Common use of Payment Acknowledgement Clause in Contracts

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.

Payment Acknowledgement. (a) The Corporation acknowledges and agrees that it is a condition of Receiptholders’ payments payment of $134.50 42.85 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 ReceiptsReceiptholders. The Corporation further acknowledges and confirms that it has and will have no interest in the Escrowed Funds or in the Earned Interest received or credited or received thereon until the Acquisition Closing Time (and then only to the extent payable to the Corporation pursuant to Section 3.1(b)) or, in respect of any portion thereof payable to the Corporation pursuant to Section 3.3(a)(v) hereof3.3(a), until the occurrence of a Termination EventTime. The Subscription Receipt Agent shall retain the Escrowed Funds as agent and bailee for and on behalf of the holders of Subscription Receipts Receiptholders and shall invest, disburse and deal with the Escrowed Funds as provided herein.