Common use of Cancellation Destruction and Records Clause in Contracts

Cancellation Destruction and Records. 14.1 All Notes which are redeemed in full shall be cancelled forthwith by (i) in the case of Definitive Registered Notes, the removal of the relevant Holder's name from the Senior Note Register or the Junior Note Register, as the case may be, by the Registrar or (ii) in the case of Notes represented by a Global Note, notation by or on behalf of the Paying Agent in the schedule to such Global Note of the reduction in the principal amount of such Global Note.