Issuance of New Securities. (a) If any mutilated Security is surrendered to the Issuer, the Issuer shall execute and deliver in exchange therefor a new Security of like tenor and principal amount, bearing a number not contemporaneously outstanding. (b) If there is delivered to the Issuer (a) evidence to its reasonable satisfaction of the destruction, loss or theft of any Security and (b) such reasonable security or indemnity as may be required by it to save it harmless, then, in the absence of notice to the Issuer that such Security has been acquired by a bona fide purchaser, the Issuer shall execute and deliver in lieu of any such destroyed, lost or stolen Security a new Security of like tenor and principal amount and bearing a number not contemporaneously outstanding. (c) Upon the issuance of any new Security under this Section 13, the Issuer may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses connected therewith. (d) Any new Security delivered pursuant to this Section 13 shall be so dated that neither gain nor loss in interest shall result from such exchange. (e) The provisions of this Section 13 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities.
Appears in 3 contracts
Samples: Convertible Subordinated Debenture (Williams Controls Inc), Subordination Agreement (Williams Controls Inc), Subordination Agreement (Williams Controls Inc)
Issuance of New Securities. (a) If any mutilated Security is surrendered to the Issuer, the Issuer shall execute and deliver in exchange therefor a new Security of like tenor and principal amount, bearing a number not contemporaneously outstanding.
(b) If there is delivered to the Issuer (a) evidence to its reasonable satisfaction of the destruction, loss or theft of any Security and (b) such reasonable security or indemnity as may be required by it to save it harmless, then, in the absence of notice to the Issuer that such Security has been acquired by a bona fide purchaser, the Issuer shall execute and deliver in lieu of any such destroyed, lost or stolen Security a new Security of like tenor and principal amount and bearing a number not contemporaneously outstanding.
(c) Upon the issuance of any new Security under this Section 1312, the Issuer may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses connected therewith.
(d) Any new Security delivered pursuant to this Section 13 12 shall be so dated that neither gain nor loss in interest shall result from such exchange.
(e) The provisions of this Section 13 12 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities.
Appears in 3 contracts
Samples: Convertible Debenture (UHF Inc), Convertible Debenture (UHF Inc), Convertible Debenture (Target Acquisitions I, Inc.)
Issuance of New Securities. (a) If any mutilated Security Debenture is surrendered to the IssuerCompany, the Issuer Company shall execute and deliver in exchange therefor a new Security Debenture of like tenor and principal amount, bearing a number not contemporaneously outstanding.
(b) If there is delivered to the Issuer Company (a) evidence to its reasonable satisfaction of the destruction, loss or theft of any Security Debenture and (b) such reasonable security Debenture or indemnity as may be required by it to save it harmless, then, in the absence of notice to the Issuer Company that such Security Debenture has been acquired by a bona fide bonafide purchaser, the Issuer Company shall execute and deliver in lieu of any such destroyed, lost or stolen Security Debenture a new Security Debenture of like tenor and principal amount and bearing a number not contemporaneously outstanding.
(c) Upon the issuance of any new Security Debenture under this Section 139, the Issuer Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses connected therewith.
(d) Any new Security Debenture delivered pursuant to this Section 13 9 shall be so dated that neither gain nor loss in interest shall result from such exchange.
(e) The provisions of this Section 13 9 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities.
Appears in 2 contracts
Samples: Debenture Agreement (Williams Controls Inc), Debenture (Williams Controls Inc)