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

Mutilated, Destroyed, Stolen or Lost Bonds. If: (a) any mutilated Bond is surrendered to the Trustee or the Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond; and (b) there is delivered to the Trustee, the Authority, the Borrower and the Letter of Credit Issuer, such security or indemnity as may be required by the Trustee, the Authority, the Borrower and the Letter of Credit Issuer to save the Trustee, the Authority, the Borrower and the Letter of Credit Issuer harmless, then, in the absence of notice to the Authority, the Borrower, the Letter of Credit Issuer or the Trustee that such Bond has been acquired by a bona fide purchaser, the Authority shall execute and upon its request the Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, stolen or lost Bond, a new Bond or Bonds of the same tenor, aggregate principal amount, maturity and interest rate and bearing a number not contemporaneously outstanding; provided, however, that if any such mutilated, destroyed, lost or stolen Bond shall have become or shall be about to become due and payable, or shall have become subject to redemption in full, instead of issuing a new Bond, the Authority may pay such Bond without surrender thereof, except that any mutilated Bond shall be surrendered. If, after the delivery of such new Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso in the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such new Bond was issued presents for payment such original Bond, the Authority, the Letter of Credit Issuer, the Borrower and the Trustee shall be entitled to recover such new Bond (or such payment) from the person to whom it was delivered or any person taking such new Bond from such person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any damage, loss, cost or expenses incurred by the Authority, the Borrower, the Letter of Credit Issuer or the Trustee in connection therewith. ---Subject to the provisions of the first paragraph of this Section 210, every Bond issued pursuant to the provisions of this Section in exchange or substitution for any Bond which is mutilated, destroyed, stolen or lost shall constitute an additional contractual obligation of the Authority, whether or not the destroyed, stolen or lost Bond shall be found at any time, or be enforceable by anyone, and shall be entitled to all the benefits of this Agreement equally and proportionately with any and all other Bonds duly issued under this Agreement. All Bonds shall be held and owned upon the express condition that the foregoing provisions are exclusive with respect to the replacement or payment of mutilated, destroyed, stolen or lost Bonds, and shall preclude any and all other rights or remedies, notwithstanding any law or statute existing or hereafter enacted to the contrary with respect to the replacement or payment of negotiable instruments or other securities without their surrender. ---Upon the issuance of any new Bond under this Section, the Trustee 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 reasonable expenses (including the fees and expenses of the Trustee) connected therewith.

Mutilated, Destroyed, Stolen or Lost Bonds. If: (a) In case any Bond secured hereby shall become mutilated Bond is surrendered to the Trustee or the Trustee receives evidence to its satisfaction of the destructionbe destroyed, loss stolen or theft of any Bond; and (b) there is delivered to the Trusteelost, the AuthorityDistrict shall cause to be executed, the Borrower and the Letter of Credit Issuer, such security or indemnity as may be required by the Trustee, the Authority, the Borrower and the Letter of Credit Issuer to save the Trustee, the Authority, the Borrower and the Letter of Credit Issuer harmless, then, in the absence of notice to the Authority, the Borrower, the Letter of Credit Issuer or the Trustee that such Bond has been acquired by a bona fide purchaser, the Authority shall execute and upon its request the Trustee Registrar shall authenticate and deliver, a new Bond of like date and tenor in exchange and substitution for and upon the cancellation of such mutilated Bond or in lieu of any and in substitution for such mutilated, Bond destroyed, stolen or lost Bondlost, a new Bond or Bonds and the Holder shall pay the reasonable expenses and charges (including reasonable attorney’s fees, costs and expenses) of the same tenorDistrict and the Bond Registrar in connection therewith and, aggregate principal amount, maturity and interest rate and bearing in case of a number not contemporaneously outstanding; provided, however, that if any such mutilated, Bond destroyed, lost stolen or stolen Bond shall have become or shall be about to become due and payable, or shall have become subject to redemption in full, instead of issuing a new Bondlost, the Authority may pay Holder shall file with the Bond Registrar evidence satisfactory to it and to the District that such Bond without surrender thereof, except that any mutilated Bond shall be surrendered. If, after the delivery of such new Bond or payment of a was destroyed, lost stolen or stolen Bond pursuant to the proviso in the preceding sentencelost, a bona fide purchaser and of the original Bond in lieu of which such new Bond was issued presents for payment such original Bond, the Authority, the Letter of Credit Issuer, the Borrower and the Trustee shall be entitled to recover such new Bond (or such payment) from the person to whom it was delivered or any person taking such new Bond from such person, except a bona fide purchaserhis ownership thereof, and shall be entitled furnish the District and the Bond Registrar indemnity satisfactory to recover upon the security or indemnity provided therefor to the extent of any damage, loss, cost or expenses incurred by the Authority, the Borrower, the Letter of Credit Issuer or the Trustee in connection therewiththem. ---Subject to the provisions of the first paragraph of this Section 210, every Every Bond issued pursuant to the provisions of this Section 211 in exchange or substitution for any Bond which is mutilated, destroyed, stolen or lost shall constitute an additional contractual obligation of the AuthorityDistrict, whether or not the destroyed, stolen or lost Bond shall be found at any time, or be enforceable by anyone, and shall be entitled to all the benefits of this Agreement hereof equally and proportionately with any and all other Bonds duly issued under this Trust Agreement. All Bonds shall be held and owned upon the express condition that the foregoing provisions are exclusive with respect to the replacement or payment of mutilated, destroyed, stolen or lost Bonds, and shall preclude any and all other rights or remedies, notwithstanding any law or statute existing or hereafter enacted to the contrary with respect to the replacement or payment of negotiable instruments or other securities without their surrender. ---Upon the issuance (End of any new Bond under this Section, the Trustee 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 reasonable expenses (including the fees and expenses of the Trustee) connected therewith.Article II)

Mutilated, Destroyed, Stolen or Lost Bonds. If: (a) In case any Bond shall become mutilated Bond is surrendered in respect of the body of such Bond, or shall be believed by the Agency to have been destroyed, stolen or lost, upon proof of ownership satisfactory to the Trustee or the Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond; Agency and (b) there is delivered to the Trustee, and upon the Authoritysurrender of such mutilated Bond at the Principal Corporate Trust Office, or upon the Borrower receipt of evidence satisfactory to the Agency and the Letter Trustee of Credit Issuersuch destruction, such security theft or loss, and upon receipt also of indemnity as may be required by satisfactory to the Agency and the Trustee, and upon payment of all expenses incurred by the AuthorityAgency and the Trustee in the premises, the Borrower and the Letter of Credit Issuer to save the Trustee, the Authority, the Borrower and the Letter of Credit Issuer harmless, then, in the absence of notice to the Authority, the Borrower, the Letter of Credit Issuer or the Trustee that such Bond has been acquired by a bona fide purchaser, the Authority Agency shall execute and upon its request the Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, stolen or lost Bond, deliver at said Principal Corporate Trust Office a new Bond or Bonds of the same tenor, maturity and for the same aggregate principal amount, maturity of like tenor and interest rate date, with such notations as the Agency shall determine, in exchange and bearing a number not contemporaneously outstanding; provided, however, that if any such mutilated, destroyed, lost or stolen Bond shall have become or shall be about to become due substitution for and payableupon cancellation of the mutilated Bond, or shall have become subject to redemption in full, instead of issuing a new Bond, the Authority may pay such Bond without surrender thereof, except that any mutilated Bond shall be surrendered. If, after the delivery of such new Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso in the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such new Bond was issued presents for payment such original Bond, the Authority, the Letter of Credit Issuer, the Borrower and the Trustee shall be entitled to recover such new Bond (or such payment) from the person to whom it was delivered or any person taking such new Bond from such person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any damage, loss, cost or expenses incurred by the Authority, the Borrower, the Letter of Credit Issuer or the Trustee in connection therewith. ---Subject to the provisions of the first