Common use of Authorized Capital and Outstanding Securities Clause in Contracts

Authorized Capital and Outstanding Securities. The authorized capital of APIF consists of an unlimited number of Units, of which, as at May 31, 2009, 77,953,183 Units were issued and outstanding. APIF also has, as at such date, Series 1 Debentures and Series 2 Debentures with a principal amount of $84,964,000 and $60,000,000 outstanding, respectively, and Algonquin (AirSource) Power LP had as at May 31, 2009 outstanding 1,655,718 units exchangeable (using an exchange ratio of 1 to 0.9808) for an aggregate of 1,623,928 Units. The continuous disclosure provided in respect of APIF is accurate in all material respects regarding issued and outstanding subscriptions, options, warrants, conversion privileges, exchange rights or similar options, calls, rights, commitments or agreements of any character creating an obligation on the part of APIF to issue, deliver or sell Units or other ownership interests in APIF;

Authorized Capital and Outstanding Securities. The authorized capital of APIF consists of an unlimited number of UnitsAPIF units, of which, which as at May 31January 30, 2009, 77,953,183 Units 2007 73,007,823 APIF units were issued and outstanding. APIF also has, as at such date, has Series 1 Debentures and Series 2 Debentures convertible debentures with a principal amount of $84,964,000 84,980,000 and $60,000,000 outstanding, respectively, and Algonquin (AirSource) Power LP had as at May 31January 30, 2009 2007 outstanding 1,655,718 3,120,704 units exchangeable (using an exchange ratio of 1 to 0.9808) for an aggregate of 1,623,928 Units3,060,786 APIF trust units. The continuous disclosure provided in respect of APIF together with the information disclosed herein is accurate in all material respects regarding issued and outstanding subscriptions, options, warrants, conversion privileges, exchange rights or similar options, calls, rights, commitments or agreements of any character creating an obligation on the part of APIF to issue, deliver or sell Units APIF units or other ownership interests in APIF;