Common use of Protection of Subscription Receipt Agent Clause in Contracts

Protection of Subscription Receipt Agent. The Subscription Receipt Agent: (a) shall not at any time be under any duty or responsibility to any Subscription Receiptholder to determine whether any facts exist which may require any adjustment to be made, or with respect to the method employed in making the same; (b) shall not be accountable with respect to the validity or value (or kind or amount) of any Common Share or Warrants, or other securities or property which may at any time be issued or delivered upon the automatic exercise of the rights attaching to any Subscription Receipt; (c) shall not incur any liability or responsibility whatever or be in any way responsible for the consequence of any breach on the part of the Corporation of any of the representations, warranties or covenants herein contained or of any acts of the agents or servants of the Corporation; and (d) shall be entitled to act and rely on any adjustment calculation of the directors or the Corporation’s Auditors.

Protection of Subscription Receipt Agent. The Subscription Receipt Agent: (a) shall is not at any time be under any duty or responsibility to any a Subscription Receiptholder to determine whether any facts exist which may require any adjustment contemplated by Section 5.01, or with respect to be the nature or extent of any such adjustment when made, or with respect to the method employed in making the same; (b) shall not be accountable with respect to the validity or value (or kind or amount) of any Common Share or Warrants, or other securities or property which may at any time be issued or delivered upon the automatic exercise of the rights attaching to any Subscription Receipt; (c) shall not incur any liability or responsibility whatever whatsoever or be in any way responsible for the consequence of any breach on the part of the Corporation of any of the representations, warranties or covenants herein contained or of any acts of the agents or servants of the Corporation; (c) shall not be accountable with respect to the validity or value (or the kind or amount) of any shares or other securities or property which may at any time be issued or delivered upon the automatic conversion of the rights attaching to any Subscription Receipt; and (d) shall not be entitled to act and rely on responsible for any adjustment calculation failure of the directors or Corporation to comply with any of the Corporation’s Auditorscovenants contained in this Article.