paragraph of this Section 210, every Bond issued pursuant to the provisions of this Section in exchange or substitution for any the Bond which is mutilated, so destroyed, stolen or lost shall constitute an additional contractual obligation of the Authority, whether or not the lost. If any such destroyed, stolen or lost Bond shall have matured or shall have been called for redemption, payment of the amount due thereon may be found at any timemade by the Agency upon receipt by the Trustee and the Agency of like proof, or be enforceable by anyone, indemnity and payment of expenses. Any such replacement Bonds issued pursuant to this section shall be entitled to all the equal and proportionate benefits of this Agreement equally and proportionately with any and all other Bonds duly issued under this Agreementhereunder. All The Agency and the Trustee shall not be required to treat both the original Bond and any replacement Bond as being Outstanding for the purpose of determining the principal amount of Bonds which may be issued hereunder or for the purpose of determining any percentage of Bonds Outstanding hereunder, but both the original and replacement Bond shall be held treated as one and owned upon the express condition that the foregoing provisions are exclusive with respect to the replacement or payment of mutilated, destroyed, stolen or lost Bonds, and shall preclude any and all other rights or remedies, notwithstanding any law or statute existing or hereafter enacted to the contrary with respect to the replacement or payment of negotiable instruments or other securities without their surrender. ---Upon the issuance of any new Bond under this Section, the Trustee 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 reasonable expenses (including the fees and expenses of the Trustee) connected therewithsame.

Mutilated, Destroyed, Stolen or Lost Bonds. If: If (a) any mutilated Bond is surrendered to the Trustee or the Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Bond; , and (b) there is delivered to the Trustee, the Authority, the Borrower and the Letter of Credit Issuer, Trustee such security or indemnity as may be required by the Trustee, the Authority, the Borrower and the Letter of Credit Issuer 35 42 Trustee to save the Trustee, the Authority, the Borrower and the Letter of Credit Issuer Guarantor harmless, then, in the absence of notice to the Authority, the Borrower, the Letter of Credit Issuer Guarantor or the Trustee that such Bond has been acquired by a bona fide purchaser, the Authority shall execute and upon its request the Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, stolen or lost Bond, a new Bond or Bonds of the same tenor, aggregate principal amount, maturity and interest rate and bearing a number not contemporaneously outstanding; provided, however, that if any such mutilated, destroyed, lost or stolen Bond shall have become or shall be about to become due and payable, or shall have become subject to redemption in full, instead of issuing a new Bond, the Authority may pay such Bond without surrender thereof, except that any mutilated Bond shall be surrendered. If, after the delivery of such new Bond or payment of a destroyed, lost or stolen Bond pursuant to the proviso in to the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such new Bond was issued presents for payment such original Bond, the Authority, the Letter of Credit Issuer, the Borrower Authority and the Trustee shall be entitled to recover such new Bond (or such payment) from the person to whom it was delivered or any person taking such new Bond from such person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any damage, loss, cost or expenses incurred by the Authority, the Borrower, the Letter of Credit Issuer Guarantor or the Trustee in connection therewith. ---Subject Subject to the provisions of the first paragraph of this Section 210, every Bond issued pursuant to the provisions of this Section in exchange or substitution for any Bond which is mutilated, destroyed, stolen or lost shall constitute an additional contractual obligation of the Authority, whether or not the destroyed, stolen or lost Bond shall be found at any time, or be enforceable by anyone, and shall be entitled to all the benefits of this Agreement equally and proportionately with any and all other Bonds duly issued under this Agreement. All Bonds shall be held and owned upon the express condition that the foregoing provisions are exclusive with respect to the replacement or payment of mutilated, destroyed, stolen or lost Bonds, and shall preclude any and all other rights or remedies, notwithstanding any law or statute existing or hereafter enacted to the contrary with respect to the replacement or payment of negotiable instruments or other securities without their surrender. ---Upon the issuance of any new Bond under this Section, the Trustee 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 reasonable expenses (including the fees and expenses of the Trustee) connected therewith.the

