Common use of Over Allotment Option Clause in Contracts

Over Allotment Option. The Over-Allotment Option may be exercised by CFCC on behalf of the Underwriters at any time, in whole or in part by delivering notice to the Company not later than 5:00 p.m. (Vancouver time) on the 30th day after the Closing Date, which notice will specify the number of Additional Shares to be purchased by the Underwriters and the date (the "Option Closing Date") and time (the "Option Closing Time") on and at which such Additional Shares are to be purchased. Such Option Closing Date may be the same as (but not earlier than) the Closing Date and will not be earlier than two Business Days nor later than five Business Days after the date of delivery of such notice (except to the extent a shorter or longer period shall be agreed to by the Company). Subject to the terms of this agreement, upon CFCC furnishing this notice, the Underwriters will be committed to purchase, in the respective percentages set forth in Section 18, and the Company will be committed to issue and sell in accordance with and subject to the provisions of this Agreement, the number of Additional Shares indicated in the notice. Additional Shares may be purchased by the Underwriters only for the purpose of satisfying over-allotments made in connection with the Offering.

Over Allotment Option. The Over-Allotment Option may be exercised by CFCC on behalf of the Underwriters at any time and from time to time, in whole or in part by delivering notice to the Company Corporation not later than 5:00 p.m. (Vancouver time) on the 30th day after the Closing Date, which notice will specify the number of Additional Shares to be purchased by the Underwriters and the date (the "Option Closing Date") and time (the "Option Closing Time") on and at which such Additional Shares are to be purchased. Such Option Closing Date may be the same as (but not earlier than) the Closing Date and will not be earlier than two Business Days nor later than five three Business Days after the date of delivery of such notice (except to the extent a shorter or longer period shall be agreed to by the CompanyCorporation). Subject to the terms of this agreementAgreement, upon CFCC the Underwriters furnishing this notice, the Underwriters will be committed to purchase, in the respective percentages set forth in Section 1822, and the Company Corporation will be committed to issue and sell in accordance with and subject to the provisions of this Agreement, the number of Additional Shares indicated in the notice. Additional Shares may be purchased by the Underwriters only for the purpose of satisfying over-allotments made in connection with the Offering.

Over Allotment Option. The Over-Allotment Option may be exercised by CFCC on behalf of the Underwriters at any time, in whole or in part by delivering notice to the Company not later than 5:00 p.m. (Vancouver time) on the 30th day after the Closing Date, which notice will specify the number of Additional Shares to be purchased by the Underwriters and the date (the "“Option Closing Date"”) and time (the "“Option Closing Time"”) on and at which such Additional Shares are to be purchased. Such Option Closing Date may be the same as (but not earlier than) the Closing Date and will not be earlier than two Business Days nor later than five Business Days after the date of delivery of such notice (except to the extent a shorter or longer period shall be agreed to by the Company). Subject to the terms of this agreement, upon CFCC furnishing this notice, the Underwriters will be committed to purchase, in the respective percentages set forth in Section 18, and the Company will be committed to issue and sell in accordance with and subject to the provisions of this Agreement, the number of Additional Shares indicated in the notice. Additional Shares may be purchased by the Underwriters only for the purpose of satisfying over-allotments made in connection with the Offering.

Over Allotment Option. The Over-Allotment Option may be exercised by CFCC on behalf of the Underwriters at any time, in whole or in part by delivering notice to the Company not later than 5:00 p.m. (Vancouver time) on the 30th day after the Closing Date, which notice will specify the number of Additional Shares to be purchased by the Underwriters Underwriter and the date (the "“Option Closing Date"”) and time (the "“Option Closing Time"”) on and at which such Additional Shares are to be purchased. Such Option Closing Date may be the same as (but not earlier than) the Closing Date and will not be earlier than two Business Days nor later than five Business Days after the date of delivery of such notice (except to the extent a shorter or longer period shall be agreed to by the Company). Subject to the terms of this agreement, upon CFCC furnishing this notice, the Underwriters CFCC will be committed to purchase, in the respective percentages set forth in Section 18, and the Company will be committed to issue and sell in accordance with and subject to the provisions of this Agreement, the number of Additional Shares indicated in the notice. Additional Shares may be purchased by the Underwriters Underwriter only for the purpose of satisfying over-allotments made in connection with the Offering.

