Common use of Subdivisions Clause in Contracts

Subdivisions. In the event of a subdivision, consolidation or similar pro rata change in the number of outstanding Preferred Shares into a greater or lesser number of Preferred Shares, the Plan Agent will proportionately credit or debit the account of each Shareholder maintained under the Plan according to the number of Preferred Shares held for the account of that Shareholder prior to or concurrently with the effective time of the subdivision, consolidation or similar change.