Ord 1994-009 - Laserfiche WebLink

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to ~A l.- cancelled by the Bank.. The Issuer may at any time deliver to the Bank. for cancellation any Certificates previously certified or registered and delivered which the Issuer may have acquired in any manner whatsoever, and all Certificates so delivered shall be promptly cancelled by the Bank.. All cancelled Certificates held by the Bank. shall be disposed of as directed by the Issuer. Section 4.06. Mutilated. Destroyed. Lost. or Stolen Certificates. (a) Subject to the provisions of this Section 4.06, the Issuer hereby instructs the Bank. to deliver fully registered Certificates in exchange for or in lieu of mutilated, destroyed, lost or stolen Certificates as long as the same does not result in an overissuance. ' (b) If (i) any mutilated Certificate is surrendered to the Bank., or the Issuer and the Bank. receive evidence to their satisfaction of the destruction, loss, or theft of any Certificate, and (ii) 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 Certificate 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 Certificate, a new Certificate of the same stated maturity and of like tenor and principal amount bearing a number not contemporaneously outstanding. (c) Every new Certificate issued pursuant to this Section in lieu of any mutilated, destroyed, lost, or stolen Certificate shall constitute a replacement of the prior obligation of the Issuer, whether or not the mutilated, destroyed, lost, or stolen Certificate shall be at any time enforceable by anyone, and shall be entitled to all the benefits of the Certificate Resolution equally and ratably with all other outstanding Certificates. ~ (d) Upon the satisfaction of the Bank and the Issuer that a Certificate has been mutilated, destroyed, lost or stolen, and upon receipt by the Bank. and the Issuer of such indemnity or security as they may require, the Bank shall cancel the Certificate number on the Certificate registered with a notation in the Register that said Certificate has been mutilated, destroyed, lost or stolen; and a new Certificate shall be issued of the same series and of like tenor and principal amount bearing a number, according to the Register not contemporaneously outstanding. (e) The Bank may charge the Owner the Bank's fees and expenses in connection with issuing a new Certificate in lieu of or exchange for a mutilated, destroyed, lost or stolen Certificate. , (f) The Issuer hereby accepts the Bank's current blanket bond for lost, stolen, or destroyed Certificates and any future substitute blanket bond for lost, stolen, or destroyed Certificates 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 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 Certificates it has paid pursuant to Section 3.01, Certificates it has delivered upon the transfer or exchange of any Certificates SANMA R \CO9<\DOCS\ PAR; r/, 37: HBB F 5