Common use of Exchanges of Notes Clause in Contracts

Exchanges of Notes. (1) Subject to Section 3.1 and 3.6, Notes in any authorized form or denomination, other than Uncertificated Notes, may be exchanged for Notes of the same series in any other authorized form or denomination, equal to the same aggregate principal amount as the Notes so exchanged. (2) In respect of exchanges of Notes permitted by Section 3.5(1), Notes may be exchanged only at the principal offices of the Trustee in the city of Calgary, Alberta or at such other place or places, if any, as may be specified in the Notes and at such other place or places as may from time to time be designated by the Corporation with the approval of the Trustee. Any Notes surrendered for exchange shall be surrendered to the Trustee. The Corporation shall execute and the Trustee shall certify all Notes necessary to carry out exchanges as aforesaid. All Notes surrendered for exchange shall be cancelled. (3) Notes issued in exchange for Notes 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 Notes. (1) Subject to Section 3.1 and 3.6Section 3.7, Notes in any authorized form or denomination, other than Uncertificated Notes, may be exchanged for Notes of the same series in any other authorized form or denomination, equal to bearing the same interest rate and of the same aggregate principal amount as the Notes so exchanged. (2) In respect of exchanges of Notes permitted by Section 3.5(13.6(1), Notes may be exchanged only at the principal offices of the Trustee in the city of Calgary, Alberta or at such other place or places, if any, as may be specified in the Notes and at such other place or places as may from time to time be designated by the Corporation with the approval of the Trustee. Any Notes surrendered for exchange shall be surrendered to the Trustee. The Corporation shall execute and the Trustee shall certify all Notes necessary to carry out exchanges as aforesaid. All Notes surrendered for exchange shall be cancelled. (3) Notes issued in exchange for Notes 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.