Replacement First Lien Notes Clause Samples

Replacement First Lien Notes. If a mutilated First Lien Note is surrendered to the Trustee or if a Holder claims that its First Lien Note has been lost, destroyed or wrongfully taken and the Trustee receives evidence to its satisfaction of the ownership and loss, destruction or theft of such First Lien Note, the Company shall issue and the Trustee, upon receipt of an Authentication Order, shall authenticate a replacement First Lien Note of the same Series of First Lien Notes if the Trustee’s requirements are otherwise met. If required by the Trustee or the Company, indemnity or security must be provided by the Holder that is sufficient in the judgment of the Trustee and the Company to protect the Company, the Trustee, any Agent and any authenticating agent from any loss that any of them may suffer if a First Lien Note is replaced. The Company may charge the Holder for the expenses of the Company and the Trustee in replacing a First Lien Note. Every replacement First Lien Note is a contractual obligation of the Company and shall be entitled to all of the benefits of this First Lien Indenture equally and proportionately with all other First Lien Notes of the same Series of First Lien Notes duly issued hereunder. Notwithstanding the foregoing provisions of this Section 2.07, in case any mutilated, lost, destroyed or wrongfully taken First Lien Note has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new First Lien Note, pay such First Lien Note.

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Replacement First Lien Notes. If any mutilated First Lien Note is surrendered to the Trustee or the Company and the Trustee receives evidence to its satisfaction of the destruction, loss or theft of any First Lien Note, the Company will issue and the Trustee, upon receipt of an Authentication Order, will authenticate a replacement First Lien Note if the Trustee’s requirements are met. If required by the Trustee or the Company, an indemnity bond must be supplied by the Holder that is sufficient in the judgment of the Trustee and the Company to protect the 71 Company, the Trustee, any Agent and any authenticating agent from any loss that any of them may suffer if a First Lien Note is replaced. The Company may charge for its expenses in replacing a First Lien Note. Every replacement First Lien Note is an additional obligation of the Company and will be entitled to all of the benefits of this Indenture equally and proportionately with all other First Lien Notes duly issued hereunder.