Contractual Right of Rescission. In the event that the amended and restated prospectus supplement dated January 30, 2014 (amending and restating the prospectus supplement dated January 28, 2014) to its base shelf prospectus dated February 12, 2013 filed with the Canadian securities regulatory authority in each Province of Canada (the “Prospectus”) qualifying the distribution of the Series 1 Debentures, or any amendment thereto, contains a misrepresentation (as defined under applicable securities laws), original purchasers of the Series 1 Debentures that have exercised the conversion privilege described in Section 3 of Schedule A and converted their Series 1 Debentures into Common Shares will have a contractual right of rescission against the Company entitling them to receive from the Company, upon surrender to the Company of the Common Shares issued upon such conversion, the amount paid for such Series 1 Debentures, provided that such right of rescission is exercised within 180 days of the date of purchase of the Series 1 Debentures under the Prospectus. The foregoing contractual right of rescission shall be subject to the defences available to the Company under applicable laws, rules and instruments. No action shall be commenced to enforce the foregoing right of rescission more than 180 days after the date of purchase of the Series 1 Debentures under the Prospectus.
Appears in 1 contract
Sources: First Supplemental Indenture (North American Palladium LTD)
Contractual Right of Rescission. In the event that the amended and restated prospectus supplement dated January 30April 8, 2014 (amending and restating the prospectus supplement dated January 28, 2014) to its base shelf prospectus dated February 12, 2013 filed with the Canadian securities regulatory authority in each Province of Canada (the “Prospectus”) qualifying the distribution of the Series 1 2 Debentures, or any amendment thereto, contains a misrepresentation (as defined under applicable securities laws), original purchasers of the Series 1 2 Debentures that have exercised the conversion privilege described in Section 3 of Schedule A and converted their Series 1 2 Debentures into Common Shares will have a contractual right of rescission against the Company entitling them to receive from the Company, upon surrender to the Company of the Common Shares issued upon such conversion, the amount paid for such Series 1 2 Debentures, provided that such right of rescission is exercised within 180 days of the date of purchase of the Series 1 2 Debentures under the Prospectus. The foregoing contractual right of rescission shall be subject to the defences available to the Company under applicable laws, rules and instruments. No action shall be commenced to enforce the foregoing right of rescission more than 180 days after the date of purchase of the Series 1 2 Debentures under the Prospectus.
Appears in 1 contract
Sources: Second Supplemental Indenture (North American Palladium LTD)