Common use of Repayment of Unclaimed Monies Clause in Contracts

Repayment of Unclaimed Monies. Subject to applicable law, any monies set aside under Section 9.2 and not claimed by and paid to holders of Debentures as provided in Section 9.2 within six years after the date of such setting aside shall be repaid to the Corporation by the Debenture Trustee and thereupon the Debenture Trustee shall be released from all further liability with respect to such monies and thereafter the holders of the Debentures in respect of which such monies were so repaid to the Corporation shall have no rights in respect thereof except to obtain payment and delivery of the monies from the Corporation subject to any limitation provided by the laws of the Province of Alberta. Notwithstanding the foregoing, the Debenture Trustee will pay any remaining funds prior to the expiry of six years after the setting aside described in Section 9.2 to the Corporation upon receipt from the Corporation, or one of its Subsidiaries, of an uncontested letter of credit from a Schedule A Canadian chartered bank in an amount equal to or in excess of the amount of the remaining funds. If the remaining funds are paid to the Corporation prior to the expiry of six years after such setting aside, the Corporation shall reimburse the Debenture Trustee for any amounts so set aside which are required to be paid by the Debenture Trustee to a holder of a Debenture after the date of such payment of the remaining funds to the Corporation but prior to six years after such setting aside.

Repayment of Unclaimed Monies. Subject to applicable lawApplicable Law, any monies set aside under Section 9.2 and not claimed by and paid to holders of Debentures Noteholders as provided in Section 9.2 within six five years less a day after the date of such setting aside shall be repaid and delivered upon the Corporation’s written request, to the Corporation by the Debenture Trustee and thereupon the Debenture Trustee shall be released from all further liability with respect to such monies and thereafter the holders of the Debentures Notes in respect of which such monies were so repaid to the Corporation shall have no rights in respect thereof thereof, except to obtain payment and delivery of the monies from the Corporation subject to any limitation provided by the laws of the Province of AlbertaApplicable Laws. Notwithstanding the foregoing, the Debenture Trustee will pay any remaining funds prior to the expiry of six five years less a day after the setting aside described in Section 9.2 to the Corporation upon receipt from the Corporation, or one of its Subsidiaries, of an uncontested unconditional letter of credit from a Schedule A Canadian chartered bank in an amount equal to or in excess of the amount of the remaining funds. If the remaining funds are paid to the Corporation prior to the expiry of six five years less a day after such setting aside, the Corporation shall reimburse the Debenture Trustee for any amounts so set aside which are required to be paid by the Debenture Trustee to a holder of a Debenture Note after the date of such payment of the remaining funds to the Corporation but prior to six five years less a day after such setting aside.

Repayment of Unclaimed Monies. ‌ Subject to applicable law, any monies set aside under Section 9.2 and not claimed by and paid to holders of Debentures as provided in Section 9.2 within six years after the date of such setting aside shall be repaid and delivered to the Corporation by the Debenture Trustee Trustee, upon receipt of written direction from the Corporation, and thereupon the Debenture Trustee shall be released from all further liability with respect to such monies and thereafter the holders of the Debentures in respect of which such monies were so repaid to the Corporation shall have no rights in respect thereof except to obtain payment and delivery of the monies from the Corporation subject to any limitation provided by the laws of the Province of AlbertaOntario. Notwithstanding the foregoing, the Debenture Trustee will pay any remaining funds prior to the expiry of six years after the setting aside described in Section 9.2 8.2 to the Corporation upon receipt from the Corporation, or one of its Subsidiaries, of an uncontested unconditional letter of credit from a Schedule A Canadian chartered bank in an amount equal to or in excess of the amount of the remaining funds. If the remaining funds are paid to the Corporation prior to the expiry of six years after such setting aside, the Corporation shall reimburse the Debenture Trustee for any amounts so set aside which are required to be paid by the Debenture Trustee to a holder of a Debenture after the date of such payment of the remaining funds to the Corporation but prior to six years after such setting aside.

Repayment of Unclaimed Monies. Subject to applicable law, any monies set aside under Section 9.2 8.2 and not claimed by and paid to holders of Debentures Note as provided in Section 9.2 8.2 within six years after the date of such setting aside shall be repaid and delivered to the Corporation by the Debenture Note Trustee and thereupon the Debenture Note Trustee shall be released from all further liability with respect to such monies and thereafter the holders of the Debentures Note in respect of which such monies were so repaid to the Corporation shall have no rights in respect thereof except to obtain payment and delivery of the monies and without interest, from the Corporation subject to any limitation prescription provided by the laws of the Province of AlbertaOntario. Notwithstanding the foregoing, the Debenture Note Trustee will pay any remaining funds prior to the expiry of six years after the setting aside described in Section 9.2 8.2 to the Corporation upon receipt from the Corporation, or one of its Subsidiaries, of an uncontested letter of credit from a Schedule A Canadian chartered bank in an amount equal to or in excess of the amount of the remaining funds. If the remaining funds are paid to the Corporation prior to the expiry of six years after such setting aside, the Corporation shall reimburse the Debenture Note Trustee for any amounts so set aside which are required to be paid by the Debenture Note Trustee to a holder of a Debenture Note after the date of such payment of the remaining funds to the Corporation but prior to six years after such setting aside.