Common use of RECEIPT OF JOINT HOLDERS Clause in Contracts

RECEIPT OF JOINT HOLDERS. If several persons are entered in the register as joint registered holders of any Convertible Loan Notes, then, without prejudice to paragraph 2 above, the receipt of any one of such persons for any interest or principal or other moneys payable in respect of such Convertible Loan Notes shall be as effective a discharge to the Company as if the person in receipt were the sole registered holder of such Convertible Loan Notes.