Common use of Payments by Depositary Clause in Contracts

Payments by Depositary. (a) On or prior to the Effective Date, Cona shall deliver or arrange to be delivered to the Depositary the Shareholder Consideration, in the form of cash in Canadian dollars which shall be held by the Depositary as agent and nominee for the Shareholders and Incentiveholders for distribution to such holders in accordance with the provision of this Section 4.2. (b) Upon surrender to the Depositary for cancellation of a certificate or certificates which, immediately prior to the Effective Time, represented outstanding Shares that were transferred pursuant to Section 3.1(i) hereof, together with a duly completed and executed Shareholder Letter of Transmittal and such additional documents and instruments as the Depositary may reasonably require, the Shareholders represented by such surrendered certificate(s) shall be entitled to receive, and the Depositary shall deliver to such holder, the Shareholder Consideration which such Shareholder has the right to receive under this Plan for such Shares, less any amounts withheld pursuant to Section 4.7 hereof in accordance with the applicable Shareholder Letter of Transmittal, and any certificate(s) so surrendered shall forthwith be cancelled. (c) Upon surrender to the Depositary for cancellation of a certificate(s) or agreement(s) which, immediately prior to the Effective Time, represented outstanding Incentives that were surrendered and transferred pursuant to Section 3.1(c) hereof, together with a duly completed and executed Shareholder Letter of Transmittal and such additional documents and instruments as the Depositary may reasonably require, the Incentiveholders represented by such surrendered certificate(s) or agreement(s) shall be entitled to receive, and the Depositary shall deliver to such holder, the Shareholder Consideration which such Incentiveholder has the right to receive under this Plan for such Incentives, less any amounts withheld pursuant to Section 4.7 hereof in accordance with the applicable Shareholder Letter of Transmittal, and any certificate(s) or agreement(s) so surrendered shall forthwith be cancelled. (d) Neither the Parties nor their respective directors or officers shall have any liability or obligation in respect of any deliveries, directly or indirectly, from the Depositary to the ultimate beneficial recipients of any consideration payable or deliverable pursuant to this Plan.

Payments by Depositary. (a) On or prior Subject to the Effective Dateprovisions of Section 11.3, Cona Depositary shall deliver or arrange pay over to Tenant from time to time, upon the following terms, any monies which may be delivered to the received by Depositary the Shareholder Consideration, in the form of cash in Canadian dollars which shall be held from insurance provided by the Depositary as agent and nominee for the Shareholders and Incentiveholders for distribution to such holders in accordance with the provision of this Section 4.2. Tenant (bother than rent insurance) Upon surrender to the Depositary for cancellation of a certificate or certificates which, immediately prior to the Effective Time, represented outstanding Shares that were transferred pursuant to Section 3.1(i) hereof, together with a duly completed and executed Shareholder Letter of Transmittal and such additional documents and instruments as the Depositary may reasonably require(collectively, the Shareholders represented by "Restoration Funds"); provided, however, that Depositary, before paying such surrendered certificate(s) monies over to Tenant, shall be entitled to receivereimburse itself and Landlord therefrom to the extent, if any, of the expenses paid or incurred by Depositary or Landlord in the collection of such monies. Depositary shall pay to Tenant the Restoration Funds, for the purpose of Restoration to be made by Tenant to Restore the Improvements to a value which shall be not less than their value prior to such fire or other casualty. Such Restoration shall be done in accordance with, and subject to the provisions of Article 5, including, without limitation, the maintenance of the insurance coverage referred to in Section 10.1(c). Prior to the making of any Restoration, Tenant shall furnish Landlord with an estimate of the cost of such Restoration, prepared by a licensed professional engineer or registered architect, approved by Landlord, which approval shall not be unreasonably withheld, conditioned or delayed and which approval shall be deemed to have been given if Landlord does not furnish to Tenant, within fifteen (15) business days following receipt of Tenant’s request, either Landlord’s written approval of such estimate or Xxxxxxxx’s specific written objections thereto. The Restoration Funds shall be paid to Tenant from time to time thereafter in installments as the Restoration progresses, upon