Common use of Post-Effective Time Procedures Clause in Contracts

Post-Effective Time Procedures. (a) On or immediately prior to the Effective Date, New Gold shall deliver or arrange to be delivered to the Depositary certificates representing the requisite New Gold Common Shares and cash required to be issued and paid in accordance with the provisions of subsection 3.1(b) hereof, which certificates and cash shall be held by the Depositary as agent and nominee for Former Metallica Shareholders for distribution to such Former Metallica Shareholders in accordance with the provisions of Article VI hereof.

Post-Effective Time Procedures. (a) On or immediately prior to promptly after the Effective Date, New Gold shall deliver or arrange to be delivered to the Depositary certificates representing the requisite New Gold Common Shares required to be issued to Former Peak Shareholders and the requisite cash required to be issued and paid to Former Peak Shareholders in accordance with the provisions of subsection 3.1(b) Section 3.01 hereof, which certificates and cash shall be held by the Depositary as agent and nominee for such Former Metallica Peak Shareholders for distribution to such Former Metallica Peak Shareholders in accordance with the provisions of Article VI 5 hereof.