Investment of Escrowed Funds. (a) Until released in accordance with this Agreement, the Escrowed Funds shall be kept segregated in the records of the Subscription Receipt Agent and shall be deposited in one or more segregated interest-bearing bank accounts to be maintained by the Subscription Receipt Agent in the name of the Subscription Receipt Agent at one or more Schedule I Canadian chartered banks, including the banks set forth in Section 7.2(c) (each such bank, an “Approved Bank”). Interest will be credited by the fifth Business Day of the following month. (b) All amounts held by the Subscription Receipt Agent pursuant to this Agreement shall be held by the Subscription Receipt Agent for the benefit of the Subscription Receiptholders and the delivery of the Escrowed Proceeds to the Subscription Receipt Agent shall not give rise to a debtor-creditor or other similar relationship between the Subscription Receipt Agent and the Subscription Receiptholders. The amounts held by the Subscription Receipt Agent pursuant to this Agreement are the sole risk of the Subscription Receiptholders and, without limiting the generality of the foregoing, the Subscription Receipt Agent shall have no responsibility or liability for any diminution of the Escrowed Funds which may result from any deposit made with an Approved Bank pursuant to this Section 7.2, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposits liquidated or sold prior to maturity. The Company and the Lead Underwriter acknowledge and agree that the Subscription Receipt Agent acts prudently in depositing the Escrowed Proceeds at any Approved Bank, and that the Subscription Receipt Agent is not required to make any further inquiries in respect of any such bank. (c) The Approved Banks include the Bank of Montreal and The Toronto-Dominion Bank.
Appears in 1 contract
Samples: Subscription Receipt Agreement
Investment of Escrowed Funds. (a1) Until released in accordance with this Agreement, the Escrowed Funds shall be kept segregated in the records of the Subscription Receipt Agent and shall be deposited in one or more segregated interest-interest bearing bank accounts to be maintained by the Subscription Receipt Agent in the name of the Subscription Receipt Agent at one or more Schedule I Canadian chartered banks, including the banks set forth in Section 7.2(c6.2(5) hereof (each such bank, an “"Approved Bank”"). Interest will The Subscription Receipt Agent shall pay interest on the Escrowed Funds at an annual rate which is equal to the Earned Interest. Such payment obligation shall be credited by calculated daily and paid to the fifth account(s) within three Business Day Days of each month-end. The Subscription Receipt Agent may receive investment earnings in excess of or less than the following monthinterest payable pursuant to this section, such earning being for the Subscription Receipt Agent's benefit or at its risk, as applicable.
(b2) All amounts held by the Subscription Receipt Agent pursuant to this Agreement shall be held by the Subscription Receipt Agent for the benefit of the Subscription Receiptholders Receiptholders, the Agents and the Advisors and the delivery of the Escrowed Proceeds to the Subscription Receipt Agent shall not give rise to a debtor-debtor creditor or other similar relationship between the Subscription Receipt Agent and the Subscription Receiptholders, the Agents and the Advisors. The amounts held by the Subscription Receipt Agent pursuant to this Agreement are the sole risk of the Subscription Receiptholders Receiptholders, the Agents and the Advisors and, without limiting the generality of the foregoing, the Subscription Receipt Agent shall have no responsibility or liability for any diminution of the Escrowed Funds which may result from any deposit made with an Approved Bank pursuant to this Section 7.26.2, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposits deposit liquidated or sold prior to maturity. The Company Corporation and the Lead Underwriter Agent acknowledge and agree that the Subscription Receipt Agent acts prudently in depositing the Escrowed Proceeds Funds at any Approved Bank, and that the Subscription Receipt Agent is not required to make any further inquiries in respect of any such bank.
(c3) At any time and from time to time, the Corporation shall be entitled to direct the Subscription Receipt Agent by written notice (a) not to deposit any new amounts in any Approved Bank specified in the notice and/or (b) to withdraw all or any of the Escrowed Funds that may then be deposited with any Approved Bank specified in the notice and re-deposit such amount with one or more of such other Approved Banks as specified in the notice. With respect to any withdrawal notice, the Subscription Receipt Agent will endeavor to withdraw such amount specified in the notice as soon as reasonably practicable and the Corporation acknowledges and agrees that such specified amount remains at the sole risk of the Subscription Receiptholders prior to and after such withdrawal.
(4) For tax reporting purposes, all interest or other taxable income earned from the investment of the Escrowed Funds in any tax year shall: (a) to the extent such interest is distributed by the Subscription Receipt Agent to any person or entity pursuant to the terms of this Agreement during such tax year, be allocated to such person or entity, and; (b) otherwise be allocated to the Corporation in the taxation year that it was earned, notwithstanding that no such amount has been distributed. The Subscription Receiptholders, the Agents, the Advisors and Corporation agree to provide the Subscription Receipt Agent with their certified tax identification numbers and others forms, documents and information that the Subscription Receipt Agent may request in order to fulfill any tax reporting function.
(5) The Approved Banks include the following: ANZ Banking Group AA- Bank of America NA A+ Bank of Montreal and A+ The Bank of Nova Scotia A+ Bank of Scotland A+ Bank of Tokyo-Mitsubishi UFJ A BNP Paribas A+ Canadian Imperial Bank of Commerce A+ Citibank NA A+ HSBC Bank of Canada AA- National Australia Bank Limited AA- National Bank of Canada A Royal Bank of Canada AA- Societe Generale (Canada Branch) A The Toronto-Dominion Bank.Bank AA-
Appears in 1 contract
Samples: Subscription Receipt Agreement
Investment of Escrowed Funds. (a1) Until released in accordance with this Agreement, the Escrowed Funds shall be kept segregated in the records of the Subscription Receipt Agent and shall be deposited in one or more segregated interest-interest bearing bank accounts to be maintained by the Subscription Receipt Agent in the name of the Subscription Receipt Agent at one or more Schedule I Canadian chartered banks, including the banks set forth in Section 7.2(c6.2(4) hereof (each such bank, an “"Approved Bank”"). Interest will be credited by the fifth Business Day of the following month.
(b2) The Subscription Receipt Agent shall pay interest at an annual rate agreed to between the Subscription Receipt Agent and the Approved Bank.
(3) All amounts held by the Subscription Receipt Agent pursuant to this Agreement shall be held by the Subscription Receipt Agent for the benefit of the Subscription Receiptholders and the delivery of the Escrowed Proceeds to the Subscription Receipt Agent shall not give rise to a debtor-creditor or other similar relationship between the Subscription Receipt Agent and the Subscription Receiptholders. The amounts held by the Subscription Receipt Agent pursuant to this Agreement are the sole risk of the Subscription Receiptholders and, without limiting the generality of the foregoing, the Subscription Receipt Agent shall have no responsibility or liability for any diminution of the Escrowed Funds which may result from any deposit made with an Approved Bank pursuant to this Section 7.26.2, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposits liquidated or sold prior to maturity). The Company Corporation and the Lead Underwriter Underwriters acknowledge and agree that the Subscription Receipt Agent acts prudently in depositing the Escrowed Proceeds Funds at any Approved Bank, and that the Subscription Receipt Agent is not required to make any further inquiries in respect of any such bank. At any time and from time to time, the Corporation and the Underwriters, acting together, in accordance with this Agreement, shall be entitled to direct the Subscription Receipt Agent by Written Request of the Corporation countersigned by authorized signatories of the Underwriters to (a) not deposit any new amounts in any Approved Bank specified in the notice and/or (b) withdraw all or any of the Escrowed Funds that may then be deposited with any Approved Bank specified in the notice and re-deposit such amount with one or more of such other Approved Banks as specified in the notice. With respect to any withdrawal notice, the Subscription Receipt Agent will endeavor to withdraw such amount specified in the notice as soon as reasonably practicable and the Corporation and the Underwriters acknowledge and agree that such specified amount remains at the sole risk of the Subscription Receiptholders prior to and after such withdrawal.
(c4) The Approved Banks include the Bank of Montreal Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, and The the Toronto-Dominion Bank.
Appears in 1 contract
Samples: Subscription Receipt Agreement (Integra Resources Corp.)
Investment of Escrowed Funds.
(a1) Until released in accordance with this Agreement, the Escrowed Funds shall be kept segregated in the records of the Subscription Receipt Agent and shall be deposited in one or more segregated interest-interest bearing bank trust accounts to be maintained by the Subscription Receipt Agent in the name of the Subscription Receipt Agent at one or more Schedule I Canadian chartered banks, including the banks set forth in Section 7.2(c6.2(5) hereof (each such bank, an “"Approved Bank"). The Subscription Receipt Agent shall pay interest on the Escrowed Funds at an annual rate which is equal to 0.05% less than the target overnight interest rate announced from time to time by the Bank of Canada (the “Earned Interest”). Interest will Such payment obligation shall be credited by calculated daily and paid to the fifth account(s) within three Business Day Days of each month-end. The Subscription Receipt Agent shall not be liable to account to anyone for the following month.profit it may earn, if any, while holding the Escrowed Funds.
(b2) All amounts held by the Subscription Receipt Agent pursuant to this Agreement shall be held by the Subscription Receipt Agent for the benefit of the Subscription Receiptholders and the delivery of the Escrowed Proceeds Funds to the Subscription Receipt Agent shall not give rise to a debtor-creditor or other similar relationship between the Subscription Receipt Agent and the Subscription Receiptholders. The amounts held by the Subscription Receipt Agent pursuant to this Agreement are the sole risk of the Subscription Receiptholders and, without limiting the generality of the foregoing, the Subscription Receipt Agent shall have no responsibility or liability for any diminution of the Escrowed Funds which may result from any deposit made with an Approved Bank pursuant to this Section 7.26.2, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposits deposit liquidated or sold prior to maturity. The Company Corporation and the Co-Lead Underwriter Agents acknowledge and agree that the Subscription Receipt Agent acts prudently in depositing the Escrowed Proceeds Funds at any Approved Bank, and that the Subscription Receipt Agent is not required to make any further inquiries in respect of any such bank.
(c3) At any time and from time to time, the Corporation shall be entitled to direct the Subscription Receipt Agent by written notice (a) not to deposit any new amounts in any Approved Bank specified in the notice and/or (b) to withdraw all or any of the Escrowed Funds that may then be deposited with any Approved Bank specified in the notice and re-deposit such amount with one or more of such other Approved Banks as specified in the notice. With respect to any withdrawal notice, the Subscription Receipt Agent will endeavor to withdraw such amount specified in the notice as soon as reasonably practicable and the Corporation acknowledges and agrees that such specified amount remains at the sole risk of the Subscription Receiptholders prior to and after such withdrawal.
(4) For tax reporting purposes, all interest or other taxable income earned from the investment of the Escrowed Funds in any tax year shall (i) to the extent such interest is distributed by the Subscription Receipt Agent to any person or entity pursuant to the terms of this Agreement during such tax year, be allocated to such person or entity, and (ii) otherwise be allocated to the Corporation in the taxation year that it was earned, notwithstanding that no such amount has been distributed. The Subscription Receiptholders and Corporation agree to provide the Subscription Receipt Agent with their certified tax identification numbers and others forms, documents and information that the Subscription Receipt Agent may request in order to fulfill any tax reporting function.
(5) The Approved Banks include the following: ANZ Banking Group AA- Bank of America NA A+ Bank of Montreal and A+ The Bank of Nova Scotia A+ Bank of Scotland A+ Bank of Tokyo-Mitsubishi UFJ A BNP Paribas A+ Canadian Imperial Bank of Commerce A+ Citibank NA A+ HSBC Bank of Canada AA- National Australia Bank Limited AA- National Bank of Canada A Royal Bank of Canada AA- Societe Generale (Canada Branch) A The Toronto-Dominion Bank.Bank AA-
Appears in 1 contract
Samples: Subscription Receipt Agreement
Investment of Escrowed Funds. (a1) Until released in accordance with this Agreement, the Escrowed Funds shall be kept segregated in the records of the Subscription Receipt Agent and shall be deposited in one or more segregated interest-interest bearing bank accounts to be maintained by the Subscription Receipt Agent in the name of the Subscription Receipt Agent at one or more Schedule I Canadian chartered banks, including the banks set forth in Section 7.2(c6.2(3) hereof (each such bank, an “Approved Bank”). If deposited into an Approved Bank, the Escrowed Funds shall bear interest at an annual rate which is equal to 2.95% less than the prime rate of interest announced from time to time by The Bank of Canada on Canadian dollar loans made to its most credit worthy customers in Canada. Interest will be credited by the fifth Business Day of the following month.
