Common use of Optional Redemption of Debentures Clause in Contracts

Optional Redemption of Debentures. (a) The Issuer shall have the right to redeem the Debentures for cash, in whole or in part, (i) prior to August 18, 2011, if the Issuer determines it is necessary to redeem the Debentures in order to preserve the Guarantor’s status as a real estate investment trust and (ii) at any time or from time to time, on or after August 18, 2011, in each case upon the notice set forth in Section 3.02 at a redemption price (“Redemption Price”) equal to 100% of the principal amount of the Debentures to be redeemed plus unpaid interest, if any, accrued thereon to, but excluding, the Redemption Date; provided, however that if the Redemption Date falls after a Record Date and on or prior to the corresponding interest payment date, the Issuer will pay the full amount of accrued and unpaid interest, if any, on such interest payment date to the Holder of record at the close of business on the corresponding Record Date (instead of the Holder surrendering its Debentures for redemption) and the Redemption Price shall be equal to 100% of the principal amount of the Debentures to be redeemed. In connection with any redemption by the Issuer pursuant to clause (i) in this Section 3.01(a), the Issuer shall provide the Trustee with an Officers’ Certificate evidencing that the Board of Directors has, in good faith, made the determination that it is necessary to redeem the Debentures in order to preserve the Guarantor’s status as a real estate investment trust. (b) The Issuer shall not redeem the Debentures pursuant to Section 3.01(a) on any date if the principal amount of the Debentures has been accelerated, and such an acceleration has not been rescinded or cured on or prior to such date (except in the case of an acceleration resulting from a default by the Issuer in the payment of the Redemption Price with respect to the Debentures to be redeemed).

Optional Redemption of Debentures. (a) The Issuer Debentures are not redeemable prior to June 30, 2017. The Corporation shall have the right at its option to redeem the Debentures for cashDebentures, in whole or in part, (i) prior to August 18, 2011, if the Issuer determines it is necessary to redeem the Debentures in order to preserve the Guarantor’s status as a real estate investment trust and (ii) at any time or in part from time to time, on or after August 18June 30, 20112017 and prior to June 30, in each case upon 2018, on not more than 60 days and not less than 30 days prior notice to the notice set forth in Section 3.02 Holders, at a redemption price (“Redemption Price”) equal to 100% of the principal amount of the Debentures to be redeemed plus unpaid interest, if any, accrued thereon to, but excluding, the Redemption Date; provided, however that if the Redemption Date falls after a Record Date and on or prior to the corresponding interest payment date, the Issuer will pay the full amount of accrued and unpaid interest, if any, on such interest payment date to the Holder of record at the close of business on the corresponding Record Date (instead of the Holder surrendering its Debentures for redemption) and the Redemption Price shall be equal to 100% of the principal amount of the Debentures to be redeemed. In connection with any redemption , plus accrued and unpaid interest thereon, if any, up to but excluding the Redemption Date (the “Redemption Amount”), provided that the Weighted Average Trading Price of the Common Shares on a Recognized Stock Exchange for the 20 consecutive Trading Days ending five Trading Days prior to the date on which the Redemption Notice is given (where applicable, converted into Canadian Dollars using the noon rate of exchange posted by the Issuer pursuant to clause (iBank of Canada on the Business Day immediately preceding the date on which the Redemption Notice is given) in this Section 3.01(a), is not less than 125% of the Issuer shall provide the Trustee with an Officers’ Certificate evidencing that the Board of Directors has, in good faith, made the determination that it is necessary to redeem the Debentures in order to preserve the Guarantor’s status as a real estate investment trustConversion Price. (b) The Issuer On or after June 30, 2018 and prior to the Maturity Date, the Corporation shall not have the right at its option to redeem the Debentures pursuant Debentures, in whole at any time or in part from time to Section 3.01(a) time, on any date if not more than 60 days and not less than 30 days prior notice to the principal amount of the Debentures has been acceleratedHolders, and such an acceleration has not been rescinded or cured on or prior to such date (except in the case of an acceleration resulting from a default by the Issuer in the payment of at the Redemption Price Amount. (c) Concurrently with respect providing the Redemption Notice, the Corporation shall provide the Indenture Trustee with an Officer’s Certificate setting forth the details of any redemption contemplated by this section 3.1 (including the Current Market Price, the eligibility and interest calculations, if necessary) which the Indenture Trustee may rely upon without any independent obligation to verify the Debentures to be redeemed)accuracy of information set out therein.

