Common use of Dividend Cheques Clause in Contracts

Dividend Cheques. A dividend payable in cash shall be paid by cheque drawn either on the bankers of the Corporation or those of its dividend disbursing agent to the order of each registered holder of shares of the class or series in respect of which it has been declared and mailed by prepaid ordinary mail to such registered holder at his Recorded Address or to such other address as the holder directs. In the case of joint holders the cheque shall, unless such joint holders otherwise direct, be made payable to the order of all such joint holders and mailed to them at their Recorded Address, or to the first address so appearing if there are more than one. The mailing of such cheque as aforesaid, unless the same is not paid on due presentation, shall satisfy and discharge the liability for the dividend to the extent of the sum represented thereby plus the amount of any tax which the Corporation is required to and does withhold.

Dividend Cheques. A dividend payable in cash shall be paid by cheque drawn either on the bankers of the Corporation or those of its any dividend disbursing paying agent appointed by the board, to the order of each registered holder of shares of the class or series in respect of which it has been declared and mailed by prepaid ordinary mail to such registered holder at his Recorded Address or recorded address, unless such holder otherwise directs and the Corporation agrees to follow such other address as the holder directsdirection. In the case of joint holders the cheque shall, unless such joint holders otherwise directdirect and the Corporation agrees to follow such direction, be made payable to the order of all of such joint holders and mailed to them at their Recorded Address, or to the first address so appearing if there are more than onerecorded address. The mailing of such cheque as aforesaid, unless the same is not paid on due presentation, shall satisfy and discharge the liability for the dividend to the extent of the sum represented thereby plus the amount of any tax which the Corporation is required to and does withhold.