Common use of Deposit of Redemption Monies Clause in Contracts

Deposit of Redemption Monies. Upon Debentures being called for redemption, the Corporation shall deposit with the Trustee or any Paying Agent to the order of the Trustee, on or before 11:00 a.m. (Calgary time) on the Business Day immediately prior to the Redemption Date specified in the Redemption Notice, such sums of money as may be sufficient to pay the Redemption Price of the Debentures so called for redemption, plus accrued and unpaid interest thereon up to but excluding the Redemption Date, less any Taxes required by law to be deducted or withheld therefrom. The Corporation shall also deposit with the Trustee a sum of money sufficient to pay any charges or expenses which may be incurred by the Trustee in connection with such redemption. Every such deposit shall be irrevocable. From the sums so deposited, the Trustee shall pay or cause to be paid, to the Holders of such Debentures so called for redemption, upon surrender of such Debentures, the principal and interest (if any) to which they are respectively entitled on redemption. Payment of funds to the Trustee upon redemption of Debentures shall be made by electronic transfer or certified cheque or pursuant to such other arrangements for the provision of funds as may be agreed between the Corporation and the Trustee in order to effect such payment hereunder. Notwithstanding the foregoing, all payments in excess of $25,000,000 (or such other amount as determined from time to time by the Canadian Payments Association) shall be made by the use of the LVTS; and in the event that payment must be made to the Depository, the Corporation shall remit payment to the Trustee by LVTS. The Trustee shall have no obligation to disburse funds pursuant to this Section 3.9 unless it has received written confirmation satisfactory to it that the funds have been deposited with it in sufficient amount to pay in full all amounts due and payable on the applicable Redemption Date. The Trustee shall, if it accepts any funds received by it in the form of uncertified cheques, be entitled to delay the time for release of such funds until such uncertified cheques shall be determined to have cleared the financial institution upon which the same are drawn.

Deposit of Redemption Monies. Upon Redemption of Debentures being called shall be provided for redemption, by the Corporation shall deposit depositing with the Debenture Trustee or any Paying Agent paying agent to the order of the Debenture Trustee, on or before 11:00 a.m. 1:00 p.m. (Calgary timeTime) on the Business Day immediately prior to the Redemption Date specified in the Redemption Noticesuch notice, such sums of money money, as may be sufficient to pay the Redemption Price of the Debentures so called for redemption, plus plus, if accrued interest is not included in the Redemption Price, accrued and unpaid interest thereon up to but excluding the Redemption Date, less any Taxes provided the Corporation may elect to satisfy this requirement by providing the Debenture Trustee with one or more certified cheques or a wire transfer for such amounts required under this Section 4.5 post-dated to the Redemption Date or by law providing the Debenture trustee with such funds through electronic transfer of funds on the Business Day immediately prior to be deducted or withheld therefromthe Redemption Date. The Corporation shall also deposit with the Debenture Trustee a sum of money sufficient to pay any charges or expenses which may be incurred by the Debenture Trustee in connection with such redemption. Every such deposit shall be irrevocable. From the sums so deposited, the Debenture Trustee shall pay or cause to be paid, or issue or cause to be issued, to the Holders holders of such Debentures so called for redemption, upon surrender of such Debentures, the principal principal, premium (if any) and interest (if any) to which they are respectively entitled on redemption. Payment of funds to the Trustee upon redemption of Debentures shall be made by electronic transfer or certified cheque or pursuant to such other arrangements for the provision of funds as may be agreed between the Corporation and the Trustee in order to effect such payment hereunder. Notwithstanding the foregoing, all payments in excess of $25,000,000 (or such other amount as determined from time to time by the Canadian Payments Association) shall be made by the use of the LVTS; and in the event that payment must be made to the Depository, the Corporation shall remit payment to the Trustee by LVTS. The Trustee shall have no obligation to disburse funds pursuant to this Section 3.9 unless it has received written confirmation satisfactory to it that the funds have been deposited with it in sufficient amount to pay in full all amounts due and payable on the less applicable Redemption Date. The Trustee shallwithholding taxes, if it accepts any funds received by it in the form of uncertified cheques, be entitled to delay the time for release of such funds until such uncertified cheques shall be determined to have cleared the financial institution upon which the same are drawnany.

