Common use of Continuance of Rights, Duties and Obligations Clause in Contracts

Continuance of Rights, Duties and Obligations. (a) Where trust funds or trust property have been deposited pursuant to Section 8.1 or 8.5, the Holders and the Issuer shall continue to have and be subject to their respective rights, duties and obligations under Article 2, Article 3 and Article 5. (b) In the event that, after the deposit of trust funds or trust property pursuant to Section 8.1 or 8.5 in respect of a particular series of Notes, the Issuer is required to make an offer to purchase any outstanding Notes of such series pursuant to the terms hereof, the Issuer shall be entitled to use any trust funds or trust property deposited with the Trustee pursuant to Section 8.1 or 8.5 for the purpose of paying to any Holders of such Notes who have accepted any such offer of the total offer price payable in respect of an offer relating to any such Notes. Upon receipt of an Issuer Order, the Trustee shall be entitled to pay to such Holder from such trust funds or trust property deposited with the Trustee pursuant to Section 8.1 or 8.5 in respect of such Notes which is applicable to the Notes held by such Holders who have accepted any such offer of the Issuer (which amount shall be based on the applicable principal amount of the Notes held by accepting offerees in relation to the aggregate outstanding principal amount of all the Notes).

Continuance of Rights, Duties and Obligations. (a) Where trust funds or trust property have been deposited pursuant to Section 8.1 10.1 or 8.510.5, the Holders and the Issuer shall continue to have and be subject to their respective rights, duties and obligations under Article 2, Article 3 4 and Article 56. (b) In the event that, after the deposit of trust funds or trust property pursuant to Section 8.1 10.1 or 8.5 10.5 in respect of a particular series of Notes, the Issuer is required to make an offer to purchase any outstanding Notes of such series pursuant to the terms hereof, the Issuer shall be entitled to use any trust funds or trust property deposited with the Trustee pursuant to Section 8.1 10.1 or 8.5 10.5 for the purpose of paying to any Holders of such Notes who have accepted any such offer of the total offer price payable in respect of an offer relating to any such Notes. Upon receipt of an Issuer Order, the Trustee shall be entitled to pay to such Holder from such trust funds or trust property deposited with the Trustee pursuant to Section 8.1 10.1 or 8.5 10.5 in respect of such Notes which is applicable to the Notes held by such Holders who have accepted any such offer of the Issuer (which amount shall be based on the applicable principal amount of the Notes held by accepting offerees in relation to the aggregate outstanding principal amount of all the Notes).

Continuance of Rights, Duties and Obligations. (a) Where trust funds or trust property have been deposited pursuant to Section 8.1 or 8.57.6, the Holders holders of Debt Securities and the Issuer Baytex shall continue to have and be subject to their respective rights, duties and obligations under Article 2, Article 3 2 and Article 54. (b) In the event that, after the deposit of trust funds or trust property pursuant to Section 8.1 or 8.5 in respect of a particular series of Notes7.6, the Issuer Baytex is required to make an offer to purchase any outstanding Notes of such series pursuant to the terms hereofDebt Securities, the Issuer Baytex shall be entitled to use any trust funds money or trust property deposited with the Indenture Trustee pursuant to Section 8.1 or 8.5 7.6 for the purpose of paying to any Holders holders of such Notes Debt Securities who have accepted any such offer of the total offer price payable in respect of an offer relating to any such Notesof Debt Securities. Upon receipt of an Issuer Ordera Written Direction from Baytex, the Indenture Trustee shall be entitled to pay to such Holder holder from such trust funds money or trust property deposited with the Indenture Trustee pursuant to Section 8.1 or 8.5 7.6 in respect of such Notes the Debt Securities which is applicable to the Notes Debt Securities held by such Holders holders who have accepted any such offer of the Issuer Baytex (which amount shall be based on the applicable principal amount of the Notes Debt Securities held by accepting offerees in relation to the aggregate outstanding principal amount of all the NotesDebt Securities).

