Certificates Mutilated, Destroyed, Stolen or Lost. In case any Certificate shall become mutilated or be destroyed, stolen or lost, the Trustee shall execute and deliver a new Certificate in exchange and substitution therefor upon the Unit Holder's furnishing the Trustee with proper identification and indemnity satisfactory to the Trustee, complying with such other reasonable regulations and conditions as the Trustee may prescribe and paying such expenses as the Trustee may incur. Any mutilated Certificate shall be duly surrendered and cancelled before any new Certificate shall be issued in exchange and substitution therefor. Upon the issuance of any new Certificate a sum sufficient to pay any tax or other governmental charge will be imposed and payment of the fees and expenses of the Trustee may be required. Any such new Certificate issued pursuant to this Section shall constitute complete and indefeasible evidence of ownership in the Trust, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time. In the event the Trust has terminated or is in the process of termination, the Trustee may, instead of issuing a new Certificate in exchange and substitution for any Certificate which shall have become mutilated or shall have been destroyed, stolen or lost, make the distributions in respect of each mutilated, destroyed, stolen or lost Certificate (without surrender thereof except in the case of a mutilated Certificate) as provided in Section 9.03 hereof if the Trustee is furnished with such security or indemnity as it may require to save it harmless, and in the case of destruction, loss or theft of a Certificate, evidence to the satisfaction of the Trustee of the destruction, loss or theft of such Certificate and of the ownership thereof.
Appears in 2 contracts
Samples: Trust Indenture and Agreement (Government Securities Equity Trust Series 12), Trust Indenture and Agreement (Government Securities Equity Trust Series 11)
Certificates Mutilated, Destroyed, Stolen or Lost. In case any Certificate shall become mutilated or be destroyed, stolen or lost, the Trustee shall execute and deliver a new Certificate in exchange and substitution therefor upon the Unit Holderholder's furnishing the Trustee with proper identification and indemnity satisfactory to the Trustee, complying with such other reasonable regulations and conditions as the Trustee may prescribe and paying such expenses as the Trustee may incur. Any mutilated Certificate shall be duly surrendered and cancelled before any new Certificate shall be issued in exchange and substitution therefor. Upon the issuance of any new Certificate a sum sufficient to pay any tax or other governmental charge will be imposed and payment of the fees and expenses of the Trustee may be requiredimposed. Any such new Certificate issued pursuant to this Section shall constitute complete and indefeasible evidence of ownership in the TrustTrust Fund, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time. In the event the Trust Fund has terminated or is in the process of termination, the Trustee may, instead of issuing a new Certificate certificate in exchange and substitution for any Certificate which shall have become mutilated or shall have been destroyed, stolen or lost, make the distributions in respect of each such mutilated, destroyed, stolen or lost Certificate (without surrender thereof except in the case of a mutilated Certificate) Certificate as provided in Section 9.03 hereof 9.2 hereof) if the Trustee is furnished with such security or indemnity as it may require to save it harmless, and in the case of destruction, loss or theft of a Certificate, evidence to the satisfaction of the Trustee of the destruction, loss or theft of such Certificate and of the ownership thereof.
Appears in 2 contracts
Samples: Trust Indenture and Agreement (Empire State Municipal Exempt Trust Guaranteed Series 182), Special Situations (Glickenhaus Special Situations Trust Series 1)
Certificates Mutilated, Destroyed, Stolen or Lost. In case any Certificate shall become mutilated or be destroyed, stolen or lost, the Trustee shall execute and deliver a new Certificate in exchange and substitution therefor upon the Unit Holderholder's furnishing the Trustee with proper identification and indemnity satisfactory to the Trustee, and complying with such other reasonable regulations and conditions as the Trustee may prescribe and paying such expenses as the Trustee may incur. Any mutilated Certificate shall be duly surrendered and cancelled canceled before any new Certificate shall be issued in exchange and substitution therefor. Upon the issuance of any new Certificate a sum sufficient to pay any tax or other governmental charge will be imposed and payment of the fees and expenses of the Trustee may be requiredimposed. Any such new Certificate issued pursuant to this Section shall constitute complete and indefeasible evidence of ownership in the Trust, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time. In the event the Trust has terminated or is in the process of termination, the Trustee may, instead of issuing a new Certificate in exchange and substitution for any Certificate which shall have become mutilated or shall have been destroyed, stolen or lost, make the distributions in respect of each such mutilated, destroyed, stolen or lost Certificate (without surrender thereof except in the case of a mutilated Certificate) as provided in Section 9.03 9.2 hereof if the Trustee is furnished with such security or indemnity as it may require to save it harmless, and in the case cause of destruction, loss or theft of a Certificate, evidence to the satisfaction of the Trustee of the destruction, loss or theft of such Certificate and of the ownership thereof.