Over Allotment Option. The Over-Allotment Option may be exercised by CFCC on behalf of the Underwriters at any time, in whole or in part by delivering notice to the Company not later than 5:00 p.m. (Vancouver Toronto time) on the 30th day after the Closing Date, which notice will specify the number of Additional Shares to be purchased by the Underwriters and the date (the "Option Closing Date") and time (the "Option Closing Time") on and at which such Additional Shares are to be purchased. Such Option Closing Date may be the same as (but not earlier than) the Closing Date and will not be earlier than two Business Days nor later than five Business Days after the date of delivery of such notice (except to the extent a shorter or longer period shall be agreed to by the Company). Subject to the terms of this agreement, upon CFCC furnishing this notice, the Underwriters will be committed to purchase, in the respective percentages set forth in Section 18, and the Company will be committed to issue and sell in accordance with and subject to the provisions of this Agreement, the number of Additional Shares indicated in the notice. Additional Shares may be purchased by the Underwriters only for the purpose of satisfying over-allotments made in connection with the Offering.

Over Allotment Option. The Over-Allotment Option may be exercised by CFCC the Co-Lead Underwriters on behalf of the Underwriters at any time, in whole or in part by delivering notice to the Company not later than 5:00 p.m. (Vancouver time) on the 30th day after the Closing Date, which notice will specify the number of Additional Shares to be purchased by the Underwriters and the date (the "Option Closing Date") and time (the "Option Closing Time") on and at which such Additional Shares are to be purchased. Such Option Closing Date may be the same as (but not earlier than) the Closing Date and will not be earlier than two Business Days nor later than five Business Days after the date of delivery of such notice (except to the extent a shorter or longer period shall be agreed to by the Company). Subject to the terms of this agreement, upon CFCC the Co-Lead Underwriters furnishing this notice, the Underwriters will be committed to purchase, in the respective percentages set forth in Section 18, and the Company will be committed to issue and sell in accordance with and subject to the provisions of this Agreement, the number of Additional Shares indicated in the notice. Additional Shares may be purchased by the Underwriters only for the purpose of satisfying over-allotments made in connection with the Offering.

Over Allotment Option. The Over-Allotment Option may be exercised by CFCC on behalf of the Underwriters at any time, in whole or in part by delivering notice to the Company not later than 5:00 p.m. (Vancouver time) on the 30th day after the Closing Date, which notice will specify the number of Additional Shares to be purchased by the Underwriters and the date (the "“Option Closing Date"”) and time (the "“Option Closing Time"”) on and at which such Additional Shares are to be purchased. Such Option Closing Date may be the same as (but not earlier than) the Closing Date and will not be earlier than two Business Days nor later than five Business Days after the date of delivery of such notice (except to the extent a shorter or longer period shall be agreed to by the Company). Subject to the terms of this agreement, upon CFCC furnishing this notice, the Underwriters will be committed to purchase, in the respective percentages set forth in Section 18, and the Company will be committed to issue and sell in accordance with and subject to the provisions of this Agreement, the number of Additional Shares indicated in the notice. Additional Shares may be purchased by the Underwriters only for the purpose of satisfying over-allotments made in connection with the Offering.

