Ord 1984-033 - Laserfiche WebLink

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destruction, loss, or theft of any Obligation, and (2) there is delivered to the Issuer and the Bank such security or indemnity as may be required by the Bank to save and hold each of them harmless, then, in the absence of notice to the Issuer or the Bank that such Obligation has been acquired by a bona fide purchaser, the Issuer shall execute and upon its request the Bank shall register and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost, or stolen Obligation, a new Obligation of the same stated maturity and of like tenor and pr i ncipal amount bear ing a number not contempor aneous1y outstanding. Every new Obligation issued pursuant to this Section in lieu of any mutilated, destroyed, lost, or stolen Obligation shall constitute a replacement of the prior obligation of the Issuer, whether or not the multi1ated, destroyed, lost, or stolen Obligation shall be at any time enforceable by anyone, and shall be entitled to all the benefits of the Resolution equally and ratably with all other outstanding Obligations. Upon the satisfaction of the Bank and the Issuer, the number of the mutilated, destroyed, lost or stolen Obligation will be cancelled on the Register with a notation that it has been mutilated, destroyed, lost or stolen and a new Obligation will be issued of the same series and of like tenor and principal amount bearing a number (according to the Register) not contemporaneously outstanding. The Bank may charge the Holder the Bank's fees and expenses in connection with issuing a new Obligation in lieu of or exchange for a mutilated, destroyed, lost or stolen Obligation. The Issuer hereby accepts the Bank's current blanket bond for lost, stolen, or destroyed Obligations and any future substitute blanket bond for lost, stolen, or destroyed Obligations 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, provided that the amount of such bond is not reduced below the amount of the bond on the date of execution of this Agreement. The blanket bond then utilized by the Bank for lost, stolen or destroyed Obligations by the Bank is available for inspection by the Issuer on request. 4.07. Transaction Information to Issuer. The Bank will, within a reasonable time and after receipt of written request from the Issuer, furnish the Issuer information as to the Obligations it has paid pursuant to Section 3.01, Obligations it has delivered upon the transfer or exchange of any Obligations pursuant to Section 4.01, and Obligations it has delivered in exchange for or in lieu of mutilated, destroyed, lost or stolen Obligations pursuant to Section 4.06. -6-