Common use of Deposit of Escrowed Proceeds in Escrow Clause in Contracts

Deposit of Escrowed Proceeds in Escrow. The Corporation shall direct: (a) the Lead Agent to deliver the Escrowed Proceeds in respect of the Brokered Offering; and (b) Gowling WLG (Canada) LLP to deliver the Escrowed Proceeds in respect of the Non-Brokered Offering, to the Subscription Receipt Agent on the Closing Date by way of certified cheque, bank draft or electronic wire transfer in immediately available funds, and upon receipt of such funds, the Subscription Receipt Agent shall deliver to the Corporation and the Agents a signed receipt acknowledging receipt of the Escrowed Proceeds. The Subscription Receipt Agent shall immediately place such funds in a segregated account in accordance with the provisions of this Article 6. The Corporation acknowledges and agrees that it is a condition of the payment by the holders of Subscription Receipts of the aggregate Offering Price that the Escrowed Funds are held by the Subscription Receipt Agent in accordance with the provisions of this Article 6. The Corporation further acknowledges and confirms that it has no interest in the Escrowed Funds unless and until the Escrow Release Notice is delivered to the Subscription Receipt Agent (at or before the Escrow Release Deadline). The Subscription Receipt Agent shall retain the Escrowed Funds for the benefit of the holders of the Subscription Receipts and, upon the delivery of the Escrow Release Notice to the Subscription Receipt Agent (at or before the Escrow Release Deadline), retroactively for the benefit of the Corporation and the Lead Agent (in the case of the Lead Agent and the Lead Advisor, in relation to the Non-Escrowed Agents' Commission, the Non- Escrowed Advisory Fee and the Escrowed Expenses) in accordance with the provisions of this Article 6.

Deposit of Escrowed Proceeds in Escrow. The Corporation Company shall direct: (a) direct that, immediately prior to the Lead Agent to deliver issuance of the Subscription Receipts, the Escrowed Proceeds in respect of the Brokered Offering; and (b) Gowling WLG (Canada) LLP to deliver the Escrowed Proceeds in respect of the Non-Brokered Offering, to shall be deposited with the Subscription Receipt Agent on the Closing Date by way of certified cheque, bank draft or electronic wire transfer in immediately available funds, and upon receipt of such fundsby the Lead Agent, the Subscription Receipt Agent shall deliver to the Corporation and the Agents Company, or a signed receipt acknowledging receipt of the Escrowed Proceedscombination thereof. The Subscription Receipt Agent shall immediately place such funds in a segregated account in accordance with the provisions of this Article 67. The Corporation Company acknowledges and agrees that it is a condition of the payment by the holders of Subscription Receipts of the aggregate Offering Price that the Escrowed Funds Proceeds are held by the Subscription Receipt Agent in accordance with the provisions of this Article 67. The Corporation Company further acknowledges and confirms that it has no interest in the Escrowed Funds or the Earned Interest unless and until the Escrow Release Notice is delivered to the Subscription Receipt Agent (at or before the Escrow Release Deadline). The Subscription Receipt Agent shall retain the Escrowed Funds and the Earned Interest for the benefit of the holders of the Subscription Receipts Receiptholders and, upon the delivery of the Escrow Release Notice to the Subscription Receipt Agent (at or before the Escrow Release Deadline), retroactively for the benefit of the Corporation Company and the Lead Agent Agents (in the case of the Lead Agent and the Lead Advisor, in relation to the Non-Escrowed unpaid Agents' Commission, the Non- Escrowed Advisory Fee and the Escrowed ’ Expenses) in accordance with the provisions of this Article 67.

