Common use of CONDUCT OF THE OFFERING Clause in Contracts

CONDUCT OF THE OFFERING. 5.1 Following the Effective Date and after receiving conditional acceptance from the Exchange, the Issuer and the Agent will set the Offering Day. 5.2 The Offering Day will be on or before the earlier of the day which is: (a) 90 days after the Effective Date; and (b) 12 months after the date of the issue by the Commissions of the preliminary receipt for the Prospectus. 5.3 The Agent will advise the Issuer and its counsel in writing when the Distribution under the Prospectus is complete. 5.4 The Agent may solicit and accept subscriptions for additional shares in the Offering up to a maximum of 15% of the Offering (the "Greenshoe Option"). 5.5 The number of additional shares subject to the Greenshoe Option will be the lesser of 15% of the Offering or the actual number of additional shares for which subscriptions have been received. 5.6 The Agent will advise the Issuer and the Exchange of the number of shares subject to the Greenshoe Option prior to the opening of the market on the Offering Day, unless trading in shares of the Issuer is halted or suspended, in which case the Agent will advise the Issuer and the Exchange of the number of shares subject to the Greenshoe Option within 10 business days after the Offering Day. 5.7 On receipt of notice in writing from the Agent given within 60 calendar days of the Offering Day, the Issuer will issue and deliver to the Agent forthwith, at the Offering Price, die number of shares subject to the Greenshoe Option. 5.8 Nothing in this Agreement will prevent the Agent from purchasing additional shares on the Exchange in order to fill subscriptions for additional shares.