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.

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.

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.

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.