Common use of Giving Effect to the Arrangement Clause in Contracts

Giving Effect to the Arrangement. The Arrangement shall be effected in the following manner: (a) The Parties shall proceed forthwith to apply for the Interim Order providing for, among other things, the calling and holding of the Petro Basin Meeting for the purpose of, among other things, considering and, if deemed advisable, approving and adopting the Arrangement; (b) If required, the Subco Shareholder(s) shall approve the Arrangement by a special resolution; (c) Upon obtaining the Interim Order, Petro Basin shall call the Petro Basin Meeting and mail the Information Circular and related Notice of Meeting and form of Proxy to the Petro Basin Shareholders; (d) If the Petro Basin Shareholders approve the Arrangement as set out in §3.3 hereof, Petro Basin shall thereafter (subject to the exercise of any discretionary authority granted to ▇▇▇▇▇ ▇▇▇▇▇’s directors by the Petro Basin Shareholders) take the necessary actions to submit the Arrangement to the Court for approval and grant of the Final Order; and (e) Upon receipt of the Final Order, Petro Basin shall, subject to compliance with any of the other conditions provided for in Article 3.3 hereof and to the rights of termination contained in Article 7 hereof, file the material described in §5.1 with the Director in accordance with the terms of the Plan of Arrangement.

Giving Effect to the Arrangement. The Arrangement shall be effected in the following manner: (a) The Parties shall proceed forthwith to apply for the Interim Order providing for, among other things, the calling and holding of the Petro Basin Meeting for the purpose of, among other things, considering and, if deemed advisable, approving and adopting the Arrangement; (b) If required, the Subco Centennial Shareholder(s) and Glenwood Shareholder(s) shall approve the Arrangement by a special resolution; (c) Upon obtaining the Interim Order, Petro Basin shall call the Petro Basin Meeting and mail the Information Circular and related Notice of Meeting and form of Proxy to the Petro Basin Shareholders; (d) If the Petro Basin Shareholders approve the Arrangement as set out in §3.3 hereofArrangement, Petro Basin shall thereafter (subject to the exercise of any discretionary authority granted to ▇▇▇▇▇ ▇▇▇▇▇Petro Basin’s directors by the Petro Basin Shareholders) take the necessary actions to submit the Arrangement to the Court for approval and grant of the Final Order; and (e) Upon receipt of the Final Order, Petro Basin shall, subject to compliance with any of the other conditions provided for in Article 3.3 5 hereof and to the rights of termination contained in Article 7 hereof, file the required material described in §5.1 with the Director in accordance with the terms of the Plan of Arrangement.

Giving Effect to the Arrangement. The Arrangement shall be effected in the following manner: (a) The Parties shall proceed forthwith to apply for the Interim Order providing for, among other things, the calling and holding of the Petro Basin Meeting for the purpose of, among other things, considering and, if deemed advisable, approving and adopting the Arrangement; (b) If required, the Subco Shareholder(s) shall approve the Arrangement by a special resolution; (c) Upon obtaining the Interim Order, Petro Basin shall call the Petro Basin Meeting and mail the Information Circular and related Notice of Meeting and form of Proxy to the Petro Basin Shareholders; (d) If the Petro Basin Shareholders approve the Arrangement as set out in §3.3 hereof, Petro Basin shall thereafter (subject to the exercise of any discretionary authority granted to ▇▇▇▇▇ ▇▇▇▇▇Petro Basin’s directors by the Petro Basin Shareholders) take the necessary actions to submit the Arrangement to the Court for approval and grant of the Final Order; and (e) Upon receipt of the Final Order, Petro Basin shall, subject to compliance with any of the other conditions provided for in Article 3.3 hereof and to the rights of termination contained in Article 7 hereof, file the material described in §5.1 with the Director in accordance with the terms of the Plan of Arrangement.