Surrender of Notes; Issuance of New Certificates Sample Clauses

The 'Surrender of Notes; Issuance of New Certificates' clause governs the process by which holders of existing notes or certificates must return, or surrender, their old instruments in order to receive new or replacement certificates. Typically, this occurs in situations such as refinancing, restructuring, or when certificates are lost, destroyed, or need to be reissued due to changes in ownership or terms. By establishing a clear procedure for exchanging old notes for new ones, this clause ensures the integrity of record-keeping and prevents the possibility of duplicate or fraudulent claims.
Surrender of Notes; Issuance of New Certificates. Promptly following a Holder's receipt of notice that the Placement Closing has occurred, the Holder shall deliver his original Note to the Company for cancellation in exchange for his Conversion Shares. Promptly following the Company's receipt of the original Note from the Holder, the Company, at its expense, shall deliver to the Holder, in the Holder's name, a certificate representing the number of fully paid and non-assessable Conversion Shares into which the Note has been converted in accordance with the provisions of Section 1.2 above. Subject to the foregoing provisions hereof, such conversion shall be deemed to have occurred on the date of the Placement Closing so that Holder shall be treated for all purposes as having become the record holder of the Conversion Shares at such time.
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Surrender of Notes; Issuance of New Certificates. Promptly following a Holder's receipt of notice that the Placement Closing has occurred, the Holder shall deliver his original Note to the Company for cancellation in exchange for his Note Exchange Shares. Promptly following the Company's receipt of the original Note from the Holder, the Company, at its expense, shall deliver to the Holder, in the Holder's name, a certificate representing the number of fully paid and non-assessable Note Exchange Shares for which the Note has been exchanged as set forth on Schedule I hereto and a check in payment of accrued interest on his Notes. Subject to the foregoing provisions hereof, such exchange shall be deemed to have occurred on the date of the Placement Closing so that Holder shall be treated for all purposes as having become the record holder of the Note Exchange Shares at such time.
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Surrender of Notes; Issuance of New Certificates. The Holder shall deliver his original Note(s) to the Company for cancellation in exchange for the Conversion Shares. Promptly following the Company's receipt of the original Notes from the Holder, the Company, at its expense, shall deliver to the Holder, in the Holder's name, a certificate representing the number of fully paid and non-assessable Conversion Shares into which the Note has been converted
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Related to Surrender of Notes; Issuance of New Certificates

  • Issuance of New Certificate to Pledgee In the event certificates have been issued, a pledgee of shares transferred as collateral security shall be entitled to a new certificate if the instrument of transfer substantially describes the debt or duty that is intended to be secured thereby. Such new certificate shall express on its face that it is held as collateral security, and the name of the pledgor shall be stated thereon, who alone shall be liable as a shareholder, and entitled to vote thereon.

  • Issuance of New Certificates to Pledgee A pledgee of Shares transferred as collateral security shall be entitled to a new certificate if the instrument of transfer substantially describes the debt or duty that is intended to be secured thereby. Such new certificate shall express on its face that it is held as collateral security, and the name of pledgor shall be stated thereon, who alone shall be liable as a Shareholder and entitled to vote thereon.

  • Issuance of New Notes Whenever the Company is required to issue a new Note pursuant to the terms hereof, such new Note (i) shall be of like tenor with this Note, (ii) shall represent, as indicated on the face of such new Note, the Principal remaining outstanding (or in the case of a new Note being issued pursuant to Section (4)(a) or Section (4)(c), the Principal designated by the Holder which, when added to the Principal represented by the other new Note(s) issued in connection with such issuance, does not exceed the Principal remaining outstanding under this Note immediately prior to such issuance of such new Note), (iii) shall have an issuance date, as indicated on the face of such new Note, which is the same as the Issuance Date of this Note, (iv) shall have the same rights and conditions as this Note, and (v) shall represent accrued and unpaid Interest from the Issuance Date.

  • Issuance of New Right Certificates Notwithstanding any of the provisions of this Agreement or of the Rights to the contrary, the Company may, at its option, issue new Right Certificates evidencing Rights in such form as may be approved by its Board of Directors to reflect any adjustment or change in the Purchase Price and the number or kind or class of shares or other securities or property purchasable under the Right Certificates made in accordance with the provisions of this Agreement.

  • Issuance of New Warrant Certificates Notwithstanding any of the provisions of this Agreement or of the Warrants to the contrary, the Company may, at its option, issue new Warrant Certificates evidencing Warrants in such form as may be approved by its Board of Directors to reflect any adjustment or change in the Exercise Price per share and the number or kind or class of shares of stock or other securities or property purchasable under the several Warrant Certificates made in accordance with the provisions of this Agreement.