Common use of Grant of Participation Right Clause in Contracts

Grant of Participation Right. (a) The Company agrees that, subject to Section 3.6 and provided that the Participating Percentage is at least 5%, the Investor (directly or through an Affiliate) has the right (the “Participation Right”) to subscribe for and to be issued as part of an Offering at the subscription price per Offered Security pursuant to the Offering and otherwise on substantially the terms and conditions of the Offering (provided that, if the Investor is prohibited by Canadian Securities Laws or other Applicable Laws or the rules of any stock exchange from participating on substantially the terms and conditions of the Offering, the Company shall use commercially reasonable efforts to enable the Investor to participate on terms and conditions that are as substantially similar as circumstances permit): (i) in the case of an Offering of Common Shares, up to such number of Common Shares that will allow the Investor (at its election and in its sole discretion) to maintain or acquire up to, as applicable, a percentage ownership interest in the Common Shares equal to the Participating Percentage; and (ii) in the case of an Offering of Offered Securities (other than Common Shares), up to such number of Offered Securities that will (after giving effect to the Offering and assuming, for all purposes of this Section 3.2(a)(ii), the conversion, exercise or exchange of all of the convertible, exercisable or exchangeable Offered Securities issued in connection with the Offering and issuable pursuant to this Section 3.2) allow the Investor (at its election and in its sole discretion) to maintain or acquire up to, as applicable, a percentage ownership interest in the Common Shares equal to the Participating Percentage. (b) If, upon the exercise by the Investor of its Participation Right, the Investor becomes entitled to a fractional interest in an Offered Security, any such fractional Offered Security that is: (i) less than 0.5 of an Offered Security will be rounded down to the nearest whole Offered Security, and (ii) 0.5, or greater, of an Offered Security will be rounded up to the nearest whole Offered Security unless the Investor holds less than 10% of the issued and outstanding Common Shares and such rounding would result, in and of itself, in the Investor holding 10% or more of the issued and outstanding Common Shares.

Grant of Participation Right. (a) The Company agrees that, subject to Section 3.6 and provided that 2.5 hereof, until the Participating Percentage is Investor (directly or through an Affiliate) ceases to own at least 5%[REDACTED]% of the Common Shares (calculated on a fully diluted basis), the Investor (directly or through an Affiliate) has the right (the “Participation Right”) ), to subscribe for and to be issued as part of an Offering at the subscription price per Offered Security pursuant to the Offering and otherwise on substantially the terms and conditions of the Offering (Offering, including that the purchase and sale of the Offered Securities pursuant to the Participation Right shall close on the same date as the completion of the Offering, unless otherwise agreed by the Parties, and provided that, if the Investor is prohibited by Canadian Securities Laws securities laws, Exchange rules or other Applicable Laws applicable laws or the rules of any stock exchange from participating on substantially the terms and conditions of the Offering, the Company shall use commercially reasonable efforts to enable the Investor to participate on terms and conditions that are as substantially similar as circumstances permit):: (ia) in the case of an Offering of Common Shares, up to such number of Common Shares that will allow the Investor (at and its election and in its sole discretion) Affiliates, on an aggregate basis, to maintain or acquire up to, as applicable, a the percentage ownership interest in the Common Shares equal held by the Investor and its Affiliates, on an aggregate basis, prior to the Participating PercentageOffering, after giving effect to such Offering assuming conversion, exercise or exchange of all of the convertible, exercisable or exchangeable securities of the Company held by the Investor and its Affiliates; and (iib) in the case of an Offering of Offered Securities (other than Common Shares), up to such number of Offered Securities that will (after giving effect to the Offering and assuming, for all purposes of this Section 3.2(a)(ii), the assuming conversion, exercise or exchange of all of the convertible, exercisable or exchangeable Offered Securities issued in connection with the Offering and issuable pursuant to this Section 3.22.2) allow the Investor (at and its election and in its sole discretion) Affiliates, on an aggregate basis, to maintain acquire, or acquire up tomaintain, as applicable, a percentage ownership interest in the Common Shares that is equal to the Participating Percentage. (b) If, upon percentage ownership interest in the exercise Common Shares held by the Investor prior to such Offering (assuming conversion, exercise or exchange of its Participation Right, the Investor becomes entitled to a fractional interest in an Offered Security, any such fractional Offered Security that is: (i) less than 0.5 of an Offered Security will be rounded down to the nearest whole Offered Security, and (ii) 0.5, or greater, of an Offered Security will be rounded up to the nearest whole Offered Security unless the Investor holds less than 10% all of the issued and outstanding Common Shares and such rounding would resultconvertible, in and of itself, in the Investor holding 10% exercisable or more exchangeable securities of the issued and outstanding Common SharesCompany).

