Common use of Terms and Issue of Subscription Receipts Clause in Contracts

Terms and Issue of Subscription Receipts. (a) Each Subscription Receipt shall evidence the right of the holder: (i) if the Acquisition Time occurs by the Deadline, to receive, for no additional consideration, one Unit plus such holder’s Acquisition Payment less applicable withholding taxes; or (ii) if the Acquisition Time does not occur by the Deadline, the EnCana Acquisition is terminated at any earlier time or the Trust has advised the Underwriters or announced to the public that it does not intend to proceed with the EnCana Acquisition, to receive an amount equal to the sum of the Subscription Price and such holder’s pro rata share of the Earned Interest, less applicable withholding taxes, all in the manner and on the terms and conditions set out in this Agreement. (b) A maximum of 17,800,000 Subscription Receipts are hereby created and authorized to be issued. (c) The Subscription Receipt Certificates (including all replacements issued in accordance with this Agreement) shall be substantially in the form attached hereto as Schedule “A”, shall bear such distinguishing letters and numbers as the Trust may, with the approval of the Escrow Agent and CDS prescribe, and shall be issuable in any whole number denominations. (d) The Escrow Agent is hereby directed, immediately following the execution and delivery of this Agreement, to execute, issue and deliver to the Lead Underwriter, on behalf of the Underwriters, one or more definitive Subscription Receipt Certificates in the form of a Global Subscription Receipt representing 17,800,000 Subscription Receipts registered in the name of CDS (or its nominee).

Terms and Issue of Subscription Receipts. ‌ (a) Each Subscription Receipt shall evidence the right of the holder: (i) if the Acquisition Satisfaction Time occurs by the Deadline, to receive, for no additional considerationconsideration and without further action, one Unit plus such holder’s Acquisition Payment less applicable withholding taxesUnit; or (ii) if the Acquisition Time does not occur by the Deadline, the EnCana Acquisition Amalgamation Agreement is terminated at any earlier time or the Trust Corporation has advised the Underwriters or announced to the public that it does not intend to proceed with the EnCana AcquisitionAmalgamation or the Satisfaction Time does not occur, in any such case, by the Deadline, to receive an amount equal to the sum of the Subscription Price and such holder’s pro rata share of the aggregate of the Earned Interest and the Reimbursement Interest, less applicable withholding taxes, all in the manner and on the terms and conditions set out in this Agreement. (b) A maximum of 17,800,000 24,000,000 Subscription Receipts are hereby created and authorized to be issued. (c) The Subscription Receipt Certificates (including all replacements issued in accordance with this Agreement) shall be substantially in the form attached hereto as Schedule “"A”", shall bear such legends and such distinguishing letters and numbers as the Trust Corporation may, with the approval of the Escrow Agent and CDS prescribeSubscription Receipt Agent, prescribe and shall be issuable in any whole number denominations. (d) The Escrow Subscription Receipt Agent is hereby directed, immediately following the execution and delivery of this Agreement, to execute, issue and deliver to the Lead Underwriter, on behalf of the Underwriters, one or more definitive Subscription Receipt Certificates representing a maximum of 24,000,000 Subscription Receipts, registered and delivered as directed by the Corporation in the form of a Global Subscription Receipt representing 17,800,000 Subscription Receipts registered in the name of CDS (or its nominee)writing.