application to be submitted from time to time by Tenant to Depositary, with a copy to Landlord showing the cost of work, labor, services, materials, fixtures and equipment incorporated in the Restoration, or incorporated therein since the last previous application, and paid for by Tenant or then due and owing. If any vendor's, mechanic's, laborer's, or materialman's lien is filed against the Land or any part thereof, the Depositary shall deliver withhold an amount equal to one hundred fifty percent (150%) of the amount which is the subject of such holderlien until such lien is satisfied or otherwise discharged. The amount of any installment to be paid to Tenant shall be such proportion of the total Restoration Funds as the cost of work, labor, services, materials, fixtures and equipment theretofore incorporated by Tenant in the Restoration bears to the total estimated cost of the Restoration by Tenant, less (a) all payments heretofore made to Tenant out of the Restoration Funds, and (b) ten percent (10%) of the total Restoration Funds. Upon completion of and payment for the Restoration by Tenant, the Shareholder Consideration which such Shareholder has balance of the right Restoration Funds shall be paid over to receive Tenant, subject to the rights of any Mortgagee named as an insured. In the event that the Restoration Funds are insufficient for the purpose of paying for the Restoration, Tenant nevertheless shall be required to make the Restoration and pay any additional sums required for the Restoration. If Landlord makes the Restoration at Tenant’s expense, as provided in Section 11.1, then, as provided above with respect to Tenant, Depositary shall pay over the Restoration Funds to Landlord, from time to time, upon Xxxxxxxx's application accompanied by a certificate containing the statements required under this Plan for such Sharesclauses (a), less any amounts withheld pursuant to Section 4.7 hereof in accordance with the applicable Shareholder Letter of Transmittal, (b) and any certificate(s) so surrendered shall forthwith be cancelled. (c) Upon surrender of Section 11.3, to the Depositary for cancellation of a certificate(s) or agreement(s) which, immediately prior extent not previously paid to the Effective Time, represented outstanding Incentives that were surrendered and transferred pursuant to Section 3.1(c) hereof, together with a duly completed and executed Shareholder Letter of Transmittal and such additional documents and instruments as the Depositary may reasonably require, the Incentiveholders represented by such surrendered certificate(s) or agreement(s) shall be entitled to receive, and the Depositary shall deliver to such holder, the Shareholder Consideration which such Incentiveholder has the right to receive under this Plan for such Incentives, less any amounts withheld pursuant to Section 4.7 hereof in accordance with the applicable Shareholder Letter of Transmittal, and any certificate(s) or agreement(s) so surrendered shall forthwith be cancelled. (d) Neither the Parties nor their respective directors or officers shall have any liability or obligation in respect of any deliveries, directly or indirectly, from the Depositary to the ultimate beneficial recipients of any consideration payable or deliverable Tenant pursuant to this PlanSection 11.2, and Tenant shall pay to Depositary, on demand, any sums which Landlord certifies to be an estimate of the amount necessary to complete the Restoration, less the undisbursed Restoration Funds.

Payments by Depositary. (a) On or prior to the Effective Date, Cona shall deliver or arrange to be delivered to the Depositary the Shareholder Cash Consideration, in the form of cash in Canadian dollars which which, from and after the Effective Time, shall be held by the Depositary as agent and nominee for the Shareholders and (including, for greater certainty, Incentiveholders who will receive Shares pursuant to Section 3.1(c)) for distribution to such holders in accordance with the provision of this Section 4.2. (b) Upon Subject to Section 4.2(c), upon surrender to the Depositary for cancellation of a certificate or certificates which, immediately prior to the Effective Time, represented outstanding Shares that were transferred pursuant to Section 3.1(i3.1(k) hereof, together with a duly completed and executed Shareholder Letter of Transmittal and such additional documents and instruments as the Depositary may reasonably require, the Shareholders represented by such surrendered certificate(s) shall be entitled to receive, and the Depositary shall deliver to such holder, the Shareholder Cash Consideration which such Shareholder has the right to receive under this Plan for such Shares, less any amounts withheld pursuant to Section 4.7 hereof in accordance with the applicable Shareholder Letter of Transmittal, and any certificate(s) so surrendered shall forthwith be