Common use of Lost Promissory Note Clause in Contracts

Lost Promissory Note. Upon receipt of evidence reasonably satisfactory to Borrower of the ownership of and the loss, theft, destruction or mutilation of the Note and indemnification reasonably satisfactory to Borrower or, in the case of any mutilation, upon the surrender of such Note for cancellation to Borrower at its principal office, Borrower at its expense (except as provided below) will execute and deliver to Lender, in lieu thereof a new Note of like tenor, dated so that there will be no loss of interest on such lost, stolen, destroyed or mutilated Note. Borrower may require payment by Lender of a sum sufficient to cover any stamp tax or governmental charge imposed in respect of any such replacement. Any Note in lieu of which any such new Note has been so executed and delivered by Borrower shall not be deemed to be an outstanding Note for any purpose of this Agreement.

Lost Promissory Note. Upon receipt of evidence reasonably satisfactory to Borrower of the ownership of and the loss, theft, destruction or mutilation of the a Note and indemnification reasonably satisfactory to Borrower or, in the case of any mutilation, upon the surrender of such Note for cancellation to Borrower at its principal office, Borrower at its expense (except as provided below) will execute and deliver to a Lender, in lieu thereof a new Note of like tenor, dated so that there will be no loss of interest on such lost, stolen, destroyed or mutilated Note. Borrower may require payment by Lender of a sum sufficient to cover any stamp tax or governmental charge imposed in respect of any such replacement. Any Note in lieu of which any such new Note has been so executed and delivered by Borrower shall not be deemed to be an outstanding Note for any purpose of this Agreement.