Common use of Completion of Conversion Clause in Contracts

Completion of Conversion. (1) Subject to Sections 4.01, at least five Business Days before the date of conversion set forth in a Notice of Conversion, the Corporation will deliver to the Trustee on account of the Holder for delivery to each Holder whose Debentures are to be converted pursuant to Section 4.01, for each $1,000 principal amount of Debentures to be converted: (a) certificates for the Common Shares to which the Holder is entitled; and (b) if the Holder has elected to convert a principal amount of Debentures (the “exercised amount”) which is less than the principal amount of all Debentures of which such Person is the Holder immediately prior to such exercise (the “registered amount”), Debentures registered in the name of such Holder in an aggregate principal amount equal to the amount by which the registered amount exceeds the exercised amount, less in all cases any Taxes required to be deducted. (2) At least four Business Days before the date of conversion set forth in a Notice of Conversion and prior to the delivery of certificates for Common Shares pursuant to Section 4.03(1), the Corporation will deliver to the Trustee on account of each such Holder a certified cheque, bank draft or electronic funds transfer for the amount of all accrued and unpaid interest on such Debentures and the amount in respect of any fractional Common Shares to be paid in accordance with Section 4.04, if any, less any Taxes required to be deducted. (3) All Debentures converted in whole or in part will be delivered to and cancelled by the Trustee in accordance with Article 8 and the Trustee will amend the register maintained by it accordingly.