Common use of Lost Notes Clause in Contracts

Lost Notes. Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction of any Note, and (in case of loss, theft or destruction) of indemnity satisfactory to it (any Lender's or any other institutional holder's undertaking to be satisfactory indemnity in case of loss, theft or destruction of any Note owned by such Lender or by such other institutional holder), and upon reimbursement to the Company of all reasonable expenses incidental thereto, and upon surrender and cancellation of such Note, if mutilated, the Company will pay any unpaid principal, interest and prepayment charge then or theretofore due and payable on such Note and will deliver in lieu of such Note a new Note for the remaining unpaid principal amount thereof and carrying the same rights to interest (unpaid and to accrue).