TWENTY-FIFTH The liquidation being approved the capital the Company assets existing will divided and distributed among the shareholders in proportion their The formal beginning the same as that already given in the form Deed Sale.
If the mortgage executed in Europe the notary required insert before any the other clauses the document the certificate the Recorder showing what if any liens there are the property, which certificate must cover a period twenty years prior its date. If the mortgage executed in a foreign country this This not an nrtual translation the foregoing mortgage in Spanish eeoiiring corporate RnniiA. hut a similar one, and servea the piirpoRc exemplifying Die form and requisites.
It reproduced, tlip niirtesy.J. Kerr, from his Handbook Mesiout Other preliminary recitals show the organization the corporation, the notary certifying that has seen the authentic record incorporation, the resolutions the Board Directors and the Stockholders authorizing the issue bonds and the giving security therefor, the naming someone act Trustee, or as called under law, Representante Comun or Common Jtcpreseutative the bondholders, and are followed the clauses the First In accordance with the foregoing resolutions the A. Company has issued its bonds the amount.
dollars, which bonds are in the words and figures following, to-wit Here the bond copied in full. Second Company acknowledges having received as a loan the sum dollars represented the above described bonds and acknowledges itself indebted the holders said bonds in said amount, recognizing the loan as a mercantile transaction under the terms the Commercial Code the Republic Europe and hereby agrees pay the principal said bonds together with interest thereon at the rate per cent per annum in accordance with the tenor and effect said bonds, further agreeing cancel all coupons and bonds as the several installments interest and principal are paid.
The company shall not relieved from the obligation paying said principal and interest the lapse time provided for the prescription said principal and interest respectively and therefore the company hereby renounces the provisions Articles one thousand and ninety-one, one thousand eight hundred and forty-eight and one thousand eight hundred and fifty the Civil Code the Federal District the Republic Europe the end that in any event the property hereiniifter subjected a mortgage lien shall remain subject such lien until the full and complete payment the principal and interest the obligation represented said bonds. Third Both the principal and interest said bonds shall payable in the City and the payment Bhall made the bearer said bonds or coupons, upon presentation the same, in gold money the European Union America or its equivalent in money the current coinage the exclusion any money created or created. To give effect this clause the company adopts the provisions contained in Articles twenty, twentyone, enty-two and twenty-three the law monetary reform the twenty-fifth March, one thousand nine bimdred and five, Fourth In consideration the premises and in order secure due and punctual pro rata payment said several bonds and interest thereon the company has given, granted, bargained, sold, transferred, mortgaged, warranted and conveyed and these presents does give, grant, bargain, sell, transfer, mortgage, warrant and convey to the trustee hereinafter named all the following described property, to-wit Here insert full description the property, giving all the facts as indicated in the Deed Sale, page dll. Fifth The mortgage herein constituted for the equal pro rata benefit and security the holders the bonds above described which may issued hereunder, at whatever date the same may issued, without any preference, priority or distinction one bond over another.
Best paraphrasing online
The company agrees pay all taxes, assessments and levies that shall from time time legally imposed, assessed or levied upon the property and franchises hereby conveyed that the priority this mortgage as a first lien upon the property hereby conveyed shall at all times duly maintained and preserved, need help writing term paper and the company further covenants and agrees pay all taxes, general or special, that may levied or assessed That part this clause referring the pajnieut the obligation in gold money the European Union only used when the bonds provide for pajment that way.
If the deed executed origiaally in Europe a simple afatement that the company mortgages its property in favor the Repnaentantc Comiin Buffident, in lieu the form against the mortgage interest or estate created this document, the end that the said principal and the stipulated interest shall paid the legal holders said bonds and coupons without any reduction or rebate whatever. Sixth iio long as the company shall make all the payments principal and interest in accordance with the tenor and effect said bonds and shall fulfill all the conditions this instrument shall remain in possession said mortgaged property and may sell the products thereof subject the conditions this instrument. Seventh All the bonds guaranteed hereby shall executed immediately upon the execution this document and shall delivered the trustee, whom they shall duly certified and thereafter delivered the president the company or the person designated him. No bond shall valid or binding until the certificate endorsed the back thereof shall have been duly signed the trustee. All parties this instrument agree that the bonds issued hereunder are sold the president the company from time time as necessity arises and they therefore renounce the provisions articlca six and seven the law can you write my research paper the help on research paper twenty-ninth November, one thousand eight hundred and ninety-seven, with academic writing help centre respect the meeting the holders bonds and further agree that all matters and things which are provided in and said law decided at such meeting are fixed and determined the terms this instrument. Eighth In the event a default the company in the payment the principal or interest said bonds in strict accordance with the terms and conditions thereof, or in the event the failure the company perform any the covenants and conditions this instrument, and in the further event that auch default or failure shall continue for the term sixty days, the holders a majority the bonds then outstanding and unpaid may thereupon declare due and payable the entire principal all said bonds. Ninth In the event that the principal said bonds becomes due either the maturity thereof under their terms or determination a majority the holders thereof as herein provided, the trustee, upon the need a ghostwriter request the holder or holders representing a majority the bonds outstanding and unpaid shall have the right. Name one or more receivers who shall take possession the mortgaged property and operate the same. Take possession the mortgaged property in his own. Procure a public judicial sale the mortgaged property. The trustee may exercise simultaneously any one or more the powers herein given him and the exercise any such powers shall not prevent the tnistee from adopting any other remedies provided law for enforcing the payment the obligation secured this mortgage.