Common use of Manner of Exercise of Conversion Privilege Clause in Contracts

Manner of Exercise of Conversion Privilege. (1) The Conversion Privilege may be exercised by notice in writing (a “Conversion Notice”) given not earlier than 30 days prior to a Series 25 Conversion Date but not later than 5:00 p.m. (Toronto time) on the 15th day preceding a Series 25 Conversion Date during usual business hours at any office of any transfer agent of the Bank at which the Preferred Shares Series 25 are transferable accompanied by: (1) payment or evidence of payment of the tax (if any) payable as provided in this Section (vii)C; and (2) the certificate or certificates representing the Preferred Shares Series 25 in respect of which the holder thereof desires to exercise the Conversion Privilege with the transfer form on the back thereof or other appropriate stock transfer power of attorney duly endorsed by the holder, or his or her attorney duly authorized in writing, in which Conversion Notice such holder may also elect to convert part only of the Preferred Shares Series 25 represented by such certificate or certificates not theretofore called for redemption in which event the Bank shall issue and deliver or cause to be delivered to such holder, at the expense of the Bank, a new certificate representing the Preferred Shares Series 25 represented by such certificate or certificates that have not been converted. Each Conversion Notice shall be irrevocable.

Manner of Exercise of Conversion Privilege. (1) The Conversion Privilege may be exercised by notice in writing (a “Conversion Notice”) given not earlier than 30 days prior to a Series 25 24 Conversion Date but not later than 5:00 p.m. (Toronto time) on the 15th day preceding a Series 25 24 Conversion Date during usual business hours at any office of any transfer agent of the Bank at which the Preferred Shares Series 25 24 are transferable accompanied by: (1) payment or evidence of payment of the tax (if any) payable as provided in this Section (vii)C; and (2) the certificate or certificates representing the Preferred Shares Series 25 24 in respect of which the holder thereof desires to exercise the Conversion Privilege with the transfer form on the back thereof or other appropriate stock transfer power of attorney duly endorsed by the holder, or his or her attorney duly authorized in writing, in which Conversion Notice such holder may also elect to convert part only of the Preferred Shares Series 25 24 represented by such certificate or certificates not theretofore called for redemption in which event the Bank shall issue and deliver or cause to be delivered to such holder, at the expense of the Bank, a new certificate representing the Preferred Shares Series 25 24 represented by such certificate or certificates that have not been converted. Each Conversion Notice shall be irrevocable.