Common use of Timing of Rights Offering Clause in Contracts

Timing of Rights Offering. Subject to and in accordance with the provisions hereof, PolyMet agrees that it will file with the Securities Authorities in the Qualifying Jurisdictions and with the SEC: (i) the Preliminary Prospectus and the Registration Statement as soon as practicable following the execution of this Agreement and in any event no later than the date hereof; and (ii) the Final Prospectus and the Registration Statement on or before the day which is five Business Days immediately following the date on which all necessary approvals and consents are received from the Securities Authorities that are necessary or advisable, in PolyMet’s opinion, acting reasonably, to proceed with the filing of the Final Prospectus and the Registration Statement and completion of the Rights Offering (or such other date as the Parties may agree acting reasonably). PolyMet will use its best efforts to obtain a Decision Document as soon as possible following the filing of each of the Preliminary Prospectus and Final Prospectus with the Securities Authorities and to obtain final TSX and NYSE MKT approval of the Rights Offering as soon as possible following the filing of the Final Prospectus with the Securities Authorities and the Registration Statement with the SEC. On receipt of the Decision Document and final TSX and NYSE MKT approval, PolyMet shall:

Timing of Rights Offering. Subject to and in accordance with the provisions hereof, PolyMet agrees that it will file with the Securities Authorities in the Qualifying Jurisdictions and with the SEC: (ia) the Preliminary Prospectus and the Registration Statement as soon as practicable following the execution of this Agreement and in any event for the avoidance of doubt, no later than the close of business on the date hereofon which this Agreement is executed; and (iib) the Final Prospectus and the Registration Statement on or before the day which is five Business Days immediately following the later of the date on which which: (x) all necessary approvals and consents are received from the Securities Authorities that are necessary or advisable, in PolyMet’s opinion, acting reasonably, to proceed with the filing of the Final Prospectus and the Registration Statement and completion of the Rights Offering Offering; or (y) the HSR Clearance shall have been obtained on terms acceptable to Glencore in its sole discretion (or such other date as the Parties may agree acting reasonably). PolyMet will use its best efforts to obtain a Decision Document as soon as possible following the filing of each of the Preliminary Prospectus and Final Prospectus with the Securities Authorities and to obtain final TSX and NYSE MKT American approval of the Rights Offering as soon as possible following the filing of the Final Preliminary Prospectus with the Securities Authorities and the Registration Statement with the SEC. On receipt of the Decision Document and final TSX and NYSE MKT American approval, PolyMet shall: