seven days becomes, payable, or is called for redemption, instead of issuing a replacement Note the Issuer may pay the mutilated, destroyed, lost, or stolen Note when payable or on its redemption datepayable. If, after the delivery of the replacement Note or payment of a destroyed, lost, or stolen Note pursuant to the preceding sentencethis Section, a Protected Purchaser of the original Note in lieu of which the replacement Note was issued presents it for payment, the Issuer and the Indenture Trustee may recover the replacement Note (or the payment) from the person to whom it was delivered or any person taking the replacement Note from the person to whom the replacement Note was delivered or any assignee of that person, except a Protected Purchaser, and may recover on the security or indemnity provided for it to the extent of any expense incurred by the Issuer or the Indenture Trustee in connection with it. Upon the issuance of any replacement Note under this Section, the Issuer may require the payment by the Holder of the Note of a sum sufficient to cover any tax or other governmental charge that may be imposed on it and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) in connection with it. Every replacement Note issued pursuant to this Section in replacement of any mutilated, destroyed, lost, or stolen Note shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost, or stolen Note is enforceable by anyone at any time, and shall be entitled to all the benefits of this Indenture equally and proportionately with any other Notes duly issued under this Indenture. The provisions of this Section are exclusive and shall preclude all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost, or stolen Notes.

Appears in 2 contracts

Samples: Custodial Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2007-A), Custodial Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2006-I)

Mutilated, Destroyed, Lost or Stolen Notes. If (i) the Indenture Trustee receives evidence to its satisfaction of the destruction, loss, or theft of any Note and the Indenture Trustee receives and the Credit Enhancer receive the security or indemnity it requires they require to hold the Issuer Issuer, the Credit Enhancer, and the Indenture Trustee harmless, or (ii) any mutilated Note is surrendered to the Indenture Trustee, then, in the absence of notice to the Issuer, the Note Registrar, or the Indenture Trustee that the Note has been acquired by a Protected Purchaser, and if the requirements of Section 8-406 of the UCC are met and subject to Section 8-405 of the UCC, the Issuer shall execute, and on its request the Indenture Trustee shall authenticate and deliver, in exchange for the Note, a replacement Note of the same Class of like tenor and principal amount. If the mutilated, destroyed, lost, or stolen Note is, or within seven days becomes, payable, or is called for redemption, instead of issuing a replacement Note the Issuer may pay the mutilated, destroyed, lost, or stolen Note when payable or on its redemption date. If, after the delivery of the replacement Note or payment of a destroyed, lost, or stolen Note pursuant to the preceding sentence, a Protected Purchaser of the original Note in lieu of which the replacement Note was issued presents it for payment, the Issuer and the Indenture Trustee may recover the replacement Note (or the payment) from the person to whom it was delivered or any person taking the replacement Note from the person to whom the replacement Note was delivered or any assignee of that person, except a Protected Purchaser, and may recover on the security or indemnity provided for it to the extent of any expense incurred by the Issuer Issuer, the Credit Enhancer, or the Indenture Trustee in connection with it. Upon the issuance of any replacement Note under this Section, the Issuer may require the payment by the Holder of the Note of a sum sufficient to cover any tax or other governmental charge that may be imposed on it and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) in connection with it. Every replacement Note issued pursuant to this Section in replacement of any mutilated, destroyed, lost, or stolen Note shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost, or stolen Note is enforceable by anyone at any time, and shall be entitled to all the benefits of this Indenture equally and proportionately with any other Notes duly issued under this Indenture. The provisions of this Section are exclusive and shall preclude all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost, or stolen Notes.

Appears in 2 contracts

Samples: Custodial Agreement (CWABS Revolving Home Equity Loan Trust Series, 2004-P), Custodial Agreement (CWHEQ, Inc.)

