Common use of Limitation and Proscription Clause in Contracts

Limitation and Proscription. To the extent that a Former Shareholder shall not have complied with the provisions of Section 4.1 or Section 4.2 on or before the date that is six (6) years after the Effective Date (the “final proscription date”), then the Consideration that such Former Shareholder was entitled to receive shall be automatically cancelled without any repayment of capital in respect thereof and the Consideration to which such Former Shareholder was entitled, shall be delivered to Amalco by the Depositary and the interest of the Former Shareholder in such Consideration to which it was entitled shall be terminated as of such final proscription date, and the Cancelled Certificates shall cease to represent a right or claim of any kind or nature as of such final proscription date. Any payment made by way of cheque by the Depositary (or Amalco, if applicable) pursuant to this Plan of Arrangement that has not been deposited or has been returned to the Depositary (or Amalco) or that otherwise remains unclaimed, in each case, on or before the final proscription date, and any right or claim to payment hereunder that remains outstanding on the final prospection date shall cease to represent a right or claim of any kind or nature and the right of the holder to receive the applicable consideration for the Common Shares, Options pursuant to this Plan of Arrangement shall terminate and be deemed to be surrendered and forfeited to Purchaser or the Company, as applicable, for no consideration.

Appears in 2 contracts

Samples: Arrangement Agreement (Corvus Gold Inc.), Arrangement Agreement (Anglogold Ashanti LTD)

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Limitation and Proscription. To the extent that a Former former Company Shareholder shall not have complied with the provisions of Section 4.1 5.1 or Section 4.2 5.2 on or before the date that is six (6) years after the Effective Date (the “final proscription date”), then then (a) the Consideration that such Former former Company Shareholder was entitled to receive shall be automatically cancelled without any repayment of capital in respect thereof and the Consideration to which such Former Shareholder was entitled, shall be delivered to Amalco by the Depositary and the interest of the Former Shareholder in such Consideration to which it was entitled shall be terminated as of such final proscription date, and the Cancelled Certificates shall cease to represent a right or claim of any kind or nature as of such final proscription date. Any payment made by way of cheque by the Depositary (or Amalco, if applicable) pursuant to this Plan of Arrangement that has not been deposited or has been returned to the Depositary (or Amalco) or that otherwise remains unclaimed, in each case, on or before the final proscription date, and any right or claim to payment hereunder that remains outstanding on the final prospection date shall cease to represent a right or claim of any kind or nature and the right of the holder to receive the applicable consideration for the Common Shares, Options Company Shares pursuant to this Plan of Arrangement shall terminate and be deemed to be surrendered and forfeited to Purchaser or the Company, as applicable, Company for no consideration, (b) the Consideration that such former Company Shareholder was entitled to receive shall be delivered to the Company by the Depositary, (c) the certificates formerly representing Company Shares deemed to be assigned and transferred by the holders thereof to the Purchaser pursuant to 3.2(d) or 3.2(e) shall cease to represent a right or claim of any kind or nature as of such final proscription date, and (d) any payment made by way of cheque by the Depositary pursuant to this Plan of Arrangement that has not been deposited or has been returned to the Depositary or that otherwise remains unclaimed, in each case, on or before the final proscription date shall cease to represent a right or claim of any kind or nature.

