Retraction Subsequent to Automatic Put Sample Clauses

Retraction Subsequent to Automatic Put. Notwithstanding any other provisions of this Agreement or the Share Provisions, at any time after a Shareholder has received notice of a Specified Reorganization and prior to 5:00 p.m. (Calgary time) on the Business Day (the “Automatic Retraction Date”) immediately prior to the effective date of such Specified Reorganization, the Shareholder may at its option determine to immediately retract any or all of its Class A Preferred Shares and/or Class B Preferred Shares by delivering a Retraction Request to the address for notice for the Corporation as provided in this Agreement at any time before 5:00 p.m. (Calgary time) on the Automatic Retraction Date, in which case the Corporation shall forthwith issue an instrument in writing to such holder acknowledging its obligation to pay such holder the aggregate Class A Retraction Amount and/or Class B Retraction Amount applicable on the Business Day of delivery of such Retraction Request within 20 days thereof and shall redeem the Class A Preferred Shares and/or Class B Preferred Shares to which such Retraction Request relates in accordance with the provisions of Article 7 of the applicable Share Provisions for such Class A Retraction Amount and/or Class B Retraction Amount, as applicable, and such retraction shall be deemed for all purposes to have been effective on the Automatic Retraction Date. If a Shareholder delivers a Retraction Request pursuant to this Section 4.6, Putco shall not and shall not be required to purchase such Shareholder’s Class A Preferred Shares and Class B Preferred Shares pursuant to the Automatic Put Rights provided in this Article 4.
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