Mutilated, Destroyed, Lost or Stolen Notes. If (i) the Indenture Trustee receives evidence to its satisfaction of the destruction, loss, or theft of any Note and the Indenture Trustee receives and the Credit Enhancer receive the security or indemnity it requires to hold the Issuer Issuer, the Credit Enhancer, and the Indenture Trustee harmless, or (ii) any mutilated Note is surrendered to the Indenture Trustee, then, in the absence of notice to the Issuer, the Note Registrar, or the Indenture Trustee that the Note has been acquired by a Protected Purchaser, and if the requirements of Section 8-406 of the UCC are met and subject to Section 8-405 of the UCC, the Issuer shall execute, and on its request the Indenture Trustee shall authenticate and deliver, in exchange for the Note, a replacement Note of the same Class of like tenor and principal amount. If the mutilated, destroyed, lost, or stolen Note is, or within seven days becomes, payable, or is called for redemption, instead of issuing a replacement Note the Issuer may pay the mutilated, destroyed, lost, or stolen Note when payable or on its redemption date. If, after the delivery of the replacement Note or payment of a destroyed, lost, or stolen Note pursuant to the preceding sentence, a Protected Purchaser of the original Note in lieu of which the replacement Note was issued presents it for payment, the Issuer and the Indenture Trustee may recover the replacement Note (or the payment) from the person to whom it was delivered or any person taking the replacement Note from the person to whom the replacement Note was delivered or any assignee of that person, except a Protected Purchaser, and may recover on the security or indemnity provided for it to the extent of any expense incurred by the Issuer Issuer, the Credit Enhancer, or the Indenture Trustee in connection with it. Upon the issuance of any replacement Note under this Section, the Issuer may require the payment by the Holder of the Note of a sum sufficient to cover any tax or other governmental charge that may be imposed on it and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) in connection with it. Every replacement Note issued pursuant to this Section in replacement of any mutilated, destroyed, lost, or stolen Note shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost, or stolen Note is enforceable by anyone at any time, and shall be entitled to all the benefits of this Indenture equally and proportionately with any other Notes duly issued under this Indenture. The provisions of this Section are exclusive and shall preclude all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost, or stolen Notes.

Appears in 2 contracts

Samples: Indenture (Cwabs Inc), Indenture (Cwabs Inc)

Mutilated, Destroyed, Lost or Stolen Notes. If (i) the Indenture Trustee receives evidence to its satisfaction of the destruction, loss, or theft of any Note and the Indenture Trustee receives the security or indemnity it requires to hold the Issuer Issuer, the Credit Enhancer and the Indenture Trustee harmless, or (ii) any mutilated Note is surrendered to the Indenture Trustee, then, in the absence of notice to the Issuer, the Note Registrar, or the Indenture Trustee that the Note has been acquired by a Protected Purchaser, and if the requirements of Section 8-406 of the UCC are met and subject to Section 8-405 of the UCC, the Issuer shall execute, and on its request the Indenture Trustee shall authenticate and deliver, in exchange for the Note, a replacement Note of the same Class of like tenor and principal amount. If the mutilated, destroyed, lost, or stolen Note is, or within seven days becomes, payable, or is called for redemption, instead of issuing a replacement Note the Issuer may pay the mutilated, destroyed, lost, or stolen Note when payable or on its redemption date. If, after the delivery of the replacement Note or payment of a destroyed, lost, or stolen Note pursuant to the preceding sentence, a Protected Purchaser of the original Note in lieu of which the replacement Note was issued presents it for payment, the Issuer and the Indenture Trustee may recover the replacement Note (or the payment) from the person to whom it was delivered or any person taking the replacement Note from the person to whom the replacement Note was delivered or any assignee of that person, except a Protected Purchaser, and may recover on the security or indemnity provided for it to the extent of any expense incurred by the Issuer Issuer, the Credit Enhancer or the Indenture Trustee in connection with it. Upon the issuance of any replacement Note under this Section, the Issuer may require the payment by the Holder of the Note of a sum sufficient to cover any tax or other governmental charge that may be imposed on it and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) in connection with it. Every replacement Note issued pursuant to this Section in replacement of any mutilated, destroyed, lost, or stolen Note shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost, or stolen Note is enforceable by anyone at any time, and shall be entitled to all the benefits of this Indenture equally and proportionately with any other Notes duly issued under this Indenture. The provisions of this Section are exclusive and shall preclude all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost, or stolen Notes.

Appears in 2 contracts

Samples: Custodial Agreement (CWHEQ Revolving Home Equity Loan Asset Backed Notes, Series 2005-A), Custodial Agreement (CWHEQ Revolving Home Equity Loan Asset Backed Notes, Series 2005-E)