(b2) All amounts held by the Subscription Receipt Agent pursuant to this Agreement shall be held by the Subscription Receipt Agent for the benefit of the Subscription Receiptholders and the delivery of the Escrowed Proceeds to the Subscription Receipt Agent shall not give rise to a debtor-creditor or other similar relationship between the Subscription Receipt Agent and the Subscription Receiptholders. The amounts held by the Subscription Receipt Agent pursuant to this Agreement are the sole risk of the Subscription Receiptholders and, without limiting the generality of the foregoing, the Subscription Receipt Agent shall have no responsibility or liability for any diminution of the Escrowed Funds which may result from any deposit made with an Approved Bank pursuant to this Section 7.26.2, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposits deposit liquidated or sold prior to maturity. The Company Corporation and the Lead Underwriter Agent acknowledge and agree that the Subscription Receipt Agent acts prudently in depositing the Escrowed Proceeds Funds at any Approved Bank, and that the Subscription Receipt Agent is not required to make any further inquiries in respect of any such bank.
(c3) The Approved Banks include the TD Canada Trust, Canadian Imperial Bank of Montreal Commerce and The Toronto-Dominion BankBank of Montreal.
Appears in 1 contract
Samples: Subscription Receipt Agreement
Investment of Escrowed Funds. (a) Until released in accordance with this Agreement, the Escrowed Funds shall be kept segregated in the records of the Subscription Receipt Agent shall hold, invest and shall be deposited in one or more segregated interest-bearing bank accounts to be maintained by reinvest the Subscription Receipt Agent in the name Canadian Escrowed Funds on behalf of the Subscription Receipt Agent at one or more Schedule I Canadian chartered banks, including the banks set forth in Section 7.2(c) (each such bank, an “Approved Bank”). Interest will be credited by the fifth Business Day of the following month.
(b) All amounts held by the Subscription Receipt Agent pursuant to this Agreement shall be held by the Subscription Receipt Agent for the benefit of the Subscription Receiptholders and the delivery Company in short-term interest bearing or discount debt obligations issued or guaranteed by the Government of Canada, as directed in writing by the Escrowed Proceeds Company. Such direction to the Subscription Receipt Agent shall not give rise be provided by the Company no later than 9:00 a.m. (Toronto time) on the day on which the investment is to a debtor-creditor or other similar relationship between the Subscription Receipt Agent and the Subscription Receiptholdersbe made. The amounts held Any direction received by the Subscription Receipt Agent pursuant after 9:00 a.m. or on a day which is not a Business Day, shall be deemed to this Agreement are have been given prior to 9:00 a.m. on the sole risk of next Business Day. If, at any time, the Canadian Escrowed Funds include cash that is not invested and the Company has not provided directions to the Subscription Receiptholders and, without limiting the generality of the foregoingReceipt Agent to invest such cash, the Subscription Receipt Agent shall have no responsibility deposit all such uninvested cash in an account, a term deposit or liability for any diminution guaranteed investment certificates of the Escrowed Funds which may result from any deposit made with an Approved Bank pursuant to this Section 7.2, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposits liquidated or sold prior to maturity. The Company and the Lead Underwriter acknowledge and agree that the Subscription Receipt Agent acts prudently or a Canadian chartered bank, having either no fixed term or no irrevocable term and which pays interest on the daily balance. The Subscription Receipt Agent shall have no liability with respect to any loss in depositing the Escrowed Proceeds at value of investments as permitted to be made hereunder. In making any Approved Bankpayment, and that the Subscription Receipt Agent shall not be liable for any loss sustained from early termination of an investment if such termination is not required to make any further inquiries in respect of any such banka payment hereunder.
(cb) Until released in accordance with this Agreement, the U.S. Escrow Agent shall hold the U.S. Escrowed Funds on behalf of the Receiptholders and the Company in an interest bearing checking account established at X.X. Xxxxxx Xxxxx Bank N.A., Toronto Branch. The Approved Banks include U.S. Escrow Agent shall have no liability with respect to any loss in value of investments as permitted to be made hereunder. In making any payment, the Bank U.S. Escrow Agent shall not be liable for any loss sustained from early termination of Montreal and The Toronto-Dominion Bankan investment if such termination is required to make a payment hereunder.
Appears in 1 contract
Samples: Subscription Receipt Agreement (Swisher Hygiene Inc.)
Investment of Escrowed Funds. (a) Until released in accordance with this Agreement, The Escrow Holder shall invest and reinvest the Escrowed Funds in a "First Union High Performance Money Market Account." The Escrow Holder shall be kept segregated in have the records right to liquidate any investments of Escrowed Funds to provide funds necessary to make required payments under this Agreement. The Escrowed Funds shall remain invested as provided herein until distributed and paid pursuant to the terms and conditions of this Escrow Agreement. The Escrow Holder will provide to both the Buyer and the Sellers' Representative the number and branch location of the Subscription Receipt Agent Account promptly after the Account is established, and, thereafter, a monthly report regarding the activity and shall be deposited in one or more segregated interest-bearing bank accounts to be maintained by the Subscription Receipt Agent in the name balances of the Subscription Receipt Agent at one or more Schedule I Canadian chartered banks, including Account and the banks set forth in Section 7.2(c) (each such bank, an “Approved Bank”). Interest will be credited by the fifth Business Day investment of the following monthEscrowed Funds.
(b) All amounts held by the Subscription Receipt Agent pursuant to this Agreement shall be held by the Subscription Receipt Agent for the benefit of the Subscription Receiptholders and the delivery of the Escrowed Proceeds to the Subscription Receipt Agent shall not give rise to a debtor-creditor or other similar relationship between the Subscription Receipt Agent and the Subscription Receiptholders. The amounts held by the Subscription Receipt Agent pursuant to this Agreement are the sole risk of the Subscription Receiptholders and, without limiting the generality of the foregoing, the Subscription Receipt Agent shall have no responsibility or liability for any diminution investments of the Escrowed Funds which may result from any deposit made with an Approved Bank pursuant to this Section 7.2shall be held by, including any losses resulting from a default by or registered in the Approved Bank name of, the Escrow Holder or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposits liquidated or sold prior to maturity. The Company and the Lead Underwriter acknowledge and agree that the Subscription Receipt Agent acts prudently in depositing the Escrowed Proceeds at any Approved Bank, and that the Subscription Receipt Agent is not required to make any further inquiries in respect of any such bankits nominee.
(c) The Approved Banks include Sellers shall be deemed to be the Bank owner of Montreal the Escrowed Funds for tax purposes in proportion to their respective contributions as set forth on Schedule A attached hereto. Escrow Interest for each taxable period shall be deemed to be earned by the Sellers. Each Seller represents that its social security number is as set forth on Schedule B attached hereto. All Escrow Interest earned under this Escrow Agreement shall be allocated and paid as provided herein and reported by the recipient to the Internal Revenue Service as having been so allocated and paid. The Toronto-Dominion BankEscrow Holder agrees to keep the social security number of each Seller confidential and shall not use such number for any purpose other than as provided in this Agreement. Neither the Buyer nor the Escrow Holder shall have any responsibility for the payment of taxes arising from or related to the Escrowed Funds.
(d) The Escrow Holder shall not be required to institute or defend any action involving any matters referred to herein or which affect it or its duties or liabilities hereunder, unless or until requested to do so by any party to this Escrow Agreement and then only upon receiving full indemnity, in a character reasonably satisfactory to the Escrow Holder, against any and all claims, liabilities and expenses, including the reasonable fees of its outside counsel, in relation thereto.
Appears in 1 contract
Investment of Escrowed Funds. (a) Until released in accordance with this Agreement, the Escrowed Funds shall be kept segregated in the records of the Subscription Receipt Agent and shall be deposited in one or more segregated interest-bearing bank trust accounts to be maintained by the Subscription Receipt Agent in the name of the Subscription Receipt Agent at one or more Schedule I Canadian chartered banks, including the banks set forth listed below in Section 7.2(cSubsection 6.2(c) (each such bank, an “"Approved Bank”"). Interest will be credited The Subscription Receipt Agent shall pay interest on the Escrowed Funds at an annual rate which is equal to 0.05% less than the target overnight interest rate announced from time to time by the fifth Bank of Canada ("Subscription Receipt Interest"). Such payment obligation shall be calculated daily and paid to the account(s) within three (3) Business Day Days of the following each month-end. The Subscription Receipt Agent shall not be liable to account to anyone for profit it may earn, if any, while holding Escrowed Funds.
(b) All amounts held by the Subscription Receipt Agent pursuant to this Agreement shall be held by the Subscription Receipt Agent for the benefit of the Subscription Receiptholders and the delivery of the Escrowed Proceeds Funds to the Subscription Receipt Agent shall not give rise to a debtor-creditor or other similar relationship between the Subscription Receipt Agent and the Subscription Receiptholders. The amounts held by the Subscription Receipt Agent pursuant to this Agreement are the sole risk of the Subscription Receiptholders and, without limiting the generality of the foregoing, the Subscription Receipt Agent shall have no responsibility or liability for any diminution of the Escrowed Funds which may result from any deposit made with an Approved Bank pursuant to this Section 7.26.2, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposits deposit liquidated or sold prior to maturity. The Company Corporation acknowledges and the Lead Underwriter acknowledge and agree agrees that the Subscription Receipt Agent acts prudently in depositing the Escrowed Proceeds at any Approved Bank, and that the Subscription Receipt Agent is not required to make any further inquiries in respect of any such bank. At any time and from time to time, the Corporation shall be entitled to direct the Subscription Receipt Agent by written notice (a) not to deposit any new amounts in any Approved Bank specified in the notice and/or (b) to withdraw all or any of the Escrowed Funds that may then be deposited with any Approved Bank specified in the notice and re-deposit such amount with one or more of such other Approved Banks as specified in the notice. With respect to any withdrawal notice, the Subscription Receipt Agent will endeavour to withdraw such amount specified in the notice as soon as reasonably practicable and the Corporation acknowledges and agrees that such specified amount remains at the sole risk of the Subscription Receiptholders prior to and after such withdrawal. For tax reporting purposes, all interest or other taxable income earned from the investment of the Escrowed Funds in any tax year shall (i) to the extent such interest is distributed by the Subscription Receipt Agent to any person or entity pursuant to the terms of this Agreement during such tax year, be allocated to such person or entity, and (ii) otherwise be allocated to the Corporation in the taxation year that it was earned, notwithstanding that no such amount has been distributed. The Subscription Receiptholders and Corporation agree to provide the Subscription Receipt Agent with their certified tax identification numbers and others forms, documents and information that the Subscription Receipt Agent may request in order to fulfill any tax reporting function.
(c) The Approved Banks include the following: Bank Relevant S&P Issuer Credit Rating (as at July 2, 2019) ANZ Banking Group AA- Bank of America NA A+ Bank of Montreal and A+ The Bank of Nova Scotia A+ Bank of Scotland A+ Bank of Tokyo-Mitsubishi UFJ A BNP Paribas A+ Canadian Imperial Bank of Commerce A+ Citibank NA A+ HSBC Bank of Canada AA- National Australia Bank Limited AA- National Bank of Canada A- Royal Bank of Canada AA- Societe Generale (Canada Branch) A The Toronto-Dominion Bank.Bank AA-
Appears in 1 contract
Samples: Subscription Receipt Agreement
Investment of Escrowed Funds. (a) Until released in accordance with this Agreement, the Escrowed Funds shall be kept segregated in the records of the Subscription Receipt Agent and shall be deposited in one or more segregated interest-bearing bank trust accounts to be maintained by the Subscription Receipt Agent in the name of the Subscription Receipt Agent at one or more Schedule I Canadian chartered banks, including the banks set forth listed below in Section 7.2(cSubsection 6.2(c) (each such bank, an “Approved Bank”). Interest will If deposited into an Approved Bank, the Escrowed Funds shall bear interest at an annual rate which is equal to such Approved Bank’s prime rate of interest for its most preferred customers less 2.25%. Such payment obligation shall be credited by calculated daily and paid to the fifth account(s) within three Business Day Days of each month-end. The Subscription Receipt Agent shall be entitled to retain for its own benefit, as partial compensation for its services hereunder, any amount of the following monthinterest earned on the Escrowed Funds that is not payable pursuant to this Section 6.2.