Grant of Participation Right. (a) The Company Corporation agrees that, other than in respect of an issuance of Excluded Securities, subject to Section 3.6 3.7 and provided that the Participating Percentage is at least 5%receipt of all required regulatory approvals, the Investor (directly or through an Affiliate) has the right (the “Participation Right”) upon receipt of an Offering Notice, to subscribe for and to be issued as part of an Offering at the subscription price per Offered Security pursuant to the Offering Offering, payable in cash, and otherwise on substantially the terms and conditions of the Offering (provided that, if the Investor is prohibited by Canadian Securities Laws or other Applicable Laws or the rules of any stock exchange from participating on substantially the same terms and conditions of the Offering, the Company shall use commercially reasonable efforts to enable the Investor to participate on terms and conditions that are as substantially similar as circumstances permit):: (ia) in the case of an Offering of Common Shares, up to such number of Common Shares that will shall allow the Investor (at its election and in its sole discretion) to maintain or acquire up to, its Investor Pro Rata Interest (measured as applicable, a percentage ownership interest in of the Common Shares equal date immediately prior to the Participating Percentagecompletion of the Offering) upon completion of the Offering; and (iib) in the case of an Offering of Offered Securities (other than Common Shares), up to such number of Offered Securities that will shall (after giving effect to the Offering and assuming, for all purposes of this Section 3.2(a)(ii), the assuming conversion, exercise or exchange of all of the convertible, exercisable or exchangeable Offered Securities issued in connection with the Offering and issuable pursuant to this Section 3.23.3) allow the Investor (at its election and in its sole discretion) to maintain or acquire up toits Investor Pro Rata Interest (measured as of the date immediately prior to the completion of the Offering) upon completion of the Offering. If the consideration payable in connection with the Offering is not cash, as applicablethe deemed price per Common Share for such consideration shall be determined by the Board, a percentage ownership interest with reference to the relevant agreement(s) between the parties in respect of the Common Shares Offering, and the Investor shall have to pay cash only equal to the Participating Percentage. (b) If, upon such deemed price per Common Share in connection with the exercise by the Investor of its Participation Right, the Investor becomes entitled to a fractional interest in an Offered Security, any such fractional Offered Security that is: (i) less than 0.5 of an Offered Security will be rounded down to the nearest whole Offered Security, and (ii) 0.5, or greater, of an Offered Security will be rounded up to the nearest whole Offered Security unless the Investor holds less than 10% of the issued and outstanding Common Shares and such rounding would result, in and of itself, in the Investor holding 10% or more of the issued and outstanding Common Shares.

