Common use of Section 309 Cancellation Clause in Contracts

Section 309 Cancellation. All Securities and coupons surrendered for payment, redemption, repayment at the option of the Holder, registration of transfer or exchange or for credit against any sinking fund payment shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee, and any such Securities and coupons surrendered directly to the Trustee for any such purpose shall be promptly cancelled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder which the Company has not issued and sold, and all Securities so delivered shall be promptly cancelled by the Trustee. If the Company shall so acquire any of the Securities, however, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are surrendered to the Trustee for cancellation. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as provided in this Section, except as expressly permitted by this Indenture. Cancelled Securities and coupons held by the Trustee shall be disposed of by the Trustee and the Trustee shall deliver a certificate of such disposal to the Company upon its written request therefor, unless by a Company Order the Company directs their return to it.

Appears in 2 contracts

Samples: Indenture (PennyMac Mortgage Investment Trust), Indenture (PennyMac Corp.)

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Section 309 Cancellation. All Securities and coupons surrendered for payment, redemption, repayment at the option of the Holder, registration of transfer or exchange exchange, or for credit against delivered in satisfaction of any sinking fund payment payment, shall, if surrendered to any Person other than the TrusteeTrustee for such Securities, be delivered to the Trustee, such Trustee and any such Securities and coupons surrendered directly to the Trustee for any such purpose shall be promptly cancelled canceled by itit in its customary manner. The Company may at any time deliver to the Trustee for Securities of a series for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder which the Company has not issued and sold, and all Securities so delivered shall be promptly cancelled canceled by such Trustee in its customary manner. Notwithstanding any other provision of this Indenture to the Trustee. If contrary, in the Company case of a series, all the Securities of which are not to be originally issued at one time, a Security of such series shall so acquire not be deemed to have been Outstanding at any of time hereunder if and to the Securitiesextent that, howeversubsequent to the authentication and delivery thereof, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are surrendered Security is delivered to the Trustee for cancellationsuch Security for cancellation by the Company or any agent thereof upon the failure of the original purchaser thereof to make payment therefor against delivery thereof, and any Security so delivered to such Trustee shall be promptly canceled by it in its customary manner. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled canceled as provided in this Section, except as expressly permitted by this Indenture. Cancelled All canceled Securities and coupons held by the Trustee for such Securities shall be disposed of by such Trustee in accordance with its standard procedures and, upon the Trustee and the Trustee shall deliver Company’s written request, a certificate of disposition evidencing such disposal disposition of Securities shall be provided to the Company upon its written request therefor, unless by a Company Order the Company directs their return to itsuch Trustee.

Appears in 2 contracts

Samples: Indenture (Lorillard, Inc.), Indenture (Lorillard, Inc.)

Section 309 Cancellation. All Securities and coupons surrendered for payment, redemption, repayment at the option of the Holder, registration of transfer or exchange or for credit against any current or future sinking fund payment shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee, and any such . All Securities and coupons surrendered directly so delivered to the Trustee for any such purpose shall be promptly cancelled canceled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder which the Company has not issued and sold, and all Securities so delivered shall be promptly cancelled canceled by the Trustee. If the Company shall so acquire any of the Securities, however, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are surrendered to the Trustee for cancellation. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled canceled as provided in this Section, except as expressly permitted by this Indenture. Cancelled All canceled Securities and coupons held by the Trustee shall be disposed of by the Trustee in accordance with its customary procedures and the Trustee shall deliver a certificate certification of such their disposal delivered to the Company upon its written request therefor, unless by a Company Order the Company directs their return shall direct that canceled Securities be returned to it.

Appears in 1 contract

Samples: Indenture (Pacific Telesis Financing Iii)

Section 309 Cancellation. All Securities and coupons surrendered for payment, redemption, repayment at the option of the Holder, registration of transfer or exchange or for credit against any current or future sinking fund payment shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee, and any such . All Securities and coupons surrendered directly so delivered to the Trustee for any such purpose shall be promptly cancelled canceled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder which the Company has not issued and sold, and all Securities so delivered shall be promptly cancelled canceled by the Trustee. If the Company shall so acquire any of the Securities, however, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are surrendered to the Trustee for cancellation. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled canceled as provided in this Section, except as expressly permitted by this Indenture. Cancelled All canceled Securities and coupons held by the Trustee shall be disposed of by the Trustee in accordance with its customary procedures and the Trustee shall deliver a certificate certification of such their disposal delivered to the Company upon its written request therefor, unless by a Company Order the Company directs their return to it.shall direct that canceled Securities be