Over Allotment Option. The Over-Allotment Option may be exercised by CFCC the Lead Underwriter (on its own behalf and on behalf of the Underwriters Underwriters) at any time, in whole or in part by delivering notice to the Company not later than 5:00 p.m. (Vancouver time) on the 30th day after the Closing Date, which notice will specify the number of Additional Shares to be purchased by the Underwriters and the date (the "“Option Closing Date"”) and time (the "“Option Closing Time"”) on and at which such Additional Shares are to be purchased. Such Option Closing Date may be the same as (but not earlier than) the Closing Date and will not be earlier than two Business Days nor later than five Business Days after the date of delivery of such notice (except to the extent a shorter or longer period shall be agreed to by the Company). Subject to the terms of this agreementAgreement, upon CFCC the Lead Underwriter furnishing this notice, the Underwriters will be committed to purchase, in the respective percentages set forth in Section 18, and the Company will be committed to issue and sell in accordance with and subject to the provisions of this Agreement, the number of Additional Shares indicated in the noticenotice and in accordance with the percentages set forth in Section 17 opposite the name of each Underwriter. Additional Shares may be purchased by the Underwriters only solely for the purpose purposes of satisfying over-allotments made in connection with the Offeringand for market stabilization purposes.

Over Allotment Option. The Over-Allotment Option may be exercised by CFCC the Lead Underwriter (on its own behalf and on behalf of the Underwriters Underwriters) at any time, in whole or in part by delivering notice to the Company not later than 5:00 p.m. (Vancouver time) on the 30th day after the Closing Date, which notice will specify the number of Additional Shares to be purchased by the Underwriters and the date (the "“Option Closing Date"”) and time (the "“Option Closing Time"”) on and at which such Additional Shares are to be purchased. Such Option Closing Date may be the same as (but not earlier than) the Closing Date and will not be earlier than two Business Days nor later than five Business Days after the date of delivery of such notice (except to the extent a shorter or longer period shall be agreed to by the Company). Subject to the terms of this agreement, upon CFCC the Lead Underwriter furnishing this notice, the Underwriters will be committed to purchase, in the respective percentages set forth in Section 18, and the Company will be committed to issue and sell in accordance with and subject to the provisions of this Agreement, the number of Additional Shares indicated in the noticenotice and in accordance with the percentages set forth in Section 17 opposite the name of each Underwriter. Additional Shares may be purchased by the Underwriters only solely for the purpose purposes of satisfying over-allotments made in connection with the Offeringand for market stabilization purposes.

Over Allotment Option. 4.1. The Company hereby grants to the Underwriters, in the respective percentages set out in section 22 of this agreement, an unassignable (except as expressly provided in this agreement) option (the "Over-Allotment Option") to purchase up to an additional 1,050,000 Shares (the "Additional Shares") (that amount being equal to 15% of the number of Purchased Shares) at the purchase price of Cdn. $3.00 per Additional Share. The Over-Allotment Option may be exercised by CFCC on behalf of the Underwriters at any time, in whole or in part by delivering notice prior to its expiry in accordance with the Company not later than 5:00 p.m. (Vancouver time) provisions of this agreement. Delivery of and payment for any Additional Shares will be made at the offices of Torys LLP, Toronto, Ontario, at the time on the 30th day after date as set out in the written notice of National Bank Financial Inc. referred to below (the "Option Closing Time") which may occur on the Closing Date but will in no event occur earlier than the Closing Date, nor later than five business days after the date upon which the Company receives written notice will specify from National Bank Financial Inc., on behalf of the Underwriters, setting out the number of Additional Shares to be purchased by the Underwriters and Underwriters, which notice must be received by the Company not later than 5:00 p.m. on the date (that is 30 days after the "Option Closing Date") and time (. Upon the "Option Closing Time") on and at which such Additional Shares are to be purchased. Such Option Closing Date may be furnishing of the same as (but not earlier than) the Closing Date and will not be earlier than two Business Days nor later than five Business Days after the date of delivery of such notice (except to the extent a shorter or longer period shall be agreed to by the Company). Subject to the terms of this agreement, upon CFCC furnishing this notice, the Underwriters will be committed to purchase, in the respective percentages set forth in Section 18, purchase and the Company will be committed to issue and sell in accordance with and subject to the provisions of this Agreement, agreement the number of Additional Shares indicated in the notice. Additional Shares may be purchased by the Underwriters only for the purpose of satisfying over-allotments made in connection with the Offeringoffering of the Purchased Shares and for market stabilization purposes permitted pursuant to Securities Laws.