Grant of Participation Right. (a) The Company agrees that, subject to Section 3.6 and provided that 2.5 hereof, until the Participating Percentage is Investor (directly or through an Affiliate) ceases to own at least 5%10% of the Common Shares (calculated on a fully diluted basis), the Investor (directly or through an Affiliate) has the right (the “Participation Right”) ), to subscribe for and to be issued as part of an Offering at the subscription price per Offered Security pursuant to the Offering and otherwise on substantially the terms and conditions of the Offering (Offering, including that the purchase and sale of the Offered Securities pursuant to the Participation Right shall close on the same date as the completion of the Offering, unless otherwise agreed by the Parties, and provided that, if the Investor is prohibited by Canadian Securities Laws securities laws, Exchange rules or other Applicable Laws applicable laws or the rules of any stock exchange from participating on substantially the terms and conditions of the Offering, the Company shall use commercially reasonable efforts to enable the Investor to participate on terms and conditions that are as substantially similar as circumstances permit):: (ia) in the case of an Offering of Common Shares, up to such number of Common Shares that will allow the Investor (at and its election and in its sole discretion) Affiliates, on an aggregate basis, to maintain or acquire up to, as applicable, a the percentage ownership interest in the Common Shares equal held by the Investor and its Affiliates, on an aggregate basis, prior to the Participating PercentageOffering, after giving effect to such Offering assuming conversion, exercise or exchange of all of the convertible, exercisable or exchangeable securities of the Company held by the Investor and its Affiliates; and (iib) in the case of an Offering of Offered Securities (other than Common Shares), up to such number of Offered Securities that will (after giving effect to the Offering and assuming, for all purposes of this Section 3.2(a)(ii), the assuming conversion, exercise or exchange of all of the convertible, exercisable or exchangeable Offered Securities issued in connection with the Offering and issuable pursuant to this Section 3.22.2) allow the Investor (at and its election and in its sole discretion) Affiliates, on an aggregate basis, to maintain acquire, or acquire up tomaintain, as applicable, a percentage ownership interest in the Common Shares that is equal to the Participating Percentage. (b) If, upon percentage ownership interest in the exercise Common Shares held by the Investor prior to such Offering (assuming conversion, exercise or exchange of its Participation Right, the Investor becomes entitled to a fractional interest in an Offered Security, any such fractional Offered Security that is: (i) less than 0.5 of an Offered Security will be rounded down to the nearest whole Offered Security, and (ii) 0.5, or greater, of an Offered Security will be rounded up to the nearest whole Offered Security unless the Investor holds less than 10% all of the issued and outstanding Common Shares and such rounding would resultconvertible, in and of itself, in the Investor holding 10% exercisable or more exchangeable securities of the issued and outstanding Common SharesCompany).

Grant of Participation Right. (a) The Company agrees that, subject Provided that the Investor has a right to receive an Offering Notice pursuant to Section 3.6 and provided that the Participating Percentage is at least 5%3.1, the Investor (directly or through an Affiliate, in which case the provisions of this Article 3 shall apply mutatis mutandis) has shall have the right (the “"Participation Right”") to subscribe for and to be issued as part of an Offering of which the Investor has the right to receive an Offering Notice, at the subscription offering price per Offered Offering Security determined pursuant to the Offering Section 3.5(a), and otherwise on substantially the same terms and conditions of the Offering (provided that, if the Investor is prohibited by Canadian Securities Laws or other Applicable Laws or the rules of any stock exchange from participating on substantially the terms and conditions of as in the Offering, the Company shall use commercially reasonable efforts to enable the Investor to participate on terms and conditions that are as substantially similar as circumstances permit):: (ia) in the case of an Offering of Common Shares, up to such number of Common Shares that will allow the Investor (at its election and in its sole discretion) to maintain or acquire up toan Ownership Percentage, after giving effect to such Offering, that is the same as applicable, a percentage ownership interest in the Common Shares equal Ownership Percentage that it had immediately prior to the Participating Percentagecompletion of such Offering; and (iib) in the case of an Offering of Offered Offering Convertible Securities (other than or in addition to Common Shares), up to such number of Offered Offering Convertible Securities that will (after giving effect to the Offering and assuming, for all purposes of this Section 3.2(a)(ii3.2(b), the conversion, exercise or exchange of all of the convertible, exercisable or exchangeable Offered Offering Convertible Securities issued in connection with the Offering and issuable pursuant to this Section 3.2) allow the Investor (at its election and in its sole discretion) to maintain or acquire up to, as applicable, a percentage ownership interest in the Common Shares equal (calculated on a Fully-Diluted Basis), after giving effect to such Offering, that is the Participating Percentage. same as the percentage ownership interest that it had immediately prior to completion of such Offering (b) Ifcalculated on a Fully-Diluted Basis), upon the exercise in each case, for greater certainty, after giving effect to any Offering Securities to be acquired by the Investor as part of its the Offering, other than pursuant to the exercise of the Participation Right, the Investor becomes entitled to a fractional interest in an Offered Security, any such fractional Offered Security that is: (i) less than 0.5 of an Offered Security will be rounded down to the nearest whole Offered Security, and (ii) 0.5, or greater, of an Offered Security will be rounded up to the nearest whole Offered Security unless the Investor holds less than 10% of the issued and outstanding Common Shares and such rounding would result, in and of itself, in the Investor holding 10% or more of the issued and outstanding Common Shares.