Appears in 1 contract

Samples: Debt Securities Indenture (Pacific Telesis Financing Iii)

Section 309 Cancellation. All Securities and coupons Notes surrendered for payment, redemption, repayment at the option of the Holder, registration of transfer or exchange or for credit against any sinking fund payment shall, if surrendered to any Person other than the Trustee, be delivered to to, and promptly cancelled by, the Trustee, and any such Securities and coupons surrendered directly to the Trustee for any such purpose shall be promptly cancelled by it. The Company may at any time deliver to the Trustee for cancellation any Securities Notes previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities Notes previously authenticated hereunder which the Company has not issued and sold, and all Securities Notes so delivered shall be promptly cancelled by the Trustee. If the Company shall so acquire any of the SecuritiesNotes, however, such acquisition shall not operate as a redemption or satisfaction of the indebtedness Indebtedness represented by such Securities Notes unless and until the same are surrendered to the Trustee for cancellation. No Securities Notes shall be authenticated in lieu of or in exchange for any Securities Notes cancelled as provided in this Section, except as expressly permitted by this Indenture. Cancelled Securities and coupons All cancelled Notes held by the Trustee shall be disposed of by the Trustee in accordance with its customary procedures and the Trustee shall deliver a certificate certification of such their disposal delivered to the Company upon its written request therefor, unless by a Company Order the Company directs their return shall direct that cancelled Notes be returned to itit after being appropriately designated as cancelled.

Appears in 1 contract

Samples: Indenture (World Access Inc /New/)

Section 309 Cancellation. All Securities and coupons surrendered for ------------ payment, redemption, repayment at the option of the Holder, registration of transfer or exchange or for credit against any sinking fund payment shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee and, if not already canceled, shall be promptly canceled by Trustee, and any such Securities and coupons surrendered directly to the Trustee for any such purpose shall be promptly cancelled canceled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder which the Company has not issued and sold, and all Securities so delivered shall be promptly cancelled by the Trustee. If the Company shall so acquire any of the Securities, however, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are surrendered to the Trustee for cancellation. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as provided in this Section, except as expressly permitted by this Indenture. Cancelled Securities and coupons held by the Trustee shall be disposed of destroyed by the Trustee and the Trustee shall deliver a certificate of such disposal destruction to the Company upon its written request thereforCompany, unless by a Company Order the Company directs their return Order, the Company shall direct that cancelled Securities and coupons be returned to it.

Appears in 1 contract

Samples: Indenture (Frontier Corp /Ny/)

Section 309 Cancellation. All Securities and coupons surrendered for payment, redemption, repayment at the option of the Holder, registration of transfer or exchange or conversion or for credit against any sinking fund payment shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee, and any such Securities and coupons and Securities and coupons surrendered directly to the Trustee for any such purpose shall be promptly cancelled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder which the Company has not issued and sold, and all Securities so delivered shall be promptly cancelled by the Trustee. If the Company shall so acquire any of the Securities, however, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are surrendered to the Trustee for cancellation. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as provided in this SectionSection 309, except as expressly permitted by this Indenture. Cancelled Securities and coupons held by the Trustee shall be disposed of by the Trustee and the Trustee shall deliver a certificate of such disposal to the Company upon in its written request therefor, unless by a Company Order the Company directs their return to itcustomary manner.

Appears in 1 contract

Samples: Indenture (Pan Pacific Retail Properties Inc)

Section 309 Cancellation. All Securities and coupons surrendered for payment, redemption, repayment at the option of the Holder, registration of transfer or exchange or for credit against any sinking fund payment shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee, and any such Securities and coupons Securities surrendered directly to the Trustee for any such purpose shall be promptly cancelled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder which the Company has not issued and sold, and all Securities so delivered shall be promptly cancelled by the Trustee. If the Company shall so acquire any of the Securities, however, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are surrendered to the Trustee for cancellation. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as provided in this Section, except as expressly permitted by this Indenture. Cancelled All cancelled Securities and coupons held by the Trustee shall be disposed of as directed by the Trustee a Company Order, and the Trustee shall deliver a certificate of such disposal to the Company upon its written request therefor, unless a certificate evidencing the disposition of the cancelled Securities. Acquisition by a Company Order the Company directs their return of any Security shall not operate as a redemption or satisfaction of the indebtedness represented by such Security unless and until the same is delivered to itthe Trustee for cancellation.

