Common use of Underwriters’ Obligations Clause in Contracts

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 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 Dundee – 60% Scotia Capital Inc. – 30% Desjardins Securities Inc. 10 % Union Securities Ltd. 10 – 10% If any an Underwriter shall (a “Refusing Underwriter”) does not complete the purchase and sale of its applicable percentage of the aggregate amount of the Special Warrants at the Closing Time Offered Shares which such Underwriter has agreed to purchase hereunder for any reason whatsoever, any the other Underwriter Underwriters (the “Continuing Underwriters”) shall have the rightbe entitled, but shall not be obligatedat their option, 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 all but 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 Offered Shares which otherwise would have been purchased by such Refusing Underwriter in default hereunder from liability pro rata according to the Corporationnumber of Offered Shares to have been acquired by the Continuing Underwriter hereunder. If the Continuing Underwriter does not elect to purchase the balance of the Offered Shares pursuant to the foregoing: (a) the Continuing Underwriter shall not be obliged to purchase any of the Offered Shares that the Refusing Underwriter is obligated to purchase; and (b) the Corporation shall not be obliged to sell less than all of the Offered Shares, and the Corporation shall be entitled to terminate its obligations under this Agreement arising from its acceptance of this offer, in which event there shall be no further liability on the part of the Corporation or the Continuing Underwriter, except pursuant to the provisions of Sections 13 and 14 inclusive. Notwithstanding the foregoing, the Refusing Underwriter shall not be entitled to the benefit of the provisions of Sections 13 and 14 following such termination.

Underwriters’ Obligations. (1) The Underwriters’ obligations under this Agreement shall be several and not jointjoint or joint and several, and the Underwriters’ respective obligations and rights and benefits hereunder shall be as to the following percentages: Canaccord Genuity Corp. 80 60% Desjardins Beacon Securities Inc. 10 Limited 40% Union Securities Ltd. 10 % If any 100% (2) In the event that an Underwriter shall ( a “ Refusing Underwriter”) does not complete the purchase and sale of its applicable percentage of the aggregate amount of the Special Warrants at the Closing Time Debentures that such Underwriter has agreed to purchase hereunder for any reason whatsoever, any the other Underwriter shall have (the right“Continuing Underwriter”) will be entitled, but shall not be obligatedat its option, to purchase all, but not less than all, of the Special Warrant Debentures which would otherwise have been purchased by the Refusing Underwriter. If the Continuing Underwriter which fails does not elect to purchase the balance of the Debentures pursuant to the foregoing: (a) the Continuing Underwriter will not be obligated to purchase any of the Debentures that the Refusing Underwriter is obligated 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 ; (b) 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 will not be obligated to sell to the Underwriters less than all of the Special Warrants Debentures; and (c) the Corporation will be entitled to terminate its obligations under this Agreement arising from its acceptance of this offer, in which event there will be no further liability on the part of the Corporation or shall relieve an Underwriter in default hereunder from liability the Continuing Underwriter, except pursuant to the Corporationprovisions of Section 10, Section 11 and Section 14.