Common use of Wire or Electronic Transfer of Funds Clause in Contracts

Wire or Electronic Transfer of Funds. Notwithstanding any other right, privilege, restriction or condition attaching to the Series 3 Shares, Noranda may, at its option, make any payment due to a holder of Series 3 Shares hereunder by way of a wire or electronic transfer of funds to each registered holder of Series 3 Shares. In the event that a payment is made by way of a wire or electronic transfer of funds, Noranda will be responsible for any applicable charges or fees relating to the making of such transfer. As soon as practicable following the determination by Noranda that a payment is to be made by way of a wire or electronic transfer of funds, Noranda will notify each registered holder of Series 3 Shares at the address of such holder as it appears on the register of holders. Such notice by Noranda will request that each registered holder of Series 3 Shares provide the particulars of an account of such holder with a chartered bank or trust company in Canada to which the wire or electronic transfer of funds will be directed. In the event that Noranda does not receive account particulars from a registered holder of Series 3 Shares prior to the date such payment is to be made, Noranda will deposit the funds otherwise payable to such holder in a special account or accounts in trust for each respective holder. The making of a payment by way of a wire or electronic transfer of funds or, in the case where a registered holder of the Series 3 Shares has not provided Noranda with account particulars for a wire or electronic transfer of funds, the deposit by Noranda of the funds otherwise payable to such holder in a special account or accounts in trust for such holder, will be deemed to constitute payment by Noranda on the date thereof and will satisfy and discharge all liabilities of Noranda for such payment to the extent of the amount represented by such transfer.

Wire or Electronic Transfer of Funds. Notwithstanding any other right, privilege, restriction or condition attaching to the Series 3 1 Shares, Noranda Concentra may, at its option, make any payment due to a holder of Series 3 1 Shares hereunder by way of a wire or electronic transfer of funds to each registered holder of Series 3 1 Shares. In the event that a payment is made by way of a wire or electronic transfer of funds, Noranda will Concentra shall be responsible for any applicable charges or fees relating to the making of such transfer. As soon as practicable following the determination by Noranda Concentra that a payment is to be made by way of a wire or electronic transfer of funds, Noranda will Concentra shall notify each registered holder of Series 3 1 Shares at the address of such holder as it appears on the register books of holdersConcentra. Such notice by Noranda Concentra will request that each registered holder of Series 3 1 Shares provide the particulars of an account of such holder with a chartered bank or trust company in Canada to which the wire or electronic transfer of funds will shall be directed. In the event that Noranda Concentra does not receive account particulars from a registered holder of Series 3 1 Shares prior to the date such payment is to be made, Noranda will Concentra shall deposit the funds otherwise payable to such holder in a special account or accounts in trust for each respective holdersuch holders. The making of a payment by way of a wire or electronic transfer of funds or, in the case where a registered holder of the Series 3 1 Shares has not provided Noranda Concentra with account particulars for a wire or electronic transfer of funds, the deposit by Noranda Concentra of the funds otherwise payable to such holder in a special account or accounts in trust for such holderholders, will shall be deemed to constitute payment by Noranda Concentra on the date thereof and will shall satisfy and discharge all liabilities of Noranda Concentra for such payment to the extent of the amount represented by such transfer. The following are the rights, privileges, restrictions and conditions (the “Series 2 Share Provisions”) attaching to the non-cumulative floating rate Class D shares, series 2 (the “Series 2 Shares”) of Concentra and are in addition to those rights, privileges, restrictions and conditions attaching to the unlimited number of Class D shares without nominal or par value, issuable in series, as a class (the "Class D Shares") of Concentra.

Wire or Electronic Transfer of Funds. Notwithstanding any other right, privilege, restriction or condition attaching to the Series 3 1 Shares, Noranda may, at its option, make any payment due to a holder of Series 3 1 Shares hereunder by way of a wire or electronic transfer of funds to each registered holder of Series 3 1 Shares. In the event that a payment is made by way of a wire or electronic transfer of funds, Noranda will be responsible for any applicable charges or fees relating to the making of such transfer. As soon as practicable following the determination by Noranda that a payment is to be made by way of a wire or electronic transfer of funds, Noranda will notify each registered holder of Series 3 1 Shares at the address of such holder as it appears on the register of holders. Such notice by Noranda will request that each registered holder of Series 3 1 Shares provide the particulars of an account of such holder with a chartered bank or trust company in Canada to which the wire or electronic transfer of funds will be directed. In the event that Noranda does not receive account particulars from a registered holder of Series 3 1 Shares prior to the date such payment is to be made, Noranda will deposit the funds otherwise payable to such holder in a special account or accounts in trust for each respective holder. The making of a payment by way of a wire or electronic transfer of funds or, in the case where a registered holder of the Series 3 1 Shares has not provided Noranda with account particulars for a wire or electronic transfer of funds, the deposit by Noranda of the funds otherwise payable to such holder in a special account or accounts in trust for such holder, will be deemed to constitute payment by Noranda on the date thereof and will satisfy and discharge all liabilities of Noranda for such payment to the extent of the amount represented by such transfer.

Wire or Electronic Transfer of Funds. Notwithstanding any other right, privilege, restriction or condition attaching to the Series 3 2 Shares, Noranda may, at its option, make any payment due to a holder of Series 3 2 Shares hereunder by way of a wire or electronic transfer of funds to each registered holder of Series 3 2 Shares. In the event that a payment is made by way of a wire or electronic transfer of funds, Noranda will be responsible for any applicable charges or fees relating to the making of such transfer. As soon as practicable following the determination by Noranda that a payment is to be made by way of a wire or electronic transfer of funds, Noranda will notify each registered holder of Series 3 2 Shares at the address of such holder as it appears on the register of holders. Such notice by Noranda will request that each registered holder of Series 3 2 Shares provide the particulars of an account of such holder with a chartered bank or trust company in Canada to which the wire or electronic transfer of funds will be directed. In the event that Noranda does not receive account particulars from a registered holder of Series 3 2 Shares prior to the date such payment is to be made, Noranda will deposit the funds otherwise payable to such holder in a special account or accounts in trust for each respective holder. The making of a payment by way of a wire or electronic transfer of funds or, in the case where a registered holder of the Series 3 2 Shares has not provided Noranda with account particulars for a wire or electronic transfer of funds, the deposit by Noranda of the funds otherwise payable to such holder in a special account or accounts in trust for such holder, will be deemed to constitute payment by Noranda on the date thereof and will satisfy and discharge all liabilities of Noranda for such payment to the extent of the amount represented by such transfer.