Underwriters’ Obligations. (1) Subject to the terms of this Agreement, the Underwriters’ obligations under this Agreement to purchase the Offered Shares shall be several and not joint and several and the liability of each of the Underwriters to purchase the Offered Shares shall be limited to the following percentages of the purchase price paid for the Offered Shares: BMO Xxxxxxx Xxxxx Inc. 40.0% National Bank Financial Inc. 35.0% CIBC World Markets Inc. 10.0% Canaccord Genuity Corp. 5.0% Cormark Securities Inc. 5.0% RBC Dominion Securities Inc. 5.0%
(2) If any of the Underwriters fails to purchase its applicable percentage of the Offered Shares at the Closing Time or the Option Closing Time, as the case may be, (a “Defaulting Underwriter”) and the percentage of Offered Shares that have not been purchased by the Defaulting Underwriter represents 10% or less of the Offered Shares then the other Underwriters will be severally, and not jointly and severally, obligated to purchase, on a pro rata basis to their respective percentages as aforesaid, all but not less than all of the Offered Shares not purchased by the Defaulting Underwriter, and to receive the Defaulting Underwriter’s portion of the Underwriting Fee in respect thereof, and such non-defaulting Underwriters shall have the right, by notice to the Company, to postpone the Closing Date or Option Closing Date, as the case may be, by not more than three Business Days to effect such purchase. In the event that the percentage of Offered Shares that have not been purchased by a Defaulting Underwriter represents more than 10% of the aggregate Offered Shares, the other Underwriters will have the right, but will not be obligated, to purchase all of the percentage of the Offered Shares which would otherwise have been purchased by the Defaulting Underwriter; the Underwriters exercising such right will purchase such Offered Shares, if applicable, pro rata to their respective percentages aforesaid or in such other proportions as they may otherwise agree. In the event that such right is not exercised, the non-defaulting Underwriters shall be relieved of all obligations to the Company arising from such default. Nothing in this section shall oblige the Company to sell to the Underwriters less than all of the Offered Shares or relieve from liability to the Company any Underwriter which shall be so in default.
Underwriters’ Obligations. The obligations -------------------------------------------- of the several U.S. Underwriters hereunder are subject to the accuracy of the representations and warranties of the Company contained in Section 1 hereof or in certificates of any officer of the Company or any subsidiary of the Company delivered pursuant to the provisions hereof, to the performance by the Company of its covenants and other obligations hereunder, and to the following further conditions:
Underwriters’ Obligations. The several obligations -------------------------------------------- of the U.S. Underwriters to purchase the Firm Shares hereunder are subject to the following conditions:
Underwriters’ Obligations. The respective obligations of the U.S. Underwriters hereunder are subject to the accuracy, when made and on each Delivery Date, of the representations and warranties of the Company contained herein, to the performance by the Company of its obligations hereunder, and to each of the following additional terms and conditions:
Underwriters’ Obligations. Subject to compliance with Canadian Securities Laws, without affecting the firm obligation of the Underwriter to purchase from the Corporation 46,316,000 Units at the Offering Price in accordance with this Agreement, after the Underwriter has made reasonable efforts to sell all of the Units at the Offering Price, the Offering Price may be decreased by the Underwriter and further changed from time to time to an amount not greater than the Offering Price specified herein. Such decrease in the Offering Price will not affect the Underwriter’s Commission to be paid by the Corporation to the Underwriter or the Underwriter’s Warrants to be issued by the Corporation to the Underwriter, and it will not decrease the amount of the net proceeds of the Offering to be paid by the Underwriter to the Corporation, before deducting the expenses of the Offering. The Underwriter will inform the Corporation if the Offering Price is decreased.
Underwriters’ Obligations. The Underwriters’ obligations under this Agreement shall be several and not joint, and the Underwriters’ respective obligations and rights and benefits hereunder shall be as to the following percentages: Canaccord Genuity Corp. 80 % Desjardins Securities Inc. 10 % Union Securities Ltd. 10 % If any Underwriter shall not complete the purchase and sale of its applicable percentage of the aggregate amount of the Special Warrants at the Closing Time for any reason whatsoever, any other Underwriter shall have the right, but shall not be obligated, to purchase the Special Warrant which would otherwise have been purchased by the Underwriter which fails to purchase. If, with respect to the Special Warrants, the non-defaulting Underwriter elects not to exercise such rights to assume the entire obligations of the defaulting Underwriter, then the Corporation shall have the right to terminate its obligations hereunder without liability except in respect of its indemnity, contribution and expense obligations in respect of the non-defaulting Underwriter. Nothing in this section 17 shall oblige the Corporation to sell to the Underwriters less than all of the Special Warrants or shall relieve an Underwriter in default hereunder from liability to the Corporation.
Underwriters’ Obligations. The Underwriters’ obligations under this Agreement will be several and not joint, and the Underwriters’ respective obligations and rights and benefits hereunder will be as to the following percentages: PI Financial Corp. 75% Canaccord Genuity Corp. 15% Echelon Wealth Partners 10% In the event that one of the Underwriters will terminate this Agreement or fail to purchase its applicable percentage of the aggregate amount of the Units (or the Additional Units, if the Over-Allotment Option is exercised) (the “Defaulted Securities”) at the Closing Time, the non-defaulting Underwriters will have the right, but not the obligation, to purchase all but not less than all of the Defaulted Securities upon the terms herein set forth. No action taken pursuant to this Section 20 will relieve any defaulting Underwriter(s) from liability in respect of its default to the Company or to any non-defaulting Underwriter. In the event of any such default which does not result in a termination of this Agreement, the non-defaulting Underwriters will have the right to postpone the Closing for a period not exceeding three days in order to determine to proceed. In the event that such right to purchase is not exercised, the non-defaulting Underwriters will be relieved of all obligations to the Company. Nothing herein will oblige the Company to sell less than all of the Offered Securities.
Underwriters’ Obligations. The obligations of the U.S. Underwriters hereunder, as to the Stock to be delivered at each Time of Delivery, shall be subject, in their discretion, to the condition that all representations and warranties and other statements of the Company herein are, at and as of such Time of Delivery, true and correct, the condition that the Company shall have performed all of its obligations hereunder therefore to be performed, and the following additional conditions:
Underwriters’ Obligations. (1) Subject to the terms of this Agreement, the Underwriters obligations under this Agreement to purchase the Offered Units (or the Over-Allotment Securities if the Over-Allotment Option is exercised) shall be several and not joint and several and the liability of each of the Underwriters to purchase the Offered Units shall be limited to the following percentages of the purchase price paid for the Offered Units:
(1) (2) 55 % Cantor Fxxxxxxxxx Canada Corporation(1)(2) 30 % Sxxxxx Xxxxxxxx Canada Inc. 10 % Red Cloud Securities Inc. 5.0 % 100.0 %
(1) Joint bookrunners and co-lead underwriters
Underwriters’ Obligations. (1) Subject to the terms of this Agreement, the Underwriters' obligations under this Agreement to purchase the Offered Shares shall be several and not joint and several and the liability of each of the Underwriters to purchase the Offered Shares shall be limited to the following percentages of the purchase price paid or to be paid for the Offered Shares: RBC Dominion Securities Inc. 35% Canaccord Genuity Corp. 30%
