Common use of Lost, Destroyed or Stolen Certificates Clause in Contracts

Lost, Destroyed or Stolen Certificates. Where a Member claims that a certificate of Membership Rights has been lost, destroyed or wrongfully taken, a new certificate shall be issued in place thereof if the Member (a) so requests before the corporation has notice that Membership Rights has been acquired by a bona fide purchaser, (b) files with the corporation a sufficient indemnity bond if required by the Board of Directors or any principal officer, and (c) satisfies such other reasonable requirements as may be prescribed by or under the authority of the Board of Directors.

Lost, Destroyed or Stolen Certificates. Where a Member claims that a certificate of Membership Rights membership has been lost, destroyed or wrongfully taken, a new certificate shall be issued in place thereof if the Member (a) so requests before the corporation has notice that Membership Rights membership has been acquired by a bona fide purchaser, (b) files with the corporation a sufficient indemnity bond if required by the Board of Directors or any principal officer, and (c) satisfies such other reasonable requirements as may be prescribed by or under the authority of the Board of Directors.

Lost, Destroyed or Stolen Certificates. Where a Member claims that a certificate of Membership Rights membership has been lost, destroyed or wrongfully taken, a new certificate shall be issued in place thereof if the Member (a) so requests before the corporation has notice that Membership Rights such membership has been acquired by a bona fide purchaser, (b) files with the corporation a sufficient indemnity bond if required by the Board of Directors or any principal officer, and (c) satisfies such other reasonable requirements as may be prescribed by or under the authority of the Board of Directors.