Common use of Deposit of Maturity Monies Clause in Contracts

Deposit of Maturity Monies. Payment on maturity of Debentures shall be provided for by the Corporation depositing by certified cheque or wire transfer with the Trustee or any paying agent to the order of the Trustee, on or before 11:00 a.m. (Calgary time) on the Business Day immediately prior to the Maturity Date such sums of money as may be sufficient to pay all accrued and unpaid interest thereon up to but excluding the Maturity Date. The Corporation shall also deposit with the Trustee a sum of money sufficient to pay any charges or expenses which may be incurred by the Trustee in connection therewith. Every such deposit shall be irrevocable. From the sums so deposited, the Trustee shall pay or cause to be paid to the holders of such Debentures who elect to receive payment, upon surrender of such Debentures, the principal and interest to which they are respectively entitled on the Maturity Date.

Deposit of Maturity Monies. Payment on maturity of Debentures shall be provided for by the Corporation depositing by certified cheque or wire transfer with the Trustee or any paying agent to the order of the Trustee, on or before 11:00 a.m. (Calgary Montréal time) on the not less than one Business Day immediately prior to the Maturity Date such sums of money as may be sufficient to pay all accrued and unpaid interest thereon up to but and excluding the Maturity Date. The Corporation shall also deposit with the Trustee a sum of money sufficient to pay any charges or expenses which may be incurred by the Trustee in connection therewith. Every such deposit shall be irrevocable. From the sums so deposited, the Trustee shall pay or cause to be paid to the holders of such Debentures who elect to receive paymentDebentures, upon surrender of such Debentures, the principal and interest to which they are respectively entitled on the Maturity Date.