Appears in 1 contract
Samples: Indenture and Agreement (Equity Securities Trust Series 6)
Certificates Mutilated, Destroyed, Stolen or Lost. In in case any Certificate shall become mutilated or be destroyed, stolen or lost, the Trustee shall execute and deliver a new Certificate in exchange and substitution therefor upon the Unit Holder's furnishing the Trustee with proper identification and indemnity satisfactory to the Trustee, complying with such other reasonable regulations and conditions as the Trustee may prescribe and paying such expenses as the Trustee may incur. Any mutilated Certificate shall be duly surrendered and cancelled before any new Certificate shall be issued in exchange and substitution therefor. Upon the issuance of any new Certificate a sum sufficient to pay any tax or other governmental charge will be imposed and payment of the fees and expenses of the Trustee may be required. Any such new Certificate issued pursuant to this Section shall constitute complete and indefeasible evidence of ownership in the Trust, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time. In the event the Trust has terminated or is in the process of termination, the Trustee may, instead of issuing a new Certificate in exchange and substitution for any Certificate which shall have become mutilated or shall have been destroyed, stolen or lost, make the distributions in respect of each mutilated, destroyed, stolen or lost Certificate (without surrender thereof except in the case of a mutilated Certificate) as provided in Section 9.03 hereof if the Trustee is furnished with such security or indemnity as it may require to save it harmless, and in the case of destruction, loss or theft of a Certificate, evidence to the satisfaction of the Trustee of the destruction, loss or theft of such Certificate and of the ownership thereof.
Appears in 1 contract
Samples: Trust Indenture and Agreement (Government Securities Equity Trust Series 8)
Certificates Mutilated, Destroyed, Stolen or Lost. In case any Certificate shall become mutilated or be destroyed, stolen or lost, the Trustee shall execute and deliver a new Certificate in exchange and substitution therefor upon the Unit Holderholder's furnishing the Trustee with proper identification and indemnity satisfactory to the Trustee, complying with such other reasonable regulations and conditions as the Trustee may -35- 433559.1 prescribe and paying such expenses as the Trustee may incur. Any mutilated Certificate shall be duly surrendered and cancelled before any new Certificate shall be issued in exchange and substitution therefor. Upon the issuance of any new Certificate a sum sufficient to pay any tax or other governmental charge will be imposed and payment of the fees and expenses of the Trustee may be requiredimposed. Any such new Certificate issued pursuant to this Section shall constitute complete and indefeasible evidence of ownership in the TrustTrust Fund, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time. In the event the Trust Fund has terminated or is in the process of termination, the Trustee may, instead of issuing a new Certificate certificate in exchange and substitution for any Certificate which shall have become mutilated or shall have been destroyed, stolen or lost, make the distributions in respect of each such mutilated, destroyed, stolen or lost Certificate (without surrender thereof except in the case of a mutilated Certificate) Certificate as provided in Section 9.03 hereof 9.2 hereof) if the Trustee is furnished with such security or indemnity as it may require to save it harmless, and in the case of destruction, loss or theft of a Certificate, evidence to the satisfaction of the Trustee of the destruction, loss or theft of such Certificate and of the ownership thereof.
Appears in 1 contract
Samples: Trust Indenture and Agreement (Empire State Municipal Exempt Trust Guaranteed Series 134)
Certificates Mutilated, Destroyed, Stolen or Lost. In case any Certificate shall become mutilated or be destroyed, stolen or lost, the Trustee shall execute and deliver a new Certificate in exchange and substitution therefor upon the Unit Holder's furnishing the Trustee with proper identification and indemnity satisfactory to the Trustee, complying with such other reasonable regulations and conditions as the Trustee may prescribe and paying such expenses as the Trustee may incur. Any mutilated Certificate shall be duly surrendered and cancelled before any new Certificate shall be issued in exchange and substitution therefor. Upon the issuance of any new Certificate a sum sufficient to pay any tax or other governmental charge will be imposed and payment of the fees and expenses of the Trustee may be required. Any such new Certificate issued pursuant to this Section shall constitute complete and indefeasible evidence of ownership in the Trust, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time. In the event the Trust has terminated or is in the process of termination, the Trustee may, instead of issuing a new Certificate in exchange and substitution for any Certificate which shall have become mutilated or shall have been destroyed, stolen or lost, make the distributions in respect of each mutilated, destroyed, stolen or lost Certificate (without surrender surren- der thereof except in the case of a mutilated Certificate) as provided in Section 9.03 hereof if the Trustee is furnished with such security or indemnity as it may require to save it harmless, and in the case of destruction, loss or theft of a Certificate, evidence to the satisfaction of the Trustee of the destruction, loss or theft of such Certificate and of the ownership thereof.
Appears in 1 contract
Samples: Trust Indenture and Agreement (Government Securities Equity Trust Series 10)
Certificates Mutilated, Destroyed, Stolen or Lost. In case any Certificate shall become mutilated or be destroyed, stolen or lost, the Trustee shall execute and deliver a new Certificate or, at the Certificated Unitholder's written request in a form satisfactory to the Trustee to thereafter hold the Units in a Book Entry Position, enter an equivalent Book Entry Position on the records of the Trustee pursuant to Section 4.03 in exchange and substitution therefor upon the Unit HolderUnitholder's furnishing the Trustee with proper identification and indemnity satisfactory to the Trusteeindemnity, complying with such other reasonable regulations and conditions as the Trustee may prescribe and paying such expenses as the Trustee may incur. Any mutilated Certificate shall be duly surrendered and cancelled before any new Certificate or Book Entry Position shall be issued or recorded in exchange and substitution therefor. Upon the issuance of any new Certificate or recording of any Book Entry Position on the books of the Trustee a sum sufficient to pay any tax or other governmental charge will be imposed and payment of the fees and expenses of the Trustee may be requiredimposed. Any such new Certificate issued or Book Entry Position recorded on the books of the Trustee pursuant to this Section shall constitute complete and indefeasible evidence of ownership of Units in the related Trust, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time. .; In the event the related Trust has terminated or is in the process of termination, the Trustee may, instead of issuing a new Certificate or recording of a Book Entry Position in exchange and substitution for any Certificate which shall have become mutilated or shall have been destroyed, stolen or lost, make the distributions in respect of each such mutilated, destroyed, stolen or lost Certificate (without surrender thereof except in the case of a mutilated Certificate) as provided in Section 9.03 7.02 hereof if the Trustee is furnished with such security or indemnity as it may require to save it harmless, and in the case of destruction, loss or theft of a Certificate, evidence to the satisfaction of the Trustee of the destruction, loss or theft of such Certificate and of the ownership thereof.
Appears in 1 contract
Certificates Mutilated, Destroyed, Stolen or Lost. In case any Certificate shall become mutilated or be destroyed, stolen or lost, the Trustee shall execute and deliver a new Certificate of the Trust Fund in exchange and substitution therefor upon the Unit Holderholder's furnishing the Trustee with proper identification and indemnity satisfactory to the Trustee, complying with such other reasonable regulations and conditions as the Trustee may prescribe and paying such expenses as the Trustee may incur. Any mutilated Certificate shall be duly surrendered and cancelled before any new Certificate shall be issued in exchange and substitution therefor. Upon the issuance of any new Certificate Certificate, a sum sufficient to pay any tax or other governmental charge will be imposed and payment of the fees and expenses of the Trustee may be requiredimposed. Any such new Certificate issued pursuant to this Section shall constitute complete and indefeasible evidence of ownership in the TrustTrust Fund, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time. In the event the Trust Fund has terminated or is in the process of termination, the Trustee may, instead of issuing a new Certificate in exchange and substitution for any Certificate which shall have become mutilated or shall have been destroyed, stolen or lost, make the distributions in respect of each such mutilated, destroyed, stolen or lost Certificate (without surrender thereof except in the case of a mutilated Certificate) as provided in Section 9.03 9.02 hereof if the Trustee is furnished with such security or indemnity as it may require to save it harmless, and in the case of destruction, loss or theft of a Certificate, evidence to the satisfaction of the Trustee of the destruction, loss or theft of such Certificate and of the ownership thereof.