Appears in 1 contract

Samples: Arrangement Agreement

Limitation and Proscription. (1) To the extent that a Former former Alacer Shareholder shall not have complied with the provisions of Section 4.1 5.1 or Section 4.2 5.2 on or before the date that is six (6) three years less one day after the Effective Date (the “final proscription date”), then the Consideration SSR Shares that such Former former Alacer Shareholder was entitled to receive shall be automatically cancelled without any repayment of capital in respect thereof and the Consideration to which certificates representing such Former Shareholder was entitled, SSR Shares shall be delivered to Amalco SSR by the Depositary and the share certificates shall be cancelled by SSR, and the interest of the Former former Alacer Shareholder in such Consideration to which it was entitled SSR Shares and any other consideration in respect thereof shall be terminated as of such final proscription date, and the Cancelled Certificates shall cease to represent a right or claim of any kind or nature as of such final proscription date. . (2) Any payment made by way of cheque by SSR or the Depositary (or Amalco, if applicable) pursuant to this Plan of Arrangement that has not been deposited or has been returned to the Depositary (or Amalco) or that otherwise remains unclaimed, in each case, on or before the final proscription date, shall be returned by the Depositary to SSR and any right or claim to payment hereunder that remains outstanding on the final prospection proscription date shall cease to represent a right or claim by or interest of any kind or nature and the right of the former holder of Alacer Shares to receive the applicable any such consideration for the Common Shares, Options pursuant to this Plan of Arrangement shall terminate and be deemed to be surrendered and forfeited to Purchaser or the Company, as applicableSSR, for no consideration.

Appears in 1 contract

Samples: Arrangement Agreement (SSR Mining Inc.)

Limitation and Proscription. To the extent that a Former former Whistler Shareholder shall not have complied with the provisions of Section 4.1 5.1 or Section 4.2 5.2 on or before the date that is six (6) years after the Effective Date (the "final proscription date"), then the Consideration that such Former former Whistler Shareholder was entitled to receive shall be automatically cancelled without any repayment of capital in respect thereof and the Consideration to which such Former former Whistler Shareholder was entitled, shall be delivered to Amalco Vail or Exchangeco, as applicable, by the Depositary and the Vail Shares and Exchangeable Shares forming part of the Consideration shall be deemed to be cancelled, and the interest of the Former former Whistler Shareholder in such Consideration Vail Shares and Exchangeable Shares (and any dividend or other distribution referred to in Section 5.4) to which it was entitled shall be terminated as of such final proscription date, and the Cancelled Certificates certificates formerly representing Whistler Shares shall cease to represent a right or claim of any kind or nature as of such final proscription date. Any payment made by way of cheque by the Depositary (or Amalco, if applicable) pursuant to this Plan of Arrangement that has not been deposited or has been returned to the Depositary (or Amalco) or that otherwise remains unclaimed, in each case, on or before the final proscription date, and any right or claim to payment hereunder that remains outstanding on the final prospection date shall cease to represent a right or claim of any kind or nature and the right of the holder any Whistler Shareholder to receive the applicable consideration Consideration for the Common Shares, Options Whistler Shares pursuant to this Plan of Arrangement shall terminate and be deemed to be surrendered and forfeited to Purchaser or the Company, as applicable, for no considerationExchangeco.

Appears in 1 contract

Samples: Arrangement Agreement (Vail Resorts Inc)

Limitation and Proscription. To the extent that a Former former TransGlobe Shareholder shall not have complied with the provisions of Section 4.1 5.1 or Section 4.2 5.2 on or before the date that is six (6) years after the last Business Day prior to the third anniversary of the Effective Date (the “final proscription date”), then the Consideration that such Former former TransGlobe Shareholder was entitled to receive shall be automatically cancelled without any repayment of capital in respect thereof and the Consideration to which such Former former TransGlobe Shareholder was entitled, shall be delivered to Amalco VAALCO by the Depositary and the VAALCO Shares forming part of the Consideration shall be deemed to be cancelled, and the interest of the Former former TransGlobe Shareholder in such Consideration VAALCO Shares (and any dividend or other distribution referred to in Section 5.4) to which it was entitled shall be terminated as of such final proscription date, and the Cancelled Certificates certificates formerly representing TransGlobe Shares shall cease to represent a right or claim of any kind or nature as of such final proscription date. Any payment made by way of cheque by the Depositary (or Amalco, if applicable) pursuant to this Plan of Arrangement that has not been deposited or has been returned to the Depositary (or Amalco) or that otherwise remains unclaimed, in each case, on or before the final proscription date, and any right or claim to payment hereunder that remains outstanding on the final prospection date shall cease to represent a right or claim of any kind or nature and the right of the holder any TransGlobe Shareholder to receive the applicable consideration Consideration for the Common Shares, Options TransGlobe Shares pursuant to this Plan of Arrangement shall terminate and be deemed to be surrendered and forfeited to Purchaser or the Company, as applicable, for no considerationVAALCO.

