Common use of Cancellation of Securities; Destruction Thereof Clause in Contracts

Cancellation of Securities; Destruction Thereof. All Securities and Coupons surrendered for payment, redemption, registration of transfer, exchange or conversion, or for credit against any payment in respect of a sinking or analogous fund, shall, if surrendered to the Corporation or any agent of the Corporation or the Trustee, be delivered to the Trustee for cancellation or, if surrendered to the Trustee, shall be cancelled by it; and no Securities or Coupons shall be issued in lieu thereof, except as expressly permitted by any of the provisions of this Indenture. The Corporation may at any time deliver to the Trustee for cancellation any Securities or Coupons previously authenticated hereunder which the Corporation has not issued and sold and all Securities or Coupons so delivered shall be promptly cancelled by the Trustee. The Trustee shall return cancelled Securities and Coupons held by it or provide a certificate of destruction to the Corporation. If the Corporation shall acquire any of the Securities or Coupons, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities or Coupons unless and until the same are delivered to the Trustee for cancellation.

Cancellation of Securities; Destruction Thereof. All Securities and Coupons surrendered for payment, redemption, registration of transfer, exchange or conversion, or for credit against any payment in respect of a sinking or analogous fund, shall, if surrendered to the Corporation Company or any agent of the Corporation Company or the Trustee, be delivered to the Trustee for cancellation or, if surrendered to the Trustee, shall be cancelled by it; and no Securities or Coupons shall be issued in lieu thereof, except as expressly permitted by any of the provisions of this Indenture. The Corporation Company may at any time deliver to the Trustee for cancellation any Securities or Coupons previously authenticated hereunder which the Corporation Company has not issued and sold and all Securities or Coupons so delivered shall be promptly cancelled by the Trustee. The Trustee shall return cancelled Securities and Coupons held by it or provide a certificate of destruction to the CorporationCompany. If the Corporation Company shall acquire any of the Securities or CouponsSecurities, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities or Coupons unless and until the same are delivered to the Trustee for cancellation.