Common use of Dividend Disbursing Agent Clause in Contracts

Dividend Disbursing Agent. 3.1 The Company hereby appoints Endeavor Trust as its Dividend Disbursing Agent to disburse to the holders of Shares any dividends that may from time to time be legally declared by the board of directors of the Company and Endeavor Trust hereby accepts such appointment upon the terms herein contained. 3.2 Endeavor Trust shall disburse such dividends upon receiving a certified copy of a resolution of the board of directors of the Company declaring such dividends and, at least one business day before each payable date, funds and/or securities in an amount sufficient for the payment of such dividends. The Company shall deliver sufficient funds to Endeavor Trust by electronic transfer or certified cheque or make such other arrangements for the provision of funds as may be agreeable between the parties. Notwithstanding the aforementioned, all payments in excess of $25 million in Canadian dollars (or such other amount as determined from time to time by the Canadian Payments Association) must be made by electronic transfer.

Dividend Disbursing Agent. 3.1 The Company hereby appoints Endeavor Trust National Securities as its Dividend Disbursing Agent to disburse to the holders of Shares any of the Company dividends that may from time to time be legally declared by the board of directors of the Company and Endeavor Trust National Securities hereby accepts such appointment upon the terms herein contained. 3.2 Endeavor Trust National Securities shall disburse such dividends upon receiving a certified copy of a resolution of the board of directors of the Company declaring such dividends and, at least one business day before each payable date, funds and/or securities in an amount sufficient for the payment of such dividends. The Company shall deliver sufficient funds to Endeavor Trust National Securities by electronic transfer or certified cheque or make such other arrangements for the provision of funds as may be agreeable between the parties. Notwithstanding the aforementioned, all payments in excess of $25 million in Canadian dollars (or such other amount as determined from time to time by the Canadian Payments Association) must be made by electronic transfer.

Dividend Disbursing Agent. 3.1 The Company hereby appoints Endeavor Trust as its Dividend Disbursing Agent to disburse to the holders of Shares any of the Company dividends that may from time to time be legally declared by the board of directors of the Company and Endeavor Trust hereby accepts such appointment upon the terms herein contained. 3.2 Endeavor Trust shall disburse such dividends upon receiving a certified copy of a resolution of the board of directors of the Company declaring such dividends and, at least one business day before each payable date, funds and/or securities in an amount sufficient for the payment of such dividends. The Company shall deliver sufficient funds to Endeavor Trust by electronic transfer or certified cheque or make such other arrangements for the provision of funds as may be agreeable between the parties. Notwithstanding the aforementioned, all payments in excess of $25 million in Canadian dollars (or such other amount as determined from time to time by the Canadian Payments Association) must be made by electronic transfer.