The Closing Date in respect of the Units. Payment of the Offering Price for the Firm Units, and if applicable, any Additional Units, shall be made to the Company by wire transfer against delivery of the Unit Shares and, if applicable, Additional Unit Shares, to the Co-Lead Underwriters on behalf of the Underwriters, through the facilities of CDS Clearing and Depository Services Inc. (“CDS”) and/or The Depository Trust Company (“DTC”) designated by the Underwriters, and delivery to the Underwriters of Warrants, and if applicable, Additional Warrant certificates, in such names and denominations as the Underwriters may request, and such payment and delivery shall be made at 8:30 a.m. (Toronto time), on July 12, 2016 (the “Closing Date”) (unless another time shall be agreed to by the Co-Lead Underwriters and the Company or unless postponed in accordance with the provisions of Section 9 hereof). The Unit Shares, Additional Shares, Warrants and Additional Warrants shall be registered in such names and in such denominations as specified by the Co-Lead Underwriters on behalf of the Underwriters. It is understood that the Co-Lead Underwriters have been authorized, for their own accounts and the accounts of the non-defaulting Underwriters, to accept delivery of and receipt for, and make payment of the Offering Price for, the Units the Underwriters have agreed to purchase (subject to such adjustment as the Co-Lead Underwriters may determine to eliminate fractional shares and subject to adjustment in accordance with Section 9 hereof). The Co-Lead Underwriters, individually and not as the Co-Lead Underwriters of the Underwriters, may (but shall not be obligated to) make payment for any Units to be purchased by any Underwriter whose funds shall not have been received by the Co-Lead Underwriters by the Closing Date for the account of such Underwriter, but any such payment shall not relieve such Underwriter from any of its obligations under this Agreement.
The Closing Date in respect of the Units. Payment of the Offering Price for the Firm Units shall be made to the Company by wire transfer against delivery of the Unit Shares to the Representative on behalf of the Underwriters, via The Depository Trust Company (“DTC”) Deposit or Withdrawal at Custodian system, and delivery to the Underwriters of the Warrants in certificated form, in such names and denominations as the Underwriters may request, and such payment and delivery shall be made at 9:00 a.m. (New York City time), on July 12, 2021 (the “Closing Date”) (unless another time shall be agreed to by the Representative and the Company or unless postponed in accordance with the provisions of Section 9 hereof). The Unit Shares and Warrants shall be registered in such names and in such denominations as specified by the Representative on behalf of the Underwriters. It is understood that the Representative has been authorized, for its own account and the accounts of the non-defaulting Underwriters, to accept delivery of and receipt for, and make payment of the Offering Price for, the Units the Underwriters have agreed to purchase (subject to such adjustment as the Representative may determine to eliminate fractional shares and subject to adjustment in accordance with Section 9 hereof). The Representative, individually and not as the Representative of the Underwriters, may (but shall not be obligated to) make payment for any Units to be purchased by any Underwriter whose funds shall not have been received by the Representative by the Closing Date for the account of such Underwriter, but any such payment shall not relieve such Underwriter from any of its obligations under this Agreement.
