Common use of Conversion at the Option of the Holder Clause in Contracts

Conversion at the Option of the Holder. (a) Subject to applicable law and the terms and provisions hereof, each Holder will have the right, at its option, on each Series AR Conversion Date, to convert all, or any part of, the then outstanding Series AR Preferred Shares registered in the name of the Holder into Cumulative Redeemable First Preferred Shares, Series AQ of the Corporation (the “Series AQ Preferred Shares”) on the basis of one (1) Series AQ Preferred Share for each Series AR Preferred Share converted. The Corporation shall provide written notice not less than thirty (30) and not more than sixty (60) days prior to the applicable Series AR Conversion Date to the Holders of the conversion privilege provided for herein (the “Conversion Privilege”). Such notice shall (i) set out the Series AR Conversion Date, and (ii) include instructions to such Holders as to the method by which such Conversion Privilege may be exercised, as described in Section 4.3. On the 30th day prior to each Series AR Conversion Date, the Corporation will send to the Holders written notice of the Floating Quarterly Dividend Rate applicable to the Series AR Preferred Shares for the next succeeding Quarterly Floating Rate Period and the Annual Fixed Dividend Rate applicable to the Series AQ Preferred Shares for the next succeeding Subsequent Fixed Rate Period, in each case as determined by the Corporation.

Conversion at the Option of the Holder. (a) Subject to applicable law and the terms and provisions hereof, each Holder will have the right, at its option, on each Series AR AM Conversion Date, to convert all, or any part of, the then outstanding Series AR AM Preferred Shares registered in the name of the Holder into Cumulative Redeemable First Preferred Shares, Series AQ AN of the Corporation (the “Series AQ AN Preferred Shares”) on the basis of one (1) Series AQ AN Preferred Share for each Series AR AM Preferred Share converted. The Corporation shall provide written notice not less than thirty (30) and not more than sixty (60) days prior to the applicable Series AR AM Conversion Date to the Holders of the conversion privilege provided for herein (the “Conversion Privilege”). Such notice shall (i) set out the Series AR AM Conversion Date, and (ii) include instructions to such Holders as to the method by which such Conversion Privilege may be exercised, as described in Section 4.3. On the 30th day prior to each Series AR AM Conversion Date, the Corporation will send to the Holders written notice of the Annual Fixed Dividend Rate applicable to the Series AM Preferred Shares for the next succeeding Subsequent Fixed Rate Period and the Floating Quarterly Dividend Rate applicable to the Series AR AN Preferred Shares for the next succeeding Quarterly Floating Rate Period and the Annual Fixed Dividend Rate applicable to the Series AQ Preferred Shares for the next succeeding Subsequent Fixed Rate Period, in each case as determined by the Corporation.

Conversion at the Option of the Holder. (a) Subject to applicable law and the terms and provisions hereof, each Holder will have the right, at its option, on each Series AR AQ Conversion Date, to convert all, or any part of, the then outstanding Series AR AQ Preferred Shares registered in the name of the Holder into Cumulative Redeemable First Preferred Shares, Series AQ AR of the Corporation (the “Series AQ AR Preferred Shares”) on the basis of one (1) Series AQ AR Preferred Share for each Series AR AQ Preferred Share converted. The Corporation shall provide written notice not less than thirty (30) and not more than sixty (60) days prior to the applicable Series AR AQ Conversion Date to the Holders of the conversion privilege provided for herein (the “Conversion Privilege”). Such notice shall (i) set out the Series AR AQ Conversion Date, and (ii) include instructions to such Holders as to the method by which such Conversion Privilege may be exercised, as described in Section 4.3. On the 30th day prior to each Series AR AQ Conversion Date, the Corporation will send to the Holders written notice of the Annual Fixed Dividend Rate applicable to the Series AQ Preferred Shares for the next succeeding Subsequent Fixed Rate Period and the Floating Quarterly Dividend Rate applicable to the Series AR Preferred Shares for the next succeeding Quarterly Floating Rate Period and the Annual Fixed Dividend Rate applicable to the Series AQ Preferred Shares for the next succeeding Subsequent Fixed Rate Period, in each case as determined by the Corporation.

