Common use of Satisfaction of Issuance Right Clause in Contracts

Satisfaction of Issuance Right. (a) Effective upon the deemed exercise of the Issuance Right in accordance with Section 3.2(a) hereof and the issuance of Resulting Issuer Shares relating thereto as contemplated herein, the Issuance Right shall have been satisfied and the Subscription Receipts relating thereto shall be void and of no value or effect. (b) If, in the opinion of Company Counsel or Kitrinor Counsel, any instrument is required to be filed with, or any permission, order or ruling is required to be obtained from, any securities administrator, regulatory agency or governmental authority in Canada or any other step is required under any federal or provincial law of Canada before the Resulting Issuer Shares issuable upon exercise of the Subscription Receipts may be issued to a Receiptholder, the Company and Kitrinor each covenant that each shall use their best efforts to file such instrument, obtain such permission, order or ruling or take all such other actions, at its expense, as is required or appropriate in the circumstances.

Satisfaction of Issuance Right. (a) Effective upon the deemed exercise of the Issuance Right in accordance with Section 3.2(a) hereof and the issuance of Resulting Issuer Common Shares and Warrants relating thereto as contemplated herein, the Issuance Right shall have been satisfied and the Subscription Receipts relating thereto shall be void and of no value or effect. (b) If, in the opinion of Company Counsel or Kitrinor Counsel, any instrument is required to be filed with, or any permission, order or ruling is required to be obtained from, any securities administrator, regulatory agency or governmental authority in Canada or any other step is required under any federal or provincial law of Canada before the Resulting Issuer Common Shares and Warrants issuable upon exercise exchange of the Subscription Receipts may be issued to a Receiptholder, the Company and Kitrinor each covenant covenants that each shall it will use their its best efforts to file such instrument, obtain such permission, order or ruling or take all such other actions, at its expense, as is required or appropriate in the circumstances.