Deposit of Redemption Monies. Upon Debentures being called If the Company shall require a Noteholder, any of whose Notes are liable to be repaid under these Conditions or the Instrument, to deliver to the Company the certificate or certificates therefor and such Noteholder shall fail or refuse to deliver up the certificate or certificates therefor or to provide an indemnity in a form acceptable to the Directors on the date and at the place fixed for redemptionthe repayment thereof or if a Noteholder shall fail or refuse to accept payment of the redemption moneys payable in respect thereof, the Corporation moneys payable to such Noteholder may be set aside by the Company and paid into a separate bank account and held by the Company in trust for such Noteholder (on terms that if the failure or refusal which resulted in the payment being made into the bank account is remedied then payment of such moneys shall deposit with the Trustee or any Paying Agent be made to the order Noteholder on demand) and such setting aside and payment shall be deemed for all the purposes of these Conditions to be a payment to such Noteholder and the Trustee, on or before 11:00 a.m. Company shall (Calgary time) on the Business Day immediately prior without prejudice to the Redemption Date specified in the Redemption Notice, terms of such sums of money trust as may aforesaid) thereby be sufficient to pay the Redemption Price of the Debentures so called for redemption, plus accrued and unpaid interest thereon up to but excluding the Redemption Date, less any Taxes required by law to be deducted or withheld therefrom. The Corporation shall also deposit with the Trustee a sum of money sufficient to pay any charges or expenses which may be incurred by the Trustee discharged from all obligations in connection with such redemptionNotes. Every such If the Company shall place the moneys so set aside on deposit at a bank (being an authorised institution under the Banking Act 1987) the Company shall not thereby be irrevocable. From responsible for the sums so deposited, the Trustee shall pay or cause to be paid, to the Holders safe custody of such Debentures so called moneys or for redemption, upon surrender of interest thereon except such Debentures, the principal and interest (if any) to as the said moneys may earn whilst on deposit less any expenses incurred by the Company in connection therewith. Any such amount so paid or deposited which they are respectively entitled remains unclaimed after a period of six years in the case of interest, and 12 years in the case of principal from the date on redemption. Payment of funds which the relevant payment first became due shall revert to the Trustee upon redemption of Debentures shall be made by electronic transfer or certified cheque or pursuant to such other arrangements for the provision of funds as may be agreed between the Corporation Company and the Trustee relevant Noteholders shall cease to be entitled thereto, notwithstanding that, in order the intervening period, the obligation to effect such payment hereunder. Notwithstanding pay the foregoingsame may have been accounted for in the books, all payments in excess of $25,000,000 (or such accounts and other amount as determined from time to time by the Canadian Payments Association) shall be made by the use records of the LVTS; and in the event that payment must be made to the Depository, the Corporation shall remit payment to the Trustee by LVTS. The Trustee shall have no obligation to disburse funds pursuant to this Section 3.9 unless it has received written confirmation satisfactory to it that the funds have been deposited with it in sufficient amount to pay in full all amounts due and payable on the applicable Redemption Date. The Trustee shall, if it accepts any funds received by it in the form of uncertified cheques, be entitled to delay the time for release of such funds until such uncertified cheques shall be determined to have cleared the financial institution upon which the same are drawnCompany.

Deposit of Redemption Monies. Upon Redemption of Debentures being called shall be provided for redemption, by the Corporation shall deposit depositing with the Trustee or any Paying Agent paying agent to the order of the Trustee, on or before 11:00 a.m. (Calgary Vancouver time) on the Business Day immediately prior to preceding the Redemption Date specified in the Redemption Noticesuch notice, such sums of money money, as may be sufficient to pay the Redemption Price of the Debentures so called for redemption, plus accrued and unpaid interest thereon up to but excluding the Redemption Date, less any Taxes provided the Corporation may elect to satisfy this requirement by providing the Trustee with an electronic transfer of funds or a cheque postdated to the Redemption Date for such amounts required by law to be deducted or withheld therefromunder this Section 5.5. The Corporation shall also deposit with the Trustee a sum of money sufficient to pay any charges or expenses which may be incurred by the Trustee in connection with such redemption. Every such deposit shall be irrevocable. From the sums so deposited, the Trustee shall pay or cause to be paid, paid to the Holders holders of such Debentures so called for redemption, upon surrender of such Debentures, the principal principal, premium (if any) and interest (if any) to which they are respectively entitled on redemption. Payment , net of funds any tax required to the Trustee upon redemption of Debentures shall be made by electronic transfer or certified cheque or pursuant to such other arrangements for the provision of funds as may be agreed between the Corporation and the Trustee in order to effect such payment hereunder. Notwithstanding the foregoing, all payments in excess of $25,000,000 (or such other amount as determined from time to time by the Canadian Payments Association) shall be made by the use of the LVTS; and in the event that payment must be made to the Depository, the Corporation shall remit payment to the Trustee by LVTSdeducted. The Trustee shall have no obligation to disburse funds pursuant to this Section 3.9 5.5 unless it has received written confirmation satisfactory to it that the funds have been deposited with it in sufficient amount to pay in full all amounts due and payable on the applicable Redemption Date. The Trustee shall, if it accepts any funds are received by it in the form of uncertified cheques, be entitled to delay the time for release of such funds until such uncertified cheques shall be determined to have cleared the financial institution upon which the same are drawn. For the avoidance of doubt, if any funds are received by the Trustee in the form of uncertified cheques, the Corporation’s payment obligation under this Section 5.5 shall not be treated as satisfied until such uncertified cheques shall be determined to have cleared the financial institution upon which the same are drawn.

