Common use of Loss of Note Clause in Contracts

Loss of Note. Upon receipt by the Borrower of evidence satisfactory to it of the loss, theft, destruction or mutilation of this Promissory Note or any Promissory Note exchanged for it, and indemnity satisfactory to the Borrower (in case of loss, theft or destruction) or surrender and cancellation of such Promissory Note (in the case of mutilation), the Borrower will make and deliver in lieu of such Promissory Note a new Note of like tenor.

Appears in 3 contracts

Samples: Revolving Line of Credit Note (Biolargo, Inc.), Revolving Line of Credit Note (Jerrick Media Holdings, Inc.), Revolving Line of Credit Note (Omnitek Engineering Corp)

AutoNDA by SimpleDocs

Loss of Note. Upon receipt by the Borrower of evidence satisfactory to it of the loss, theft, destruction or mutilation of this Promissory Note or any Promissory Note exchanged for it, and indemnity satisfactory to the Borrower (in case of loss, theft or destruction) or surrender and cancellation of such Promissory Note (in the case of mutilation), the Borrower will make and deliver in lieu of such Promissory Note a new Note of like tenor.

Appears in 2 contracts

Samples: Convertible Revolving Promissory Note (Advance Display Technologies Inc), Convertible Revolving Promissory Note (Advance Display Technologies Inc)

AutoNDA by SimpleDocs

Loss of Note. Upon receipt by the Borrower of evidence satisfactory to it of the loss, theft, destruction or mutilation of this Promissory Note or any Promissory Note exchanged for itNote, and indemnity satisfactory to the Borrower (in the case of loss, theft or destruction) or of reasonably satisfactory indemnification, and upon surrender and cancellation of such Promissory Note (in the case of mutilation)this Note, if mutilated, the Borrower will make execute and deliver in lieu of such Promissory Note a new Note of like tenortenor and date.

Appears in 1 contract

Samples: Secured Promissory Note (Comstock Mining Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!