Common use of Exchangeable Shares Clause in Contracts

Exchangeable Shares. The Exchangeable shares to be issued by the Purchaser pursuant to this Agreement shall be subject to the following terms: (a) each Exchangeable Share may be exchanged at the request of its holder for one common share of PWIN, provided that in the event of a consolidation, split or other reorganization of the capital stock of the Purchaser or of PWIN, the number of PWIN common shares issuable for each one Exchangeable Share shall be adjusted accordingly; (b) Of the Exchangeable Shares received by a Lynx Shareholder on the Closing Date: (i) none may be exchanged during the period ending on and including the day of the first anniversary of the Closing Date; (ii) up to one-third (1/3) may be exchanged after said first anniversary; (iii) an additional one-third (1/3) may be exchanged after the second anniversary of the Closing Date; and (iv) all Exchangeable Shares may be exchanged after the third anniversary of the Closing Date.

Exchangeable Shares. The Exchangeable shares Shares to be issued by the Purchaser pursuant to this Agreement shall be subject to the following terms: (a) each Exchangeable Share may be exchanged at the request of its holder for one common share of PWIN, provided that in the event of a consolidation, split or other reorganization of the capital stock of the Purchaser or of PWIN, the number of PWIN common shares issuable for each one Exchangeable Share shall be adjusted accordingly; (b) Of the Exchangeable Shares received by a Lynx Shareholder on the Closing Date: (i) none may be exchanged during the period ending on and including the day of the first anniversary of the Closing Date; (ii) up to one-third (1/3) may be exchanged after said first anniversary; (iii) an additional one-third (1/3) may be exchanged after the second anniversary of the Closing Date; and (iv) all Exchangeable Shares may be exchanged after the third anniversary of the Closing Date.