Common use of Reconfirmation and Approval Clause in Contracts

Reconfirmation and Approval. This Agreement must be reconfirmed by a resolution passed by a majority of greater than 50% of the votes cast by all holders of Voting Shares who vote in respect of such reconfirmation at every third annual meeting. If the Agreement is not so reconfirmed or is not presented for reconfirmation at such annual meeting, the Agreement and all outstanding Rights shall terminate and be void and of no further force and effect on and from the date of termination of the annual meeting; provided that termination shall not occur if a Flip-in Event has occurred (other than a Flip-in Event which has been waived pursuant to Subsection 5.1(a) or (h) hereof), prior to the date upon which this Agreement would otherwise terminate pursuant to this Section 5.16.

Reconfirmation and Approval. This Agreement must be reconfirmed by a resolution passed by a majority of greater than 50% of the votes cast by all holders of Voting Shares Independent Shareholders who vote in respect of such reconfirmation resolution at the annual meeting of TransAlta to be held in 2022 and at every third annual meetingmeeting of TransAlta thereafter (each such annual meeting being a “Reconfirmation Meeting”). If the Agreement is not so reconfirmed or is not presented for reconfirmation at any such annual meetingReconfirmation Meeting, the this Agreement and all outstanding Rights shall terminate and be void and of no further force and effect on and from the close of business on the date of termination of the annual meetingapplicable Reconfirmation Meeting; provided provided, that termination shall not occur if a Flip-in Event has occurred (other than a Flip-in Event which has been waived pursuant to Subsection 5.1(a), 5.1(h) or (h5.1(i) hereof), prior to the date upon which this Agreement would otherwise terminate pursuant to this Section 5.16.

Reconfirmation and Approval. This Agreement must be reconfirmed by a resolution passed by a majority of greater than 50% of the votes cast by all holders of Voting Shares Independent Shareholders who vote in respect of such reconfirmation resolution at the annual meeting of TransAlta to be held in 2025 and at every third annual meetingmeeting of TransAlta thereafter (each such annual meeting being a “Reconfirmation Meeting”). If the Agreement is not so reconfirmed or is not presented for reconfirmation at any such annual meetingReconfirmation Meeting, the this Agreement and all outstanding Rights shall terminate and be void and of no further force and effect on and from the close of business on the date of termination of the annual meetingapplicable Reconfirmation Meeting; provided provided, that termination shall not occur if a Flip-in Event has occurred (other than a Flip-in Event which has been waived pursuant to Subsection 5.1(a), 5.1(h) or (h5.1(i) hereof), prior to the date upon which this Agreement would otherwise terminate pursuant to this Section 5.16.