Common use of Exercise of Exchange Right Subsequent to Retraction Clause in Contracts

Exercise of Exchange Right Subsequent to Retraction. In the event that the Exchangeable Shareholder has exercised his right under Article 6 of the Exchangeable Share Provisions to require the Corporation to redeem any or all of the Exchangeable Shares held by the Exchangeable Shareholder (the “Retracted Shares”) and is notified by the Corporation pursuant to section 6.6 of the Exchangeable Share Provisions that the Corporation will not be permitted as a result of solvency requirements of applicable law to redeem all such Retracted Shares, and provided that CallCo shall not have exercised the Retraction Call Right with respect to the Retracted Shares and that the Exchangeable Shareholder has not revoked the retraction request delivered by the Exchangeable Shareholder to the Corporation pursuant to section 6.1 of the Exchangeable Share Provisions, the retraction request will constitute and will be deemed to constitute notice from the Exchangeable Shareholder to Parent exercising the Exchange Right with respect to those Retracted Shares that the Corporation is unable to redeem.

Exercise of Exchange Right Subsequent to Retraction. In the event that the Exchangeable Shareholder a Beneficiary has exercised his its retraction right under Article Section 6 of the Exchangeable Share Provisions to require the Corporation Company to redeem any or all of the Exchangeable Shares held by the Exchangeable Shareholder Beneficiary (the “Retracted Shares”) and is notified by the Corporation Company pursuant to section 6.6 Section 6(a)(iii) of the Exchangeable Share Provisions that the Corporation Company will not be permitted as a result of solvency requirements of applicable law Law to redeem all such Retracted Shares, and provided that CallCo neither Parent nor Callco shall not have exercised the its Retraction Call Right with respect to the Retracted Shares and that the Exchangeable Shareholder has Beneficiary shall not have revoked the retraction request delivered by the Exchangeable Shareholder Beneficiary to the Corporation Company pursuant to section 6.1 Section 6(a)(iv) of the Exchangeable Share Provisions, the retraction request will constitute and will be deemed to constitute notice from the Exchangeable Shareholder Beneficiary to Parent exercising the Company instructing the Company to exercise the Exchange Right with respect to those Retracted Shares that the Corporation Company is unable to redeem.

Exercise of Exchange Right Subsequent to Retraction. In the event that the Exchangeable Shareholder a Beneficiary has exercised his its retraction right under Article 6 Section 26.6(a) of the Exchangeable Share Provisions to require the Corporation ExchangeCo to redeem any or all of the Exchangeable Shares held by the Exchangeable Shareholder Beneficiary (the “Retracted Shares”) and is notified by the Corporation ExchangeCo pursuant to section 6.6 Section 26.6(a)(iii) of the Exchangeable Share Provisions that the Corporation ExchangeCo will not be permitted as a result of solvency requirements of applicable law to redeem all such Retracted Shares, subject to receipt by the Share Trustee of written notice to that effect from ExchangeCo, and provided that CallCo shall has not have exercised the its Retraction Call Right with respect to the Retracted Shares and that the Exchangeable Shareholder has Beneficiary shall not have revoked the retraction request delivered by the Exchangeable Shareholder Beneficiary to the Corporation ExchangeCo pursuant to section 6.1 Section 26.6(a)(iv) of the Exchangeable Share Provisions, the retraction request will constitute and will be deemed to constitute notice from the Exchangeable Shareholder Beneficiary to Parent exercising the Share Trustee instructing the Share Trustee to exercise the Exchange Right with respect to those Retracted Shares that the Corporation ExchangeCo is unable to redeem.to

Exercise of Exchange Right Subsequent to Retraction. In the event that the Exchangeable Shareholder a Beneficiary has exercised his its retraction right under Article 6 Part 2 Section 1.7 of the Exchangeable Share Provisions to require the Corporation Company to redeem any or all of the Exchangeable Shares held by the Exchangeable Shareholder Beneficiary (the “Retracted Shares”) and is notified by the Corporation Company pursuant to section 6.6 Part 2 Section 1.7(a)(iii) of the Exchangeable Share Provisions that the Corporation Company will not be permitted as a result of solvency requirements of applicable law Law to redeem all such Retracted Shares, and provided that CallCo neither Parent nor Callco shall not have exercised the its Retraction Call Right with respect to the Retracted Shares and that the Exchangeable Shareholder has Beneficiary shall not have revoked the retraction request delivered by the Exchangeable Shareholder Beneficiary to the Corporation Company pursuant to section 6.1 Part 2 Section 1.7(a)(iv) of the Exchangeable Share Provisions, the retraction request will constitute and will be deemed to constitute notice from the Exchangeable Shareholder Beneficiary to Parent exercising the Company instructing the Company to exercise the Exchange Right with respect to those Retracted Shares that the Corporation Company is unable to redeem.

Exercise of Exchange Right Subsequent to Retraction. In the event that the Exchangeable Shareholder a Holder has exercised his right its rights under Article 6 of the Exchangeable Share Provisions to require the Corporation to redeem any or all of the Exchangeable Shares held by the Exchangeable Shareholder Holder (the “"Retracted Shares”") and is notified by the Corporation pursuant to section 6.6 Section 6.4 of the Exchangeable Share Provisions that the Corporation will not be permitted as a result of solvency requirements of applicable law to redeem all such Retracted Shares, and provided that CallCo PASW (either directly or indirectly through one or more of its Permitted Subsidiaries) shall not have exercised the Retraction Call Right with respect to the Retracted Shares and that the Exchangeable Shareholder Holder has not revoked the retraction request delivered by the Exchangeable Shareholder Holder to the Corporation pursuant to section Section 6.1 of the Exchangeable Share Provisions, the retraction request will constitute and will be deemed to constitute notice from the Exchangeable Shareholder to Parent exercising Holder of the exercise of the Exchange Right with respect to those Retracted Shares that the which Corporation is unable to redeem. In any such event, Corporation hereby agrees to immediately notify the Holder of such prohibition against Corporation redeeming all of the Retracted Shares.