Common use of Endorsement or Replacement of Certificates Delivered After Amendments Clause in Contracts

Endorsement or Replacement of Certificates Delivered After Amendments. The Town may determine that Certificates delivered after the effective date of any action taken as provided in this Article X shall bear a notation, by endorsement or otherwise, in form approved by the Trustee, as to such action. In that case, upon demand of the Owner of any Certificate Outstanding at such effective date and presentation of his Certificate for such purpose at the Principal Corporate Trust Office, a suitable notation shall be made on such Certificate. The Town may determine that the delivery of substitute Certificates, so modified as in the opinion of the Town is necessary to conform to such Certificate Owners’ action, is necessary and such substitute Certificates shall thereupon be prepared, executed and delivered. In that case, upon demand of the Owner of any Certificate then Outstanding, such substitute Certificate shall be exchanged at the Principal Corporate Trust Office, at the expense of the Town, for a Certificate of the same character then Outstanding, upon surrender of such Outstanding Certificate.

Endorsement or Replacement of Certificates Delivered After Amendments. The Town City may determine that Certificates delivered after the effective date of any action taken as provided in this Article X shall bear a notation, by endorsement or otherwise, in form approved by the Trustee, as to such action. In that case, upon demand of the Owner of any Certificate Outstanding at such effective date and presentation of his Certificate for such purpose at the Principal Corporate Trust Office, a suitable notation shall be made on such Certificate. The Town City may determine that the delivery of substitute Certificates, so modified as in the opinion of the Town City is necessary to conform to such Certificate Owners’ action, is necessary and such substitute Certificates shall thereupon be prepared, executed and delivered. In that case, upon demand of the Owner of any Certificate then Outstanding, such substitute Certificate shall be exchanged at the Principal Corporate Trust Office, at the expense of the TownCity, for a Certificate of the same character then Outstanding, upon surrender of such Outstanding Certificate.