Continuance of Rights, Duties and Obligations. (a) Where trust funds or trust property have been deposited pursuant to Section 8.1 or 8.58.6, the Holders holders of Debt Securities and the Issuer Trust shall continue to have and be subject to their respective rights, duties and obligations under Article 2, Article 3 Articles 2 and Article 5. (b) In the event that, after the deposit of trust funds or trust property pursuant to Section 8.1 or 8.5 in respect of a particular series of Notes8.6, the Issuer Trust is required to make an offer to purchase any outstanding Notes of such series pursuant to the terms hereofDebt Securities, the Issuer Trust shall be entitled to use any trust funds money or trust property deposited with the Indenture Trustee pursuant to Section 8.1 or 8.5 8.6 for the purpose of paying to any Holders holders of such Notes Debt Securities who have accepted any such offer of the total offer price payable in respect of an offer relating to any such Notesof Debt Securities. Upon receipt of an Issuer Ordera Written Direction from the Trust, the Indenture Trustee shall be entitled to pay to such Holder holder from such trust funds money or trust property deposited with the Indenture Trustee pursuant to Section 8.1 or 8.5 8.6 in respect of such Notes the Debt Securities which is applicable to the Notes Debt Securities held by such Holders holders who have accepted any such offer of the Issuer Trust (which amount shall be based on the applicable principal amount of the Notes Debt Securities held by accepting offerees in relation to the aggregate outstanding principal amount of all the NotesDebt Securities).

Continuance of Rights, Duties and Obligations. (a) Where trust funds or trust property have been deposited pursuant to Section 8.1 or 8.59.5, the Holders holders of Debentures and the Issuer Company shall continue to have and be subject to their respective rights, duties and obligations under Article 2, Article 3 4 and Article 56 and the provisions of Article 1 pertaining to the foregoing. (b) In the event that, after the deposit of trust funds or trust property pursuant to Section 8.1 or 8.5 in respect of a particular series of Notes9.5, the Issuer Company is required to make an Offer to Purchase any outstanding Debentures pursuant to Subsection 2.4(g) in relation to Initial Debentures or to make an offer to purchase any outstanding Notes of such series Debentures pursuant to the terms hereofany other similar provisions relating to any other series of Debentures, the Issuer Company shall be entitled to use any trust funds money or trust property deposited with the Debenture Trustee pursuant to Section 8.1 or 8.5 9.5 for the purpose of paying to any Holders holders of such Notes Defeased Debentures who have accepted any such offer of the Company the Offer Price payable to such holders in respect of such offer in respect of Initial Debentures (or the total offer price payable in respect of an offer relating to any such Notesother series of Debentures). Upon receipt of an Issuer Ordera Written Direction from the Company, the Debenture Trustee shall be entitled to pay to such Holder holder from such trust funds money or trust property deposited with the Debenture Trustee pursuant to Section 8.1 or 8.5 9.5 in respect of such Notes the Defeased Debentures the amount which is applicable to the Notes Defeased Debentures held by such Holders holders who have accepted any such offer of the Issuer (which amount shall be based on the applicable principal amount of the Notes Defeased Debentures held by accepting offerees in relation to the aggregate outstanding principal amount of all the NotesDefeased Debentures).

Continuance of Rights, Duties and Obligations. (a) Where trust funds or trust property have been deposited pursuant to Section 8.1 or 8.57.1, the Holders and the Issuer shall continue to have and be subject to their respective rights, duties and obligations under Article 2, Article 3 7 and Article 5. (b) 4. In the event that, that after the deposit of trust funds or trust property pursuant to Section 8.1 or 8.5 in respect of a particular series of Notes7.1, the Issuer is required to make an offer to purchase any outstanding Notes of such series pursuant to the terms hereof, the Issuer shall be entitled to use any trust funds or trust property deposited with the Trustee pursuant to Section 8.1 or 8.5 7.1 for the purpose of paying to any Holders of such Notes who have accepted any such offer of the total offer price payable in respect of an offer relating to any such Notes. Upon receipt of an Issuer Order, the Trustee shall be entitled to pay to such Holder from such trust funds or trust property deposited with the Trustee pursuant to Section 8.1 or 8.5 7.1 in respect of such Notes which is applicable to the Notes held by such Holders who have accepted any such offer of the Issuer (which amount shall be based on the applicable principal amount of the Notes held by accepting offerees in relation to the aggregate outstanding principal amount of all the Notes).