Surrendered Notes Clause Samples

The 'Surrendered Notes' clause defines the process and requirements for returning or delivering promissory notes, bonds, or similar debt instruments that are being paid off, exchanged, or otherwise retired. In practice, this clause typically specifies that holders must physically or electronically surrender their notes to the issuer or a designated agent before receiving payment or new securities. For example, when a company redeems its bonds, bondholders must submit their certificates to receive the redemption amount. The core function of this clause is to ensure that outstanding obligations are properly cancelled and to prevent double claims or confusion regarding the status of the notes.
Surrendered Notes. Every Note surrendered for registration of transfer or exchange will be (i) duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Note Registrar duly executed by, the Noteholder of the Note or the Noteholder’s authorized attorney, with the signature guaranteed by an “eligible guarantor institution” meeting the requirements of the Note Registrar including membership or participation in the Securities Transfer Agents Medallion Program or another “signature guarantee program”, according to the Exchange Act and (ii) accompanied by other documents the Note Registrar may require.
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Surrendered Notes. 10 7. Mutilated, Destroyed, Stolen or Lost Notes. . . . . . . . . . . 10 8. Signatures. . . . . . . . . . . . . . . . . . . . . . . . . . . 10 9.
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Surrendered Notes. All Notes and Coupons surrendered for payment, redemption, retirement or exchange shall be delivered outside the United States to the Fiscal and Principal Paying Agent. In any such case, the Fiscal and Principal Paying Agent shall cancel all Notes and Coupons not previously canceled and shall dispose of such canceled Notes and Coupons (unless otherwise previously requested by the Corporation). Upon such destruction, the Fiscal and Principal Paying Agent shall provide the Corporation with a certificate to such effect if so requested by the Corporation.
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Related to Surrendered Notes

  • Replaced Notes If a Note is replaced pursuant to Section 2.13, then such Note will cease to be outstanding at the time of its replacement, unless the Trustee and the Company receive proof reasonably satisfactory to them that such Note is held by a “bona fide purchaser” under applicable law.

  • Notes Borrower agrees that: (i) upon written request by any Lender to Borrower for a promissory note or other evidence of indebtedness is requested by Agent for the benefit of all or any Lender to evidence the Loan and other Obligations owing or payable to, or to be made by such Lender, Borrower shall promptly (and in any event within ten (10) Business Days of any such request) execute and deliver to such Lender an appropriate promissory note or notes substantially in the form attached hereto as Exhibit D; (ii) all references to Note or Notes in the Loan Documents shall mean the Note or Notes, if any, to the extent issued (and not returned to Borrower for cancellation) hereunder, as the same may be amended, modified, divided, supplemented and/or restated from time to time; (iii) upon written request by any Lender, and in any event within ten (10) Business Days of any such request, Borrower shall execute and deliver to such Lender new Notes (on substantially the same terms and in substantially the same form) and/or divide the Notes in exchange for then existing Notes in such smaller amounts or denominations as Agent shall specify in its sole discretion; provided, that the aggregate principal amount of such new Notes shall not exceed the aggregate principal amount of the Notes outstanding at the time such request is made; and provided, further, that such Notes that are to be replaced shall then be deemed no longer outstanding hereunder and replaced by such new Notes and returned to Borrower within ten (10) days after Agent’s receipt of the replacement Notes; and (iv) upon receipt of evidence reasonably satisfactory to Borrower of the mutilation, destruction, loss or theft of any Notes and the ownership thereof, Borrower shall, upon the written request of the holder of such Notes, execute and deliver in replacement thereof new Notes in the same form, in the same original principal amount and dated the same date as the Notes so mutilated, destroyed, lost or stolen; and such Notes so mutilated, destroyed, lost or stolen shall then be deemed no longer outstanding hereunder. If the Notes being replaced have been mutilated, they shall be surrendered to Borrower after delivery of the replacement Notes.