Common use of Cancellation of Series 20 Bonds Clause in Contracts

Cancellation of Series 20 Bonds. If the Owner of any Series 20__ Bonds presents that Bond to the Trustee with an instrument satisfactory to the Trustee waiving all claims for payment of that Bond, the Trustee shall cancel that Series 20 Bond and the Bondholder shall have no further claim against the Trust Estate, the Issuer, or the Borrower with respect to that Series 20__ Bond.