TIMBERWEST FOREST CORP Sample Clauses

TIMBERWEST FOREST CORP a company incorporated under the laws of British Columbia (hereinafter referred to as the “Company”) OF CANADA, a trust company existing under the laws of Canada (hereinafter referred to as “Computershare”) a trust company existing under the laws of British Columbia (hereinafter referred to as “Valiant Trust”)

TIMBERWEST FOREST CORP. (the “Company”) for value received hereby acknowledges itself indebted and, subject to the provisions of the trust indenture (the “Indenture”) dated as of February 11, 2009 between the Company and Valiant Trust Company (the “Debenture Trustee”), promises to pay to the registered holder hereof, •, on February 11, 2014 (the “Maturity Date”) or on such earlier date as the principal amount hereof may become due in accordance with the provisions of the Indenture, the principal sum of • (CDN$ •), plus all accrued and unpaid interest thereon to, but excluding, the Maturity Date (less any tax required by law to be deducted), in lawful money of Canada on presentation and surrender of this Debenture at the principal offices of the Debenture Trustee in Vancouver or Calgary in accordance with the terms of the Indenture. This Debenture will bear interest from and including the date of issue, both before and after the Maturity Date and before and after default, calculated and payable with respect to the preceding Interest Period in cash quarterly in arrears on each Interest Payment Date, at the rate of 9% per annum, to, but excluding, the earlier of (i) the date of conversion of this Debenture, in full, in accordance with the terms of the Indenture; (ii) the date of redemption of this Debenture, in full, in accordance with the terms of the Indenture; and (iii) the date the principal amount and all accrued and unpaid interest under this Debenture is repaid in full. Interest is payable on the 15th day of the first calendar month (each, an “Interest Payment Date”), being the 15th day of each of January, April, July and October, in respect of interest accrued for the preceding three consecutive months (each, an “Interest Period”), being January, February and March; April, May and June; July, August and September; and October, November and December; of each calendar year during the term of this Debenture. The first Interest Payment Date under this Debenture is April 15, 2009. As interest becomes due on this Debenture (except at maturity, on conversion or on redemption, when interest is paid upon surrender of this Debenture), the Company shall pay such interest by cheque mailed by prepaid ordinary mail to the registered holder hereof or by electronic transfer of funds to the registered holder hereof and, subject to the provisions of the Indenture, the mailing of such cheque or the sending of such electronic transfer of funds shall, to the extent of the sum represented thereby...