Appears in 1 contract
Samples: Trust Indenture and Agreement (Voyageur Unit Investment Trust Series 1)
Certificates Mutilated, Destroyed, Stolen or Lost. In case any Certificate shall become mutilated or be destroyed, stolen or lost, the Trustee shall execute authenticate and deliver a new Certificate of like interest rate, maturity, principal amount and other terms as the Certificate so mutilated, destroyed, stolen or lost, either (i) in exchange and substitution therefor for such mutilated Certificate, upon surrender and cancellation of such mutilated Certificate, or (ii) in lieu of and substitution for the Unit Holder's Certificate destroyed, stolen or lost, upon filing with the Trustee evidence satisfactory to the Trustee that such Certificate has been destroyed, stolen or lost and proof of ownership thereof and upon furnishing the Trustee with proper identification such security or indemnity as may be required by the Trustee to save it harmless from all risks, however remote. The person requesting the authentication and indemnity satisfactory delivery of a new Certificate pursuant to the Trustee, complying this Section shall comply with such other reasonable regulations and conditions as the Trustee may prescribe and paying pay such expenses as the Trustee may incurincur in connection therewith. Any mutilated Certificate All Certificates so surrendered to the Trustee shall be duly surrendered cancelled by it. The Trustee may authenticate any Certificate issued upon such exchange or substitution and cancelled before any new delivery such Certificate shall be issued in exchange and substitution thereforupon the written request or authorization of a State Representative. Upon the issuance of any new Certificate upon such exchange or substitution, the State may require the payment by the Certificate Holder of a sum sufficient to pay cover any tax or other governmental charge will that may be imposed in relation thereto and payment of the any other expenses, including counsel fees and expenses of the Trustee may be required. Any such new Certificate issued pursuant to this Section shall constitute complete State and indefeasible evidence of ownership in the Trust, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time. In the event the Trust has terminated or is in the process of termination, the Trustee may, instead of issuing a new Certificate in exchange and substitution for any Certificate which shall have become mutilated or shall have been destroyed, stolen or lost, make the distributions in respect of each mutilated, destroyed, stolen or lost Certificate (without surrender thereof except in the case of a mutilated Certificate) as provided in Section 9.03 hereof if the Trustee is furnished with such security or indemnity as it may require to save it harmless, and in the case of destruction, loss or theft of a Certificate, evidence to the satisfaction of the Trustee of the destruction, loss or theft of such Certificate and of the ownership thereofTrustee.
Appears in 1 contract
Samples: Participation Trust Agreement
Certificates Mutilated, Destroyed, Stolen or Lost. In case any Certificate shall become mutilated or be destroyed, stolen or lost, the Trustee shall execute and deliver a new Certificate in exchange and substitution therefor upon the Unit Holderholder's furnishing the Trustee with proper identification and indemnity satisfactory to the Trustee, complying with such other reasonable regulations and conditions as the Trustee may prescribe and paying such expenses as the Trustee may incur. Any mutilated Certificate shall be duly surrendered and cancelled before any new Certificate shall be issued in exchange and substitution therefor. Upon the issuance of any new Certificate a sum sufficient to pay any tax or other governmental charge will be imposed and payment of the fees and expenses of the Trustee may be required. Any such new Certificate issued is- sued pursuant to this Section shall constitute complete and indefeasible evidence of ownership in the Trust, as if originally issuedis sued, whether or not the lost, stolen or destroyed Certificate shall be found at any time. In the event the Trust has terminated or is in the process of termination, the Trustee may, instead of issuing a new Certificate in exchange and substitution for any Certificate which shall have become mutilated or shall have been destroyed, stolen or lost, make the distributions in respect of each such mutilated, destroyed, stolen or lost Certificate (without surrender thereof except in the case of a mutilated Certificate) as provided in Section 9.03 hereof if the Trustee is furnished with such security or indemnity as it may require to save it harmless, and in the case of destruction, loss or theft of a Certificate, evidence to the satisfaction of the Trustee of the destruction, loss or theft of such Certificate and of the ownership thereof.
