Common use of Failure to Retract Clause in Contracts

Failure to Retract. Upon the occurrence of an event referred to in paragraph (iv) of the definition of Insolvency Event, Canco hereby agrees with the Trustee and in favour of the Beneficiary promptly to forward or cause to be forwarded to the Trustee all relevant materials delivered by the Beneficiary to Canco or to the transfer agent of the Exchangeable Shares (including a copy of the retraction request delivered pursuant to Section 6(1) of the Share Provisions) in connection with such proposed redemption of the Retracted Shares.

Failure to Retract. Upon the occurrence of an event referred to in paragraph (iv) of the definition of Insolvency EventEvent as set out at Section 1.1 herein, Canco hereby agrees with the Trustee and in favour of the Beneficiary Beneficiaries promptly to forward or cause to be forwarded to the Trustee all relevant materials delivered by the a Beneficiary to Canco or to the transfer agent of the Exchangeable Shares (including a copy of the retraction request delivered pursuant to Section 6(1) of the Share Provisions) in connection with such proposed redemption of the Retracted Shares.