Common use of Held by Warrant Agent Clause in Contracts

Held by Warrant Agent. Any securities, documents of title or other instruments that may at any time be held by the Warrant Agent may be placed in the deposit vaults of the Warrant Agent or of any bank or trust company governed by the laws of Canada or deposited for safekeeping with any such bank or trust company. Unless herein otherwise expressly provided, any monies so held pending the application or withdrawal thereof under any provisions of this Agreement may be deposited in the name of the Warrant Agent in any bank or trust company governed by the laws of Canada at the rate of interest (if any) then current on similar deposits or, with the consent or instructions of the Corporation, may or shall be (i) deposited in the deposit department of the Warrant Agent or any other trust company authorized to accept deposits under the laws of Canada, or (ii) invested in securities issued or guaranteed by the Government of Canada or in obligations, maturing not more than one year from the date of investment, of any bank or trust company governed by the laws of Canada. All interest or other income received by the Warrant Agent in respect of such deposits and investments shall be remitted to the Agent to be dealt with in accordance with the Delivery Agreement.