Common use of SURRENDER OF DEBENTURES ON PAYMENT Clause in Contracts

SURRENDER OF DEBENTURES ON PAYMENT. For payment to the Beneficial Owner(s) in full discharge of all principal moneys and interests due upon their Debentures, the Company shall make the payment of principal amount to the Beneficial Owner(s) of Debentures or to any subsequent transferee who are entitled to receive the payment on the due date of Redemption on receipt of the necessary corporate debit action from the Debenture Holder.