Common use of Extinction of Rights Clause in Contracts

Extinction of Rights. Any certificate or book-entry advice statements which immediately prior to the Effective Time represented one or more outstanding Company Shares that were acquired by the Purchaser pursuant to Section 3.1 which is not deposited with the Depositary in accordance with the provisions of Section 5.1(1) on or before the sixth (6th) anniversary of the Effective Date shall, on the sixth (6th) anniversary of the Effective Date, cease to represent a claim or interest of any kind or nature whatsoever, whether as a securityholder or otherwise and whether against the Company, the Purchaser, the Depositary or any other person. On such date, the consideration such former holder of Company Shares would otherwise have been entitled to receive pursuant to Section 3.1, together with any distributions or dividends such holder would otherwise have been entitled to receive pursuant to Section 5.2, shall be deemed to have been surrendered for no consideration to the Purchaser. Neither the Company nor the Purchaser will be liable to any person in respect of any cash or securities (including any cash or securities previously held by the Depositary in trust for any such former holder) which is forfeited to the Purchaser or delivered to any public official pursuant to any applicable abandoned property, escheat or similar law.

Appears in 4 contracts

Samples: Arrangement Agreement (Trulieve Cannabis Corp.), Arrangement Agreement (Harvest Health & Recreation Inc.), Arrangement Agreement

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Extinction of Rights. Any certificate or book-entry advice statements which immediately prior If any Former Company Shareholder fails to deliver to the Effective Time represented one Depositary the certificates, documents or more outstanding instruments required to be delivered to the Depositary under Section 4.1 or Section 4.2 in order for such Former Company Shares that were acquired by Shareholder to receive the Purchaser Consideration which such former holder is entitled to receive pursuant to Section 3.1 which is not deposited with the Depositary in accordance with the provisions of Section 5.1(1) 2.3, on or before the sixth (6th) anniversary of the Effective Date shall, on the sixth (6th) anniversary of the Effective Date, on the sixth anniversary of the Effective Date (i) such former holder will be deemed to have donated and forfeited to the Purchaser or its successor any Consideration held by the Depositary in trust for such former holder to which such former holder is entitled and (ii) any certificate representing Company Shares formerly held by such former holder will cease to represent a claim or interest of any kind or nature whatsoever, whether as a securityholder or otherwise whatsoever and whether against the Company, the Purchaser, the Depositary or any other person. On such date, the consideration such former holder of Company Shares would otherwise have been entitled to receive pursuant to Section 3.1, together with any distributions or dividends such holder would otherwise have been entitled to receive pursuant to Section 5.2, shall will be deemed to have been surrendered for no consideration to the PurchaserPurchaser and will be cancelled. Neither the Company nor the Purchaser Purchaser, or any of their respective successors, will be liable to any person in respect of any cash or securities Share Consideration (including any cash or securities consideration previously held by the Depositary in trust for any such former holder) which is forfeited to the Company or the Purchaser or delivered to any public official pursuant to any applicable abandoned property, escheat or similar law.

Appears in 1 contract

Samples: Arrangement Agreement (Thompson Creek Metals Co Inc.)

Extinction of Rights. Any certificate or book-entry advice statements which immediately prior (a) If any Former Company Shareholder fails to deliver to the Effective Time represented one Depositary the certificates, documents or more outstanding Company Shares that were acquired by the Purchaser pursuant instruments required to Section 3.1 which is not deposited with be delivered to the Depositary under Section 5.1 or Section 5.2 in accordance with order for such Former Company Shareholder to receive the provisions of Section 5.1(1) on or before the sixth (6th) anniversary of the Effective Date shall, on the sixth (6th) anniversary of the Effective Date, cease to represent a claim or interest of any kind or nature whatsoever, whether as a securityholder or otherwise and whether against the Company, the Purchaser, the Depositary or any other person. On such date, the consideration Consideration which such former holder of Company Shares would otherwise have been is entitled to receive pursuant to Section 3.1, together with on or before the sixth anniversary of the Effective Date, on the sixth anniversary of the Effective Date (i) such former holder will be deemed to have donated and forfeited to the Purchaser or its successor any distributions or dividends Consideration held by the Depositary in trust for such former holder would otherwise have been to which such former holder is entitled and (ii) any certificate representing Company Shares formerly held by such former holder will cease to receive pursuant to Section 5.2, shall represent a claim of any nature whatsoever and will be deemed to have been surrendered for no consideration to the PurchaserPurchaser and will be cancelled. Neither the Company nor the Purchaser Purchaser, or any of their respective successors, will be liable to any person in respect of any cash or securities Consideration (including any cash or securities consideration previously held by the Depositary in trust for any such former holder) which is forfeited to the Company or the Purchaser or delivered to any public official pursuant to any applicable abandoned property, escheat or similar law.

Appears in 1 contract

Samples: Arrangement Agreement (Us Concrete Inc)

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Extinction of Rights. Any certificate or book-entry advice statements which immediately prior to the Effective Time represented one or more outstanding Company Shares that were acquired by the Purchaser pursuant to Section 3.1 3.1(c) which is not deposited with the Depositary in accordance with the provisions of Section 5.1(16.1(a) on or before the sixth (6th) anniversary of the Effective Date shall, on the sixth (6th) anniversary of the Effective Date, cease to represent a claim or interest of any kind or nature whatsoever, whether as a securityholder or otherwise and whether against the Company, the Purchaser, Purchaser or the Depositary or any other person. On such date, the consideration Consideration such former holder of Company Purchaser Shares would otherwise have been entitled to receive pursuant to Section 3.1receive, together with any distributions or dividends such holder would otherwise have been entitled to receive pursuant to Section 5.26.2, shall be deemed to have been surrendered for no consideration to the Purchaser. Neither the Company nor the Purchaser will be liable to any person in respect of any cash or securities (including any cash or securities previously held by the Depositary in trust for any such former holder) which is forfeited to the Purchaser or delivered to any public official pursuant to any applicable abandoned property, escheat or similar law.

Appears in 1 contract

Samples: Arrangement Agreement (HEXO Corp.)

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