Optional Redemption of Debentures. (a) The Issuer shall have the right may at its option at any time on or after November 13, 2016, and from time to time thereafter, redeem all, or any of the Debentures on not less than forty (40) and not more than sixty (60) days’ prior notice to the Holders for cash, in whole or in part, cash at the following redemption prices: (i) prior to August 18, 2011, if the Issuer determines it is necessary to redeem the Debentures in order to preserve the Guarantor’s status as a real estate investment trust and (ii) at any time or from time to time, on or after August 18, 2011, in each case upon the notice set forth in Section 3.02 at a redemption price (“Redemption Price”) equal to 100% of the principal amount of the Debentures to be redeemed plus unpaid interest, if any, accrued thereon to, but excluding, the Redemption Date; provided, however that if the Redemption Date falls after a Record Date and on or prior to the corresponding interest payment date, the Issuer will pay the full amount of accrued and unpaid interest, if any, on such interest payment date to the Holder of record at the close of business on the corresponding Record Date (instead of the Holder surrendering its Debentures for redemption) and the Redemption Price shall be equal to 100104% of the principal amount of the Debentures to be redeemed, plus accrued and unpaid interest thereon, if any, to but excluding the Redemption Date, if redeemed on or after November 13, 2016 and prior to November 13, 2017; (ii) 103% of the principal amount of the Debentures to be redeemed, plus accrued and unpaid interest thereon, if any, to but excluding the Redemption Date, if redeemed on or after November 13, 2017 and prior to November 13, 2018; (iii) 102% of the principal amount of the Debentures to be redeemed, plus accrued and unpaid interest thereon, if any, to but excluding the Redemption Date, if redeemed on or after November 13, 2018 and prior to November 13, 2019; and (iv) 101% of the principal amount of the Debentures to be redeemed, plus accrued and unpaid interest thereon, if any, to but excluding the Redemption Date, if redeemed on or after November 13, 2019 and prior to November 13, 2020. In connection This redemption right shall not prejudice the right of Holders to convert Debentures to Common Shares at any time up to and including the third Business Day prior to the Redemption Date. (b) Concurrently with any redemption by the Issuer pursuant to clause (i) in this Section 3.01(a)providing a Redemption Notice, the Issuer shall provide the Trustee with an Officers’ Officer’s Certificate evidencing that setting forth the Board details of Directors hasany redemption contemplated by this section 3.7 (including the eligibility and interest calculations, in good faith, made if necessary) which the determination that it is necessary Trustee may rely upon without any independent obligation to redeem verify the Debentures in order to preserve the Guarantor’s status as a real estate investment trustaccuracy of information set out therein. (b) The Issuer shall not redeem the Debentures pursuant to Section 3.01(a) on any date if the principal amount of the Debentures has been accelerated, and such an acceleration has not been rescinded or cured on or prior to such date (except in the case of an acceleration resulting from a default by the Issuer in the payment of the Redemption Price with respect to the Debentures to be redeemed).