Mutilated, Destroyed, Lost or Stolen Notes. If (i) the Indenture Trustee receives evidence to its satisfaction of the destruction, loss, or theft of any Note and the Indenture Trustee receives the security or indemnity it requires to hold the Issuer Issuer, the Credit Enhancer, and the Indenture Trustee harmless, or (ii) any mutilated Note is surrendered to the Indenture Trustee, then, in the absence of notice to the Issuer, the Note Registrar, or the Indenture Trustee that the Note has been acquired by a Protected Purchaser, and if the requirements of Section 8-406 of the UCC are met and subject to Section 8-405 of the UCC, the Issuer shall execute, and on its request the Indenture Trustee shall authenticate and deliver, in exchange for the Note, a replacement Note of the same Class of like tenor and principal amount. If the mutilated, destroyed, lost, or stolen Note is, or within seven days becomes, payable, or is called for redemption, instead of issuing a replacement Note the Issuer may pay the mutilated, destroyed, lost, or stolen Note when payable or on its redemption date. If, after the delivery of the replacement Note or payment of a destroyed, lost, or stolen Note pursuant to the preceding sentencethis Section, a Protected Purchaser of the original Note in lieu of which the replacement Note was issued presents it for payment, the Issuer and the Indenture Trustee may recover the replacement Note (or the payment) from the person to whom it was delivered or any person taking the replacement Note from the person to whom the replacement Note was delivered or any assignee of that person, except a Protected Purchaser, and may recover on the security or indemnity provided for it to the extent of any expense incurred by the Issuer Issuer, the Credit Enhancer, or the Indenture Trustee in connection with it. Upon the issuance of any replacement Note under this Section, the Issuer may require the payment by the Holder of the Note of a sum sufficient to cover any tax or other governmental charge that may be imposed on it and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) in connection with it. Every replacement Note issued pursuant to this Section in replacement of any mutilated, destroyed, lost, or stolen Note shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost, or stolen Note is enforceable by anyone at any time, and shall be entitled to all the benefits of this Indenture equally and proportionately with any other Notes duly issued under this Indenture. The provisions of this Section are exclusive and shall preclude all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost, or stolen Notes.

Appears in 2 contracts

Samples: Custodial Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2006-G), Custodial Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2006-E)

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Mutilated, Destroyed, Lost or Stolen Notes. If (i) the Indenture Trustee receives evidence to its satisfaction of the destruction, loss, or theft of any Note and the Indenture Trustee receives the security or indemnity it requires to hold the Issuer Issuer, the Credit Enhancer, and the Indenture Trustee harmless, or (ii) any mutilated Note is surrendered to the Indenture Trustee, then, in the absence of notice to the Issuer, the Note Registrar, or the Indenture Trustee that the Note has been acquired by a Protected Purchaser, and if the requirements of Section 8-406 of the UCC are met and subject to Section 8-405 of the UCC, the Issuer shall execute, and on its request the Indenture Trustee shall authenticate and deliver, in exchange for the Note, a replacement Note of the same Class of like tenor and principal amount. If the mutilated, destroyed, lost, or stolen Note is, or within seven days becomes, payable, or is called for redemption, instead of issuing a replacement Note the Issuer may pay the mutilated, destroyed, lost, or stolen Note when payable or on its redemption date. If, after the delivery of the replacement Note or payment of a destroyed, lost, or stolen Note pursuant to the preceding sentencethis Section, a Protected Purchaser of the original Note in lieu of which the replacement Note was issued presents it for payment, the Issuer and the Indenture Trustee may recover the replacement Note (or the payment) from the person to whom it was delivered or any person taking the replacement Note from the person to whom the replacement Note was delivered or any assignee of that person, except a Protected Purchaser, and may recover on the security or indemnity provided for it to the extent of any expense incurred by the Issuer Issuer, the Credit Enhancer or the Indenture Trustee in connection with it. Upon the issuance of any replacement Note under this Section, the Issuer may require the payment by the Holder of the Note of a sum sufficient to cover any tax or other governmental charge that may be imposed on it and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) in connection with it. Every replacement Note issued pursuant to this Section in replacement of any mutilated, destroyed, lost, or stolen Note shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost, or stolen Note is enforceable by anyone at any time, and shall be entitled to all the benefits of this Indenture equally and proportionately with any other Notes duly issued under this Indenture. The provisions of this Section are exclusive and shall preclude all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost, or stolen Notes.

