Destruction of Cancelled Certificates Clause Samples

The 'Destruction of Cancelled Certificates' clause requires that any certificates which have been cancelled, such as stock or bond certificates, must be physically destroyed to prevent their unauthorized reuse or fraudulent presentation. In practice, this means that once a certificate is officially cancelled—due to redemption, transfer, or replacement—it is collected and then shredded, incinerated, or otherwise rendered unusable by the responsible party, often under supervision or with a record kept of the destruction. This clause serves to protect against fraud and maintain the integrity of the certificate system by ensuring that cancelled documents cannot be mistakenly or maliciously reintroduced into circulation.
Destruction of Cancelled Certificates. Whenever in this Indenture provision is made for the surrender to or cancellation by the Trustee and the delivery to the Board of any Certificates, the Trustee may, upon the request of the Board Representative, in lieu of such cancellation and delivery, destroy such Certificates and deliver a certificate of such destruction to the Board.
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Destruction of Cancelled Certificates. Whenever in this Trust Agreement provision is made for the surrender or cancellation by the Trustee and the delivery to the City of any Certificates, the Trustee will cancel and destroy such Certificates and deliver a certificate of such destruction to the City upon its request.
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Destruction of Cancelled Certificates. Unless otherwise instructed by the Issuer or unless, in the case of a Global Certificate, it is to be returned to its holder in accordance with its terms, the Principal Paying Agent shall destroy the cancelled Certificates in its possession and shall as soon as reasonably practicable and in any event within 45 days of written request therefor send the Trustee, the Registrar and the Issuer a certificate of such destruction which shall include details of the certificate numbers of such Certificates in numerical sequence, the total numbers and the aggregate amount paid in respect of such Certificates and the relevant Bonds.
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Destruction of Cancelled Certificates. Unless otherwise instructed by the Issuer, the Principal Agent or its designated agent shall destroy the cancelled Certificates in its possession or held to its order and furnish to the Issuer and the Trustee upon request, a certificate of such destruction duly signed by its authorised officer.
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Related to Destruction of Cancelled Certificates

  • Certificate of Cancellation On completion of the winding up of the Company as provided herein and under the Act, the Members (or such other Person or Persons as the Act may require or permit) shall file a certificate of cancellation with the Secretary of State of the State of Delaware and take such other actions as may be necessary to terminate the existence of the Company. Upon the filing of such certificate of cancellation, the existence of the Company shall terminate, except as may be otherwise provided by the Act or by Applicable Law.

  • Lost, Stolen or Destroyed Certificates In the event that any Certificates shall have been lost, stolen or destroyed, the Paying Agent shall issue in exchange for such lost, stolen or destroyed Certificates, upon the making of an affidavit of that fact by the holder thereof, the Merger Consideration payable in respect thereof pursuant to Section 2.1 hereof; provided, however, that Parent may, in its discretion and as a condition precedent to the payment of such Merger Consideration, require the owners of such lost, stolen or destroyed Certificates to deliver a bond in such sum as it may reasonably direct as indemnity against any claim that may be made against Parent, the Surviving Corporation or the Paying Agent with respect to the Certificates alleged to have been lost, stolen or destroyed.

  • Effect of Cancellation If the Student cancels the housing agreement during a semester, the Student may remain in residence until the end of the semester the cancellation was given to UCF DHRL. The Student’s cancellation fees will be determined based on the date the Student’s written or electronically reproducible notice of cancellation is received by UCF DHRL Rent for the semester the cancellation is submitted to UCF DHRL will be based upon the date the Student vacates the residence facility in compliance with move out procedures. Notwithstanding anything in this agreement, the Student is always responsible for the greater of the pro rata rent for the semester of cancellation or the cancellation fee for that semester. Residents who cancel this agreement will not be given any preference as a current or prior resident when submitting applications for future residence with UCF DHRL.

  • Lost or Destroyed Certificates In case of the alleged loss or destruction of any shareholder certificate, no new certificate shall be issued in lieu thereof, unless there shall first be furnished to CMS an affidavit of loss or non-receipt by the holder of shares with respect to which a certificate has been lost or destroyed, supported by an appropriate bond satisfactory to CMS and the Trust issued by a surety company satisfactory to CMS.

  • Company Certificates The Company shall have furnished to the Representative such certificates, in addition to those specifically mentioned herein, as the Representative may have reasonably requested as to the accuracy and completeness at the Closing Date and any Option Closing Date of any statement in the Registration Statement, the General Disclosure Package or the Prospectus, as to the accuracy at the Closing Date and any Option Closing Date of the representations and warranties of the Company herein, as to the performance by the Company of its obligations hereunder, or as to the fulfillment of the conditions concurrent and precedent to the obligations hereunder of the Underwriters.