Replacement of Lost, Destroyed or Wrongfully Taken Certificate Clause Samples

The "Replacement of Lost, Destroyed or Wrongfully Taken Certificate" clause outlines the process by which a new certificate—such as a stock or bond certificate—can be issued if the original is lost, destroyed, or stolen. Typically, the holder must provide satisfactory evidence of the loss and may be required to furnish an indemnity bond to protect the issuer from potential claims. This clause ensures that rightful owners can recover their interests even if the original document is missing, while also protecting the issuer from liability in case the original resurfaces or is fraudulently used.
Replacement of Lost, Destroyed or Wrongfully Taken Certificate. If a person entitled to a share certificate claims that the share certificate has been lost, destroyed or wrongfully taken, the Company must issue a new share certificate, if that person: (1) so requests before the Company has notice that the share certificate has been acquired by a protected purchaser; (2) provides the Company with an indemnity bond sufficient in the Company’s judgement to protect the Company from any loss that the Company may suffer by issuing a new certificate; and (3) satisfies any other reasonable requirements imposed by the directors. A person entitled to a share certificate may not assert against the Company a claim for a new share certificate where a share certificate has been lost, apparently destroyed or wrongfully taken if that person fails to notify the Company of that fact within a reasonable time after that person has notice of it and the Company registers a transfer of the shares represented by the certificate before receiving a notice of the loss, apparent destruction or wrongful taking of the share certificate.
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Related to Replacement of Lost, Destroyed or Wrongfully Taken Certificate

  • Mutilated, Destroyed, Lost or Stolen Certificates If (a) any mutilated Certificate shall be surrendered to the Certificate Registrar, or if the Certificate Registrar shall receive evidence to its satisfaction of the destruction, loss or theft of any Certificate and (b) there shall be delivered to the Certificate Registrar and the Owner Trustee, such security or indemnity as may be required by them to save each of them harmless, then in the absence of notice that such Certificate shall have been acquired by a bona fide purchaser, the Owner Trustee on behalf of the Trust shall execute and the Owner Trustee, or the Certificate Registrar, as the Owner Trustee’s authenticating agent, shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Certificate, a new Certificate of like tenor and denomination. In connection with the issuance of any new Certificate under this Section, the Owner Trustee or the Certificate Registrar may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. Any duplicate Certificate issued pursuant to this Section shall constitute conclusive evidence of an ownership interest in the Trust, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time.