Appears in 2 contracts

Samples: Custodial Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2005-M), Custodial Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2005-I)

Mutilated, Destroyed, Lost or Stolen Notes. If (i) the Indenture Trustee receives evidence to its satisfaction of the destruction, loss, or theft of any Note and the Indenture Trustee receives and the Credit Enhancer receive the security or indemnity it requires they require to hold the Issuer Issuer, the Indenture Trustee, and the Indenture Trustee Credit Enhancer harmless, or (ii) any mutilated Note is surrendered to the Indenture Trustee, then, in the absence of notice to the Issuer, the Note Registrar, or the Indenture Trustee that the Note has been acquired by a Protected Purchaser, and if the requirements of Section 8-406 of the UCC are met and subject to Section 8-405 of the UCC, the Issuer shall execute, and on its request the Indenture Trustee shall authenticate and deliver, in exchange for the Note, a replacement Note of the same Class of like tenor and principal amount. If the mutilated, destroyed, lost, or stolen Note is, or within seven days becomes, payable, or is called for redemption, instead of issuing a replacement Note the Issuer may pay the mutilated, destroyed, lost, or stolen Note when payable or on its redemption date. If, after the delivery of the replacement Note or payment of a destroyed, lost, or stolen Note pursuant to the preceding sentence, a Protected Purchaser of the original Note in lieu of which the replacement Note was issued presents it for payment, the Issuer and the Indenture Trustee may recover the replacement Note (or the payment) from the person to whom it was delivered or any person taking the replacement Note from the person to whom the replacement Note was delivered or any assignee of that person, except a Protected Purchaser, and may recover on the security or indemnity provided for it to the extent of any expense incurred by the Issuer Issuer, the Credit Enhancer, or the Indenture Trustee in connection with it. Upon the issuance of any replacement Note under this Section, the Issuer may require the payment by the Holder of the Note of a sum sufficient to cover any tax or other governmental charge that may be imposed on it and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) in connection with it. Every replacement Note issued pursuant to this Section in replacement of any mutilated, destroyed, lost, or stolen Note shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost, or stolen Note is enforceable by anyone at any time, and shall be entitled to all the benefits of this Indenture equally and proportionately with any other Notes duly issued under this Indenture. The provisions of this Section are exclusive and shall preclude all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost, or stolen Notes.

Appears in 1 contract

Samples: Custodial Agreement (CWABS Revolving Home Equity Loan Trust, Series 2004-I)

Mutilated, Destroyed, Lost or Stolen Notes. If (i) any mutilated Note is surrendered to the Indenture Trustee, then the Issuer shall execute, and on its request the Indenture Trustee shall authenticate and deliver, in exchange for the Note, a replacement Note of the same Class of like tenor and principal amount. If the Indenture Trustee receives evidence to its satisfaction of the destruction, loss, or theft of any Note Note, and the Indenture Trustee receives the security or indemnity it requires to hold each of the Issuer and the Indenture Trustee harmlessreceive the security or indemnity they require to hold the Issuer, or (ii) any mutilated Note is surrendered to the Credit Enhancer, and the Indenture TrusteeTrustee harmless, then, in the absence of notice to the Issuer, the Note Registrar, or the Indenture Trustee that the Note has been acquired by a Protected Purchaser, and if the requirements of Section 8-406 of the UCC are met and subject to Section 8-405 of the UCC, the Issuer shall execute, and on its request the Indenture Trustee shall authenticate and deliver, in exchange for the Note, a replacement Note of the same Class of like tenor and principal amount. If the mutilated, destroyed, lost, or stolen Note is, or within seven days becomes, payable, or is called for redemption, instead of issuing a replacement Note the Issuer may pay the mutilated, destroyed, lost, or stolen Note when payable or on its redemption datepayable. If, after the delivery of the replacement Note or payment of a destroyed, lost, or stolen Note pursuant to the preceding sentencethis Section, a Protected Purchaser of the original Note in lieu of which the replacement Note was issued presents it for payment, the Issuer and the Indenture Trustee may recover the replacement Note (or the payment) from the person to whom it was delivered or any person taking the replacement Note from the person to whom the replacement Note was delivered or any assignee of that person, except a Protected Purchaser, and may recover on the security or indemnity provided for it to the extent of any expense incurred by the Issuer Issuer, the Credit Enhancer, or the Indenture Trustee in connection with it. Upon the issuance of any replacement Note under this Section, the Issuer may require the payment by the Holder of the Note of a sum sufficient to cover any tax or other governmental charge that may be imposed on it and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) in connection with it. Every replacement Note issued pursuant to this Section in replacement of any mutilated, destroyed, lost, or stolen Note shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost, or stolen Note is enforceable by anyone at any time, and shall be entitled to all the benefits of this Indenture equally and proportionately with any other Notes duly issued under this Indenture. The provisions of this Section are exclusive and shall preclude all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost, or stolen Notes.