(b) All amounts held by the Subscription Receipt Agent pursuant to this Agreement shall be held by the Subscription Receipt Agent for the benefit of the Subscription Receiptholders and the delivery of the Escrowed Proceeds Funds to the Subscription Receipt Agent shall not give rise to a debtor-creditor or other similar relationship between the Subscription Receipt Agent and the Subscription Receiptholders. The amounts held by the Subscription Receipt Agent pursuant to this Agreement are the sole risk of the Subscription Receiptholders and, without limiting the generality of the foregoing, the Subscription Receipt Agent shall have no responsibility or liability for any diminution of the Escrowed Funds which may result from any deposit made with an Approved Bank pursuant to this Section 7.26.2, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposits deposit liquidated or sold prior to maturity. The Company Corporation acknowledges and the Lead Underwriter acknowledge and agree agrees that the Subscription Receipt Agent acts prudently in depositing the Escrowed Proceeds at any Approved Bank, and that the Subscription Receipt Agent is not required to make any further inquiries in respect of any such bank. At any time and from time to time, the Corporation shall be entitled to direct the Subscription Receipt Agent by written notice (a) not to deposit any new amounts in any Approved Bank specified in the notice and/or (b) to withdraw all or any of the Escrowed Funds that may then be deposited with any Approved Bank specified in the notice and re- deposit such amount with one or more of such other Approved Banks as specified in the notice. With respect to any withdrawal notice, the Subscription Receipt Agent will endeavor to withdraw such amount specified in the notice as soon as reasonably practicable and the Corporation acknowledges and agrees that such specified amount remains at the sole risk of the Subscription Receiptholders prior to and after such withdrawal.
(c) The Approved Banks include the following: ANZ Banking Group AA- Bank of America NA A+ Bank of Montreal and A+ The Bank of Nova Scotia A+ Bank of Scotland A Bank of Tokyo-Mitsubishi UFJ A BNP Paribas A Canadian Imperial Bank of Commerce A+ Citibank NA A+ HSBC Bank of Canada AA- National Australia Bank Limited AA- National Bank of Canada A Royal Bank of Canada AA- Societe Generale (Canada Branch) A The Toronto-Dominion Bank.Bank AA-
Appears in 1 contract
Samples: Subscription Receipt Agreement
Investment of Escrowed Funds. (a) Until released in accordance with this Agreement, the Escrowed Funds shall be kept segregated in the records of the Subscription Receipt Agent and shall be deposited in one or more segregated interest-bearing bank trust accounts to be maintained by the Subscription Receipt Agent in the name of the Subscription Receipt Agent at one or more Schedule I Canadian chartered banks, including the banks set forth listed in Section 7.2(cbelow in Subsection 6.2(c) (each such bank, an “Approved Bank”) (or in a Government of Canada short-term debt obligation or such other short-term investment-grade debt obligations that the Corporation and Receiptholder may open as directed by written notice signed by both parties). Interest will be credited If deposited into an Approved Bank, the Escrowed Funds shall bear interest at an annual rate which is equal to 0.05% less than the target overnight interest rate announced from time to time by the fifth Bank of Canada, and if deposited in a Government of Canada short-term debt obligation or such other short-term investment- grade debt obligation at the rate provided for in such debt obligation (in each case, the “Earned Interest”). Such payment obligation shall be calculated daily and paid to the account(s) within three (3) Business Day Days of the following each month-end.
(b) All amounts held by the Subscription Receipt Agent pursuant to this Agreement shall be held by the Subscription Receipt Agent for the benefit of the Subscription Receiptholders Receiptholder and the delivery of the Escrowed Proceeds Funds to the Subscription Receipt Agent shall not give rise to a debtor-creditor or other similar relationship between the Subscription Receipt Agent and the Subscription ReceiptholdersReceiptholder. The amounts held by the Subscription Receipt Agent pursuant to this Agreement are the sole risk of the Subscription Receiptholders Receiptholder and, without limiting the generality of the foregoing, the Subscription Receipt Agent shall have no responsibility or liability for any diminution of the Escrowed Funds which may result from any deposit made with an Approved Bank pursuant to this Section 7.26.2, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposits deposit liquidated or sold prior to maturity. The Company Corporation acknowledges and the Lead Underwriter acknowledge and agree agrees that the Subscription Receipt Agent acts prudently in depositing the Escrowed Proceeds at any Approved Bank, and that the Subscription Receipt Agent is not required to make any further inquiries in respect of any such bank.
. At any time and from time to time, the Receiptholder shall be entitled to direct the Subscription Receipt Agent by written notice (ca) The not to deposit any new amounts in any Approved Bank specified in the notice and/or (b) to withdraw all or any of the Escrowed Funds that may then be deposited with any Approved Bank specified in the notice and re- deposit such amount with one or more of such other Approved Banks include as specified in the Bank notice. With respect to any withdrawal notice, the Subscription Receipt Agent will endeavor to withdraw such amount specified in the notice as soon as reasonably practicable and the Receiptholder acknowledges and agrees that such specified amount remains at the sole risk of Montreal the Receiptholder prior to and The Toronto-Dominion Bank.after such withdrawal. For tax reporting purposes, all interest or other taxable income earned from the investment of the Escrow Funds in any tax year shall (i) to the extent such interest is distributed by the Subscription Receipt Agent to any person or entity pursuant to the terms of this Agreement during such tax year, be allocated to such person or entity, and
Appears in 1 contract
Samples: Subscription Receipt Agreement
Investment of Escrowed Funds. Pending disbursement of the Escrowed Funds, the FT Subscription Receipt Agent shall hold, invest and reinvest such amount as directed in writing by the Corporation. Such direction to the FT Subscription Receipt Agent shall be provided no later than 9:00 a.m. (aToronto time) Until released on the day on which the investment is to be made. Any direction received by the FT Subscription Receipt Agent after 9:00 a.m. or on a day which is not a Business Day, shall be deemed to have been given prior to 9:00 a.m. on the next succeeding Business Day. If at any time the Escrowed Funds includes an amount that is not invested and the Corporation has not provided directions to the FT Subscription Receipt Agent to invest such amount, such uninvested amount will be held in accordance with this Agreement, an interest bearing account until the FT Subscription Receipt Agent has been directed in writing to so invest. All earnings received from the investment of the Escrowed Funds shall be kept segregated in the records of the Subscription Receipt Agent credited to, and shall become a part of, the Escrowed Funds (and any bank charges and similar fees as well as losses, if any, on such investments shall be deposited in one or more segregated interest-bearing bank accounts debited to be maintained by the Subscription Receipt Agent in the name of the Subscription Receipt Agent at one or more Schedule I Canadian chartered banks, including the banks set forth in Section 7.2(c) (each such bank, an “Approved Bank”Escrowed Funds). Interest will be credited by the fifth Business Day of the following month.
(b) All amounts held by the Subscription Receipt Agent pursuant to this Agreement shall be held by the Subscription Receipt Agent for the benefit of the Subscription Receiptholders and the delivery of the Escrowed Proceeds to the Subscription Receipt Agent shall not give rise to a debtor-creditor or other similar relationship between the Subscription Receipt Agent and the Subscription Receiptholders. The amounts held by the Subscription Receipt Agent pursuant to this Agreement are the sole risk of the Subscription Receiptholders and, without limiting the generality of the foregoing, the FT Subscription Receipt Agent shall have no responsibility or liability for any diminution of the Escrowed Funds which may result from any deposit investment made with an Approved Bank pursuant to this Section 7.2Section, including any losses resulting from on any investment required to be liquidated prior to maturity in order to make a default payment required hereunder. All amounts held by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposits liquidated or sold prior to maturity. The Company and the Lead Underwriter acknowledge and agree that the FT Subscription Receipt Agent acts prudently in depositing pursuant to this Agreement shall be held by the Escrowed Proceeds at any Approved Bank, and that the FT Subscription Receipt Agent is for the benefit of the FT Subscription Receiptholders and the delivery of the Escrowed Funds to the FT Subscription Receipt Agent shall not required give rise to make any further inquiries in respect a debtor-creditor or other similar relationship between the FT Subscription Receipt Agent and the FT Subscription Receiptholders. The amounts held by the FT Subscription Receipt Agent pursuant to this Agreement are the sole risk of any such bankthe FT Subscription Receiptholders.
(c) The Approved Banks include the Bank of Montreal and The Toronto-Dominion Bank.
Appears in 1 contract
Samples: Ft Subscription Receipt Agreement
Investment of Escrowed Funds. (a) Until released in accordance with this Agreement, the Escrowed Funds shall be kept segregated in the records of the Subscription Receipt Agent and shall be deposited in one or more segregated interest-bearing bank trust accounts to be maintained by the Subscription Receipt Agent in the name of the Subscription Receipt Agent at one or more Schedule I Canadian chartered banks, including the banks set forth listed in Section 7.2(cbelow in Subsection 6.2(c) (each such bank, an “Approved Bank”). Interest will The Escrowed Funds shall bear interest at an annual rate which is equal to 2% less than the prime rate of interest announced from time to time by The Bank of Nova Scotia on Canadian dollar loans made to its most credit worthy customers in Canada. Such payment obligation shall be credited by calculated daily and paid to the fifth account(s) within three Business Day Days of each month-end. The Subscription Receipt Agent shall be entitled to retain for its own benefit, as partial compensation for its services hereunder, any amount of the following monthinterest earned on the Escrowed Funds that is not payable pursuant to this Section 6.2.
(b) All amounts held by the Subscription Receipt Agent pursuant to this Agreement shall be held by the Subscription Receipt Agent for the benefit of the Subscription Receiptholders and the delivery of the Escrowed Proceeds Funds to the Subscription Receipt Agent shall not give rise to a debtor-creditor or other similar relationship between the Subscription Receipt Agent and the Subscription Receiptholders. The amounts held by the Subscription Receipt Agent pursuant to this Agreement are the sole risk of the Subscription Receiptholders and, without limiting the generality of the foregoing, the Subscription Receipt Agent shall have no responsibility or liability for any diminution of the Escrowed Funds which may result from any deposit made with an Approved Bank pursuant to this Section 7.26.2, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposits deposit liquidated or sold prior to maturity. The Company Corporation acknowledges and the Lead Underwriter acknowledge and agree agrees that the Subscription Receipt Agent acts prudently in depositing the Escrowed Proceeds at any Approved Bank, and that the Subscription Receipt Agent is not required to make any further inquiries in respect of any such bank.
(c) The Approved Banks include the following: ANZ Banking Group AA- Bank of America NA A Bank of Montreal and A+ Bank of Scotland A The Bank of Nova Scotia A+ Canadian Imperial Bank of Commerce A+ Citibank NA A HSBC Bank of Canada AA- Royal Bank of Canada AA- Royal Bank of Scotland A- Societe Generale (Canada Branch) A The Toronto-Dominion Bank.Bank AA- National Australia Bank Limited AA-
Appears in 1 contract
Samples: Second Subscription Receipt Agreement (Renaissance Oil Corp.)
Investment of Escrowed Funds. (a) Until released Except as provided in accordance with this AgreementSection 3(d), all investments and reinvestments of the Escrowed Funds shall be kept segregated made exclusively in the records of the Subscription Receipt Agent Permitted Investments that are mutually selected by Buyer and shall be deposited in one or more segregated interest-bearing bank accounts to be maintained by the Subscription Receipt Agent in the name of the Subscription Receipt Agent at one or more Schedule I Canadian chartered banks, including the banks set forth in Section 7.2(c) (each such bank, an “Approved Bank”). Interest will be credited by the fifth Business Day of the following monthACGL.
