Res 1988-107 - Laserfiche WebLink

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Notwithstanding the foregoing, the Bank will not issue a replacement Security or pay such Holder of a destroyed, lost or stolen Security unless there is delivered to the Bank such security or indemnity as it may require (which may be by the Bank's blanket bond) to save both the Bank and the Issuer harmless. The certificate number on the mutilated, destroyed, lost or stolen Security will be cancelled on the Security Register with a notation that it has been mutilated, destroyed, lost or stolen and a new Security will be issued of the same maturity and principal amount bearing a number (according to the Security Register) not contemporaneously outstanding. The Bank shall charge the Holder the Bank's fee and expense in connection with issuing a new Security in lieu of or exchange for a mutilated, destroyed, lost or stolen Security. The Issuer hereby accepts the Bank's current blanket bond for mutilated, lost, stolen, or destroyed Securities and any future substitute blanket for mutilated, lost, stolen, or destroyed Securities that the Bank may arrange, and agrees that the coverage under any such blanket bond is acceptable to it and meets the Issuer's requirements as to security or indemnity. The Bank need not notify the Issuer of any changes in the security or other company giving such bond or the terms of any such bond. The blanket bond then utilized for the purposes of mutilated, lost, stolen or destroyed certificates by the Bank is available for inspection by the Issuer on request. Section 4.07. Transaction Information to Issuer. The Bank will, within a reasonable time after receipt of written request from the Issuer, furnish the Issuer information as to the Securities it has paid pursuant to 3.01, Securities it has delivered upon the transfer or exchange or any Securities pursuant to Section 4.01 and Securities it has delivered in exchange for or in lieu of mutilated, destroyed, lost or stolen Securities pursuant to Section 4.06. ARTICLE FIVE THE BANK Section 5.01. Duties of Bank. The Bank undertakes to perform the duties imposed it herein and in the Bond Resolution and agrees to use reasonable care in the performance thereof. No implied covenants or obligations shall be read into this Agreement against the Bank. Section 5.02. Reliance on Documents, etc. (a) The Bank may conclusively rely, as to the truth of the statements and correctness of the opinions expressed therein, on affidavits, certificates or opinions furnished to the Bank. (b) The Bank shall not be liable for any error of judgement made in good faith by a Responsible Officer, unless it shall be proved that Bank was negligent in ascertaining the pertinent facts. TD702/19