Payment Acknowledgement. (a) The Corporation acknowledges and agrees that it is a condition of Receiptholders’ payments of $134.50 per Subscription Receipt that the Escrowed Funds be held by the Subscription Receipt Agent in accordance with the provisions of Article 4 as agent and bailee on behalf of the holders of Subscription Receipts. The Corporation further acknowledges and confirms that it has and will have no interest in the Escrowed Funds or in the Earned Interest credited or received thereon until the Acquisition Closing Time or, in respect of any portion thereof payable to the Corporation pursuant to Section 3.3(a)(v) hereof, until the occurrence of a Termination Event. The Subscription Receipt Agent shall retain the Escrowed Funds as agent and bailee for and on behalf of the holders of Subscription Receipts and shall invest, disburse and deal with the Escrowed Funds as provided herein.
(b) The Corporation has directed the Investors to deliver the Proceeds to the Subscription Receipt Agent on closing by way of electronic wire transfer and, upon receipt, the Subscription Receipt Agent shall immediately place such funds in a segregated account in accordance with the provisions of this Agreement. In that regard, the Subscription Receipt Agent hereby acknowledges receipt from the Investors of a wire transfer or wire transfers of funds in the aggregate amount of $3,200,000,328.00 in respect of the Subscription Receipts issued to the Investors pursuant to the Subscription Agreements and confirms that such funds have been deposited in a segregated account designated as the “Intact Financial Corporation – Cornerstone Sub. Receipts” account (the “Subscription Proceeds Account”), and the Subscription Receipt Agent will retain and invest such funds solely as agent and bailee on behalf of the holders of Subscription Receipts in accordance with the terms of this Agreement pending payment and release of the Escrowed Funds in accordance with the terms of this Agreement. Upon receipt of these funds, the Subscription Receipt Agent shall execute one or more separate written receipt(s) to the Investors evidencing the funds having been received.
(c) The Corporation hereby:
(i) acknowledges that the amount received by the Subscription Receipt Agent pursuant to Section 2.1(b) represents payment in full by the Investors to the Subscription Receipt Agent of the Subscription Price for the 23,791,824 Subscription Receipts issued on the date hereof; and
(ii) irrevocably directs the Subscription Rec...
Payment Acknowledgement. The Subscription Receipt Agent will acknowledge receipt from the Agent and/or from the Corporation’s legal counsel of funds by certified cheque, bank draft or wire transfer, in the aggregate amount of $⚫, being the amount equal to the Escrowed Subscription Funds ($⚫) and the Agent's Escrowed Amounts ($⚫), and confirms that such Escrowed Subscription Funds and Agent's Escrowed Amounts have been deposited together in a trust account (the “Escrow Account”) to be held and dealt with in accordance with this Agreement. The Corporation hereby:
(i) acknowledges that the amounts received by the Subscription Receipt Agent pursuant to Subsection 2.2(a) in accordance with the direction of the Corporation to the Agent and/or to the Corporation’s legal counsel (as applicable) represents payment in full by the Agent of the aggregate Subscription Price for ⚫ Subscription Receipts;
(ii) irrevocably directs the Subscription Receipt Agent to hold such amounts received from the Agent and/or from the Corporation’s legal counsel in escrow in accordance with the terms of this Agreement pending release and payment of such amounts in accordance with the terms of this Agreement; and
(iii) irrevocably directs the Subscription Receipt Agent, immediately following the execution and delivery of this Agreement, to certify and deliver the Subscription Receipts in accordance with a written direction of the Corporation, one or more Subscription Receipt Certificates representing, in the aggregate, ⚫ Subscription Receipts registered in accordance with the Subscription Agreements received from Receiptholders. The Agent hereby irrevocably directs the Subscription Receipt Agent to retain the Agent’s Escrowed Amounts in accordance with the terms of this Agreement pending release and payment of such amount in accordance with the terms of this Agreement.
Payment Acknowledgement. (a) The Subscription Receipt Agent hereby acknowledges receipt from the Lead Underwriter of a wire transfer of funds in the aggregate amount of $175,000,640 and confirms that such funds have been deposited in a segregated account in the name of the Trust designated as "Harvest Energy Trust - Sub. Receipts", or as otherwise directed by the Trust and the Lead Underwriter, and the Subscription Receipt Agent will retain such amount in accordance with the terms of this Agreement pending payment of such amount in accordance with the terms of this Agreement.
(b) The Trust hereby:
(i) acknowledges that the amount received by the Subscription Receipt Agent pursuant to Section 2.1(a) in accordance with the Trust's direction to the Lead Underwriter, represents payment in full by the Underwriters of the Subscription Price for 6,505,600 Subscription Receipts; and
(ii) irrevocably directs the Subscription Receipt Agent to retain such amount in accordance with the terms of this Agreement pending payment of such amount in accordance with the terms of this Agreement.
Payment Acknowledgement. 2.2.1 The Special Warrant Agent will acknowledge by a separate receipt the wire transfer, bank draft or certified cheque from the Underwriters, on behalf of each of the Special Warrantholders of the Offering Proceeds and confirms that such funds have been deposited in a segregated account in the name of the Special Warrant Agent designated as the “Xxxxx Gaming Group Inc.—Special Warrants” or as otherwise directed by the Corporation and the Underwriters and will be used, invested and segregated in accordance with Article 6 hereof.
