Common use of Cancellation and Destruction of Warrant Certificates Clause in Contracts

Cancellation and Destruction of Warrant Certificates. All Warrant Certificates surrendered for the purpose of exercise (in whole or in part), exchange, transfer, split up, combination or substitution if mutilated shall, if surrendered to the Company or to any of its agents, be delivered to the Warrant Agent for cancellation or in cancelled form, or if surrendered to the Warrant Agent shall be cancelled by it, and no Warrant Certificates shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Agreement. If the Company purchases or acquires Warrants and if the Company so chooses, the Company may deliver to the Warrant Agent for cancellation and retirement, and the Warrant Agent shall so cancel and retire, the Warrant Certificates evidencing said Warrants. The Warrant Agent shall retain all cancelled Warrant Certificates for a period of one year and return the cancelled certificates to the Company.