(b) All amounts held From time to time, Buyer and ACGL shall designate an entity with the appropriate capacity to act as broker (the "BROKER") with respect to the securities that constitute the Escrowed Funds. Broker will perform such acts as requested by Buyer and ACGL which are customarily performed by securities brokers. The fees and expenses of Broker shall be borne one-half by ACGL and one-half by Buyer. If at any time or from time to time during the Subscription Receipt Agent term of this First Restatement, Buyer or ACGL determines that the Broker appointed pursuant to the first sentence of this Agreement Section 3(b) should terminate acting in such capacity, Buyer and ACGL agree to cooperate with each other to jointly select and appoint an entity which is capable of conducting the duties performed by Broker to replace Broker. Upon any such re- placement, all references to Broker in this First Restatement shall be held by the Subscription Receipt Agent for the benefit of the Subscription Receiptholders and the delivery of the Escrowed Proceeds deemed references to the Subscription Receipt Agent such entity. Broker shall not give rise to a debtor-creditor or other similar relationship between be deemed the Subscription Receipt Agent and the Subscription Receiptholders. The amounts held by the Subscription Receipt Agent pursuant to this Agreement are the sole risk beneficial holder of the Subscription Receiptholders and, without limiting the generality of the foregoing, the Subscription Receipt Agent shall have no responsibility or liability for any diminution of the Escrowed Funds securities which may be in its possession as a result from any deposit made with an Approved Bank of its activities pursuant to this Section 7.2, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposits liquidated or sold prior to maturity. The Company and the Lead Underwriter acknowledge and agree that the Subscription Receipt Agent acts prudently in depositing the Escrowed Proceeds at any Approved Bank3(b), and that the Subscription Receipt Agent is not required to make any further inquiries in respect of Broker shall hold any such banksecurities as agent and may only act with respect to such securities pursuant to the joint written instructions of Buyer and ACGL.
(c) The Approved Banks include Promptly after the Bank Escrow Agent receives written notice from the issuer thereof (or any representative of Montreal such issuer) that any security that is a component of the Escrowed Funds is to be redeemed or otherwise liquidated by such issuer, the Escrow Agent shall deliver written notice thereof to Buyer and The Toronto-Dominion BankACGL. Promptly after receipt of such notice, Buyer and ACGL shall deliver to the Escrow Agent joint written instructions as to whether the cash proceeds from any such redemption, liquidation or maturation are (i) to be delivered to Broker for the purpose of promptly reinvesting such proceeds or (ii) to be held in the Escrow Account in the form of cash (which cash may be invested pursuant to the provisions of Section 3(f)). In the case of clause (i), the Escrow Agent shall promptly deliver to Broker such proceeds in accordance with such written instructions, and promptly upon consummation of such reinvestment, Broker shall deliver to the Escrow Agent the security or securities that Buyer and ACGL have elected to so purchase. In the event that Buyer and ACGL do not provide the Escrow Agent with written instructions pursuant to the provisions of this Section 3(c), the proceeds from any such maturation, redemption or liquidation shall remain in the Escrow Account in the form of cash (which cash may be invested pursuant to the provisions of Section 3(f)).
(d) At any time that there is cash in the Escrow Account, the Escrow Agent is hereby directed to invest such cash promptly in the Citibank Money Market Deposit Account (the "CITIBANK MMDA")
Appears in 1 contract
Investment of Escrowed Funds. Upon receipt of written instructions given jointly by the Company and the Lead Agent (aon behalf of the Agents), the Subscription Receipt Agent shall invest the Escrowed Funds as agent and bailee on behalf of the Subscription Receiptholders in Permitted Investments as set out in such written instructions, and upon written instructions given jointly by the Company and the Lead Agent in their reasonable anticipation of the Escrow Release Conditions being satisfied, at a financial institution designated in such written instructions. If at any time the Escrowed Funds include cash that is not invested and the Company and the Lead Agent (on behalf of the Agents) Until released in accordance with this Agreementhave not provided directions to the Subscription Receipt Agent to invest such cash, the Escrowed Funds shall be kept segregated remain in the records of the Subscription Receipt Agent and shall be deposited in one or more segregated interestAgent’s non-interest bearing bank accounts to be maintained by trust account at Canadian Imperial Bank of Commerce. Any direction from the Subscription Receipt Agent in the name of the Subscription Receipt Agent at one or more Schedule I Canadian chartered banks, including the banks set forth in Section 7.2(c) (each such bank, an “Approved Bank”). Interest will be credited by the fifth Business Day of the following month.
(b) All amounts held by the Subscription Receipt Agent pursuant to this Agreement shall be held by the Subscription Receipt Agent for the benefit of the Subscription Receiptholders and the delivery of the Escrowed Proceeds Company to the Subscription Receipt Agent shall not give rise be in writing and shall be provided to a debtor-creditor or other similar relationship between the Subscription Receipt Agent and no later than 9:00 a.m. (Toronto time) on the Subscription Receiptholdersday on which the investment is to be made. The amounts held Any direction received by the Subscription Receipt Agent pursuant after 9:00 a.m. (Toronto time) or received on a non-Business Day shall be deemed to have been given on the next Business Day. In the event that the Subscription Receipt Agent does not receive a direction or only a partial direction contemplated by this Section, the Subscription Receipt Agent may hold cash balances constituting part or all of the Escrowed Funds and may, but need not, invest same in a segregated United States dollar account in the deposit department of a Canadian chartered bank, authorized to accept deposits under the laws of Canada or a province thereof; but the Canadian chartered bank shall not be liable to account for any profit to any parties to this Agreement are or to any other person or entity other than at a rate, if any, established from time to time by the sole risk Canadian chartered bank as applicable. All Earnings received from the investment of the Subscription Receiptholders andEscrowed Funds shall be credited to, without limiting the generality of the foregoingand shall become a part of, the Escrowed Funds (and any bank charges and similar fees as well as losses, if any, on such investments shall be debited to the Escrowed Funds). The Subscription Receipt Agent shall have no responsibility or liability for any diminution of the Escrowed Funds which may result results from any deposit Permitted Investments made with an Approved Bank pursuant to this Section 7.2Article, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposits investment required to be liquidated or sold prior to maturity. The Company and the Lead Underwriter acknowledge and agree that the Subscription Receipt Agent acts prudently maturity in depositing the Escrowed Proceeds at any Approved Bank, and that the Subscription Receipt Agent is not required order to make any further inquiries in respect of any such banka payment required hereunder.
(c) The Approved Banks include the Bank of Montreal and The Toronto-Dominion Bank.
Appears in 1 contract
Samples: Subscription Receipt Agreement
Investment of Escrowed Funds. (a1) Until released in accordance with the provisions of this Agreement, the Escrowed Funds shall be kept segregated in the records of the Subscription Receipt Agent and shall be deposited in one or more segregated interest-interest bearing bank accounts to be maintained by the Subscription Receipt Agent in the name of the Subscription Receipt Agent at one or more Schedule I Canadian chartered banks, including the banks set forth in Section 7.2(c6.2(3) hereof (each such bank, an “Approved Bank”). Interest will be credited by the fifth Business Day of the following month.
(b2) All amounts held by the Subscription Receipt Agent pursuant to this Agreement shall be held by the Subscription Receipt Agent for the benefit of the Subscription Receiptholders and the delivery of the Escrowed Proceeds to the Subscription Receipt Agent shall not give rise to a debtor-creditor or other similar relationship between the Subscription Receipt Agent and the Subscription Receiptholders. The amounts held by the Subscription Receipt Agent pursuant to this Agreement are the sole risk of the Subscription Receiptholders and, without limiting the generality of the foregoing, the Subscription Receipt Agent shall have no responsibility or liability for any diminution of the Escrowed Funds which may result from any deposit made with an Approved Bank pursuant to this Section 7.26.2, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposits deposit liquidated or sold prior to maturity. The Company Corporation and the Lead Underwriter Agent acknowledge and agree that the Subscription Receipt Agent acts prudently in depositing the Escrowed Proceeds Funds at any Approved Bank, and that the Subscription Receipt Agent is not required to make any further inquiries in respect of any such bank. At any time and from time to time, the Corporation and the Lead Agent, acting together, shall be entitled to direct the Subscription Receipt Agent by written notice to (a) not deposit any new amounts in any Approved Bank specified in the notice and/or (b) withdraw all or any of the Escrowed Funds that may then be deposited with any Approved Bank specified in the notice and re-deposit such amount with one or more of such other Approved Banks as specified in the notice. With respect to any withdrawal notice, the Subscription Receipt Agent will endeavor to withdraw such amount specified in the notice as soon as reasonably practicable and the Corporation and the Lead Agent acknowledge and agree that such specified amount remains at the sole risk of the Subscription Receiptholders prior to and after such withdrawal.
(c3) The Approved Banks include the TD Canada Trust and Bank of Montreal and The Toronto-Dominion BankMontreal.
Appears in 1 contract
Samples: Subscription Receipt Agreement
Investment of Escrowed Funds. (1) Pending release of the Escrowed Funds, the Escrow Agent shall hold, invest and reinvest the Escrowed Funds, together with Earned Interest thereon, if any, on behalf of the Company and the Receiptholders, as the case may be, in short-term obligations of, or guaranteed by, the Government of Canada or any province thereof, or with a Schedule 1 Canadian chartered bank, or any other investment approved by the Company and the Lead Agent, for and on behalf of the Agents, which investments may include:
(a) Until released in accordance with this Agreement, the Escrowed Funds shall be kept segregated in the records Government of the Subscription Receipt Agent and shall be deposited in one or more segregated interest-bearing bank accounts to be maintained by the Subscription Receipt Agent in the name of the Subscription Receipt Agent at one or more Schedule I Canadian chartered banks, including the banks set forth in Section 7.2(c) (each such bank, an “Approved Bank”). Interest will be credited by the fifth Business Day of the following month.Canada treasury bills; or
(b) All amounts held interest bearing accounts, guaranteed investment certificates or interest bearing term deposits; all as directed a joint written direction by the Subscription Receipt Agent pursuant to this Agreement shall be held by the Subscription Receipt Agent for the benefit of the Subscription Receiptholders and the delivery of the Escrowed Proceeds to the Subscription Receipt Agent shall not give rise to a debtor-creditor or other similar relationship between the Subscription Receipt Agent and the Subscription Receiptholders. The amounts held by the Subscription Receipt Agent pursuant to this Agreement are the sole risk of the Subscription Receiptholders and, without limiting the generality of the foregoing, the Subscription Receipt Agent shall have no responsibility or liability for any diminution of the Escrowed Funds which may result from any deposit made with an Approved Bank pursuant to this Section 7.2, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposits liquidated or sold prior to maturity. The Company and the Lead Underwriter acknowledge Agent, for and agree on behalf of the Agents, provided that the Subscription Receipt Agent acts prudently Escrowed Funds, together with Earned Interest thereon, if any, shall only be invested in depositing investments having a maturity date of 15 days or less, which maturity dates shall be selected to facilitate any payments expected to be made under this Agreement. If at any time the Escrowed Proceeds at any Approved Bank, and Funds include cash that the Subscription Receipt Agent is not required invested and the Company and the Lead Agent, for and on behalf of the Agents have not provided directions to make any further inquiries the Escrow Agent to invest such cash, the Escrow Agent shall deposit all such uninvested cash in respect a segregated account with a Canadian chartered bank listed in Schedule 1 of any the Bank Act (Canada), such bankaccount to earn a rate of interest then current on similar deposits.
(c2) The Approved Banks include In the Bank event that the Escrow Agent does not receive a written direction or only a partial written direction, the Escrow Agent may hold cash balances constituting part or all of Montreal the Escrow Funds and The Toronto-Dominion Bankmay, but need not, invest same in its deposit department, the deposit department of one of its Affiliates, or the deposit department of a Canadian chartered bank; but the Escrow Agent, its Affiliates or a Canadian chartered bank shall not be liable to account for any profit or diminishment to any parties to this Agreement or to any other person or entity other than at a rate, if any, established from time to time by the Escrow Agent, its Affiliates or a Canadian chartered bank. For the purpose of this Section, “Affiliate” means an “affiliate” within the meaning of the Business Corporations Act (Ontario).
Appears in 1 contract
Samples: Subscription Receipt Agreement (Scythian Biosciences Corp.)
Investment of Escrowed Funds. (a1) Until released in accordance with this Agreement, the Escrowed Funds shall be kept segregated in the records of the Subscription Receipt Agent and shall be deposited in one or more segregated interest-interest bearing bank accounts to be maintained by the Subscription Receipt Agent in the name of the Subscription Receipt Agent at one or more Schedule I Canadian chartered banks, including the banks set forth in Section 7.2(c6.2(4) hereof (each such bank, an “"Approved Bank”"). Interest will be credited by the fifth Business Day of the following month.