Deposit of Redemption Monies. Upon Redemption of Debentures being called shall be provided for redemption, by the Corporation shall deposit depositing with the Debenture Trustee or any Paying Agent paying agent to the order of the Debenture Trustee, on or before 11:00 a.m. 1:00 p.m. (Calgary timeTime) on the Business Day immediately prior to the Redemption Date specified in the Redemption Noticesuch notice, such sums of money as may be sufficient to pay the Redemption Price of the Debentures so called for redemption, plus plus, if accrued interest is not included, in the Redemption Price, accrued and unpaid interest thereon up to but excluding the Redemption Date provided the Corporation may elect to satisfy this requirement by providing the Debenture Trustee with one or more certified cheques or a wire transfer for such amounts required under this Section 4.5 or by providing the Debenture trustee with such funds through electronic transfer of funds on the Business Day immediately prior to the Redemption Date, less any Taxes required by law to be deducted or withheld therefrom. The Corporation shall also deposit with the Debenture Trustee a sum of money sufficient to pay any charges or expenses which may be incurred by the Debenture Trustee in connection with such redemption. Every such deposit shall be irrevocable. From the sums so deposited, the Debenture Trustee shall pay or cause to be paid, or issue or cause to be issued, to the Holders holders of such Debentures so called for redemption, upon surrender of such Debentures, the principal principal, premium (if any) and interest (if any) to which they are respectively entitled on redemption. Payment of funds to the Trustee upon redemption of Debentures shall be made by electronic transfer or certified cheque or pursuant to such other arrangements for the provision of funds as may be agreed between the Corporation and the Trustee in order to effect such payment hereunder. Notwithstanding the foregoing, all payments in excess of $25,000,000 (or such other amount as determined from time to time by the Canadian Payments Association) shall be made by the use of the LVTS; and in the event that payment must be made to the Depository, the Corporation shall remit payment to the Trustee by LVTS. The Trustee shall have no obligation to disburse funds pursuant to this Section 3.9 unless it has received written confirmation satisfactory to it that the funds have been deposited with it in sufficient amount to pay in full all amounts due and payable on the less applicable Redemption Date. The Trustee shallwithholding taxes, if it accepts any funds received by it in the form of uncertified cheques, be entitled to delay the time for release of such funds until such uncertified cheques shall be determined to have cleared the financial institution upon which the same are drawnany.

Deposit of Redemption Monies. Upon Debentures (a) Except as may otherwise be provided in any Supplemental Indenture or, in the case of the Series A Second Lien Notes, Article 3 or the Series B Second Lien Notes, Article 4, upon Notes being called for redemption, the Corporation Issuer shall deposit with the Trustee or any Paying Agent Trustee, for onward payment to the order of the TrusteeDepository, on or before 11:00 a.m. (Calgary Toronto time) on the Business Day immediately prior to the Redemption Date specified in the Redemption Notice, such sums of money as may be sufficient to pay the Redemption Price of the Debentures Notes so called for redemption, plus accrued and unpaid interest thereon up to but excluding the Redemption Date, less any Taxes required by law to be deducted or withheld therefrom. The Corporation Issuer shall also deposit with the Trustee a sum of money sufficient to pay any charges or expenses which may be incurred by the Trustee in connection with such redemption. Every such deposit shall be irrevocable. From the sums so deposited, the Trustee shall pay or cause to be paid, to the Depository on behalf of the Holders of such Debentures Notes so called for redemption, upon surrender of such DebenturesNotes, the principal principal, premium (if any) and interest (if any) to which they are respectively entitled on redemption. (b) Payment of funds to the Trustee upon redemption of Debentures Notes shall be made by electronic transfer or certified cheque or pursuant to such other arrangements for the provision of funds as may be agreed between the Corporation Issuer and the Trustee in order to effect such payment hereunder. Notwithstanding the foregoing, (i) all payments in excess of $25,000,000 U.S.$25,000,000 (or such other amount as determined from time to time by the Canadian Payments Association) shall be made by the use of the LVTS; and (ii) in the event that payment must be made to the Depository, the Corporation Issuer shall remit payment to the Trustee by LVTS. The Trustee shall have no obligation to disburse funds pursuant to this Section 3.9 6.7 unless it has received written confirmation satisfactory to it that the funds have been deposited with it in sufficient amount to pay in full all amounts due and payable on the applicable Redemption Date. The Trustee shall, if it accepts any funds received by it in the form of uncertified cheques, be entitled to delay the time for release of such funds until such uncertified cheques shall be determined to have cleared the financial institution upon which the same are drawn.until