2.2.2 The Corporation hereby acknowledges that all amounts received by the Special Warrant Agent pursuant to Section 2.2.1 in accordance with the Corporation’s direction to the Underwriters, represents payment in full by the Special Warrantholders of the aggregate Issue Price for the Special Warrants and irrevocably directs the Special Warrant Agent to retain the amounts referred to in Section 2.2.1 in accordance with the terms of this Indenture pending payment of such amounts in accordance with the terms of this Indenture.
Payment Acknowledgement. Pursuant to the Asset Purchase Agreement, and in consideration for the Seller's and each Shareholder's covenant in Section 4 hereunder, the Seller will be paid the Purchase Price (as defined in the Asset Purchase Agreement) by the Company, subject to certain adjustments. Further, each of the Shareholders hereby represents that he or she (as applicable) is the beneficial owner of certain issued and outstanding shares of capital stock of the Seller. The Seller and each of the Shareholders acknowledge and agree that it, he or she (as applicable) will benefit materially and significantly from the Transactions.
Payment Acknowledgement. The parties acknowledge that the following amount(s) has previously been paid to the State in accordance with the Agreement: The amount of xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx (GST exclusive) has already been paid by the Commonwealth to the State as part of the Funds payable under the Project Schedule. Costs and GST Each party must meet or pay its own costs and expenses (including legal costs) in respect of the preparation, negotiation, execution and completion of this Variation. If GST is payable on any supply made under or in connection with this Variation, the recipient of the supply must pay to the supplier an additional amount equal to the GST payable on the supply provided that the supplier has given the recipient a tax invoice for the supply. The State must pay any stamp duties and registration or other fees (including fines, penalties and interest relating to such duties and fees) which are payable or are assessed by a relevant government body or other person to be payable in relation to this document or any transaction contemplated by it.
Payment Acknowledgement. The parties acknowledge that the following amount(s) has previously been paid to the State in accordance with the Agreement
(a) Gross amount of $38,045,920 (GST exclusive), representing Stage 1 $36,340,000 and Stage 2 $1,705,920; and
(b) Net amount $37,114,576 (Gross Income $38,045,920 less Interest recovery of $931,344).
Payment Acknowledgement. The parties acknowledge that the following amount(s) has previously been paid to the State in accordance with the Agreement Gross amount of $41,045,920 (GST exclusive), representing Stage 1 $39,340,000 and Stage 2 $1,705,920; and Net amount $40,114,576 (Gross Income $41,045,920 less Interest recovery of $931,344). Costs and GST Each party must meet or pay its own costs and expenses (including legal costs) in respect of the preparation, negotiation, execution and completion of this Variation. If GST is payable on any supply made under or in connection with this Variation, the recipient of the supply must pay to the supplier an additional amount equal to the GST payable on the supply provided that the supplier has given the recipient a tax invoice for the supply. The State must pay any stamp duties and registration or other fees (including fines, penalties and interest relating to such duties and fees) which are payable or are assessed by a relevant government body or other person to be payable in relation to this document or any transaction contemplated by it.
Payment Acknowledgement. (a) The Subscription Receipt Agent hereby acknowledges receipt from NBF of a wire transfer of funds in the aggregate amount of $30,000,000 and confirms that such funds have been deposited in a segregated account in the name of the Corporation designated as "Bellatrix Exploration Ltd. – Subscription Receipts", or as otherwise directed by the Corporation and the Lead Underwriter, and the Subscription Receipt Agent will retain such amount in accordance with the terms of this Agreement pending payment of such amount in accordance with the terms of this Agreement.
(b) The Corporation hereby acknowledges that the amount received by the Subscription Receipt Agent pursuant to Subsection 2.1(a) represents payment in full by the Underwriters of the Subscription Price for 25,000,000 Subscription Receipts and irrevocably directs the Subscription Receipt Agent to retain such amounts in accordance with the terms of this Agreement pending payment of such amount in accordance with the terms of this Agreement.
Payment Acknowledgement. The parties acknowledge that the following amount(s) has previously been paid to the State in accordance with the Agreement: Gross amount of $xxxxxxxxxx (GST exclusive), representing Stage 1 $xxxxxxxxxx and Stage 2 $xxxxxxxxxx. Nett amount $xxxxxxxxxx ( Gross Income $xxxxxxxxxx less Interest recovery of $xxxxxxx) Costs and GST Each party must meet or pay its own costs and expenses (including legal costs) in respect of the preparation, negotiation, execution and completion of this Variation. If GST is payable on any supply made under or in connection with this Variation, the recipient of the supply must pay to the supplier an additional amount equal to the GST payable on the supply provided that the supplier has given the recipient a tax invoice for the supply. The State must pay any stamp duties and registration or other fees (including fines, penalties and interest relating to such duties and fees) which are payable or are assessed by a relevant government body or other person to be payable in relation to this document or any transaction contemplated by it.