(b2) The Subscription Receipt Agent shall pay interest at an annual rate agreed to between the Subscription Receipt Agent and the Approved Bank.
(3) All amounts held by the Subscription Receipt Agent pursuant to this Agreement shall be held by the Subscription Receipt Agent for the benefit of the Subscription Receiptholders and the delivery of the Escrowed Proceeds to the Subscription Receipt Agent shall not give rise to a debtor-creditor or other similar relationship between the Subscription Receipt Agent and the Subscription Receiptholders. The amounts held by the Subscription Receipt Agent pursuant to this Agreement are the sole risk of the Subscription Receiptholders and, without limiting the generality of the foregoing, the Subscription Receipt Agent shall have no responsibility or liability for any diminution of the Escrowed Funds which may result from any deposit made with an Approved Bank pursuant to this Section 7.26.2, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposits liquidated or sold prior to maturity). The Company Corporation and the Lead Underwriter Underwriters acknowledge and agree that the Subscription Receipt Agent acts prudently in depositing the Escrowed Proceeds Funds at any Approved Bank, and that the Subscription Receipt Agent is not required to make any further inquiries in respect of any such bank. At any time and from time to time, the Corporation and the Underwriters, acting together, in accordance with this Agreement, shall be entitled to direct the Subscription Receipt Agent by Written Request of the Corporation countersigned by authorized signatories of the Underwriter to (a) not deposit any new amounts in any Approved Bank specified in the notice and/or (b) withdraw all or any of the Escrowed Funds that may then be deposited with any Approved Bank specified in the notice and re-deposit such amount with one or more of such other Approved Banks as specified in the notice. With respect to any withdrawal notice, the Subscription Receipt Agent will endeavor to withdraw such amount specified in the notice as soon as reasonably practicable and the Corporation and the Underwriters acknowledge and agree that such specified amount remains at the sole risk of the Subscription Receiptholders prior to and after such withdrawal.
(c4) The Approved Banks include the Bank of Montreal Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, and The the Toronto-Dominion Bank.
Appears in 1 contract
Samples: Subscription Receipt Agreement (Integra Resources Corp.)
Investment of Escrowed Funds. (a) Until released in accordance with this Agreement, the Escrowed Funds shall be kept segregated in the records of the Subscription Receipt Agent and shall be deposited in one or more segregated interest-bearing bank trust accounts to be maintained by the Subscription Receipt Agent in the name of the Subscription Receipt Agent at one or more Schedule I Canadian chartered banks, including the banks set forth listed in Section 7.2(cbelow in Subsection 6.2(c) (each such bank, an “Approved Bank”). Interest will be credited by ) or in a Government of Canada short-term debt obligation or such other short-term investment-grade debt obligations that the fifth Business Day Corporation may open, with the prior consent of the following monthLead Underwriter, acting reasonably, and as directed by written notice. The Escrowed Funds shall bear no interest. The Subscription Receipt Agent shall be entitled to retain for its own benefit, as partial compensation for its services hereunder, any amount on the interest earned on the Escrowed Funds that is not payable pursuant to this Section 6.2.
(b) All amounts held by the Subscription Receipt Agent pursuant to this Agreement shall be held by the Subscription Receipt Agent for the benefit of the Subscription Receiptholders and the delivery of the Escrowed Proceeds Funds to the Subscription Receipt Agent shall not give rise to a debtor-creditor or other similar relationship between the Subscription Receipt Agent and the Subscription Receiptholders. The amounts held by the Subscription Receipt Agent pursuant to this Agreement are the sole risk of the Subscription Receiptholders and, without limiting the generality of the foregoing, the Subscription Receipt Agent shall have no responsibility or liability for any diminution of the Escrowed Funds which may result from any deposit made with an Approved Bank pursuant to this Section 7.26.2, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposits deposit liquidated or sold prior to maturity. The Company Corporation acknowledges and the Lead Underwriter acknowledge and agree agrees that the Subscription Receipt Agent acts prudently in depositing the Escrowed Proceeds at any Approved Bank, and that the Subscription Receipt Agent is not required to make any further inquiries in respect of any such bank. At any time and from time to time, the Corporation shall be entitled to direct the Subscription Receipt Agent by written notice (a) not to deposit any new amounts in any Approved Bank specified in the notice and/or (b) to withdraw all or any of the Escrowed Funds that may then be deposited with any Approved Bank specified in the notice and re-deposit such amount with one or more of such other Approved Banks as specified in the notice. With respect to any withdrawal notice, the Subscription Receipt Agent will endeavor to withdraw such amount specified in the notice as soon as reasonably practicable and the Corporation acknowledges and agrees that such specified amount remains at the sole risk of the Subscription Receiptholders prior to and after such withdrawal.
(c) The Approved Banks include the following: ANZ Banking Group AA- Bank of America NA A Bank of Montreal and A+ Bank of Scotland A The Bank of Nova Scotia A+ Bank of Tokyo-Mitsubishi UFJ A+ Canadian Imperial Bank of Commerce A+ Citibank NA A HSBC Bank of Canada AA- National Australia Bank Limited AA- National Bank of Canada A Royal Bank of Canada AA- Societe Generale (Canada Branch) A The Toronto-Dominion Bank.Bank AA- BNP Paribas A+
Appears in 1 contract
Samples: Subscription Receipt Agreement (Merus Labs International Inc.)
Investment of Escrowed Funds. (a) Until released in accordance with this AgreementIndenture, the Initial Escrowed Funds shall be kept segregated in the records of the Subscription Receipt Agent and shall be deposited in one or more segregated interest-interest- bearing bank trust accounts to be maintained by the Subscription Receipt Agent in the name of the Subscription Receipt Agent at one or more Schedule I Canadian chartered banks, including the banks set forth bank(s) listed in Section 7.2(cbelow in Subsection 6.02(d) (each such bank, an “Approved Bank”). Interest will be credited ) or in a Government of Canada short-term debt obligation or such other short-term investment-grade debt obligations that the Company may open as directed by the fifth Business Day of the following monthwritten notice.
(b) If deposited into an Approved Bank, the Subscription Receipt Agent shall pay interest on the Escrowed Funds at an annual rate which is equal to 0.05% less than the target overnight interest rate announced from time to time by the Bank of Canada. Such payment obligation shall be calculated daily and paid to the account(s) within three Business Days of each month-end.
(c) All amounts held by the Subscription Receipt Agent pursuant to this Agreement Indenture shall be held by the Subscription Receipt Agent for the benefit of the applicable Subscription Receiptholders and the delivery of the Escrowed Proceeds Funds to the Subscription Receipt Agent shall not give rise to a debtor-debtor- creditor or other similar relationship between the Subscription Receipt Agent and the Subscription Receiptholders. The amounts held by the Subscription Receipt Agent pursuant to this Agreement Indenture are the sole risk of the Subscription Receiptholders and, without limiting the generality of the foregoing, the Subscription Receipt Agent shall have no responsibility or liability for any diminution of the Escrowed Funds which may result from any deposit made with an Approved Bank pursuant to this Section 7.26.02, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposits deposit liquidated or sold prior to maturity. The Company acknowledges and the Lead Underwriter acknowledge and agree agrees that the Subscription Receipt Agent acts prudently in depositing the Escrowed Proceeds Funds at any Approved Bank, and that the Subscription Receipt Agent is not required to make any further inquiries in respect of any such bank.
. At any time and from time to time, the Company and Clarus shall be entitled to direct the Subscription Receipt Agent by written notice (ca) The to change how the Escrowed Funds are held by the Subscription Receipt Agent, including, but not limited to, holding the Escrowed Funds in alternative investment vehicles, provided that (i) such alternative investment vehicles are provided by an Approved Banks include Bank and are not materially more risky than the form of investment originally utilized for the Escrowed Funds, as determined by the Company and Clarus, acting reasonably; (ii) the term of the alternative investment vehicles will not be longer than 30 consecutive days; and (iii) the Escrowed Funds may be withdrawn from the alternative investment vehicles such that the Escrowed Funds may be returned to the Subscription Receiptholders in accordance with the terms of this Indenture, (b) to not deposit any new amounts in any Approved Bank of Montreal and The Toronto-Dominion Bank.specified in the notice and/or
Appears in 1 contract
Samples: Subscription Receipt Indenture
Investment of Escrowed Funds. (a1) Until released in accordance with this Agreement, the Escrowed Funds shall be kept segregated in the records of the Subscription Receipt Agent and shall be deposited in one or more segregated interest-bearing bank trust accounts to be maintained by the Subscription Receipt Agent in the name of the Subscription Receipt Agent at one or more Schedule I Canadian chartered banks, including the banks set forth listed in Section 7.2(c) Schedule “D” to this Agreement (each such bank, an “Approved Bank”). Interest will be credited by the fifth Business Day of the following month.
(b2) The Escrowed Funds shall bear interest at an annual rate which is equal to the Bank of Canada target overnight rate minus 0.05%. Such payment obligation shall be calculated daily and paid to the account(s) within three Business Days of each month-end. The Subscription Receipt Agent may receive investment earnings in excess of or less than the interest payable pursuant to this Section 6.2(2), such earnings being for the Subscription Receipt Agent’s benefit or at its risk, as applicable.
(3) All amounts held by the Subscription Receipt Agent pursuant to this Agreement shall be held by the Subscription Receipt Agent for the benefit of the Subscription Receiptholders and the delivery of the Escrowed Proceeds to the Subscription Receipt Agent shall not give rise to a debtor-creditor or other similar relationship between the Subscription Receipt Agent and the Subscription Receiptholders. The amounts held by the Subscription Receipt Agent pursuant to this Agreement are the sole risk of the Subscription Receiptholders and, without limiting the generality of the foregoing, the Subscription Receipt Agent shall have no responsibility or liability for any diminution of the Escrowed Funds which may result from any deposit made with an Approved Bank pursuant to this Section 7.26.2, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposits deposit liquidated or sold prior to maturity. The Company Corporation acknowledges and the Lead Underwriter acknowledge and agree agrees that the Subscription Receipt Agent acts prudently in depositing the Escrowed Proceeds Funds at any Approved Bank, and that the Subscription Receipt Agent is not required to make any further inquiries in respect of any such bank.
(c) The Approved Banks include the Bank of Montreal and The Toronto-Dominion Bank.
Appears in 1 contract
Samples: Subscription Receipt Agreement (Fire & Flower Holdings Corp.)
Investment of Escrowed Funds. (a) Until released in accordance with this Agreement, the Escrowed Funds shall be kept segregated recorded in the segregated internal trust account records of the Subscription Receipt Agent Agent, which account record shall be designated in the name of the Company, and the Escrowed Funds shall be deposited in one or more segregated interest-bearing bank trust accounts to be maintained by the Subscription Receipt Agent in the name of the Subscription Receipt Agent at one or more Schedule I Canadian chartered banks, including the banks set forth listed in Section below in Subsection 7.2(c) (each such bank, an “Approved Bank”). Interest will Of the amount of interest, if any, earned by the Subscription Receipt Agent on such deposited monies, the Subscription Receipt Agent shall credit to the Escrowed Funds an amount that is equal to 0.20 percent less than the target overnight rate of interest announced from time to time by The Bank of Canada, converted to a daily rate, and applied to the Escrowed Funds, calculated daily (“Earned Interest”). Such calculated amount shall be credited by the fifth Subscription Receipt Agent to the Escrowed Funds within five (5) Business Day Days of each month-end. The Subscription Receipt Agent may retain the remaining amount of interest, if any, that was earned on such deposited monies for its own use and benefit. Notwithstanding the foregoing, (i) in no event will the Subscription Receipt Agent be obligated to pay or credit any amount on account of interest that exceeds the amount of interest earned from the Approved Bank(s) on the Escrowed Funds, as determined by the Subscription Receipt Agent; and (ii) if an account at any Approved Bank into which the Escrowed Funds or any part thereof has been deposited bears a negative interest rate or there is otherwise any fee or other charge assessed on the account or in respect of the following monthamount of cash on deposit, the cost, as determined by the Subscription Receipt Agent, shall be deducted from the Escrowed Funds.
