Common use of Solicitations as Agents Clause in Contracts

Solicitations as Agents. On the basis of the representations and warranties herein contained, but subject to the terms and conditions herein set forth, each Agent agrees, as agent of Québec, to use its reasonable efforts to solicit offers to purchase the Notes upon the terms and conditions set forth in the Time of Sale Prospectus and the Prospectus and at a purchase price agreed to between Québec and the purchaser. Each Agent shall communicate to Québec, orally or in writing, each reasonable offer to purchase Notes received by such Agent. Québec shall have the sole right to accept offers to purchase the Notes and may reject any such offer in whole or in part. Each Agent shall have the right, in its discretion reasonably exercised, to reject any offer to purchase the Notes received by such Agent in whole or in part, and any such rejection shall not be deemed a breach of such Agent’s agreement contained herein. Québec agrees to pay to the relevant Agent a commission, which in the case of a sale under a Terms Agreement as provided in Section 2(b) shall be in the form of a discount, equal to a percentage of the principal amount of each Note sold by Québec as a result of a solicitation made by such Agent (the “Presenting Agent”), as agreed between Québec and the Presenting Agent but which shall not exceed the applicable percentage as set forth in Annex A hereto. Québec reserves the right, in its sole discretion, to suspend solicitation of purchases of the Notes commencing at any time for any period of time or permanently for any reason whatsoever. Upon receipt of instructions from Québec, each Agent will forthwith suspend solicitation of purchases of Notes from Québec until such time as Québec has advised the Agents that such solicitation may be resumed.

Solicitations as Agents. On the basis of the representations and warranties herein contained, but subject to the terms and conditions herein set forth, each Agent agrees, as agent of Québec, to use its reasonable efforts to solicit offers to purchase the Notes upon the terms and conditions set forth in the Time of Sale Prospectus and the Prospectus and at a purchase price agreed to between Québec and the purchaser. Each Agent shall communicate to Québec, orally or in writing, each reasonable offer to purchase Notes received by such Agent. Québec shall have the sole right to accept offers to purchase the Notes and may reject any such offer in whole or in part. Each Agent shall have the right, in its discretion reasonably exercised, to reject any offer to purchase the Notes received by such Agent in whole or in part, and any such rejection shall not be deemed a breach of such Agent’s 's agreement contained herein. Québec agrees to pay to the relevant Agent a commission, which in the case of a sale under a Terms Agreement as provided in Section 2(b) shall be in the form of a discount, equal to a percentage of the principal amount of each Note sold by Québec as a result of a solicitation made by such Agent (the “"Presenting Agent”"), as agreed between Québec and the Presenting Agent but which shall not exceed the applicable percentage as set forth in Annex A hereto. Québec reserves the right, in its sole discretion, to suspend solicitation of purchases of the Notes commencing at any time for any period of time or permanently for any reason whatsoever. Upon receipt of instructions from Québec, each Agent will forthwith suspend solicitation of purchases of Notes from Québec until such time as Québec has advised the Agents that such solicitation may be resumed.