Common use of Surrender of Debentures Clause in Contracts

Surrender of Debentures. (a) The Company may, as a condition of payment of all or any of the principal of, and interest on, this Debenture, in whole or in part, require the holder to present this Debenture for notation of such payment and, if this Debenture be paid in full, require the surrender hereof. (b) Anything herein to the contrary notwithstanding, the entire principal plus accrued interest amount of this Debenture, or any part hereof, may be surrendered to the Company by the Holder for redemption and cancellation as payment of the exercise price of any warrant to acquire common stock of the Company. If less than the entire principal amount of this Debenture is so surrendered and redeemed, a new Debenture in the remaining outstanding principal amount shall be redelivered to the Holder.