Common use of Surrender of Stock Certificates Clause in Contracts

Surrender of Stock Certificates. The Managing Trustees, in their absolute discretion, may in connection with any distribution require each Beneficiary to (i) surrender their certificates evidencing capital stock of the Company (“Stock Certificates”) to the Administrator or her agent, or (ii) furnish the Trust with evidence satisfactory to the Administrator of the loss, theft or destruction of their Stock Certificates, together with such surety bond or other security or indemnity as may be required by and satisfactory to the Administrator. The Managing Trustees, in their absolute discretion, shall determine whether or not to issue certificates representing Beneficial Interests in the Trust (the “Trust Certificates”).

Surrender of Stock Certificates. The Managing TrusteesTrustee, in their his absolute discretion, may in connection with any distribution require each Beneficiary to (i) surrender their certificates evidencing capital stock of the Company (“Stock Certificates”) to the Administrator or her agentManaging Trustee, or (ii) furnish the Trust with evidence satisfactory to the Administrator Managing Trustee of the loss, theft or destruction of their Stock Certificates, together with such surety bond or other security or indemnity as may be required by and satisfactory to the AdministratorManaging Trustee. The Managing TrusteesTrustee, in their his absolute discretion, shall determine whether or not to issue certificates representing Beneficial Interests in the Trust (the “Trust Certificates”).