Common use of Destruction of Cancelled Certificates Clause in Contracts

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.

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 Corporation of any Certificates, the Trustee will cancel shall subject to the record-retention requirements of the Securities Exchange Act of 1934, in lieu of such cancellation and delivery, destroy such Certificates and upon request of the City Representative deliver a certificate of such destruction to the City upon its requestCity.