09-08-25-R - Laserfiche WebLink

Home Browse Search

writing, the Registrar will authenticate and deliver, in the name of the designated transferee, one new Obligation in an aggregate principal amount equal to the then outstanding principal amount of the Obligation so surrendered and of like maturity, as requested by the transferor. The Registrar may, however, close the books for registration of any transfer after the 1511 day of the month preceding each interest payment date until the next interest payment date. iii. Issuance of New Obligations Subject to the provisions of clause x of this subsection, the Issuer, at the request and expense of the Registered Owner, must issue new Obligations in aggregate outstanding principal amount equal to that of the Obligations surrendered, and of like tenor except as to number, principal amount, and, if applicable, the amount of the monthly installments payable under the surrendered Obligations, and registered in the name of the Registered Owner or transferee designated by the Registered Owner. iv. Exchange of Obligations. When an Obligation is surrendered by the Registered Owner for exchange the Registrar will authenticate and deliver one new Obligation in an aggregate principal amount equal to the then outstanding principal amount of the Obligation surrendered and of like maturity, as requested in writing by the Registered Owner or the Registered Owner's attorney. V. Cancellation. An Obligation surrendered upon any transfer or exchange will be promptly canceled by the Registrar and thereafter disposed of as directed by the Issuer. vi. Improper or Unauthorized Transfer. When an Obligation is presented to the Registrar for transfer, the Registrar may refuse to transfer the Obligation so presented until the Registrar is satisfied that the endorsement on the Obligation or separate instrument of transfer is valid and genuine and that the requested transfer is legally authorized. The Registrar will incur no liability for the refusal, in good faith, to make transfers which it, in its judgment, deems improper or unauthorized. vii. Persons Deemed Owners The Issuer and the Registrar may treat the person in whose name an Obligation is registered in the bond register as the absolute owner of the Obligation, whether the Obligation is overdue or not, for the purpose of receiving payment of, or on account of, the principal of and interest on the Obligation and for all other purposes, and payment so made to a Registered Owner or upon the Registered Owner's order will be valid and effectual to satisfy and discharge the liability upon the Obligation to the extent of the sum or sums so paid. viii. Taxes, Fees and Charges For a transfer or exchange of an Obligation, the Registrar may impose a charge upon the Registered Owner sufficient to reimburse the Registrar for any tax, fee or other governmental charge required to be paid with respect to the transfer or exchange. ix. Mutilated, Lost, Stolen or Destroyed Obligations. If an Obligation becomes mutilated or is destroyed, stolen or lost, the Registrar will deliver a new Obligation of like amount, number, maturity date, redemption privilege and Page 7