Common use of Mutilation, Destruction, Loss or Theft Clause in Contracts

Mutilation, Destruction, Loss or Theft. If a Note shall become mutilated, destroyed, lost or stolen, the Borrower shall, upon the written request and at the expense of the relevant Lender execute and deliver to such Lender, in replacement thereof, a new Note in the same face amount, with the same designation and dated the same date as the Note so mutilated, destroyed, lost or stolen. If the Note being replaced has become mutilated, such Note shall be surrendered to the Borrower. If the Note being replaced has been destroyed, lost or stolen, the holder of such Note shall furnish to the Borrower such security or indemnity as may reasonably be required by the Borrower to save it harmless and evidence reasonably satisfactory to the Borrower of the destruction, loss or theft of such Note and the ownership thereof, provided, however, that if the holder of such Note is an initial Lender, the written undertaking of such holder to indemnify the Borrower shall be sufficient security and indemnity.

Appears in 7 contracts

Samples: Loan Agreement, Loan Agreement (Atlas Air Worldwide Holdings Inc), Loan Agreement (Atlas Air Worldwide Holdings Inc)

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Mutilation, Destruction, Loss or Theft. If a Note shall become mutilated, destroyed, lost or stolen, the Borrower shall, upon the written request and at the expense of the relevant Lender execute and the Security Trustee shall deliver to such Lender, in replacement thereof, a new Note in the same face amount, with the same designation and dated the same date as the Note so mutilated, destroyed, lost or stolen. If the Note being replaced has become mutilated, such Note shall be surrendered to the Borrower. If the Note being replaced has been destroyed, 1000301987v14 lost or stolen, the holder of such Note shall furnish to the Borrower and the Security Trustee such security or indemnity as may reasonably be required by the Borrower and the Security Trustee to save it them harmless and evidence reasonably satisfactory to the Borrower and the Security Trustee of the destruction, loss or theft of such Note and the ownership thereof, provided, however, that if the holder of such Note is an initial Original Lender, the written undertaking of such holder to indemnify the Borrower shall be sufficient security and indemnity.

Appears in 1 contract

Samples: Framework Agreement (Spirit Airlines, Inc.)

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Mutilation, Destruction, Loss or Theft. If a Note shall become mutilated, destroyed, lost or stolen, the Borrower shall, upon the written request and at the expense of the relevant Lender execute and the Security Trustee shall deliver to such Lender, in replacement thereof, a new Note in the same face amount, with the same designation and dated the same date as the Note so mutilated, destroyed, lost or stolen. If the Note being replaced has become mutilated, such Note shall be surrendered to the Borrower. If the Note being replaced has been destroyed, lost or stolen, the holder of such Note shall furnish to the Borrower and the Security Trustee such security or indemnity as may reasonably be required by the Borrower and the Security Trustee to save it them harmless and evidence reasonably satisfactory to the Borrower and the Security Trustee of the destruction, loss or theft of such Note and the ownership thereof, provided, however, that if the holder of such Note is an initial Original Lender, the written undertaking of such holder to indemnify the Borrower shall be sufficient security and indemnity.

Appears in 1 contract

Samples: Framework Agreement (Spirit Airlines, Inc.)

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