Conversion at the Option of the Holder. (a) Subject to applicable law and the terms and provisions hereof, each Holder will have the right, at its option, on each Series AR AO Conversion Date, to convert all, or any part of, the then outstanding Series AR AO Preferred Shares registered in the name of the Holder into Cumulative Redeemable First Preferred Shares, Series AQ AP of the Corporation (the “Series AQ AP Preferred Shares”) on the basis of one (1) Series AQ AP Preferred Share for each Series AR AO Preferred Share converted. The Corporation shall provide written notice not less than thirty (30) and not more than sixty (60) days prior to the applicable Series AR AO Conversion Date to the Holders of the conversion privilege provided for herein (the “Conversion Privilege”). Such notice shall (i) set out the Series AR AO Conversion Date, and (ii) include instructions to such Holders as to the method by which such Conversion Privilege may be exercised, as described in Section 4.3. On the 30th day prior to each Series AR AO Conversion Date, the Corporation will send to the Holders written notice of the Annual Fixed Dividend Rate applicable to the Series AO Preferred Shares for the next succeeding Subsequent Fixed Rate Period and the Floating Quarterly Dividend Rate applicable to the Series AR AP Preferred Shares for the next succeeding Quarterly Floating Rate Period and the Annual Fixed Dividend Rate applicable to the Series AQ Preferred Shares for the next succeeding Subsequent Fixed Rate Period, in each case as determined by the Corporation.

Conversion at the Option of the Holder. (a) Subject to applicable law and the terms and provisions hereof, each Holder will have the right, at its option, on each Series AR AN Conversion Date, to convert all, or any part of, the then outstanding Series AR AN Preferred Shares registered in the name of the Holder into Cumulative Redeemable First Preferred Shares, Series AQ AM of the Corporation (the “Series AQ AM Preferred Shares”) on the basis of one (1) Series AQ AM Preferred Share for each Series AR AN Preferred Share converted. The Corporation shall provide written notice not less than thirty (30) and not more than sixty (60) days prior to the applicable Series AR AN Conversion Date to the Holders of the conversion privilege provided for herein (the “Conversion Privilege”). Such notice shall (i) set out the Series AR AN Conversion Date, and (ii) include instructions to such Holders as to the method by which such Conversion Privilege may be exercised, as described in Section 4.3. On the 30th day prior to each Series AR AN Conversion Date, the Corporation will send to the Holders written notice of the Floating Quarterly Dividend Rate applicable to the Series AR AN Preferred Shares for the next succeeding Quarterly Floating Rate Period and the Annual Fixed Dividend Rate applicable to the Series AQ AM Preferred Shares for the next succeeding Subsequent Fixed Rate Period, in each case as determined by the Corporation.

Conversion at the Option of the Holder. (a) Subject to applicable law and the terms and provisions hereof, each Holder will have the right, at its option, on each Series AR AP Conversion Date, to convert all, or any part of, the then outstanding Series AR AP Preferred Shares registered in the name of the Holder into Cumulative Redeemable First Preferred Shares, Series AQ AO of the Corporation (the “Series AQ AO Preferred Shares”) on the basis of one (1) Series AQ AO Preferred Share for each Series AR AP Preferred Share converted. The Corporation shall provide written notice not less than thirty (30) and not more than sixty (60) days prior to the applicable Series AR AP Conversion Date to the Holders of the conversion privilege provided for herein (the “Conversion Privilege”). Such notice shall (i) set out the Series AR AP Conversion Date, and (ii) include instructions to such Holders as to the method by which such Conversion Privilege may be exercised, as described in Section 4.3. On the 30th day prior to each Series AR AP Conversion Date, the Corporation will send to the Holders written notice of the Floating Quarterly Dividend Rate applicable to the Series AR AP Preferred Shares for the next succeeding Quarterly Floating Rate Period and the Annual Fixed Dividend Rate applicable to the Series AQ AO Preferred Shares for the next succeeding Subsequent Fixed Rate Period, in each case as determined by the Corporation.