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

Lost, Stolen, Mutilated or Destroyed Trust Certificates. If (i) any mutilated Trust Certificate is surrendered to the Owner Trustee, or (ii) the Owner Trustee receives evidence to its satisfaction that any Trust Certificate has been destroyed, lost or stolen, and upon proof of ownership satisfactory to the Owner Trustee together with such security or indemnity as may be requested by the Owner Trustee to hold it harmless, the Owner Trustee shall execute and deliver a new Trust Certificate representing the same Ownership Percentage as the Trust Certificate so mutilated, destroyed, lost or stolen, bearing a different certificate number, with such notations, if any, as the Owner Trustee shall determine. Any duplicate Trust Certificate issued pursuant to this Section 4.04 shall constitute complete and indefeasible evidence of ownership of such Trust Certificate, as if originally issued, whether or not the lost, stolen or destroyed Trust Certificate shall be found at any time.

Appears in 4 contracts

Samples: Trust Agreement (Medallion Financial Corp), Trust Agreement (Medallion Financial Corp), Trust Agreement (Medallion Financial Corp)

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Lost, Stolen, Mutilated or Destroyed Trust Certificates. If (i) any ------------------------------------------------------- mutilated Trust Certificate is surrendered to the Owner Trustee, or (ii) the Owner Trustee receives evidence to its satisfaction that any Trust Certificate has been destroyed, lost or stolen, and upon proof of ownership satisfactory to the Owner Trustee together with such security or indemnity as may be requested by the Owner Trustee to hold save it harmless, the Owner Trustee shall execute and deliver a new Trust Certificate representing the same Ownership Percentage as the Trust Certificate so mutilated, destroyed, lost or stolen, bearing a different certificate number, with such notations, if any, as the Owner Trustee shall determine. Any duplicate Trust Certificate issued pursuant to this Section 4.04 shall constitute complete and indefeasible evidence of ownership of such Trust Certificatethe Trust, as if originally issued, whether or not the lost, stolen or destroyed Trust Certificate shall be found at any time.

Appears in 1 contract

Samples: Trust Agreement (Jv Capital Trust)

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