Common use of General Exercise Clause in Contracts

General Exercise. In the event that the Warrantholder desires to exercise Vested Warrants to purchase Common Shares conferred hereby, the Warrantholder shall (a) complete and execute a subscription form in the form attached as Schedule A to this Warrant Certificate, (b) surrender this Warrant Certificate to the Corporation in accordance with section 8 hereof, and (c) pay the amount payable on the exercise of such Vested Warrants in respect of the Common Shares subscribed for by certified cheque, bank draft or money order in lawful money of Canada, as the case may be, payable to the Corporation or by transmitting same day funds in lawful money of Canada by wire to such account as the Corporation shall direct the Warrantholder or indicate that the exercise is a cashless exercise as provided in subsection 1(d) hereof. Upon such surrender and payment (if required) as aforesaid, the Warrantholder shall be deemed for all purposes to be the holder of record of the number of Common Shares to be so issued and the Warrantholder shall be entitled to delivery of a certificate or certificates representing such Common Shares and the Corporation shall cause such certificate or certificates to be delivered to the Warrantholder at the address specified in the subscription form within three business days after such surrender and payment as aforesaid. No fractional Common Shares will be issuable upon any exercise of the Vested Warrants and the Warrantholder will not be entitled to any cash payment or compensation in lieu of a fractional Common Share.