Common use of Top-up Issuance Clause in Contracts

Top-up Issuance. (a) The Corporation agrees that from the Effective Date and until the expiry of the Anti-Dilution Period if the Shareholder's percentage ownership in the issued and outstanding Common Shares is reduced by more than 1.0% as a result of the issuance of Common for any reason (a "Top-Up Dilutive Event"), the Corporation will, within 10 days of such reduction, notify Shareholder of such reduction, and the Corporation will cause to be issued to Shareholder, that number of Common Shares as is necessary so that the Shareholder's maintains its percentage ownership of Common Shares immediately prior to the Top-Up Dilutive Event (on a non-diluted basis) after giving effect to the issuance of the Common Shares pursuant to the Top-Up Dilutive Event, for no additional consideration. (b) For greater clarity, Corporation shall not be required to issue any Common Shares pursuant to Section 3.1, unless and until Shareholder's percentage ownership changes by more than 1.0%. Notwithstanding the foregoing, however, concurrently with the expiration of the AntiDilution Period, Corporation shall issue such number of Common Shares (if any) so that the Shareholder's percentage ownership of Common Shares on a non-diluted basis upon expiry of the Anti-Dilution Period and after giving effect to the issuance of Common Shares pursuant to this section 3.1(b) shall be the same as Shareholder's percentage ownership would then have been if Common Shares had been issued under section 3.1(a), even if the change in Shareholder's percentage ownership was less than 1.0%. (c) Any issuance of Common Shares pursuant to this Section 3.1 is subject to applicable stock exchange and regulatory approvals (and any shareholder approval as may be required thereby), and Corporation will use its commercially reasonable efforts to make such filings or obtain such approvals as may be required.

Top-up Issuance. (a) The Subject to Section 3.1(d), the Corporation agrees that from the Effective Date and until the expiry of the Anti-Dilution Period if the Shareholder's percentage ownership in the issued and outstanding Common Shares is reduced by more than 1.0% as a result of the issuance of Common for any reason (a "Top-Up Dilutive Event"), the Corporation will, within 10 days of such reduction, notify Shareholder of such reduction, and the Corporation will cause to be issued to Shareholder, that number of Common Shares as is necessary so that the Shareholder's maintains its percentage ownership of Common Shares immediately prior to the Top-Up Dilutive Event (on a non-diluted basis) after giving effect to the issuance of the Common Shares pursuant to the Top-Up Dilutive Event, for no additional consideration. (b) For Subject to Section 3.1(d), for greater clarity, Corporation shall not be required to issue any Common Shares pursuant to Section 3.1, unless and until Shareholder's percentage ownership changes by more than 1.0%. Notwithstanding the foregoing, however, % except that concurrently with the expiration of the AntiDilution Anti-Dilution Period, the Corporation shall issue such number of Common Shares (if any) so that the Shareholder's percentage ownership of Common Shares on a non-diluted basis upon expiry of the Anti-Dilution Period and after giving effect to the issuance of Common Shares pursuant to this section 3.1(b) shall be the same as Shareholder's percentage ownership would then have been if Common Shares had been issued under section Section 3.1(a), but for this Section 3.1(b), even if the change in Shareholder's percentage ownership was is less than 1.0%. (c) Any issuance of Common Shares pursuant to this Section 3.1 is subject to applicable stock exchange and regulatory approvals (and any shareholder approval as may be required thereby), and Corporation will use its commercially reasonable efforts to make such filings or obtain such approvals as may be required. (d) Notwithstanding anything herein to the contrary, the maximum number of Common Shares issuable under Sections 3.1(a) and (b) of this Agreement shall not exceed an aggregate of 3,000,000 Common Shares and EMX shall not , directly or indirectly, own, control or exercise control over more than 19.9% of the issued and outstanding voting or equity securities of the Corporation as a result of the issue Common Shares pursuant to this Section 3.1.

Top-up Issuance. (a) The Subject to Section 3.1(d), the Corporation agrees that from the Effective Date and until the expiry of the Anti-Dilution Period if the Shareholder's percentage ownership in the issued and outstanding Common Shares is reduced by more than 1.0% as a result of the issuance of Common for any reason (a "Top-Up Dilutive Event"), the Corporation will, within 10 days of such reduction, notify Shareholder of such reduction, and the Corporation will cause to be issued to Shareholder, that number of Common Shares as is necessary so that the Shareholder's maintains its percentage ownership of Common Shares immediately prior to the Top-Up Dilutive Event (on a non-diluted basis) after giving effect to the issuance of the Common Shares pursuant to the Top-Top- Up Dilutive Event, for no additional consideration. (b) For Subject to Section 3.1(d), for greater clarity, Corporation shall not be required to issue any Common Shares pursuant to Section 3.1, unless and until Shareholder's percentage ownership changes by more than 1.0%. Notwithstanding the foregoing, however, % except that concurrently with the expiration of the AntiDilution Anti- Dilution Period, the Corporation shall issue such number of Common Shares (if any) so that the Shareholder's percentage ownership of Common Shares on a non-diluted basis upon expiry of the Anti-Dilution Period and after giving effect to the issuance of Common Shares pursuant to this section 3.1(b) shall be the same as Shareholder's percentage ownership would then have been if Common Shares had been issued under section Section 3.1(a), but for this Section 3.1(b), even if the change in Shareholder's percentage ownership was is less than 1.0%. (c) Any issuance of Common Shares pursuant to this Section 3.1 is subject to applicable stock exchange and regulatory approvals (and any shareholder approval as may be required thereby), and Corporation will use its commercially reasonable efforts to make such filings or obtain such approvals as may be required. (d) Notwithstanding anything herein to the contrary, the maximum number of Common Shares issuable under Sections 3.1(a) and (b) of this Agreement shall not exceed an aggregate of 3,000,000 Common Shares and EMX shall not , directly or indirectly, own, control or exercise control over more than 19.9% of the issued and outstanding voting or equity securities of the Corporation as a result of the issue Common Shares pursuant to this Section 3.1.