Common use of Conversion into Common Shares Clause in Contracts

Conversion into Common Shares. (1) Upon and subject to the provisions, conditions and adjustments of this Article 5, the Holder of this Debenture shall have the right, at his, her or its option, at any time prior to the Close of Business on the last Business Day immediately preceding the Maturity Date, to obtain, in respect of each one thousand ($1,000) dollars principal amount of this Debenture converted, the Specified Number of Common Shares, to be issued as fully paid and non-assessable shares from treasury, the subscription price for such Common Shares to be paid and satisfied by the surrender by the Holder to the Transfer Agent of all or any integral multiple of one thousand ($1,000) dollars of this Debenture provided, for greater certainty, that (i) the Holder's right to exercise his, her or its conversion rights under Section 5.1 shall not exist in the event of any prior notice of redemption has been given by the Company and (ii) if any Debenture shall fail to be redeemed on the Maturity Date when such redemption was required to be made, the right to convert into Common Shares under this Section 5.1 shall again apply. (2) The right of conversion pursuant to this Article 5 shall extend only to the maximum number of whole Common Shares into which the aggregate principal amount of this Debenture surrendered in exercise of the conversion rights at any one time that may be obtained in accordance with the provisions of subsection 5.1(1). Fractional interests in Common Shares shall be adjusted for in the manner provided in Section 5.5.