Appears in 1 contract

Samples: Arrangement Agreement (Vaalco Energy Inc /De/)

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Limitation and Proscription. To the extent that a Former former Novadaq Shareholder shall not have complied with the provisions of Section 4.1 5.1 or Section 4.2 5.2 on or before the date that is six (6) years after the Effective Date (the “final proscription date”), then then (a) the Consideration that such Former former Novadaq Shareholder was entitled to receive shall be automatically cancelled without any repayment of capital in respect thereof and the Consideration to which such Former Shareholder was entitled, shall be delivered to Amalco by the Depositary and the interest of the Former Shareholder in such Consideration to which it was entitled shall be terminated as of such final proscription date, and the Cancelled Certificates shall cease to represent a right or claim of any kind or nature as of such final proscription date. Any payment made by way of cheque by the Depositary (or Amalco, if applicable) pursuant to this Plan of Arrangement that has not been deposited or has been returned to the Depositary (or Amalco) or that otherwise remains unclaimed, in each case, on or before the final proscription date, and any right or claim to payment hereunder that remains outstanding on the final prospection date shall cease to represent a right or claim of any kind or nature and the right of the holder to receive the applicable consideration for the Common Novadaq Shares, Options the Novadaq Options, the Novadaq DSUs and the Novadaq RSUs pursuant to this Plan of Arrangement shall terminate and be deemed to be surrendered and forfeited to Purchaser Stryker, Novadaq or the CompanyAcquireco, as applicable, for no consideration, (b) the Consideration that such former Novadaq Shareholder was entitled to receive shall be delivered to Stryker or Acquireco, as applicable, by the Depositary, (c) the certificates formerly representing Novadaq Shares shall cease to represent a right or claim of any kind or nature as of such final proscription date, and (d) any payment made by way of cheque by the Depositary pursuant to this Plan of Arrangement that has not been deposited or has been returned to the Depositary or that otherwise remains unclaimed, in each case, on or before the final proscription date shall cease to represent a right or claim of any kind or nature.

Appears in 1 contract

Samples: Arrangement Agreement (Novadaq Technologies Inc)

Limitation and Proscription. 11651580.2 To the extent that a Former former TransGlobe Shareholder shall not have complied with the provisions of Section 4.1 5.1 or Section 4.2 5.2 on or before the date that is six (6) years after the last Business Day prior to the third anniversary of the Effective Date (the “final proscription date”), then the Consideration that such Former former TransGlobe Shareholder was entitled to receive shall be automatically cancelled without any repayment of capital in respect thereof and the Consideration to which such Former former TransGlobe Shareholder was entitled, shall be delivered to Amalco VAALCO by the Depositary and the VAALCO Shares forming part of the Consideration shall be deemed to be cancelled, and the interest of the Former former TransGlobe Shareholder in such Consideration VAALCO Shares (and any dividend or other distribution referred to in Section 5.4) to which it was entitled shall be terminated as of such final proscription date, and the Cancelled Certificates certificates formerly representing TransGlobe Shares shall cease to represent a right or claim of any kind or nature as of such final proscription date. Any payment made by way of cheque by the Depositary (or Amalco, if applicable) pursuant to this Plan of Arrangement that has not been deposited or has been returned to the Depositary (or Amalco) or that otherwise remains unclaimed, in each case, on or before the final proscription date, and any right or claim to payment hereunder that remains outstanding on the final prospection date shall cease to represent a right or claim of any kind or nature and the right of the holder any TransGlobe Shareholder to receive the applicable consideration Consideration for the Common Shares, Options TransGlobe Shares pursuant to this Plan of Arrangement shall terminate and be deemed to be surrendered and forfeited to Purchaser or the Company, as applicable, for no considerationVAALCO.

Appears in 1 contract

Samples: Arrangement Agreement (Transglobe Energy Corp)

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