Appears in 1 contract
Samples: Trust Indenture and Agreement (Morgan Stanley Dean Wit Sel Equity Tr 5 Industrial 2000-2)
Certificates Mutilated, Destroyed, Stolen or Lost. In case any Certificate shall become mutilated or be destroyed, stolen or lost, the Trustee shall execute and deliver a new Certificate in exchange and substitution therefor upon the Unit Holderholder's furnishing the Trustee with proper identification identifi- cation and indemnity satisfactory to the Trustee, complying with such other reasonable regulations and conditions as the Trustee may prescribe and paying such expenses as the Trustee may incur. Any mutilated Certificate shall be duly surrendered and cancelled before any new Certificate shall be issued in exchange and substitution therefor. Upon the issuance of any new Certificate a sum sufficient to pay any tax or other governmental charge will be imposed and payment of the fees and expenses of the Trustee may be required. Any such new Certificate issued pursuant to this Section shall constitute complete and indefeasible evidence of ownership in the Trust, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time. In the event the Trust has terminated or is in the process of termination, the Trustee may, instead of issuing a new Certificate in exchange and substitution for any Certificate which shall have become mutilated or shall have been destroyed, stolen or lost, make the distributions in respect of each such mutilated, destroyed, stolen or lost Certificate (without surrender thereof except in the case of a mutilated Certificate) as provided in Section 9.03 hereof if the Trustee is furnished with such security or indemnity as it may require to save it harmless, and in the case of destruction, loss or theft of a Certificate, evidence to the satisfaction of the Trustee of the destruction, loss or theft of such Certificate and of the ownership thereof.
Appears in 1 contract
Samples: Trust Indenture and Agreement (Morgan Stanley Dean Wit Sel Equity Tr 10 Industrial 2000-2)
Certificates Mutilated, Destroyed, Stolen or Lost. In case any Certificate shall become mutilated or be destroyed, stolen or lost, the Trustee shall execute and deliver a new Certificate or, at the Certificated Unitholder's written request in a form satisfactory to the Trustee to thereafter hold the Units in a Book Entry Position, enter an equivalent Book Entry Position on the records of the Trustee pursuant to Section 4.03 in exchange and substitution therefor upon the Unit HolderUnitholder's furnishing the Trustee with proper identification and indemnity satisfactory to the Trusteeindemnity, complying with such other reasonable regulations and conditions as the Trustee may prescribe and paying such expenses as the Trustee may incur. Any mutilated Certificate shall be duly surrendered and cancelled before any new Certificate or Book Entry Position shall be issued or recorded in exchange and substitution therefor. Upon the issuance of any new Certificate or recording of any Book Entry Position on the books of the Trustee a sum sufficient to pay any tax or other governmental charge will be imposed and payment of the fees and expenses of the Trustee may be requiredimposed. Any such new Certificate issued or Book Entry Position recorded on the books of the Trustee pursuant to this Section shall constitute complete and indefeasible evidence of ownership of Units in the related Trust, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time. In the event the related Trust has terminated or is in the process of termination, the Trustee may, instead of issuing a new Certificate or recording of a Book Entry Position in exchange and substitution for any Certificate which shall have become mutilated or shall have been destroyed, stolen or lost, make the distributions in respect of each such mutilated, destroyed, stolen or lost Certificate (without surrender thereof except in the case of a mutilated Certificate) as provided in Section 9.03 7.02 hereof if the Trustee is furnished with such security or indemnity as it may require to save it harmless, and in the case of destruction, loss or theft of a Certificate, evidence to the satisfaction of the Trustee of the destruction, loss or theft of such Certificate and of the ownership thereof.
