Common use of Ownership of Debentures Clause in Contracts

Ownership of Debentures. (a) Unless otherwise required by law, the Person in whose name any registered Debenture is registered shall for all purposes of this Indenture be and be deemed to be the owner thereof and payment of or on account of the principal of and premium, if any, on such Debenture and interest thereon shall be made to such registered holder. (b) The registered holder for the time being of any registered Debenture shall be entitled to the principal, premium, if any, and/or interest evidenced by such instrument, respectively, free from all equities or rights of set-off or counterclaim between the Corporation and the original or any intermediate holder thereof and all Persons may act accordingly and the receipt of any such registered holder for any such principal, premium, if any, or interest shall be a good discharge to the Trustee, any registrar and to the Corporation for the same and none shall be bound to inquire into the title of any such registered holder. (c) Where Debentures are registered in more than one name, the principal, premium, if any, and interest from time to time payable in respect thereof may be paid to the order of all such holders, failing written instructions from them to the contrary, and the receipt of any one of such holders therefor shall be a valid discharge to the Trustee, any registrar and to the Corporation.

Ownership of Debentures. (a) Unless otherwise required by law, the Person person in whose name any registered Debenture is registered shall for all the purposes of this Indenture be and be deemed to be the owner thereof and payment of or on account of the principal of and premium, if any, on such Debenture and interest thereon shall be made to such registered holder. (b) The registered holder for the time being of any fully registered Debenture shall be entitled to the principal, premium, if any, and/or or interest evidenced by such instrumentinstruments, respectively, free from all equities or rights of set-off or counterclaim between the Corporation and the original or any intermediate holder thereof and all Persons persons may act accordingly and the receipt of by any such registered holder for of any such principal, premium, if any, premium or interest shall be a good discharge to the Trustee, any registrar and to Corporation or the Corporation Indenture Trustee for the same and none neither the Corporation nor the Indenture Trustee shall be bound to inquire into the title of any such registered holder. (c) Where Debentures are registered in more than one name, the principal, premium, if any, and interest from time to time payable in respect thereof may be paid to the order of all such holders, failing written instructions from them to the contrary, and the receipt of any one of such holders therefor shall be a valid discharge to the Indenture Trustee, any Debenture registrar and to the Corporation.

Ownership of Debentures. (a) Unless otherwise required by law, the Person person in whose name any registered Debenture is registered shall for all the purposes of this Indenture be and be deemed to be the owner thereof and payment of or on account of the principal of and premium, if any, on such Debenture and interest thereon shall be made to such registered holder. (b) The registered holder for the time being of any fully registered Debenture shall be entitled to the principal, premium, if any, and/or interest evidenced by such instrumentinstruments, respectively, free from all equities or rights of set-off or counterclaim between the Corporation and the original or any intermediate holder thereof and all Persons persons may act accordingly and the receipt of any such registered holder for any such principal, premium, if any, premium or interest shall be a good discharge to the Trustee, any registrar and to Corporation and/or the Corporation Indenture Trustee for the same and none neither the Corporation nor the Indenture Trustee shall be bound to inquire into the title of any such registered holder. (c) Where Debentures are registered in more than one name, the principal, premium, if any, and interest from time to time payable in respect thereof may be paid to the order of all such holders, failing written instructions from them to the contrary, and the receipt of any one of such holders therefor shall be a valid discharge to the Indenture Trustee, any Debenture registrar and to the Corporation.