Common use of Effect of Transfer or Exchange Clause in Contracts

Effect of Transfer or Exchange. All Notes issued upon any registration of transfer or exchange of Notes shall be the valid obligations of the Company evidencing the same obligations as the Notes surrendered upon such registration of transfer or exchange.

Effect of Transfer or Exchange. All Notes issued upon any registration of transfer or exchange of Notes shall be the valid obligations of the Company evidencing the same obligations respective obligations, and entitled to the same security and benefits under the Security Documents, as the Notes surrendered upon such registration of transfer or exchange. The Company shall not be required to register the transfer of or exchange any surrendered Note as above provided during the ten-day period preceding the due date of any payment of principal of or interest on such Note.