1987-139 - Laserfiche WebLink

Home Browse Search

• any Non -Tender Notice has been received by the Registrar and Paying Agent with respect to any Bond referred to in clause (iii) of this paragraph, of the delivery thereof. Section 2.08. Bonds Mutilated, Destroyed, Lost or Stolen. If any temporary or definitive Bond shall become mutilated or be destroyed, lost or stolen, the Issuer in its discretion may execute, and upon its request the Registrar and Paying Agent shall authenticate and deliver, a new Bond in exchange for the mutilated Bond, or in lieu of and rubstitution for the Bond so destroyed, lost or stolen. In every case of exchange or substitution, the applicant shall furnish to the Issuer, the Borrower, the Trustee and the Registrar and Paying Agent such security or indemnity as may be required by them to save each of them harmless from all risks, however remote, and the applicant shall also furnish to the Issuer, the Borrower, the Trustee and the Registrar and Paying Agent evidence to their satisfaction of the mutilation, destruction., loss or theft of the applicant's Bond and of the ownership thereof. Upon the issuance of any Bond upon such exchange or substitution, the Issuer, the Trustee or the Registrar and Paying Agent 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, including counsel fees, of the Issuer, the Trustee or the Registrar and Paying Agent. If any Bond that has matured or is about to mature shall become mutilated or be destroyed, lost or stolen, the Issuer may, instead of issuing a Bond in exchange or substitution therefor, pay or authorize the payment of such Bond (without surrender thereof except in the case of a mutilated Bond) if the applicant for such payment shall furnish to the Issuer, the Borrower, the Trustee and the Registrar and Paying Agent such security or indemnity as they may require to save them harmless, and evidence to the satisfaction of the Issuer, the Borrower, the Trustee and the Registrar and Paying Agent of the mutilation, destruction, loss or theft of such Bond and of the ownership thereof. Every Bond issued pursuant to the provisions of this Section in exchange or substitution for any Bond that is mutilated, destroyed, lost or stolen shall constitute an additional contractual obligation of the Issuer, whether or not the destroyed, lost or stolen Bonds shall be found at any time, or be enforceable by anyone, and shall be entitled to all the benefits hereof equally and proportionately with any and all other Bonds duly issued under this Indenture. All Bonds shall be held and owned upon the express condition that the foregoing provisions are 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, notwithstanding any law or statute existing on the date of this Indenture or thereafter enacted to the negotiable instruments or other securities without their surrender. Section 2.09. Cancellation and Disposition of Bonds. All mutilated Bonds, all Bonds surrendered for exchange or transfer, all Bonds that have been paid at maturity or upon prior redemption and all Bonds surrendered to the Trustee by the Borrower for cancellation shall be - 21 -