Common use of Surrender of Certificate Clause in Contracts

Surrender of Certificate. 2.1 EVERY Noteholder any part of whose Notes is due to be repaid under any of the provision of these Conditions shall not later than the due date for such prepayment deliver up to the Company at its registered office for the time being or such other place as the Company may from time to time notify the Noteholders the Certificate(s) of his Notes which are due to be repaid in order that the same may be cancelled and upon such delivery and against a receipt if the Company shall so require for the principal moneys payable in respect of the Notes to be redeemed the Company shall pay to the Noteholder the amount payable to him in respect of such redemption and such payment shall be made through a bank on behalf of the Company if the Company shall think fit PROVIDED THAT if any Certificate(s) so delivered to the Company includes any Notes not redeemable on the occasion on which it is so delivered a fresh Certificate for the balance of the Notes not redeemable on that occasion shall be issued free of charge to the Noteholder delivering such Certificate to the Company. 2.2 If any Noteholder any part of whose Notes is liable to be repaid under these Conditions shall fail or refuse to deliver up the Certificate(s) for such Notes at the time and place fixed for repayment thereof or shall fail or refuse to accept payment of the redemption or the repayment moneys payable in respect thereof the moneys payable to such Noteholder shall be set aside by the Company and paid into a separate interest bearing bank account and held by the Company in trust for such Noteholder and such setting aside shall be deemed for all the purposes of these Conditions to be a payment to such Noteholder and the Company shall thereby be discharged from all obligations in connection with such Notes. If the Company shall place the said moneys on deposit at a bank the Company shall not be responsible for the safe custody of such moneys or for interest thereon except such interest (if any) as said moneys may earn whilst on deposit less any expenses incurred by the Company in connection therewith. Any such amount so paid or deposited which remains unclaimed after a period of twelve years from the making of the payment in or deposit shall revert to the Company notwithstanding that in the intervening period the obligations to pay the same may have been provided for in the books accounts and other records of the Company.

Surrender of Certificate. 2.1 EVERY Noteholder 5.1 Every Stockholder any part of whose Notes Loan Stock is due to be repaid under any of the provision provisions of these Conditions shall conditions shall, not later than the due date for such prepayment repayment, deliver up the relevant certificates for such Loan Stock to the Company at its registered office for the time being or such other place as of the Company may from time to time notify or as it shall direct. Unless payment of the Noteholders the Certificate(s) of his Notes which are amount due to be repaid has already been made in order that the same may be cancelled and accordance with condition 4 above, upon such delivery and against a receipt if the Company shall so require for the principal moneys payable in respect of the Notes Loan Stock to be redeemed repaid, the Company shall shall, subject to the terms of the intercreditor agreement pay to the Noteholder Stockholder the amount payable to him in respect of such redemption and such payment shall repayment in accordance with condition 4. If part only of any Loan Stock as evidenced by the relevant certificate so delivered is then due to be made through a bank on behalf of the Company if repaid, the Company shall think fit PROVIDED THAT if any Certificate(s) so delivered either endorse such Loan Stock certificate with a memorandum of the date and amount paid to the Company includes any Notes not redeemable on holder of such Loan Stock and return it to the occasion on which it is so delivered Stockholder or shall cancel such Loan Stock certificate and without charge issue to such Stockholder a fresh Certificate new Loan Stock certificate for the balance of the Notes not redeemable on that occasion shall be issued free of charge principal amount due to the Noteholder delivering such Certificate to the Companyhim. 2.2 5.2 If any Noteholder Stockholder, any part of whose Notes Loan Stock is liable to be repaid under these Conditions conditions, shall fail or refuse to deliver up the Certificate(scertificate(s) for such Notes Loan Stock at the time and place fixed for repayment thereof or shall should fail or refuse to accept payment of the redemption or the repayment moneys monies payable in respect thereof thereof, the moneys monies payable to such Noteholder Stockholder shall be set aside by the Company and paid into a separate interest bearing bank account and held by the Company in trust for such Noteholder Stockholder but without interest and such setting aside shall be deemed for all the purposes of these Conditions conditions to be a payment to such Noteholder Stockholder and the Company shall thereby be discharged from all obligations in connection with such NotesLoan Stock. If the Company shall place the said moneys monies on deposit at a bank bank, the Company shall not be responsible for the safe custody of such moneys monies or for interest thereon except such interest (if any) as the said moneys monies may earn whilst on deposit deposit, less any expenses incurred by the Company in connection therewith. Any such amount so paid or deposited which remains unclaimed after a period of twelve years from the making of the payment in or deposit shall revert to the Company notwithstanding that in the intervening period the obligations to pay the same may have been provided for in the books accounts and other records of the Company.