(b) All amounts held by the Subscription Receipt Agent pursuant to this Agreement shall be held by the Subscription Receipt Agent for the benefit of the Subscription Receiptholders and the delivery of the Escrowed Proceeds to the Subscription Receipt Agent shall not give rise to a debtor-debtor- creditor or other similar relationship between the Subscription Receipt Agent and the Subscription Receiptholdersrelationship. The amounts held by the Subscription Receipt Agent pursuant to this Agreement are the sole risk of the Subscription Receiptholders and, without limiting the generality of the foregoing, the Subscription Receipt Agent shall have no responsibility or liability for any diminution of the Escrowed Funds which may result from any deposit made with an Approved Bank pursuant to this Section 7.2, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposits liquidated or sold prior to maturity. The Company and the Lead Underwriter Agent acknowledge and agree that the Subscription Receipt Agent acts prudently and reasonably in depositing the Escrowed Proceeds at any Approved Bank, and that the Subscription Receipt Agent is not required to make any further inquiries in respect of any such bank. At any time and from time to time, the Company shall be entitled to direct the Subscription Receipt Agent by written notice (a) not to deposit any new amounts in any Approved Bank specified in the notice and/or (b) to withdraw all or any of the Escrowed Funds that may then be deposited with any Approved Bank specified in the notice and re-deposit such amount with one or more of such other Approved Banks as specified in the notice. With respect to any withdrawal notice, the Subscription Receipt Agent will endeavor to withdraw such amount specified in the notice as soon as reasonably practicable and the Company acknowledges and agrees that such specified amount remains at the sole risk of the Subscription Receiptholders prior to and after such withdrawal. For tax reporting purposes, all interest or other taxable income earned from the investment of the Escrowed Funds in any tax year shall (i) to the extent such interest is distributed by the Subscription Receipt Agent to any person or entity pursuant to the terms of this Agreement during such tax year, be allocated to such person or entity, and (ii) otherwise be allocated to the Company in the taxation year that it was earned, notwithstanding that no such amount has been distributed. The Subscription Receiptholders and Company agree to provide the Subscription Receipt Agent with their certified tax identification numbers and others forms, documents and information that the Subscription Receipt Agent may request in order to fulfill any tax reporting function.
(c) The Approved Banks include the following: Bank Relevant S&P Issuer Credit Rating (as at March 1st, 2021) ANZ Banking Group AA- Bank of America NA A+ Bank of Montreal and A+ The Bank of Nova Scotia A+ Bank of Scotland A+ Bank of Tokyo-Mitsubishi UFJ A BNP Paribas A+ Canadian Imperial Bank of Commerce A+ Citibank NA A+ HSBC Bank of Canada A+ National Australia Bank Limited AA- National Bank of Canada A Royal Bank of Canada AA- Societe Generale (Canada Branch) A The Toronto-Dominion Bank.Bank AA-
Appears in 1 contract
Samples: Subscription Receipt Agreement
Investment of Escrowed Funds. (a1) Until released in accordance with this Agreement, the Escrowed Funds shall be kept segregated in the records of the Subscription Receipt Agent and shall be deposited in one or more segregated interest-interest bearing bank accounts to be maintained by the Subscription Receipt Agent in the name of the Subscription Receipt Agent at one or more Schedule I Canadian chartered banks, including the banks set forth listed in below in Section 7.2(c6.2(5) (each such bank, an “Approved Bank”). Interest will Of the amount of interest, if any, earned by the Subscription Receipt Agent on such deposited monies, the Subscription Receipt Agent shall credit to the Escrowed Funds an amount that is equal to 0.1 percent less than the target overnight rate of interest announced from time to time by The Bank of Canada, converted to a daily rate, and applied to the Escrowed Funds, calculated daily. Such calculated amount shall be credited by the fifth Subscription Receipt Agent to the Escrowed Funds within three (3) Business Day Days of each month-end. The Subscription Receipt Agent may retain the remaining amount of interest, if any, that was earned on such deposited monies for its own use and benefit. Notwithstanding the foregoing, (i) in no event will the Subscription Receipt Agent be obligated to pay or credit any amount on account of interest that exceeds the amount of interest earned from the Approved Bank(s) on the Escrowed Funds, as determined by the Subscription Receipt Agent; and (ii) if an account at any Approved Bank into which the Escrowed Funds or any part thereof has been deposited bears a negative interest rate or there is otherwise any fee or other charge assessed on the account or in respect of the following monthamount of cash on deposit, the cost, as determined by the Subscription Receipt Agent, shall be deducted from the Escrowed Funds.
(b2) All amounts held by the Subscription Receipt Agent pursuant to this Agreement shall be held by the Subscription Receipt Agent for the benefit of the Subscription Receiptholders and the delivery of the Escrowed Proceeds to the Subscription Receipt Agent shall not give rise to a debtor-creditor or other similar relationship between the Subscription Receipt Agent and the Subscription Receiptholders. The amounts held by the Subscription Receipt Agent pursuant to this Agreement are the sole risk of the Subscription Receiptholders and, without limiting the generality of the foregoing, neither the Subscription Receipt Agent nor the Agents shall have no any responsibility or liability for any diminution of the Escrowed Funds which may result from any deposit made with an Approved Bank pursuant to this Section 7.26.2, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposits deposit liquidated or sold prior to maturity. The Company Corporation and the Lead Underwriter Agents acknowledge and agree that the Subscription Receipt Agent acts prudently in depositing the Escrowed Proceeds Funds at any Approved Bank, and that the Subscription Receipt Agent is not required to make any further inquiries in respect of any such bank.
(c3) The At any time and from time to time, the Corporation shall be entitled to direct the Subscription Receipt Agent by written notice (a) not to deposit any new amounts in any Approved Bank specified in the notice and/or (b) to withdraw all or any of the Escrowed Funds that may then be deposited with any Approved Bank specified in the notice and re-deposit such amount with one or more of such other Approved Banks include as specified in the notice. With respect to any withdrawal notice, the Subscription Receipt Agent will endeavor to withdraw such amount specified in the notice as soon as reasonably practicable and the Corporation acknowledges and agrees that such specified amount remains at the sole risk of the Subscription Receiptholders prior to and after such withdrawal.
(4) For tax reporting purposes, all interest or other taxable income earned from the investment of the Escrowed Funds in any tax year shall (i) to the extent such interest is distributed by the Subscription Receipt Agent to any person or entity pursuant to the terms of this Agreement during such tax year, be allocated to such person or entity, and (ii) otherwise be allocated to the Corporation in the taxation year that it was distributed. The Subscription Receiptholders and Corporation agree to provide the Subscription Receipt Agent with their certified tax identification numbers and other forms, documents and information that the Subscription Receipt Agent may request in order to fulfill any tax reporting function.
(5) Approved Banks: Bank Relevant S&P Issuer Credit Rating (as at April 1st, 2021) ANZ Banking Group AA- Bank of America NA A+ Bank of Montreal and A+ The Bank of Nova Scotia A+ Bank of Scotland A+ Bank of Tokyo-Mitsubishi UFJ A BNP Paribas A+ Canadian Imperial Bank of Commerce A+ Citibank NA A+ HSBC Bank of Canada A+ National Australia Bank Limited AA- National Bank of Canada A Royal Bank of Canada AA- Societe Generale (Canada Branch) A The Toronto-Dominion Bank.Bank AA-
Appears in 1 contract
Samples: Subscription Receipt Agreement (WonderFi Technologies Inc.)
Investment of Escrowed Funds. (a) Until released in accordance with this Agreement, the Escrowed Funds shall be kept segregated in the records of the Subscription Receipt Agent and shall be deposited in one or more segregated interest-bearing bank trust accounts to be maintained by the Subscription Receipt Agent in the name of the Subscription Receipt Agent at one or more Schedule I Canadian chartered banks, including the banks set forth listed below in Section 7.2(c) (each Subsection 6.2(c)(each such bank, an “Approved Bank”) or in such Government of Canada short-term debt obligations or such other short-term investment-grade debt obligations that the Corporation may direct by written notice. If deposited with an Approved Bank, the Escrowed Funds shall bear interest at an annual rate which is equal to 2.25% less than the prime rate of interest announced from time to time by The Bank of Nova Scotia on Canadian dollar loans made to its most credit worthy customers in Canada (“Subscription Receipt Interest”). Interest will Such payment obligation shall be credited by calculated daily and paid to the fifth account(s) within three Business Day Days of the following each month-end.
(b) All amounts held by the Subscription Receipt Agent pursuant to this Agreement shall be held by the Subscription Receipt Agent for the benefit of the Subscription Receiptholders and the delivery of the Escrowed Proceeds Funds to the Subscription Receipt Agent shall not give rise to a debtor-creditor or other similar relationship between the Subscription Receipt Agent and the Subscription Receiptholders. The amounts held by the Subscription Receipt Agent pursuant to this Agreement are the sole risk of the Subscription Receiptholders and, without limiting the generality of the foregoing, the Subscription Receipt Agent shall have no responsibility or liability for any diminution of the Escrowed Funds which may result from any deposit made with an Approved Bank pursuant to this Section 7.26.2, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposits deposit liquidated or sold prior to maturity. The Company Corporation acknowledges and the Lead Underwriter acknowledge and agree agrees that the Subscription Receipt Agent acts prudently in depositing the Escrowed Proceeds at any Approved Bank, and that the Subscription Receipt Agent is not required to make any further inquiries in respect of any such bank.
. At any time and from time to time, the Corporation shall be entitled to direct the Subscription Receipt Agent by written notice (ca) The not to deposit any new amounts in any Approved Bank specified in the notice and/or (b) to withdraw all or any of the Escrowed Funds that may then be deposited with any Approved Bank specified in the notice and re- deposit such amount with one or more of such other Approved Banks include as specified in the Bank notice. With respect to any withdrawal notice, the Subscription Receipt Agent will endeavour to withdraw such amount specified in the notice as soon as reasonably practicable and the Corporation acknowledges and agrees that such specified amount remains at the sole risk of Montreal the Subscription Receiptholders prior to and The Toronto-Dominion Bank.after such withdrawal. For tax reporting purposes, all interest or other taxable income earned from the investment of the Escrow Funds in any tax year shall (i) to the extent such interest is distributed by the Subscription Receipt Agent to any person or entity pursuant to the terms of this Agreement during such tax year, be allocated to such person or entity, and
Appears in 1 contract
Samples: Subscription Receipt Agreement
Investment of Escrowed Funds. (a) Until released in accordance with this Agreement, the Escrowed Funds shall be kept segregated in the records of the Subscription Receipt Agent and shall be deposited in one or more segregated interest-bearing bank trust accounts, such accounts to be denominated in Canadian dollars, to be maintained by the Subscription Receipt Agent in the name of the Subscription Receipt Agent at one or more Schedule I Canadian chartered banks, including the banks set forth listed below in Section 7.2(cSubsection 6.2(c) (each such bank, an “Approved Bank”). Interest will If deposited into an Approved Bank, the Subscription Receipt Agent shall pay interest on the Escrowed Funds at an annual rate of 0.0001% (“Subscription Receipt Interest”). Such payment obligation shall be credited by calculated daily and paid to the fifth account(s) within three Business Day Days of the following each month-end.
