Common use of Replacement of Option Clause in Contracts

Replacement of Option. On receipt of evidence reasonably satisfactory to the Company of the loss, theft or destruction of this Option, and, if requested, upon delivery of an indemnity agreement reasonably satisfactory to the Company, the Company at its expense shall execute and deliver, in lieu of this Option, a new replacement Option.

Replacement of Option. On Upon receipt of evidence reasonably satisfactory to the Company of the loss, theft theft, destruction, or destruction mutilation of this Option, Option and, if requestedin the case of any such loss, theft, or destruction, upon delivery of an indemnity agreement reasonably satisfactory in form and amount to the Company, or, in the Company case of any such mutilation, upon surrender and cancellation of this Option, the Company, at its expense shall expense, will execute and deliver, in lieu of this Optionthereof, a new replacement OptionOption of like tenor.