Appears in 1 contract
Samples: Nuveen Unit Trusts Series 1
Certificates Mutilated, Destroyed, Stolen or Lost. In in case any Certificate shall become mutilated or be destroyed, stolen or lost, the Trustee shall execute and deliver a new Certificate in exchange and substitution therefor upon the Unit Holderholder's furnishing the Trustee with proper identification and indemnity satisfactory to the Trustee, complying with such other reasonable regulations and conditions as the Trustee may prescribe and paying such expenses as the Trustee may incur. Any mutilated Certificate shall be duly surrendered and cancelled before any new Certificate shall be issued in exchange and substitution therefor. Upon the issuance of any new Certificate a sum sufficient to pay any tax or other governmental charge will be imposed and payment of the fees and expenses of the Trustee may be required. Any such new Certificate issued pursuant to this Section shall constitute complete and indefeasible evidence of ownership in the Trust, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time. In the event the Trust has terminated or is in the process of termination, the Trustee may, instead of issuing a new Certificate in exchange and substitution for any Certificate which shall have become mutilated or shall have been destroyed, stolen or lost, make the distributions in respect of each such mutilated, destroyed, stolen or lost Certificate (without surrender thereof except in the case of a mutilated Certificate) as provided in Section 9.03 9.02 hereof if the Trustee is furnished with such security or indemnity as it may require to save it harmless, and in the case of destruction, loss or theft of a Certificate, evidence to the satisfaction of the Trustee of the destruction, loss or theft of such Certificate and of the ownership thereof.
Appears in 1 contract
Samples: Trust Indenture and Agreement (National Municipal Trust Series 164)
Certificates Mutilated, Destroyed, Stolen or Lost. In case If any temporary or definitive Certificate shall become mutilated or be destroyed, stolen lost or loststolen, the Trustee Trustee, upon the request of the State shall execute execute, authenticate and deliver deliver, a new Certificate in exchange for the mutilated Certificate, or in lieu of and substitution therefor for the Certificate so destroyed, lost or stolen. In every case of exchange or substitution, the applicant shall furnish to the State and the Trustee (i) evidence to their satisfaction of the mutilation, destruction, loss or theft of the applicant’s Certificate and of the ownership thereof and (ii) in the case of any destroyed, lost or stolen Certificate, such security or indemnity as may be required by them to save each of them harmless from all risks, however remote. The Trustee may authenticate any Certificate issued upon such exchange or substitution and deliver such Certificate upon the Unit Holder's furnishing the Trustee with proper identification and indemnity satisfactory to the Trustee, complying with such other reasonable regulations and conditions as the Trustee may prescribe and paying such expenses as the Trustee may incur. Any mutilated Certificate shall be duly surrendered and cancelled before any new Certificate shall be issued in exchange and substitution thereforwritten request or authorization of a State Representative. Upon the issuance of any new Certificate upon such exchange or substitution, the State may require the payment by the Certificate Holder of a sum sufficient to pay cover any tax or other governmental charge will that may be imposed in relation thereto and payment any other expenses, including counsel fees of the fees State and expenses of the Trustee may be requiredTrustee. Any such new If any Certificate issued pursuant to this Section shall constitute complete and indefeasible evidence of ownership in the Trust, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time. In the event the Trust that has terminated matured or is in the process of terminationabout to mature shall become mutilated or be destroyed, the Trustee maylost or stolen, instead of issuing a new Certificate in exchange and or substitution for any Certificate which shall have become mutilated or shall have been destroyedtherefor, stolen or lost, make the distributions in respect State may authorize the payment of each mutilated, destroyed, stolen or lost such Certificate (without surrender thereof except in the case of a mutilated Certificate) as provided in Section 9.03 hereof if the applicant for such payment shall furnish to the State and the Trustee is furnished with such security or indemnity as it may require to save it harmless, and in the case of destruction, loss or theft of a Certificate, evidence to the their satisfaction of the Trustee of the mutilation, destruction, loss or theft of such Certificate and of the ownership thereofthereof and, in the case of any destroyed, lost or stolen Certificate, such security or indemnity as they may require to save each of them harmless. Every Certificate issued pursuant to the provisions of this Section in exchange or substitution for any Certificate that is mutilated, destroyed, lost or stolen shall constitute an additional contractual obligation of the State, whether or not the destroyed, lost or stolen Certificate shall be found at any time, or be enforceable by anyone, and shall be entitled to all the benefits hereof equally and proportionately with any and all other Certificates duly issued under this Trust Agreement. All Certificates shall be held and owned upon the express condition that the foregoing provisions are exclusive with respect to the replacement or payment of mutilated, destroyed, lost or stolen Certificates, and shall preclude any and all other rights or remedies, notwithstanding any law or statute existing or hereafter enacted to the contrary with respect to the replacement or payment of negotiable instruments or other securities without their surrender.
Appears in 1 contract