Common use of Becoming an Established Issuer Clause in Contracts

Becoming an Established Issuer. If the Issuer is an emerging issuer on the date of this Agreement and, during this Agreement, the Issuer: (a) lists its securities on The Toronto Stock Exchange; (b) becomes a Canadian Venture Exchange (CDNX) Tier 1 issuer; (c) if the Issuer’s securities are listed on the Bourse de Montréal Inc., becomes eligible to be classified as a CDNX Tier 1 issuer; or (d) lists or quotes its securities on an exchange or market outside Canada that its “principal regulator” under National Policy 43-201 Mutual Reliance Review System for Prospectuses and Annual Information Forms or, if the Issuer has only filed its IPO prospectus in one jurisdiction, the securities regulator in that jurisdiction, is satisfied has minimum listing requirements at least equal to those of CDNX Tier 1, then the Issuer becomes an established issuer.

Becoming an Established Issuer. If the Issuer is an emerging issuer on the date of this Agreement and, during this Agreement, the Issuer: (a) lists its securities on The Toronto Stock Exchange; (b) becomes a Canadian TSX Venture Exchange (CDNXTSX) Tier 1 issuer; (c) if the Issuer’s 's securities are listed on the Bourse de Montréal Inc., becomes eligible to be classified as a CDNX TSX Tier 1 issuer; or (d) lists or quotes its securities on an exchange or market outside Canada that its “"principal regulator” " under National Policy 43-201 Mutual Reliance Review System for Prospectuses and Annual Information Forms or, if the Issuer has only filed its IPO prospectus in one jurisdiction, the securities regulator in that jurisdiction, is satisfied has minimum listing requirements at least equal to those of CDNX TSX Tier 1, then the Issuer becomes an established issuer.