Common use of Effective Application Clause in Contracts

Effective Application. This agreement will restate and supercede the 2007 Agreement only commencing as of the Effective Time of the Conversion and, notwithstanding the date of this agreement, the Parties acknowledge and agree that the respective entitlements and obligations of the Parties under the 2007 Agreement are intended to remain effective until the Effective Time for the Conversion. The Parties agree that this agreement will so restate and supercede the 2007 Agreement commencing at the Effective Time of the Conversion without any further act or instrument whatsoever; provided that the Conversion has been completed, in all material respects, in the manner contemplated in the Public Fund’s management information circular prepared in respect of the annual and special meeting of the Public Fund’s unitholders held on May 13, 2010.

Effective Application. This agreement Agreement will restate and supercede the 2007 Original Agreement only commencing as of the Effective Time of the Conversion and, notwithstanding the date of this agreementAgreement, the Parties acknowledge and agree that the respective entitlements and obligations of the Parties under the 2007 Original Agreement are intended to remain effective until the Effective Time for the Conversion. The Parties agree that this agreement Agreement will so restate and supercede the 2007 Original Agreement commencing at the Effective Time of the Conversion without any further act or instrument whatsoever; provided that the Conversion has been completed, in all material respects, in the manner contemplated in the Public Fund’s management information circular prepared in respect of the annual and special meeting of the Public Fund’s unitholders held on May 13, 2010.