Common use of Exchanges of Debentures Clause in Contracts

Exchanges of Debentures. 3.6.1 Subject to Section 3.7, Debentures in any authorized form or denomination, other than Global Debentures, may be exchanged for Debentures in any other authorized form or denomination, of the same series and date of maturity, bearing the same interest rate and of the same aggregate principal amount as the Debentures so exchanged. 3.6.2 In respect of exchanges of Debentures permitted by Section 3.6.1, Debentures of any series may be exchanged only at the principal office of the Debenture Agent in Montréal, Québec and at the branch office in Toronto, Ontario or at such other place or places, if any, as may be specified in the Debentures of such series and at such other place or places as may from time to time be designated by the Corporation with the approval of the Debenture Agent. Any Debentures tendered for exchange shall be surrendered to the Debenture Agent. The Corporation shall execute and the Debenture Agent shall certify all Debentures necessary to carry out exchanges as aforesaid. All Debentures surrendered for exchange shall be cancelled. 3.6.3 Debentures issued in exchange for Debentures which at the time of such issue have been selected or called for redemption at a later date shall be deemed to have been selected or called for redemption in the same manner and shall have noted thereon a statement to that effect.

Exchanges of Debentures. 3.6.1 (a) Subject to Section 3.7, Debentures in any authorized form or denomination, other than Global Debentures, may be exchanged for Debentures in any other authorized form or denomination, of the same series and date of maturity, bearing the same interest rate and of the same aggregate principal amount as the Debentures so exchanged. 3.6.2 (b) In respect of exchanges of Debentures permitted by Section 3.6.13.6(a), Debentures of any series may be exchanged only at the principal office offices of the Debenture Agent Trustee in Montréalthe cities of Calgary, Québec Alberta and at the branch office in Toronto, Ontario or at such other place or places, if any, as may be specified in the Debentures of such series and at such other place or places as may from time to time be designated by the Corporation with the approval of the Debenture AgentTrustee. Any Debentures tendered for exchange shall be surrendered to the Debenture AgentTrustee. The Corporation shall execute and the Debenture Agent Trustee shall certify all Debentures necessary to carry out exchanges as aforesaid. All Debentures surrendered for exchange shall be cancelled. 3.6.3 (c) Debentures issued in exchange for Debentures which at the time of such issue have been selected or called for redemption at a later date shall be deemed to have been selected or called for redemption in the same manner and shall have noted thereon a statement to that effect.