Appears in 1 contract

Samples: Custodial Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2007-E)

Mutilated, Destroyed, Lost or Stolen Notes. If (i) the Indenture Trustee receives evidence to its satisfaction of the destruction, loss, or theft of any Note and the Indenture Trustee receives the security or indemnity it requires to hold the Issuer and the Indenture Trustee harmless, or (ii) any mutilated Note is surrendered to the Indenture Trustee, then, in the absence of notice to the Issuer, the Note Registrar, or the Indenture Trustee that the Note has been acquired by a Protected Purchaser, and if the requirements of Section 8-406 of the UCC are met and subject to Section 8-405 of the UCC, the Issuer shall execute, and on its request the Indenture Trustee shall authenticate and deliver, in exchange for the Note, a replacement Note of the same Class of like tenor and principal amount. If the mutilated, destroyed, lost, or stolen Note is, or within seven [seven] days becomes, payable, or is called for redemption, instead of issuing a replacement Note the Issuer may pay the mutilated, destroyed, lost, or stolen Note when payable or on its redemption date. If, after the delivery of the replacement Note or payment of a destroyed, lost, or stolen Note pursuant to the preceding sentence, a Protected Purchaser of the original Note in lieu of which the replacement Note was issued presents it for payment, the Issuer and the Indenture Trustee may recover the replacement Note (or the payment) from the person to whom it was delivered or any person taking the replacement Note from the person to whom the replacement Note was delivered or any assignee of that person, except a Protected Purchaser, and may recover on the security or indemnity provided for it to the extent of any expense incurred by the Issuer or the Indenture Trustee in connection with it. Upon the issuance of any replacement Note under this Section, the Issuer may require the payment by the Holder of the Note of a sum sufficient to cover any tax or other governmental charge that may be imposed on it and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) in connection with it. Every replacement Note issued pursuant to this Section in replacement of any mutilated, destroyed, lost, or stolen Note shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost, or stolen Note is enforceable by anyone at any time, and shall be entitled to all the benefits of this Indenture equally and proportionately with any other Notes duly issued under this Indenture. The provisions of this Section are exclusive and shall preclude all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost, or stolen Notes.

Appears in 1 contract

Samples: Indenture (Indymac Abs Inc)

Mutilated, Destroyed, Lost or Stolen Notes. If (i) any mutilated Note is surrendered to the Indenture Trustee, then the Issuer shall execute, and on its request the Indenture Trustee shall authenticate and deliver, in exchange for the Note, a replacement Note of the same Class of like tenor and principal amount. If the Indenture Trustee receives evidence to its satisfaction of the destruction, loss, or theft of any Note Note, and the Indenture Trustee receives the security or indemnity it requires to hold the Issuer and the Indenture Trustee harmless, or (ii) any mutilated Note is surrendered to the Indenture Trustee, then, in the absence of notice to the Issuer, the Note Registrar, or the Indenture Trustee that the Note has been acquired by a Protected Purchaser, and if the requirements of Section 8-406 of the UCC are met and subject to Section 8-405 of the UCC, the Issuer shall execute, and on its request the Indenture Trustee shall authenticate and deliver, in exchange for the Note, a replacement Note of the same Class of like tenor and principal amount. If the mutilated, destroyed, lost, or stolen Note is, or within seven days becomes, payable, or is called for redemption, instead of issuing a replacement Note the Issuer may pay the mutilated, destroyed, lost, or stolen Note when payable or on its redemption datepayable. If, after the delivery of the replacement Note or payment of a destroyed, lost, or stolen Note pursuant to the preceding sentencethis Section, a Protected Purchaser of the original Note in lieu of which the replacement Note was issued presents it for payment, the Issuer and the Indenture Trustee may recover the replacement Note (or the payment) from the person to whom it was delivered or any person taking the replacement Note from the person to whom the replacement Note was delivered or any assignee of that person, except a Protected Purchaser, and may recover on the security or indemnity provided for it to the extent of any expense incurred by the Issuer or the Indenture Trustee in connection with it. Upon the issuance of any replacement Note under this Section, the Issuer may require the payment by the Holder of the Note of a sum sufficient to cover any tax or other governmental charge that may be imposed on it and any other reasonable expenses (including the fees and expenses of the Indenture Trustee) in connection with it. Every replacement Note issued pursuant to this Section in replacement of any mutilated, destroyed, lost, or stolen Note shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost, or stolen Note is enforceable by anyone at any time, and shall be entitled to all the benefits of this Indenture equally and proportionately with any other Notes duly issued under this Indenture. The provisions of this Section are exclusive and shall preclude all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost, or stolen Notes.

Appears in 1 contract

Samples: Custodial Agreement (CWHEQ Revolving Home Equity Loan Trust, Series 2006-F)

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