Common use of Conversion at the Option of the Holder Clause in Contracts

Conversion at the Option of the Holder. (a) Subject to applicable law and the terms and provisions hereof, each Holder will have the right, at its option, on each Series AP Conversion Date, to convert all, or any part of, the then outstanding Series AP Preferred Shares registered in the name of the Holder into Cumulative Redeemable First Preferred Shares, Series AO of the Corporation (the “Series AO Preferred Shares”) on the basis of one (1) Series AO Preferred Share for each Series AP Preferred Share converted. The Corporation shall provide written notice not less than thirty (30) and not more than sixty (60) days prior to the applicable Series AP Conversion Date to the Holders of the conversion privilege provided for herein (the “Conversion Privilege”). Such notice shall (i) set out the Series AP Conversion Date, and (ii) include instructions to such Holders as to the method by which such Conversion Privilege may be exercised, as described in Section 4.3. On the 30th day prior to each Series AP Conversion Date, the Corporation will send to the Holders written notice of the Floating Quarterly Dividend Rate applicable to the Series AP Preferred Shares for the next succeeding Quarterly Floating Rate Period and the Annual Fixed Dividend Rate applicable to the Series AO Preferred Shares for the next succeeding Subsequent Fixed Rate Period, in each case as determined by the Corporation.

Conversion at the Option of the Holder. (a) Subject to applicable law and the terms and provisions hereof, each Holder will have the right, at its option, on each Series AP AO Conversion Date, to convert all, or any part of, the then outstanding Series AP AO Preferred Shares registered in the name of the Holder into Cumulative Redeemable First Preferred Shares, Series AO AP of the Corporation (the “Series AO AP Preferred Shares”) on the basis of one (1) Series AO AP Preferred Share for each Series AP AO Preferred Share converted. The Corporation shall provide written notice not less than thirty (30) and not more than sixty (60) days prior to the applicable Series AP AO Conversion Date to the Holders of the conversion privilege provided for herein (the “Conversion Privilege”). Such notice shall (i) set out the Series AP AO Conversion Date, and (ii) include instructions to such Holders as to the method by which such Conversion Privilege may be exercised, as described in Section 4.3. On the 30th day prior to each Series AP AO Conversion Date, the Corporation will send to the Holders written notice of the Annual Fixed Dividend Rate applicable to the Series AO Preferred Shares for the next succeeding Subsequent Fixed Rate Period and the Floating Quarterly Dividend Rate applicable to the Series AP Preferred Shares for the next succeeding Quarterly Floating Rate Period and the Annual Fixed Dividend Rate applicable to the Series AO Preferred Shares for the next succeeding Subsequent Fixed Rate Period, in each case as determined by the Corporation.

Conversion at the Option of the Holder. (a) Subject to applicable law and the terms and provisions hereof, each Holder will have the right, at its option, on each Series AP AQ Conversion Date, to convert all, or any part of, the then outstanding Series AP AQ Preferred Shares registered in the name of the Holder into Cumulative Redeemable First Preferred Shares, Series AO AR of the Corporation (the “Series AO AR Preferred Shares”) on the basis of one (1) Series AO AR Preferred Share for each Series AP AQ Preferred Share converted. The Corporation shall provide written notice not less than thirty (30) and not more than sixty (60) days prior to the applicable Series AP AQ Conversion Date to the Holders of the conversion privilege provided for herein (the “Conversion Privilege”). Such notice shall (i) set out the Series AP AQ Conversion Date, and (ii) include instructions to such Holders as to the method by which such Conversion Privilege may be exercised, as described in Section 4.3. On the 30th day prior to each Series AP AQ Conversion Date, the Corporation will send to the Holders written notice of the Annual Fixed Dividend Rate applicable to the Series AQ Preferred Shares for the next succeeding Subsequent Fixed Rate Period and the Floating Quarterly Dividend Rate applicable to the Series AP AR Preferred Shares for the next succeeding Quarterly Floating Rate Period and the Annual Fixed Dividend Rate applicable to the Series AO Preferred Shares for the next succeeding Subsequent Fixed Rate Period, in each case as determined by the Corporation.