(b) All amounts held by the Subscription Receipt Agent pursuant to this Agreement shall be held by the Subscription Receipt Agent for the benefit of the Subscription Receiptholders and the delivery of the Escrowed Proceeds Funds to the Subscription Receipt Agent shall not give rise to a debtor-creditor or other similar relationship between the Subscription Receipt Agent and the Subscription Receiptholders. The amounts held by the Subscription Receipt Agent pursuant to this Agreement are the sole risk of the Subscription Receiptholders and, without limiting the generality of the foregoing, the Subscription Receipt Agent shall have no responsibility or liability for any diminution of the Escrowed Funds which may result from any deposit made with an Approved Bank pursuant to this Section 7.26.2, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposits deposit liquidated or sold prior to maturity. The Company Corporation acknowledges and the Lead Underwriter acknowledge and agree agrees that the Subscription Receipt Agent acts prudently in depositing the Escrowed Proceeds at any Approved Bank, and that the Subscription Receipt Agent is not required to make any further inquiries in respect of any such bank. At any time and from time to time, the Corporation shall be entitled to direct the Subscription Receipt Agent by written notice (a) not to deposit any new amounts in any Approved Bank specified in the notice, and/or (b) to withdraw all or any of the Escrowed Funds that may then be deposited with any Approved Bank specified in the notice and re-deposit such amount with one or more of such other Approved Banks as specified in the notice. With respect to any withdrawal notice, the Subscription Receipt Agent will endeavor to withdraw such amount specified in the notice as soon as reasonably practicable and the Corporation acknowledges and agrees that such specified amount remains at the sole risk of the Subscription Receiptholders prior to and after such withdrawal. For tax reporting purposes, all interest or other taxable income earned from the investment of the Escrowed Funds in any tax year shall (i) to the extent such interest is distributed by the Subscription Receipt Agent to any person or entity pursuant to the terms of this Agreement during such tax year, be allocated to such person or entity, and (ii) otherwise be allocated to the Corporation in the taxation year that it was earned, notwithstanding that no such amount has been distributed. The Subscription Receiptholders and Corporation agree to provide the Subscription Receipt Agent with their certified tax identification numbers and other forms, documents and information that the Subscription Receipt Agent may request in order to fulfill any tax reporting function.
(c) The Approved Banks include the following: Bank Relevant S&P Issuer Credit Rating (as at February 3, 2020) ANZ Banking Group AA- Bank of America NA A+ Bank of Montreal and A+ The Bank of Nova Scotia A+ Bank of Scotland A+ Bank of Tokyo-Mitsubishi UFJ A BNP Paribas A+ Canadian Imperial Bank of Commerce A+ Citibank NA A+ HSBC Bank of Canada AA- National Australia Bank Limited AA- National Bank of Canada A Royal Bank of Canada AA- Societe Generale (Canada Branch) A The Toronto-Dominion Bank.Bank AA-
Appears in 1 contract
Samples: Subscription Receipt Agreement
Investment of Escrowed Funds. (a1) Until released in accordance with this Agreement, the Escrowed Funds in Canadian dollars shall be kept segregated in the records of the Subscription Receipt Agent and shall be deposited in one or more segregated interest-interest bearing bank accounts trust accounts, to be denominated in Canadian dollars, to be maintained by the Subscription Receipt Agent in the name of the Subscription Receipt Agent at one or more Schedule I Canadian chartered banks, including the banks set forth in Section 7.2(c6.2(6) hereof (each such bank, an “Approved Bank”). Interest will Of the amount of interest, if any, earned by the Subscription Receipt Agent on such deposited monies, the Subscription Receipt Agent shall credit to the Escrowed Funds an amount that is equal to 0.20% less than the target overnight rate of interest announced from time to time by The Bank of Canada, converted to a daily rate, and applied to the Escrowed Proceeds, calculated daily (“Earned Interest”). Such calculated amount shall be credited by the fifth Subscription Receipt Agent to the Escrowed Funds within three (3) Business Day Days of each month-end. The Subscription Receipt Agent may retain the remaining amount of interest, if any, that was earned on such deposited monies for its own use and benefit. Notwithstanding the foregoing, (i) in no event will the Subscription Receipt Agent be obligated to pay or credit any amount on account of interest that exceeds the amount of interest earned from the Approved Bank(s) on the Escrowed Funds, as determined by the Subscription Receipt Agent; and (ii) if an account at any Approved Bank into which the Escrowed Funds or any part thereof has been deposited bears a negative interest rate or there is otherwise any fee or other charge assessed on the account or in respect of the following monthamount of cash on deposit, the cost, as determined by the Subscription Receipt Agent, shall be deducted from the Escrowed Funds.
(b2) Until released in accordance with this Agreement, the Escrowed Funds in US dollars shall be kept segregated in the records of the Subscription Receipt Agent and shall be deposited in one or more segregated interest bearing trust accounts, such accounts to be denominated in US dollars, to be maintained by the Subscription Receipt Agent in the name of the Subscription Receipt Agent at one or more Approved Banks. Of the amount of interest, if any, earned by the Subscription Receipt Agent on such deposited monies, the Subscription Receipt Agent shall credit to the Escrowed Funds an amount that is equal to the average 90 day US TBill rate minus 0.50%. Such calculated amount shall be credited by the Subscription Receipt Agent to the Escrowed Funds within three (3) Business Days of each month-end. The Subscription Receipt Agent may retain the remaining amount of interest, if any, that was earned on such deposited monies for its own use and benefit. Notwithstanding the foregoing, (i) in no event will the Subscription Receipt Agent be obligated to pay or credit any amount on account of interest that exceeds the amount of interest earned from the Approved Bank(s) on the Escrowed Funds, as determined by the Subscription Receipt Agent; and (ii) if an account at any Approved Bank into which the Escrowed Funds or any part thereof has been deposited bears a negative interest rate or there is otherwise any fee or other charge assessed on the account or in respect of the amount of cash on deposit, the cost, as determined by the Subscription Receipt Agent, shall be deducted from the Escrowed Funds.
(3) All amounts held by the Subscription Receipt Agent pursuant to this Agreement shall be held by the Subscription Receipt Agent for the benefit of the Subscription Receiptholders and the delivery of the Escrowed Proceeds Funds to the Subscription Receipt Agent shall not give rise to a debtor-creditor or other similar relationship between the Subscription Receipt Agent and the Subscription Receiptholders. The amounts held by the Subscription Receipt Agent pursuant to this Agreement are the sole risk of the Subscription Receiptholders and, without limiting the generality of the foregoing, the Subscription Receipt Agent shall have no responsibility or liability for any diminution of the Escrowed Funds which may result from any deposit made with an Approved Bank pursuant to this Section 7.26.2, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposits deposit liquidated or sold prior to maturity. The Company Corporation and the Lead Underwriter acknowledge and agree that the Subscription Receipt Agent acts prudently in depositing the Escrowed Proceeds Funds at any Approved Bank, and that the Subscription Receipt Agent is not required to make any further inquiries in respect of any such bank.
(c4) At any time and from time to time, the Corporation shall be entitled to direct the Subscription Receipt Agent by written notice (a) not to deposit any new amounts in any Approved Bank specified in the notice and/or (b) to withdraw all or any of the Escrowed Funds that may then be deposited with any Approved Bank specified in the notice and re-deposit such amount with one or more of such other Approved Banks as specified in the notice. With respect to any withdrawal notice, the Subscription Receipt Agent will endeavor to withdraw such amount specified in the notice as soon as reasonably practicable and the Corporation acknowledges and agrees that such specified amount remains at the sole risk of the Subscription Receiptholders prior to and after such withdrawal.
(5) For tax reporting purposes, all interest or other taxable income earned from the investment of the Escrowed Funds in any tax year shall (i) to the extent such interest is distributed by the Subscription Receipt Agent to any person or entity pursuant to the terms of this Agreement during such tax year, be allocated to such person or entity, and (ii) otherwise be allocated to the Corporation in the taxation year that it was earned, notwithstanding that no such amount has been distributed. The Subscription Receiptholders and Corporation agree to provide the Subscription Receipt Agent with their certified tax identification numbers and others forms, documents and information that the Subscription Receipt Agent may request in order to fulfill any tax reporting function.
(6) The Approved Banks include the following: Bank of America NA A+ Bank of Montreal and A+ The Bank of Nova Scotia A+ Bank of Scotland A+ Bank of Tokyo-Mitsubishi UFJ A BNP Paribas A+ Canadian Imperial Bank of Commerce A+ Citibank NA A+ National Bank of Canada A Royal Bank of Canada AA- Societe Generale (Canada Branch) A The Toronto-Dominion Bank.Bank AA- Bank of America NA A+ Bank of Montreal A+ The Bank of Nova Scotia A+ Bank of Tokyo-Mitsubishi UFJ A BMO Xxxxxx Bank A+ BNP Paribas A+ Canadian Imperial Bank of Commerce A+ Santander UK Plc A Societe Generale A
Appears in 1 contract
Samples: Subscription Receipt Agreement (enCore Energy Corp.)
Investment of Escrowed Funds. (a) Until released in accordance with this Agreement, the Escrowed Funds shall be kept segregated recorded in the segregated internal trust account records of the Subscription Receipt Agent Agent, which account record shall be designated in the name of the Corporation, and the Escrowed Funds shall be deposited in one or more segregated interest-bearing bank trust accounts to be maintained by the Subscription Receipt Agent in the name of the Subscription Receipt Agent at one or more banks listed in Schedule I Canadian chartered banks, including the banks set forth in Section 7.2(c) “C” to this Agreement (each such bank, an “Approved Bank”). Interest will Of the amount of interest, if any, earned by the Subscription Receipt Agent on such deposited monies, the Subscription Receipt Agent shall credit to the Escrow Account an amount that is equal to 0.25 percent less than the target overnight rate of interest announced from time to time by the Bank of Canada, converted to a daily rate, and applied to the Escrowed Funds, calculated daily. Such calculated amount shall be credited by the fifth Subscription Receipt Agent to the Escrow Account within three (3) Business Day Days of each month-end. The Subscription Receipt Agent may retain the remaining amount of interest, if any, that was earned on such deposited monies for its own use and benefit. Notwithstanding the foregoing, (i) in no event will the Subscription Receipt Agent be obligated to pay or credit any amount on account of interest that exceeds the amount of interest earned from the Approved Bank(s) on the Escrowed Funds, as determined by the Subscription Receipt Agent; and (ii) if an account at any Approved Bank into which the Escrowed Funds or any part thereof has been deposited bears a negative interest rate or there is otherwise any fee or other charge assessed on the account or in respect of the following monthamount of cash on deposit, the cost, as determined by the Subscription Receipt Agent, shall be deducted from the Escrowed Funds.
(b) All amounts held by the Subscription Receipt Agent pursuant to this Agreement shall be held by the Subscription Receipt Agent for the benefit of the Subscription Receiptholders Corporation and the delivery of the Escrowed Proceeds Funds to the Subscription Receipt Agent shall not give rise to a debtor-creditor or other similar relationship between the Subscription Receipt Agent and the Subscription Receiptholdersrelationship. The amounts held by the Subscription Receipt Agent pursuant to this Agreement are at the sole risk of the Subscription Receiptholders Corporation and, without limiting the generality of the foregoing, the Subscription Receipt Agent shall have no responsibility or liability for any diminution of the Escrowed Funds which may result from any deposit made with an Approved Bank pursuant to this Section 7.25.1(a), including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposits deposit liquidated or sold prior to maturity. The Company and the Lead Underwriter parties hereto acknowledge and agree that the Subscription Receipt Agent acts will have acted prudently in depositing the Escrowed Proceeds Funds at any Approved Bank, and that the Subscription Receipt Agent is not required to make any further inquiries in respect of any such bank.
(c) The At any time and from time to time, the Corporation shall be entitled to direct the Subscription Receipt Agent by written notice (a) not to deposit any new amounts in any Approved Bank specified in the notice and/or (b) to withdraw all or any of the Escrowed Funds that may then be deposited with any Approved Bank specified in the notice and re-deposit such amount with one or more of such other Approved Banks include as specified in the Bank notice. With respect to any withdrawal notice, the Subscription Receipt Agent will endeavor to withdraw such amount specified in the notice as soon as reasonably practicable and the parties hereto acknowledge and agree that such specified amount remains at the sole risk of Montreal the Corporation prior to and after such withdrawal.
(d) For tax reporting purposes, all Earned Interest or other taxable income earned from the investment of the Escrowed Funds in any tax year shall (i) to the extent such interest is distributed by the Subscription Receipt Agent to any person or entity pursuant to the terms of this Agreement during such tax year, be allocated to the person or entity, or (ii) otherwise be allocated to the Corporation in the taxation year that it was earned, notwithstanding that no such amount has been distributed. The Toronto-Dominion BankReceiptholders, the Underwriters and the Corporation agree to provide the Subscription Receipt Agent with their certified tax identification numbers and others forms, documents and information that the Subscription Receipt Agent may request in order to fulfill any tax reporting function.
