Common use of Destruction of Canceled Certificates Clause in Contracts

Destruction of Canceled Certificates. Whenever in this Trust Agreement provision is made for the surrender to or cancellation by the Trust Administrator and the delivery to the District of any Certificate, the Trust Administrator may, in lieu of such cancellation and delivery, destroy such Certificate and deliver a certificate of such destruction to the District.

Destruction of Canceled Certificates. Whenever in this Trust Agreement provision is made for the surrender to or cancellation by the Trust Administrator Trustee and the delivery to the District Lessee of any CertificateCertificates, the Trust Administrator Trustee may, upon the request of the Lessee Representative, in lieu of such cancellation and delivery, destroy such Certificate Certificates and deliver a certificate of such destruction to the DistrictLessee.

Destruction of Canceled Certificates. Whenever in this Trust Agreement provision is made for the surrender to or cancellation by the Trust Administrator Trustee and the delivery to the District Lessor of any CertificateCertificates, the Trust Administrator mayLessee’s Authorized Signatory, in lieu of such cancellation the County Treasurer or the Business Services Representative may request the Trustee to furnish to the Lessee, the Business Services Representative and delivery, destroy such Certificate and deliver the County Treasurer a certificate of destruction of such destruction to the DistrictCertificates, upon their destruction.