Conversion at the Option of the Holder. (a) Subject to applicable law and the terms and provisions hereof, each Holder will have the right, at its option, on each Series AP AM Conversion Date, to convert all, or any part of, the then outstanding Series AP AM Preferred Shares registered in the name of the Holder into Cumulative Redeemable First Preferred Shares, Series AO AN of the Corporation (the “Series AO AN Preferred Shares”) on the basis of one (1) Series AO AN Preferred Share for each Series AP AM Preferred Share converted. The Corporation shall provide written notice not less than thirty (30) and not more than sixty (60) days prior to the applicable Series AP AM Conversion Date to the Holders of the conversion privilege provided for herein (the “Conversion Privilege”). Such notice shall (i) set out the Series AP AM Conversion Date, and (ii) include instructions to such Holders as to the method by which such Conversion Privilege may be exercised, as described in Section 4.3. On the 30th day prior to each Series AP AM Conversion Date, the Corporation will send to the Holders written notice of the Annual Fixed Dividend Rate applicable to the Series AM Preferred Shares for the next succeeding Subsequent Fixed Rate Period and the Floating Quarterly Dividend Rate applicable to the Series AP AN Preferred Shares for the next succeeding Quarterly Floating Rate Period and the Annual Fixed Dividend Rate applicable to the Series AO Preferred Shares for the next succeeding Subsequent Fixed Rate Period, in each case as determined by the Corporation.

Conversion at the Option of the Holder. (a) Subject to applicable law and the terms and provisions hereof, each Holder will have the right, at its option, on each Series AP AN Conversion Date, to convert all, or any part of, the then outstanding Series AP AN Preferred Shares registered in the name of the Holder into Cumulative Redeemable First Preferred Shares, Series AO AM of the Corporation (the “Series AO AM Preferred Shares”) on the basis of one (1) Series AO AM Preferred Share for each Series AP AN Preferred Share converted. The Corporation shall provide written notice not less than thirty (30) and not more than sixty (60) days prior to the applicable Series AP AN Conversion Date to the Holders of the conversion privilege provided for herein (the “Conversion Privilege”). Such notice shall (i) set out the Series AP AN Conversion Date, and (ii) include instructions to such Holders as to the method by which such Conversion Privilege may be exercised, as described in Section 4.3. On the 30th day prior to each Series AP AN Conversion Date, the Corporation will send to the Holders written notice of the Floating Quarterly Dividend Rate applicable to the Series AP AN Preferred Shares for the next succeeding Quarterly Floating Rate Period and the Annual Fixed Dividend Rate applicable to the Series AO AM Preferred Shares for the next succeeding Subsequent Fixed Rate Period, in each case as determined by the Corporation.

Conversion at the Option of the Holder. (a) Subject to applicable law and the terms and provisions hereof, each Holder will have the right, at its option, on each Series AP AR Conversion Date, to convert all, or any part of, the then outstanding Series AP AR Preferred Shares registered in the name of the Holder into Cumulative Redeemable First Preferred Shares, Series AO AQ of the Corporation (the “Series AO AQ Preferred Shares”) on the basis of one (1) Series AO AQ Preferred Share for each Series AP AR Preferred Share converted. The Corporation shall provide written notice not less than thirty (30) and not more than sixty (60) days prior to the applicable Series AP AR Conversion Date to the Holders of the conversion privilege provided for herein (the “Conversion Privilege”). Such notice shall (i) set out the Series AP AR Conversion Date, and (ii) include instructions to such Holders as to the method by which such Conversion Privilege may be exercised, as described in Section 4.3. On the 30th day prior to each Series AP AR Conversion Date, the Corporation will send to the Holders written notice of the Floating Quarterly Dividend Rate applicable to the Series AP AR Preferred Shares for the next succeeding Quarterly Floating Rate Period and the Annual Fixed Dividend Rate applicable to the Series AO AQ Preferred Shares for the next succeeding Subsequent Fixed Rate Period, in each case as determined by the Corporation.