Appears in 1 contract
Samples: Subscription Receipt Agreement (Americas Gold & Silver Corp)
Investment of Escrowed Funds. (a) Until released in accordance with this Agreement, the Escrowed Funds shall be kept segregated in the records of the Subscription Receipt Agent and shall be deposited in one or more segregated interest-bearing bank trust accounts to be maintained by the Subscription Receipt Agent in the name of the Subscription Receipt Agent at one or more Schedule I Canadian chartered banks, including the banks set forth listed in Section 7.2(cbelow in Subsection 6.2(d) (each such bank, an “Approved Bank”). Interest will be credited by ) or in a Government of Canada short-term debt obligation or such other short-term investment-grade debt obligations that the fifth Business Day Corporation may open, with the prior consent of the following Lead Underwriters, on behalf of the Underwriters, acting reasonably, and as directed by written notice. If deposited into an Approved Bank, the Escrow Agent shall credit to the Escrowed Funds interest at an annual rate which is equal to 2.25 percent less than the prime rate of interest announced from time to time by The Bank of Nova Scotia on Canadian dollar loans made to its most credit worthy customers in Canada. Such payment obligation shall be calculated daily and paid to the account(s) within three (3) Business Days of each month-end.
(b) The Corporation acknowledges that, for the purposes of federal, provincial and other Taxes based on income, it will be the owner of the Earned Interest and that it will report all such Earned Interest, if any, that is earned on, or derived from, the Escrowed Funds as its income in the taxable year or years in which such income is properly includible and pay any Taxes attributable thereto.
(c) All amounts held by the Subscription Receipt Agent pursuant to this Agreement shall be held by the Subscription Receipt Agent for the benefit of the Subscription Receiptholders and the delivery of the Escrowed Proceeds Funds to the Subscription Receipt Agent shall not give rise to a debtor-creditor or other similar relationship between the Subscription Receipt Agent and the Subscription Receiptholders. The amounts held by the Subscription Receipt Agent pursuant to this Agreement are the sole risk of the Subscription Receiptholders and, without limiting the generality of the foregoing, the Subscription Receipt Agent shall have no responsibility or liability for any diminution of the Escrowed Funds which may result from any deposit made with an Approved Bank pursuant to this Section 7.26.2, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposits deposit liquidated or sold prior to maturity. The Company Corporation acknowledges and the Lead Underwriter acknowledge and agree agrees that the Subscription Receipt Agent acts prudently in depositing the Escrowed Proceeds Funds at any Approved Bank, and that the Subscription Receipt Agent is not required to make any further inquiries in respect of any such bank. At any time and from time to time, the Corporation shall be entitled to direct the Subscription Receipt Agent by written notice (a) not to deposit any new amounts in any Approved Bank specified in the notice and/or (b) to withdraw all or any of the Escrowed Funds that may then be deposited with any Approved Bank specified in the notice and re-deposit such amount with one or more of such other Approved Banks as specified in the notice. With respect to any withdrawal notice, the Subscription Receipt Agent will endeavor to withdraw such amount specified in the notice as soon as reasonably practicable and the Corporation acknowledges and agrees that such specified amount remains at the sole risk of the Subscription Receiptholders prior to and after such withdrawal.
(cd) The Approved Banks include the following: ANZ Banking Group AA- Bank of America NA A+ Bank of Montreal and A+ The Bank of Nova Scotia A+ Bank of Scotland A Bank of Tokyo-Mitsubishi UFJ A+ BNP Paribas A Canadian Imperial Bank of Commerce A+ Citibank NA A+ HSBC Bank of Canada AA- National Australia Bank Limited AA- National Bank of Canada A Royal Bank of Canada AA- Societe Generale (Canada Branch) A The Toronto-Dominion Bank.Bank AA-
Appears in 1 contract
Investment of Escrowed Funds. (a1) Until released in accordance with this Agreement, the Escrowed Funds shall be kept segregated in the records of the Subscription Receipt Agent and shall be deposited in one or more segregated interest-interest bearing bank accounts to be maintained by the Subscription Receipt Agent in the name of the Subscription Receipt Agent at one or more Schedule I Canadian chartered banks, including banks listed in Schedule 1 of the banks set forth in Section 7.2(cBank Act (Canada) (each such bank, an “Approved Bank”). Interest will When deposited into an Approved Bank, the Escrowed Funds shall bear interest at an annual rate of interest then current on similar deposits. Such payment obligation shall be credited by calculated daily and paid to the fifth account(s) within three Business Day Days of the following each month-end.
(b2) All amounts held by the Subscription Receipt Agent pursuant to this Agreement shall be held by the Subscription Receipt Agent for the benefit of the Subscription Receiptholders and the delivery of the Escrowed Proceeds to the Subscription Receipt Agent shall not give rise to a debtor-creditor or other similar relationship between the Subscription Receipt Agent and the Subscription Receiptholders. The amounts held by the Subscription Receipt Agent pursuant to this Agreement are the sole risk of the Subscription Receiptholders and, without limiting the generality of the foregoing, the Subscription Receipt Agent shall have no responsibility or liability for any diminution of the Escrowed Funds which may result from any deposit made with an Approved Bank pursuant to this Section 7.26.2, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposits deposit liquidated or sold prior to maturity. The Company Corporation acknowledges and the Lead Underwriter acknowledge and agree agrees that the Subscription Receipt Agent acts prudently in depositing the Escrowed Proceeds Funds at any Approved Bank, and that the Subscription Receipt Agent is not required to make any further inquiries in respect of any such bank.
(c3) The At any time and from time to time, the Corporation shall be entitled to direct the Subscription Receipt Agent by written notice (a) not to deposit any new amounts in any Approved Bank specified in the notice and/or (b) to withdraw all or any of the Escrowed Funds that may then be deposited with any Approved Bank specified in the notice and re-deposit such amount with one or more of such other Approved Banks include as specified in the Bank notice. With respect to any withdrawal notice, the Subscription Receipt Agent will endeavor to withdraw such amount specified in the notice as soon as reasonably practicable and the Corporation acknowledges and agrees that such specified amount remains at the sole risk of Montreal the Subscription Receiptholders prior to and after such withdrawal.
(4) For tax reporting purposes, all interest or other taxable income earned from the investment of the Escrow Funds in any tax year shall (i) to the extent such interest is distributed by the Subscription Receipt Agent to any person or entity pursuant to the terms of this Agreement during such tax year, be allocated to such person or entity, and (ii) otherwise be allocated to the Corporation in the taxation year that it was distributed. The Toronto-Dominion BankSubscription Receiptholders and Corporation agree to provide the Subscription Receipt Agent with their certified tax identification numbers and others forms, documents and information that the Subscription Receipt Agent may request in order to fulfill any tax reporting function.
Appears in 1 contract
Samples: Subscription Receipt Agreement
Investment of Escrowed Funds. (a) Until released in accordance with this Agreement, the Escrowed Funds shall be kept segregated in the records of the Subscription Receipt Agent and shall be deposited in one or more segregated interest-interest bearing bank trust accounts designated in the name of the Corporation to be maintained by the Subscription Receipt Agent in the name of the Subscription Receipt Agent at one or more Schedule I Canadian chartered banks, including the banks set forth in Section 7.2(c6.2(c) (each such bank, an “Approved Bank”). Interest will be credited The Subscription Receipt Agent shall pay interest on the Escrowed Funds at an annual rate which is equal to 0.10% less than the target overnight interest rate announced from time to time by the fifth Bank of Canada (the “Subscription Receipt Interest”). Such payment obligation shall be calculated daily and paid to the account(s) within three Business Day Days of each month-end. The Subscription Receipt Agent shall not be liable to account to anyone for the following monthprofit it may earn, if any, while holding the Escrowed Funds. Any bank charges and similar fees, if any, on such Escrowed Funds shall be debited to the Escrowed Funds account(s).
(b) All amounts held by the Subscription Receipt Agent pursuant to this Agreement shall be held by the Subscription Receipt Agent for the benefit of the Subscription Receiptholders and the delivery of the Escrowed Proceeds Funds to the Subscription Receipt Agent shall not give rise to a debtor-creditor or other similar relationship between the Subscription Receipt Agent and the Subscription Receiptholders. The amounts held by the Subscription Receipt Agent pursuant to this Agreement are the sole risk of the Subscription Receiptholders and, without limiting the generality of the foregoing, the Subscription Receipt Agent shall have no responsibility or liability for any diminution of the Escrowed Funds which may result from any deposit made with an Approved Bank pursuant to this Section 7.2, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposits liquidated or sold prior to maturity. The Company and the Lead Underwriter acknowledge and agree that the Subscription Receipt Agent acts prudently in depositing the Escrowed Proceeds at any Approved Bank, and that the Subscription Receipt Agent is not required to make any further inquiries in respect of any such bank.
(c) The Approved Banks include the Bank of Montreal and The Toronto-Dominion Bank.this
Appears in 1 contract
Samples: Subscription Receipt Agreement
Investment of Escrowed Funds. (a) Until released in accordance with this Agreement, the Escrowed Funds shall be kept segregated in the records of the Subscription Receipt Agent and shall be deposited in one or more segregated interest-bearing bank trust accounts to be maintained by the Subscription Receipt Agent in the name of the Subscription Receipt Agent at one or more Schedule I Canadian chartered banks, including the banks set forth listed in Section 7.2(cbelow in Subsection 6.2(c) (each such bank, an “"Approved Bank”)") or in a Government of Canada short-term debt obligation or such other short-term investment-grade debt obligations that the Corporation may open as directed by written notice. Interest will If deposited into an Approved Bank, the Escrowed Funds shall bear interest at an annual rate which is equal to ⚫% less than the prime rate of interest announced from time to time by The Bank of Montreal on Canadian dollar loans made to its most credit worthy customers in Canada. Such payment obligation shall be credited by calculated daily and paid to the fifth account(s) within three Business Day Days of each month-end. The Subscription Receipt Agent shall be entitled to retain for its own benefit, as partial compensation for its services hereunder, any amount of the following monthinterest earned on the Escrowed Funds that is not payable pursuant to this Section 6.2.
(b) All amounts held by the Subscription Receipt Agent pursuant to this Agreement shall be held by the Subscription Receipt Agent for the benefit of the Subscription Receiptholders and the delivery of the Escrowed Proceeds Funds to the Subscription Receipt Agent shall not give rise to a debtor-creditor or other similar relationship between the Subscription Receipt Agent and the Subscription Receiptholders. The amounts held by the Subscription Receipt Agent pursuant to this Agreement are the sole risk of the Subscription Receiptholders and, without limiting the generality of the foregoing, the Subscription Receipt Agent shall have no responsibility or liability for any diminution of the Escrowed Funds which may result from any deposit made with an Approved Bank pursuant to this Section 7.26.2, including any losses resulting from a default by the Approved Bank or other credit losses (whether or not resulting from such a default) and any credit or other losses on any deposits deposit liquidated or sold prior to maturity. The Company Corporation acknowledges and the Lead Underwriter acknowledge and agree agrees that the Subscription Receipt Agent acts prudently in depositing the Escrowed Proceeds at any Approved Bank, and that the Subscription Receipt Agent is not required to make any further inquiries in respect of any such bank. At any time and from time to time, the Corporation shall be entitled to direct the Subscription Receipt Agent by written notice (a) not to deposit any new amounts in any Approved Bank specified in the notice and/or (b) to withdraw all or any of the Escrowed Funds that may then be deposited with any Approved Bank specified in the notice and re- deposit such amount with one or more of such other Approved Banks as specified in the notice. With respect to any withdrawal notice, the Subscription Receipt Agent will endeavor to withdraw such amount specified in the notice as soon as reasonably practicable and the Corporation acknowledges and agrees that such specified amount remains at the sole risk of the Subscription Receiptholders prior to and after such withdrawal.
(c) The Approved Banks include the following: ANZ Banking Group AA- Bank of America NA A Bank of Montreal and A+ Bank of Scotland A The Bank of Nova Scotia A+ Bank of Tokyo-Mitsubishi UFJ A+ Canadian Imperial Bank of Commerce A+ Citibank NA A HSBC Bank of Canada AA- National Australia Bank Limited AA- National Bank of Canada A Royal Bank of Canada AA- Royal Bank of Scotland A- Societe Generale (Canada Branch) A The Toronto-Dominion Bank.Bank AA-
Appears in 1 contract
Samples: Subscription Receipt Agreement
