Examples of BIPC Shares in a sentence
BIPC will in good faith expeditiously take all such actions and do all such things as are reasonably necessary or desirable to cause all BIPC Shares to be delivered hereunder to be listed, quoted and posted for trading on all stock exchanges and quotation systems on which outstanding BIPC Shares have been listed by BIPC and remain listed and are quoted or posted for trading at such time.
If any cheque(s) and/or certificates for BIPC Shares, as applicable, is (are) to be sent to or, in respect of partial deposits of Common Shares, Certificates representing Common Shares are to be returned to, someone at an address other than the address of the Shareholder as it appears in Block A on this Letter of Transmittal, entitled “Payment Instructions”, then Block B on this Letter of Transmittal, entitled “Delivery Instructions”, should also be completed.
If Block B is not completed, any cheque(s) and/or certificates for BIPC Shares will be mailed to the depositing Shareholder at the address of such Shareholder as it appears in Block A or, if no address is provided in Block A, then it will be mailed to the address of such Shareholder as it appears on the securities register maintained by or on behalf of IPL.
Exchange LP agrees that, to the extent required, upon due notice from BIPC, Exchange LP will use its best efforts to take or cause to be taken such steps as may be necessary for the purposes of ensuring that appropriate distributions are made by Exchange LP, or Subdivisions are made to the Exchangeable LP Units, in order to implement the required economic equivalence with respect to the BIPC Shares and the Exchangeable LP Units as provided for in this Section 2.7.
All such BIPC Shares will be duly authorized and validly issued as fully paid, non-assessable, free of pre-emptive rights and will be free and clear of any lien, claim or encumbrance.
Any cheque(s) and/or certificates for BIPC Shares mailed in accordance with the terms of the Offer and this Letter of Transmittal will be deemed to be delivered at the time of mailing.
The issuance of the BIPC Shares as the Share Consideration is subject to receipt of customary approval from the TSX.
The IPL acquisitions were funded through cash provided by the partnership of $1.4 billion (IPL consortium total of $3.4 billion), $1.9 billion of BIPC Shares and Exchangeable LP Units, and $0.5 billion of asset level debt raised on closing (IPL consortium total of $0.9 billion).
The acquisition will be fully financed, with a maximum aggregate number of BIPC Shares and Exchangeable LP Units issued of approximately 31 million.
The Company's shareholders will have the option to elect to receive their consideration in cash, BIPC Shares or the mixture described above, subject to pro rata cut backs to the extent cash or BIPC Shares are oversubscribed.The Merger, which is currently expected to close in the third quarter of 2023, is subject to the receipt of required regulatory approvals and other customary closing conditions, including approval by the Company's shareholders.