Mutilated, Destroyed, Stolen or Lost Bonds. If: (a) If any mutilated Bond is surrendered to the Trustee or the Trustee receives evidence to its satisfaction of the destructionshall become mutilated, loss or theft of any Bond; and (b) there is delivered to the Trustee, at the Authorityexpense of the Owner, the Borrower and the Letter of Credit Issuer, such security or indemnity as may be required by the Trustee, the Authority, the Borrower and the Letter of Credit Issuer to save the Trustee, the Authority, the Borrower and the Letter of Credit Issuer harmless, then, in the absence of notice to the Authority, the Borrower, the Letter of Credit Issuer or the Trustee that such Bond has been acquired by a bona fide purchaser, the Authority shall execute and upon its request the Trustee shall thereupon authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, stolen or lost Bond, deliver a new Bond or Bonds of the same tenor, Series of Bonds and maturity of Authorized Denominations equal in aggregate principal amount, maturity Principal Amount to the Bond so mutilated in exchange and interest rate and bearing a number not contemporaneously outstanding; provided, however, that if any such substitution for the Bond so mutilated, destroyedbut only upon surrender to the Trustee of the Bond so mutilated, lost or stolen Bond shall have become or shall be about to become due and payable, or shall have become subject to redemption in full, instead of issuing a new Bond, the Authority may pay such Bond without surrender thereof, except that any every mutilated Bond shall be surrendered. If, after the delivery of such new Bond or payment of a destroyed, lost or stolen Bond pursuant so surrendered to the proviso in the preceding sentence, a bona fide purchaser of the original Bond in lieu of which such new Bond was issued presents for payment such original Bond, the Authority, the Letter of Credit Issuer, the Borrower and the Trustee shall be entitled cancelled. If any Bond shall be lost, destroyed or stolen, evidence of such loss, destruction or theft may be submitted to recover the Trustee and, if such evidence be satisfactory to the Trustee and indemnity satisfactory to the Trustee shall be given, the Trustee, at the expense of the Owner, shall thereupon authenticate and deliver a new Bond (of the same Series of Bonds and maturity of Authorized Denominations equal in aggregate Principal Amount to the Bond so lost, destroyed or such payment) from stolen in lieu of and in substitution for the person to whom it was delivered Bond so lost, destroyed or any person taking such stolen. The Trustee may require payment of a reasonable sum for each new Bond from such person, except a bona fide purchaser, delivered under this Section and shall of the expenses which may be entitled to recover upon the security or indemnity provided therefor to the extent of any damage, loss, cost or expenses incurred by the Authority, the Borrower, the Letter of Credit Issuer or Agency and the Trustee in connection therewiththe premises. ---Subject to the provisions of the first paragraph of this Section 210, every Any Bond issued pursuant to delivered under the provisions of this Section in exchange or substitution for lieu of any Bond alleged to be lost, destroyed or stolen shall be equally and proportionately entitled to the benefits hereof with all other Bonds secured hereby, and neither the Agency nor the Trustee shall be required to treat both the original Bond and any replacement Bond as being Outstanding for the purpose of determining the principal amount of Bonds which is mutilatedmay be issued hereunder or for the purpose of determining any percentage of Bonds Outstanding hereunder, destroyed, stolen or lost shall constitute an additional contractual obligation of but both the Authority, whether or not the destroyed, stolen or lost original and replacement Bond shall be found at any time, or be enforceable by anyone, treated as one and shall be entitled to all the benefits of this Agreement equally and proportionately with any and all other Bonds duly issued under this Agreement. All Bonds shall be held and owned upon the express condition that the foregoing provisions are exclusive with respect to the replacement or payment of mutilated, destroyed, stolen or lost Bonds, and shall preclude any and all other rights or remedies, notwithstanding any law or statute existing or hereafter enacted to the contrary with respect to the replacement or payment of negotiable instruments or other securities without their surrender. ---Upon the issuance of any new Bond under this Section, the Trustee 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 reasonable expenses (including the fees and expenses of the Trustee) connected therewithsame.