Appears in 1 contract

Samples: Subordinated Indenture (Hartford Financial Services Group Inc/De)

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Section 309 Cancellation. All Securities and coupons surrendered for payment, redemption, repayment at the option of the Holder, registration of transfer or exchange or for credit against any sinking fund payment shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee, and any such Securities and coupons and Securities and coupons surrendered directly to the Trustee for any such purpose shall be promptly cancelled canceled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder which the Company has not issued and sold, and all Securities so delivered shall be promptly cancelled canceled by the Trustee. If the Company shall so acquire any of the Securities, however, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are surrendered to the Trustee for cancellation. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled canceled as provided in this Section, except as expressly permitted by this Indenture. Cancelled Canceled Securities and coupons held by the Trustee shall be disposed of destroyed by the Trustee and and, if required in writing by the Company, the Trustee shall deliver a certificate of such disposal destruction to the Company upon its written request thereforCompany, unless by a Company Order the Company directs their return to it.

Appears in 1 contract

Samples: Indenture (Provident Companies Inc /De/)

Section 309 Cancellation. All Securities and coupons surrendered for payment, redemption, repayment at the option of the Holder, registration of transfer or exchange or for credit against any sinking fund payment shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee, and any such Securities and coupons surrendered directly to the Trustee for any such purpose shall be promptly cancelled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder which the Company has not issued and sold, and all Securities so delivered shall be promptly cancelled by the Trustee. If the Company shall so acquire any of the Securities, however, such acquisition shall not operate as a redemption redemption, repayment or satisfaction of the indebtedness represented by such Securities unless and until the same are surrendered to the Trustee for cancellation. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as provided in this Section, except as expressly permitted by this Indenture. Cancelled Securities and coupons held by the Trustee shall be disposed of by the Trustee and the Trustee shall deliver a certificate of such disposal to the Company upon its written request therefor, unless by a Company Order the Company directs their return to it.

Appears in 1 contract

Samples: Indenture (Sutherland Asset Management Corp)

Section 309 Cancellation. All Securities and coupons surrendered for payment, redemption, repayment at the option of the Holder, registration of transfer transfer, exchange for other Securities of the same series or conversion or exchange for other securities or property or for credit against any sinking fund payment shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee, and any such Securities and coupons and Securities and coupons surrendered directly to the Trustee for any such purpose shall be promptly cancelled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder which the Company has not issued and sold, and all Securities so delivered shall be promptly cancelled by the Trustee. If the Company shall so acquire any of the Securities, however, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are surrendered to the Trustee for cancellation. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as provided in this SectionSection 309, except as expressly permitted by this Indenture. Cancelled Evidence of the cancellation of Securities and coupons held by the Trustee shall be disposed of by the Trustee and the Trustee shall deliver a certificate of such disposal delivered to the Company upon its the Company’s written request therefor, unless by a Company Order the Company directs their return to itrequest.

Appears in 1 contract

Samples: Indenture (American Assets Trust, L.P.)

Section 309 Cancellation. All Securities and coupons Notes surrendered for payment, redemption, repayment at the option of the Holder, registration of transfer or exchange or for credit against any sinking fund payment shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee, Trustee and any such Securities and coupons surrendered directly to the Trustee for any such purpose shall be promptly cancelled by it. The Company may at any time deliver to the Trustee for cancellation any Securities Notes previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities Notes previously authenticated hereunder which the Company has not issued and sold, and all Securities Notes so delivered shall be promptly cancelled by the Trustee. If the Company shall so acquire any of the SecuritiesNotes, however, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities Notes unless and until the same are surrendered to the Trustee for cancellation. No Securities Notes shall be authenticated in lieu of or in exchange for any Securities Notes cancelled as provided in this Section, except as expressly permitted by this Indenture. Cancelled Securities and coupons All cancelled Notes held by the Trustee shall be disposed of by the Trustee in accordance with its customary procedures and the Trustee shall deliver a certificate certification of such their disposal delivered to the Company upon its written request therefor, unless by a Company Order the Company directs their return shall direct that cancelled Notes be returned to it.

Appears in 1 contract

Samples: Indenture (Fleming Companies Inc /Ok/)

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