cancelled. (c) Upon surrender to the Depositary for cancellation of a certificate(sNotwithstanding Section 4.2(b): (i) or agreement(s) which, immediately prior to the Effective Time, represented outstanding Incentives that were surrendered and transferred former Incentiveholders who receive Shares pursuant to Section 3.1(c) hereof, together with shall not be required to complete and deliver to the Depositary a duly completed and executed Shareholder Letter of Transmittal and such additional documents and instruments as or surrender for cancellation a certificate representing the Depositary may reasonably require, the Incentiveholders represented Shares received by such surrendered certificate(sformer Incentiveholder pursuant to Section 3.1(c) or agreement(s) shall be entitled in order to receive, and receive the Depositary shall deliver to such holder, the Shareholder Cash Consideration which such Incentiveholder Shareholder has the right to receive under this Plan for such IncentivesShares, less any amounts withheld pursuant to Section 4.7 hereof 4.7; and (ii) the Depositary shall be entitled to rely on the LTIP Schedule in accordance with determining the applicable Shareholder Letter of TransmittalPersons entitled to receive, and the amount of, Cash Consideration, less applicable withholdings, in respect of any certificate(s) or agreement(s) so surrendered shall forthwith be cancelledShares issued to former Incentiveholders pursuant to Section 3.1(c). (d) Neither the Parties nor their respective directors or officers shall have any liability or obligation in respect of any deliveries, directly or indirectly, from the Depositary to the ultimate beneficial recipients of any consideration payable or deliverable pursuant to this Plan.

Payments by Depositary. (a) On or prior to the Effective Date, Cona shall deliver or arrange to be delivered to the Depositary the Shareholder Cash Consideration, in the form of cash in Canadian dollars which which, from and after the Effective Time, shall be held by the Depositary as agent and nominee for the Shareholders and (including, for greater certainty, Incentiveholders who will receive Shares pursuant to Section 3.1(c)) for distribution to such holders in accordance with the provision of this Section 4.2. (b) Upon . Subject to Section 4.2(c), upon surrender to the Depositary for cancellation of a certificate or certificates which, immediately prior to the Effective Time, represented outstanding Shares that were transferred pursuant to Section 3.1(i3.1(k) hereof, together with a duly completed and executed Shareholder Letter of Transmittal and such additional documents and instruments as the Depositary may reasonably require, the Shareholders represented by such surrendered certificate(s) shall be entitled to receive, and the Depositary shall deliver to such holder, the Shareholder Cash Consideration which such Shareholder has the right to receive under this Plan for such Shares, less any amounts withheld pursuant to Section 4.7 hereof in accordance with the applicable Shareholder Letter of Transmittal, and any certificate(s) so surrendered shall forthwith be cancelled. (c) Upon surrender to the Depositary for cancellation of a certificate(s) or agreement(s) which, immediately prior to the Effective Time, represented outstanding Incentives that were surrendered and transferred . Notwithstanding Section 4.2(b): former Incentiveholders who receive Shares pursuant to Section 3.1(c) hereof, together with shall not be required to complete and deliver to the Depositary a duly completed and executed Shareholder Letter of Transmittal and such additional documents and instruments as or surrender for cancellation a certificate representing the Depositary may reasonably require, the Incentiveholders represented Shares received by such surrendered certificate(sformer Incentiveholder pursuant to Section 3.1(c) or agreement(s) shall be entitled in order to receive, and receive the Depositary shall deliver to such holder, the Shareholder Cash Consideration which such Incentiveholder Shareholder has the right to receive under this Plan for such IncentivesShares, less any amounts withheld pursuant to Section 4.7 hereof 4.7; and the Depositary shall be entitled to rely on the LTIP Schedule in accordance with determining the applicable Shareholder Letter of TransmittalPersons entitled to receive, and the amount of, Cash Consideration, less applicable withholdings, in respect of any certificate(s) or agreement(s) so surrendered shall forthwith be cancelled. (d) Shares issued to former Incentiveholders pursuant to Section 3.1(c). Neither the Parties nor their respective directors or officers shall have any liability or obligation in respect of any deliveries, directly or indirectly, from the Depositary to the ultimate beneficial recipients of any consideration payable or deliverable pursuant to this Plan.