Common use of Amendment of Plan of Arrangement Clause in Contracts

Amendment of Plan of Arrangement. (a) PHM reserves the right to amend, modify and supplement this Plan of Arrangement at any time and from time to time, provided that any amendment, modification or supplement must be contained in a written document which is filed with the Court and, if made following the Meeting, approved by Newco and the Court and communicated to PHM Securityholders in the manner required by the Court (if so required). (b) Any amendment, modification or supplement to this Plan of Arrangement may be proposed by PHM at any time before or at the Meeting with or without any other prior notice or communication and if so proposed and accepted by the PHM Securityholders voting at the Meeting will become part of this Plan of Arrangement for all purposes. (c) Any amendment, modification or supplement to this Plan of Arrangement which is approved or directed by the Court following the Meeting will be effective only if it is consented to by PHM and Newco (each acting reasonably). (d) Notwithstanding the above, any amendment that concerns a matter that is of an administrative nature required to better give effect to the implementation of this Plan of Arrangement and is not adverse to the financial or economic interests of any Person in his, her or its capacity as an PHM Securityholder, will not require Court approval or communication to the PHM Securityholders.