Common use of Warrantholders May Not Xxx Clause in Contracts

Warrantholders May Not Xxx. (a) Subject to Section 7.1(b), no Warrantholder will have any right to institute any action or proceeding against the Corporation in relation to its rights under this Agreement, unless: (i) such holder has previously given to the Agent written notice of the nature of such action or proceeding; (ii) the holders of at least 10% of the Warrants have made a written request to the Agent and have afforded to it reasonable opportunities either itself to proceed to exercise the powers hereinbefore granted or to institute an action, suit or proceeding in its own name for such purpose; (iii) such Warrantholders have provided to the Agent, when so requested by the Agent, sufficient funds and security and indemnity satisfactory to it against the costs, expenses and liabilities to be incurred therein or thereby; and (iv) the Agent has failed to act within a reasonable time after such notification, request and provision of indemnity; and such notification, request and provision of indemnity are hereby declared in every such case, at the option of the Agent, to be conditions precedent to any such proceeding or for any other remedy hereunder by or on behalf of the holder of any Warrants. (b) Notwithstanding Section 7.1(a), a Warrantholder is not required to comply with Section 7.1(a)(ii) and Section 7.1(a)(iii) will not be applicable, if the Agent, notwithstanding compliance by the Warrantholders with Section 7.1(a)(i) and Section 7.1(a)(ii), has advised the Warrantholder in writing that it will not take any of the actions requested even if the Agent were to be provided with sufficient funds and security and indemnity satisfactory to it as contemplated by Section 7.1(a)(iii).

Warrantholders May Not Xxx. (a1) Subject to Section 7.1(b7.01(2), no Warrantholder holder of any Warrant will have any right to institute any action or proceeding against the Corporation in relation to its rights under this AgreementIndenture, unless: (ia) such holder has previously given to the Warrant Agent written notice of the nature of such action or proceeding; (iib) the holders of at least 1020% of the Warrants have made a written request to the Warrant Agent and have afforded to it reasonable opportunities either itself to proceed to exercise the powers hereinbefore granted or to institute an action, suit or proceeding in its own name for such purpose; (iiic) no Extraordinary Resolution has been signed restraining such action; (d) such Warrantholders have provided to the Warrant Agent, when so requested by the Warrant Agent, sufficient funds and security and indemnity satisfactory to it against the costs, expenses and liabilities to be incurred therein or thereby; and (ive) the Warrant Agent has failed to act within a reasonable time after such notification, request and provision of indemnity; and such notification, request and provision of indemnity are hereby declared in every such case, at the option of the Warrant Agent, to be conditions precedent to any such proceeding or for any other remedy hereunder by or on behalf of the holder of any Warrants. (b2) Notwithstanding Section 7.1(a7.01(1), a Warrantholder holder is not required to comply with Section 7.1(a)(ii7.01(1)(d) and Section 7.1(a)(iii7.01(1)(e) will not be applicable, if the Warrant Agent, notwithstanding compliance by the Warrantholders with Section 7.1(a)(iSections 7.01(1)(a) and Section 7.1(a)(ii(b), has advised the Warrantholder Warrantholders in writing that it will not take any of the actions requested in Section 7.01(1)(b) even if the Warrant Agent were to be provided with sufficient funds and security and indemnity satisfactory to it as contemplated by Section 7.1(a)(iii7.01(1)(d).

Warrantholders May Not Xxx. (a1) Subject to Section 7.1(b7.1(2), no Warrantholder holder of any Warrant will have any right to institute any action or proceeding against the Corporation in relation to its rights under this AgreementSeries I and Series II Warrant Indenture, the Series I Warrants, the Series I Warrant Certificates, the Series II Warrants or the Series II Warrant Certificates unless: (ia) such holder has previously given to the Warrant Agent written notice of the nature of such action or proceeding; (iib) the holders of at least 10% twenty-five per cent (25%) of the Series I Warrants and the Series II Warrants, on a combined basis, have made a written request to the Warrant Agent and have afforded to it reasonable opportunities either itself to proceed to exercise the powers hereinbefore granted or to institute an action, suit or proceeding in its own name for such purpose; (iiic) such Warrantholders have provided to the Warrant Agent, when so requested by the Warrant Agent, sufficient funds and security and indemnity satisfactory to it against the costs, expenses and liabilities to be incurred therein or thereby; and (ivd) the Warrant Agent has failed to act within a reasonable time after such notification, request and provision of indemnity; and such notification, request and provision of indemnity are hereby declared in every such case, at the option of the Warrant Agent, to be conditions precedent to any such proceeding or for any other remedy hereunder by or on behalf of the holder of any Warrants. (b2) Notwithstanding Section 7.1(a7.1(1), a Warrantholder holder is not required to comply with Section 7.1(a)(ii) 7.1(1)(c), and Section 7.1(a)(iii7.1(1)(d) will not be applicable, if the Warrant Agent, notwithstanding compliance by the Warrantholders with Section 7.1(a)(i7.1(1)(a) and Section 7.1(a)(ii7.1(1)(b), has advised the Warrantholder Warrantholders in writing that it will not take any of the actions requested in subsection 7.1(1)(b) even if the Warrant Agent were to be provided with sufficient funds and security and indemnity satisfactory to it as contemplated by Section 7.1(a)(iii7.1(1)(c).

Warrantholders May Not Xxx. (a) 5.1.1 Subject to Section 7.1(b)5.2, no Warrantholder holder of any Warrant will have any right to institute any action or proceeding against the Corporation in relation to its rights under this AgreementIndenture, unless: (ia) such holder has previously given to the Warrant Agent written notice of the nature of such action or proceeding; (iib) the holders of at least 1025% of the Warrants have made a written request to the Warrant Agent and have afforded to it reasonable opportunities either itself to proceed to exercise the powers hereinbefore granted or to institute an action, suit or proceeding in its own name for such purpose; (iiic) such Warrantholders have provided to the Warrant Agent, when so requested by the Warrant Agent, sufficient funds and security and indemnity satisfactory to it against the costs, expenses and liabilities to be incurred therein or thereby; and (ivd) the Warrant Agent has failed to act within a reasonable time after such notification, request and provision of indemnity; and such notification, request and provision of indemnity are hereby declared in every such case, at the option of the Warrant Agent, to be conditions precedent to any such proceeding or for any other remedy hereunder by or on behalf of the holder of any Warrants. (b) 5.1.2 Notwithstanding Section 7.1(a)5.1.1, a Warrantholder holder is not required to comply with Section 7.1(a)(ii5.1.1(c) and Section 7.1(a)(iii5.1.1(d) will not be applicable, if the Warrant Agent, notwithstanding compliance by the Warrantholders with Section 7.1(a)(i5.1.1(a) and Section 7.1(a)(ii(b), has advised the Warrantholder Warrantholders in writing that it will not take any of the actions requested in Section 5.1.1(b) even if the Warrant Agent were to be provided with sufficient funds and security and indemnity satisfactory to it as contemplated by Section 7.1(a)(iii5.1.1(c).