Deposit of Escrowed Proceeds in Escrow. The Corporation shall direct: (a) direct that the Lead Agent to deliver the Escrowed Proceeds in respect of the Brokered Offering; and (b) Gowling WLG (Canada) LLP to deliver the Escrowed Proceeds in respect of the Non-Brokered Offering, to the Subscription Receipt Agent on the Closing Date by way of certified cheque, bank draft or electronic wire transfer in immediately available funds, and upon receipt of such funds, the Subscription Receipt Agent shall deliver to the Corporation and the Agents a signed receipt acknowledging receipt of the Escrowed Proceeds. The Subscription Receipt Agent shall immediately place such funds in a segregated account in accordance with the provisions of this Article 6. The Corporation acknowledges and agrees that it is a condition of the payment by the holders of Subscription Receipts of the aggregate Offering Price that the Escrowed Funds are held by the Subscription Receipt Agent in accordance with the provisions of this Article 6. The Corporation further acknowledges and confirms that it has no interest in the Escrowed Funds unless and until the Escrow Release Notice is delivered to the Subscription Receipt Agent (at on or before the Escrow Release Deadline). The Subscription Receipt Agent shall retain the Escrowed Funds for the benefit of the holders of the Subscription Receipts and, upon the delivery of the Escrow Release Notice to the Subscription Receipt Agent (at on or before the Escrow Release Deadline), retroactively for the benefit of the Corporation and the Lead Agent Agents (in the case of the Lead Agent and the Lead AdvisorAgents, in relation to the Non-Escrowed Agents' ’ Commission, the Non- Escrowed Advisory Fee and the Escrowed Expenses) in accordance with the provisions of this Article 6.

Deposit of Escrowed Proceeds in Escrow. The Corporation Company shall direct: (a) direct that, immediately prior to the Lead Agent to deliver issuance of the Subscription Receipts, the Escrowed Proceeds in respect of the Brokered Offering; and (b) Gowling WLG (Canada) LLP to deliver the Escrowed Proceeds in respect of the Non-Brokered Offeringshall be deposited, to the Subscription Receipt Agent on the Closing Date by way of certified cheque, bank draft or electronic wire transfer in immediately available funds, and upon receipt of such funds, with the Subscription Receipt Agent shall deliver to by way of electronic wire transfer, certified cheque or bank draft by the Corporation and the Agents a signed receipt acknowledging receipt of the Escrowed ProceedsLead Underwriter. The Subscription Receipt Agent shall immediately place such funds in a segregated account in accordance with the provisions of this Article 67. The Corporation Company acknowledges and agrees that it is a condition of the payment by the holders of Subscription Receipts of the aggregate Offering Price that the Escrowed Funds Proceeds are held by the Subscription Receipt Agent in accordance with the provisions of this Article 67. The Corporation Company further acknowledges and confirms that it has no interest in the Escrowed Funds unless and until the Escrow Release Notice is delivered to the Subscription Receipt Agent (at or before the Escrow Release Deadline). The Subscription Receipt Agent shall retain the Escrowed Funds for the benefit of the holders of the Subscription Receipts and, upon the delivery of the Escrow Release Notice Notice, to the Subscription Receipt Agent (at or before the Escrow Release Deadline), retroactively for the benefit of the Corporation Company and the Lead Agent Underwriters (in the case of the Lead Agent and the Lead Advisor, in relation to the Non-Escrowed Agents' Commission, Balance of the Non- Escrowed Advisory Fee Underwriters’ Commission and the Escrowed unpaid Underwriters’ Expenses) in accordance with the provisions of this Article 67.

Deposit of Escrowed Proceeds in Escrow. The Corporation shall direct: deliver (aor cause the delivery of) the Lead Agent to deliver the Escrowed Proceeds in respect of the Brokered Offering; and (b) Gowling WLG (Canada) LLP to deliver the Escrowed Proceeds in respect of the Non-Brokered Offering, to the Subscription Receipt Agent on the Closing Date by way of certified cheque, bank draft or electronic wire transfer in immediately available funds, and upon receipt of such funds, the Subscription Receipt Agent shall deliver to the Corporation and the Agents a signed receipt acknowledging receipt of the Escrowed Proceeds. The Subscription Receipt Agent shall immediately place such funds in a segregated account in accordance with the provisions of this Article 6. The Corporation acknowledges and agrees that it is a condition of the payment by the holders of Subscription Receipts of the aggregate Offering Price that the Escrowed Funds are held by the Subscription Receipt Agent in accordance with the provisions of this Article 6. The Corporation further acknowledges and confirms that it has no interest in the Escrowed Funds unless and until the Escrow Release Notice is delivered to the Subscription Receipt Agent (at or before the Escrow Release Deadline). The Subscription Receipt Agent shall retain the Escrowed Funds for the benefit of the holders of the Subscription Receipts and, upon the delivery of the Escrow Release Notice to the Subscription Receipt Agent (at or before the Escrow Release Deadline), retroactively for the benefit of the Corporation and the Lead Agent (in the case of the Lead Agent and the Lead Advisor, in relation to the Non-Escrowed Agents' Commission, the Non- Escrowed Advisory Fee and the Escrowed Expenses) in accordance with the provisions of this Article 6.