Surrendered Notes Clause Samples
The 'Surrendered Notes' clause defines the process and requirements for returning or delivering promissory notes, bonds, or similar debt instruments that are being paid off, exchanged, or otherwise retired. In practice, this clause typically specifies that holders must physically or electronically surrender their notes to the issuer or a designated agent before receiving payment or new securities. For example, when a company redeems its bonds, bondholders must submit their certificates to receive the redemption amount. The core function of this clause is to ensure that outstanding obligations are properly cancelled and to prevent double claims or confusion regarding the status of the notes.
Surrendered Notes. Every Note surrendered for registration of transfer or exchange will be (i) duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Note Registrar duly executed by, the Noteholder of the Note or the Noteholder’s authorized attorney, with the signature guaranteed by an “eligible guarantor institution” meeting the requirements of the Note Registrar including membership or participation in the Securities Transfer Agents Medallion Program or another “signature guarantee program”, according to the Exchange Act and (ii) accompanied by other documents the Note Registrar may require.
Surrendered Notes. 10 7. Mutilated, Destroyed, Stolen or Lost Notes. . . . . . . . . . . 10 8. Signatures. . . . . . . . . . . . . . . . . . . . . . . . . . . 10 9.
Surrendered Notes. All Notes and Coupons surrendered for payment, redemption, retirement or exchange shall be delivered outside the United States to the Fiscal and Principal Paying Agent. In any such case, the Fiscal and Principal Paying Agent shall cancel all Notes and Coupons not previously canceled and shall dispose of such canceled Notes and Coupons (unless otherwise previously requested by the Corporation). Upon such destruction, the Fiscal and Principal Paying Agent shall provide the Corporation with a certificate to such effect if so requested by the Corporation.