Common use of Redemption in Common Shares Clause in Contracts

Redemption in Common Shares. (1) The Corporation may pay any or all of that portion of the Redemption Amount representing the Principal Sum to be redeemed by issuing to the Holder a number of Common Shares that is equal to the quotient resulting from dividing that portion of the Redemption Amount representing the Principal Sum which is to be redeemed in Common Shares by the Common Share Redemption Price. (2) The Common Share Redemption Price shall be equal to 95% of the Twenty Day Weighted Average Trading Price determined as of the Trading Day immediately prior to the date of redemption. (3) Notwithstanding the foregoing, the Corporation may only satisfy all or part of the Redemption Amount by issuing Common Shares if on the Trading Day immediately prior to the date of redemption, the closing price of the Common Shares on the TSE or such other exchange or market selected by the Directors shall have been no less than 120% of the Conversion Price then in effect on such date.