Over Allotment Option. The Over-Allotment Option may be exercised by CFCC the Co-Lead Underwriters on behalf of the Underwriters at any time, in whole or in part by delivering notice to the Company not later than 5:00 p.m. (Vancouver time) on the 30th day after the Closing Date, which notice will specify the number of Additional Shares to be purchased by the Underwriters and the date (the "“Option Closing Date"”) and time (the "“Option Closing Time"”) on and at which such Additional Shares are to be purchased. Such Option Closing Date may be the same as (but not earlier than) the Closing Date and will not be earlier than two Business Days nor later than five Business Days after the date of delivery of such notice (except to the extent a shorter or longer period shall be agreed to by the Company). Subject to the terms of this agreement, upon CFCC the Co-Lead Underwriters furnishing this notice, the Underwriters will be committed to purchase, in the respective percentages set forth in Section 18, and the Company will be committed to issue and sell in accordance with and subject to the provisions of this Agreement, the number of Additional Shares indicated in the notice. Additional Shares may be purchased by the Underwriters only for the purpose of satisfying over-allotments made in connection with the Offering.

Over Allotment Option. The Over-Allotment Option may be exercised by CFCC the Co-Lead Underwriters (on their behalf and on behalf of the Underwriters Underwriters) at any time, in whole or in part by delivering notice to the Company not later than 5:00 p.m. (Vancouver time) on the 30th day after the Closing Date, which notice will specify the number of Additional Shares to be purchased by the Underwriters and the date (the "“Option Closing Date"”) and time (the "“Option Closing Time"”) on and at which such Additional Shares are to be purchased. Such Option Closing Date may be the same as (but not earlier than) the Closing Date and will not be earlier than two Business Days nor later than five Business Days after the date of delivery of such notice (except to the extent a shorter or longer period shall be agreed to by the Company). Subject to the terms of this agreement, upon CFCC the Co-Lead Underwriters furnishing this notice, the Underwriters will be committed to purchase, in the respective percentages set forth in Section 18, and the Company will be committed to issue and sell in accordance with and subject to the provisions of this Agreement, the number of Additional Shares indicated in the noticenotice and in accordance with the percentages set forth in Section 17 opposite the name of each Underwriter. Additional Shares may be purchased by the Underwriters only solely for the purpose purposes of satisfying over-allotments made in connection with the Offeringand for market stabilization purposes.

Over Allotment Option. (1) The Company hereby grants to the Underwriters, in the respective percentages set out in Section 20 of this agreement, an option (the “Over-Allotment Option”) to purchase the Over-Allotment Shares at the Offer Price per Over-Allotment Share. The Over-Allotment Option may be exercised by CFCC on behalf of the Underwriters at any time, in whole or in part and from time to time prior to its expiry in accordance with the provisions of this Underwriting Agreement by the Co-Lead Underwriters delivering to the Company written notice of exercise, setting out the number of Over-Allotment Shares to be purchased by the Underwriters, which notice must be received by the Company not later than 5:00 p.m. (Vancouver Toronto time) on the 30th day date that is thirty (30) days after the Closing Date, which notice will specify . Upon the number furnishing of Additional Shares to be purchased by the Underwriters and the date (the "Option Closing Date") and time (the "Option Closing Time") on and at which such Additional Shares are to be purchased. Such Option Closing Date may be the same as (but not earlier than) the Closing Date and will not be earlier than two Business Days nor later than five Business Days after the date of delivery of such notice (except to the extent a shorter or longer period shall be agreed to by the Company). Subject to the terms of this agreement, upon CFCC furnishing this notice, the Underwriters will severally (and not jointly nor jointly and severally) be committed to purchase, purchase in the respective percentages set forth out in Section 18, 20 of this Underwriting Agreement and the Company will be committed to issue and sell in accordance with and subject to the provisions of this Agreement, Underwriting Agreement the number of Additional Over-Allotment Shares indicated in the notice. Additional Over-Allotment Shares may be purchased by the Underwriters only for the purpose of satisfying over-allotments made in connection with the Offeringdistribution of the Initial Shares and for market stabilization purposes permitted pursuant to Canadian Securities Laws.