Common use of Release of the Escrowed Funds Clause in Contracts

Release of the Escrowed Funds. ‌ If the Escrow Release Time occurs on or before the Escrow Release Deadline the Corporation shall be entitled to receive from the Subscription Receipt Agent the Escrowed Funds and the Earned Interest thereon, less the Subscription Receipt Agent’s remaining fees and expenses. The Subscription Receipt Agent shall deliver the funds referred to in this Section 3.2 to the Corporation (or as directed by the Corporation) as soon as practicable after the delivery of the Escrow Release Notice referred to in Section 3.1 by certified cheque, bank draft or wire transfer, but in any event, no later than three (3) Business Days following the deemed receipt by the Subscription Receipt Agent of the Escrow Release Notice. The Escrow Release Notice delivered to the Subscription Receipt Agent must be received by the Subscription Receipt Agent no later than 11:30 a.m. (Vancouver time) on the Business Day on which the funds are to be released. Any Escrow Release Notice received by the Subscription Receipt Agent after 11:30 a.m. (Vancouver time) or received on a day that is not a Business Day shall be deemed to have been given prior to 11:30 a.m. (Vancouver time) on the next Business Day.

Release of the Escrowed Funds. ‌ If the Escrow Release Time occurs on or before the Escrow Release Deadline (i) the Corporation shall be entitled to receive from the Subscription Receipt Agent the Escrowed Subscription Funds and the Earned Interest thereon, less and (ii) the Agent shall be entitled to receive from the Subscription Receipt Agent the Agent’s remaining fees Escrowed Amounts and expensesthe Earned Interest thereon in accordance with Section 4.2. The Subscription Receipt Agent shall deliver the funds referred to in this Section 3.2 to the Corporation and the Agent (or as directed by the CorporationCorporation and the Agent, as applicable) as soon as practicable after the delivery of the Escrow Release Notice referred to in Section 3.1 by certified cheque, bank draft or wire transfer, but in any event, no later than three (3) Business Days following the deemed receipt by the Subscription Receipt Agent of the Escrow Release Notice. The Any Escrow Release Notice delivered to the Subscription Receipt Agent must be received by the Subscription Receipt Agent no later than 11:30 10:00 a.m. (Vancouver Montreal time) on the Business Day day on which the funds are to be released. Any Escrow Release Notice received by the Subscription Receipt Agent after 11:30 10:00 a.m. (Vancouver Montreal time) or received on a day that is not a Business Day shall be deemed to have been given prior to 11:30 10:00 a.m. (Vancouver Montreal time) on the next Business Day.

Release of the Escrowed Funds. ‌ If the Escrow Release Time occurs on or before the Escrow Release Deadline (i) the Corporation shall be entitled to receive from the Subscription Receipt Agent the Escrowed Subscription Funds and the Earned Interest thereon, less and (ii) Canaccord Genuity, on behalf of the Underwriters, shall be entitled to receive from the Subscription Receipt Agent’s remaining fees Agent the Escrowed Underwriters’ Fee and expensesthe Earned Interest thereon. The Subscription Receipt Agent shall deliver the funds referred to in this Section 3.2 to the Corporation and Canaccord Genuity (or as directed by the CorporationCorporation and Canaccord Genuity, as applicable) as soon as practicable after the delivery of the Escrow Release Notice referred to in Section 3.1 by certified cheque, bank draft or wire transfer, but in any event, no later than three (3) Business Days following the deemed receipt by the Subscription Receipt Agent of the Escrow Release Notice3.1. The Any Escrow Release Notice delivered to the Subscription Receipt Agent must be received by the Subscription Receipt Agent no later than 11:30 9:00 a.m. (Vancouver Montréal time) on the Business Day day on which the funds are to be released. Any Escrow Release Notice received by the Subscription Receipt Agent after 11:30 9:00 a.m. (Vancouver time) or received on a day that is not a non-Business Day shall be deemed to have been given prior to 11:30 9:00 a.m. (Vancouver time) on the next Business Day.

Release of the Escrowed Funds. ‌ If the Escrow Release Time occurs on or before the Escrow Release Deadline (i) the Corporation shall be entitled to receive from the Subscription Receipt Agent the Escrowed Subscription Funds and the Earned Interest thereon, less and (ii) the Agent shall be entitled to receive from the Subscription Receipt Agent the Escrowed Agent’s remaining fees 's Commission and expensesthe Earned Interest thereon in accordance with Section 4.2. The Subscription Receipt Agent shall deliver the funds referred to in this Section 3.2 to the Corporation and the Agent (or as directed by the CorporationCorporation and the Agent, as applicable) as soon as practicable after the delivery of the Escrow Release Notice referred to in Section 3.1 by certified cheque, bank draft or wire transfer, but in any event, no later than three (3) Business Days following the deemed receipt by the Subscription Receipt Agent of the Escrow Release Notice. The Any Escrow Release Notice delivered to the Subscription Receipt Agent must be received by the Subscription Receipt Agent no later than 11:30 a.m. 12:00 p.m. (Vancouver Toronto time) on the Business Day day on which the funds are to be released. Any Escrow Release Notice received by the Subscription Receipt Agent after 11:30 a.m. (Vancouver time) 12:00 p.m. or received on a day that is not a non-Business Day shall be deemed to have been given prior to 11:30 a.m. (Vancouver time) 12:00 p.m. on the next Business Day.