If a certificate is worn out or lost it may be renewed on production of a worn-out certificate, or on satisfactory proof of its loss together with such indemnity as the directors may reasonably require. Any shareholder receiving a share certificate shall indemnify and hold the Company, its directors and its officers harmless from any loss or liability, which it or they may incur by reason of wrongful or fraudulent use or representation made by any person by virtue of the possession of such certificate.