Common use of Replacement Note Clause in Contracts

Replacement Note. If (a)(i) this Note is mutilated and surrendered to the Company; or (ii) the Holder claims that this Note has been lost, destroyed or stolen and provides the Company with (A) evidence of such loss, theft or destruction that is reasonably satisfactory to the Company; and (B) any amount or kind of security or indemnity that the Company requests to protect itself from any loss that it may suffer upon replacement of this Note; and, in either case, (b) such Holder satisfies any other reasonable requirements of the Company, including the payment of any tax or other governmental charge that may be imposed in connection with the replacement of this Note, then, unless the Company receives notice that this Note has been acquired by a bona fide purchaser, the Company will promptly execute and deliver to the Holder a replacement Note having the same aggregate principal amount as this Note that was mutilated or claimed to be lost, destroyed or stolen. Every new Note issued pursuant to this Section 2.02 in exchange for a mutilated Note, or in lieu of a destroyed, lost or stolen Note, will constitute an original contractual obligation of the Company and any other obligor upon this Note, regardless of whether the mutilated, destroyed, lost or stolen Note will be at any time enforceable by anyone, and will be entitled to all of the benefits, and subject to all the limitations, set forth herein.