Optional Redemption of Debentures. (a) The Issuer shall have the right may at its option at any time on or after November —, 2016, and from time to time thereafter, redeem all, or any of the Debentures on not less than forty (40) and not more than sixty (60) days’ prior notice to the Holders for cash, in whole or in part, cash at the following redemption prices: (i) prior to August 18, 2011, if the Issuer determines it is necessary to redeem the Debentures in order to preserve the Guarantor’s status as a real estate investment trust and (ii) at any time or from time to time, on or after August 18, 2011, in each case upon the notice set forth in Section 3.02 at a redemption price (“Redemption Price”) equal to 100% of the principal amount of the Debentures to be redeemed plus unpaid interest, if any, accrued thereon to, but excluding, the Redemption Date; provided, however that if the Redemption Date falls after a Record Date and on or prior to the corresponding interest payment date, the Issuer will pay the full amount of accrued and unpaid interest, if any, on such interest payment date to the Holder of record at the close of business on the corresponding Record Date (instead of the Holder surrendering its Debentures for redemption) and the Redemption Price shall be equal to 100104% of the principal amount of the Debentures to be redeemed, plus accrued and unpaid interest thereon, if any, to but excluding the Redemption Date, if redeemed on or after November —, 2016 and prior to November —, 2017; (ii) 103% of the principal amount of the Debentures to be redeemed, plus accrued and unpaid interest thereon, if any, to but excluding the Redemption Date, if redeemed on or after November —, 2017 and prior to November —, 2018; (iii) 102% of the principal amount of the Debentures to be redeemed, plus accrued and unpaid interest thereon, if any, to but excluding the Redemption Date, if redeemed on or after November —, 2018 and prior to November —, 2019; and (iv) 101% of the principal amount of the Debentures to be redeemed, plus accrued and unpaid interest thereon, if any, to but excluding the Redemption Date, if redeemed on or after November —, 2019 and prior to November —, 2020. In connection This redemption right shall not prejudice the right of Holders to convert Debentures to Common Shares at any time up to and including the third Business Day prior to the Redemption Date. (b) Concurrently with any redemption by the Issuer pursuant to clause (i) in this Section 3.01(a)providing a Redemption Notice, the Issuer shall provide the Trustee with an Officers’ Officer’s Certificate evidencing that setting forth the Board details of Directors hasany redemption contemplated by this section 3.7 (including the eligibility and interest calculations, in good faith, made if necessary) which the determination that it is necessary Trustee may rely upon without any independent obligation to redeem verify the Debentures in order to preserve the Guarantor’s status as a real estate investment trustaccuracy of information set out therein. (b) The Issuer shall not redeem the Debentures pursuant to Section 3.01(a) on any date if the principal amount of the Debentures has been accelerated, and such an acceleration has not been rescinded or cured on or prior to such date (except in the case of an acceleration resulting from a default by the Issuer in the payment of the Redemption Price with respect to the Debentures to be redeemed).

Optional Redemption of Debentures. (a) The Issuer Debentures are not redeemable on or prior to June 30, 2014. The Corporation shall have the right at its option to redeem the Debentures for cashDebentures, in whole or in part, (i) prior to August 18, 2011, if the Issuer determines it is necessary to redeem the Debentures in order to preserve the Guarantor’s status as a real estate investment trust and (ii) at any time or in part from time to time, on or after August 18July 1, 20112014 and prior to June 30, in each case upon 2016, on not more than 60 days and not less than 30 days prior notice to the notice set forth in Section 3.02 Holders, at a redemption price (“Redemption Price”) equal to 100% of the principal amount of the Debentures to be redeemed plus unpaid interest, if any, accrued thereon to, but excluding, the Redemption Date; provided, however that if the Redemption Date falls after a Record Date and on or prior to the corresponding interest payment date, the Issuer will pay the full amount of accrued and unpaid interest, if any, on such interest payment date to the Holder of record at the close of business on the corresponding Record Date (instead of the Holder surrendering its Debentures for redemption) and the Redemption Price shall be equal to 100% of the principal amount of the Debentures to be redeemed. In connection with any redemption , plus accrued and unpaid interest thereon, if any, up to but excluding the Redemption Date (the “Redemption Amount”), provided that the Weighted Average Trading Price of the Common Shares on a Recognized Stock Exchange for the 20 consecutive Trading Days ending five Trading Days prior to the date on which the Redemption Notice is given (where applicable, converted into US Dollars using the noon rate of exchange posted by the Issuer pursuant to clause (iBank of Canada on the Business Day immediately preceding the date on which the Redemption Notice is given) in this Section 3.01(a), is not less than 125% of the Issuer shall provide the Trustee with an Officers’ Certificate evidencing that the Board of Directors has, in good faith, made the determination that it is necessary to redeem the Debentures in order to preserve the Guarantor’s status as a real estate investment trustConversion Price. (b) The Issuer On or after June 30, 2016 and prior to the Maturity Date, the Corporation shall not have the right at its option to redeem the Debentures pursuant Debentures, in whole at any time or in part from time to Section 3.01(a) time, on any date if not more than 60 days and not less than 30 days prior notice to the principal amount of the Debentures has been acceleratedHolders, and such an acceleration has not been rescinded or cured on or prior to such date (except in the case of an acceleration resulting from a default by the Issuer in the payment of at the Redemption Price Amount. (c) Concurrently with respect providing the Redemption Notice, the Corporation shall provide the Indenture Trustee with an Officer’s Certificate setting forth the details of any redemption contemplated by this section 3.1 (including the Current Market Price, the eligibility and interest calculations, if necessary) which the Indenture Trustee may rely upon without any independent obligation to verify the Debentures to be redeemed)accuracy of information set out therein.