Common use of Effect of Exercise of Conversion Right Clause in Contracts

Effect of Exercise of Conversion Right. (a) Upon the exercise of the Conversion Right pursuant to Section 5.1, 5.2 or 5.3, and subject to Section 5.5, the Common Shares subscribed for shall be deemed to have been issued and the applicable Debentureholder shall be deemed to have become the holder of record of such Common Shares on the Conversion Date unless the transfer registers of the Corporation shall be closed on such date (including by application of any Applicable Law), in which case the Common Shares subscribed for shall be deemed to have been issued and such Debentureholder deemed to have become the holder of record of such Common Shares, on the date on which such transfer registers are reopened. (b) Within 5 Business Days after the Conversion Date, the Corporation shall cause to be delivered to such Debentureholder, as specified in the exercise notice referred to in Section 5.1(c), a share certificate for the appropriate number of Common Shares acquired and a calculation of any adjustment to the original Conversion Price; provided that such Debentureholder simultaneously surrenders its Debenture to the Trustee for cancellation, in whole or in part, as applicable.

Effect of Exercise of Conversion Right. (a) Upon the exercise of the Conversion Right pursuant to Section 5.1, 5.2 5.1 or 5.35.2, and subject to Section 5.55.4, the Common Shares subscribed for shall be deemed to have been issued and the applicable Debentureholder shall be deemed to have become the holder of record of such Common Shares on the Conversion Date unless the transfer registers of the Corporation shall be closed on such date (including by application of any Applicable Law), in which case the Common Shares subscribed for shall be deemed to have been issued and such Debentureholder deemed to have become the holder of record of such Common Shares, on the date on which such transfer registers are reopened. (b) Within 5 Business Days after the Conversion Date, the Corporation shall cause to be delivered to such Debentureholder, as specified in the exercise notice referred to in Section 5.1(c), a share certificate for the appropriate number of Common Shares acquired and a calculation of any adjustment to the original Conversion Price; provided that such Debentureholder simultaneously surrenders its Debenture to the Trustee for cancellation, in whole or in part, as applicable.