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 (i) the Corporation shall be entitled to receive from the Subscription Receipt Agent the Escrowed Subscription Funds and the Earned Interest thereon, and (ii) Canaccord Genuity, on behalf of the Underwriters, shall be entitled to receive from the Subscription Receipt Agent the Escrowed Underwriters’ Fee and the 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 Corporation and Canaccord Genuity, as applicable) as soon as practicable after the delivery of the Escrow Release Notice referred to in Section 3.1. Any Escrow Release Notice delivered to the Subscription Receipt Agent must be received by the Subscription Receipt Agent no later than 9:00 a.m. (Montréal time) on the day on which the funds are to be released. Any Escrow Release Notice received by the Subscription Receipt Agent after 9:00 a.m. or received on a non-Business Day shall be deemed to have been given prior to 9:00 a.m. 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, and (ii) Canaccord Genuity, on behalf of the Underwriters, shall be entitled to receive from less the Subscription Receipt Agent the Escrowed Underwriters’ Fee Agent’s remaining fees and the Earned Interest thereonexpenses. 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 Corporation and Canaccord Genuity, as applicableCorporation) as soon as practicable after the delivery of the Escrow Release Notice referred to in Section 3.13.1 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. Any The Escrow Release Notice delivered to the Subscription Receipt Agent must be received by the Subscription Receipt Agent no later than 9:00 11:30 a.m. (Montréal Vancouver time) on the day Business Day on which the funds are to be released. Any Escrow Release Notice received by the Subscription Receipt Agent after 9:00 11:30 a.m. (Vancouver time) or received on a non-day that is not a Business Day shall be deemed to have been given prior to 9:00 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, and (ii) Canaccord Genuity, on behalf of the Underwriters, Agent shall be entitled to receive from the Subscription Receipt Agent the Agent’s Escrowed Underwriters’ Fee Amounts and the Earned Interest thereonthereon 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 Canaccord Genuity the Agent (or as directed by the Corporation and Canaccord Genuitythe Agent, as applicable) as soon as practicable after the delivery of the Escrow Release Notice referred to in Section 3.13.1 by certified cheque, bank draft or wire transfer. Any Escrow Release Notice delivered to the Subscription Receipt Agent must be received by the Subscription Receipt Agent no later than 9:00 10:00 a.m. (Montréal Montreal time) on the day on which the funds are to be released. Any Escrow Release Notice received by the Subscription Receipt Agent after 9:00 10:00 a.m. (Montreal time) or received on a non-day that is not a Business Day shall be deemed to have been given prior to 9:00 10:00 a.m. (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, and (ii) Canaccord Genuity, on behalf of the Underwriters, Agent shall be entitled to receive from the Subscription Receipt Agent the Escrowed Underwriters’ Fee Agent's Commission and the Earned Interest thereonthereon 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 Canaccord Genuity the Agent (or as directed by the Corporation and Canaccord Genuitythe Agent, as applicable) as soon as practicable after the delivery of the Escrow Release Notice referred to in Section 3.13.1 by certified cheque, bank draft or wire transfer. Any Escrow Release Notice delivered to the Subscription Receipt Agent must be received by the Subscription Receipt Agent no later than 9:00 a.m. 12:00 p.m. (Montréal Toronto time) on the day on which the funds are to be released. Any Escrow Release Notice received by the Subscription Receipt Agent after 9:00 a.m. 12:00 p.m. or received on a non-Business Day shall be deemed to have been given prior to 9:00 a.m. 12:00 p.m. on the next Business Day.