Common use of Purchase for Cancellation Rights - Substantial Shareholders Clause in Contracts

Purchase for Cancellation Rights - Substantial Shareholders. Notwithstanding the purchase for cancellation rights outlined above, in the interests of all Shareholders of the Corporation certain restrictions may, in the sole discretion of the board of directors, be placed on Substantial Shareholders. A Substantial Shareholder is defined to mean a Shareholder, together with parties related (as defined in the Tax Act) to that Shareholder, who holds a total number of Shares which is equal to or greater than 10% of the total number of Shares outstanding. As long as a particular Shareholder is a Substantial Shareholder it will be restricted to submitting for purchase for cancellation no more than 20% of its Shares in any three month period. The Corporation, subject to maintaining the status of the Corporation as a MIC under the Tax Act, will maintain a dividend reinvestment and share purchase plan (the “DRIP”). Under the DRIP, Shareholders will be able to reinvest dividends in additional Shares of the Corporation. The Corporation or the Manager will administer all aspects of the DRIP.