Common use of Held by Trustee Clause in Contracts

Held by Trustee. Any monies, securities, documents of title or other instruments that may at any time be held by the Special Warrant Agent subject to the trusts hereof may be placed in the deposit vaults of the Special Warrant Agent or of any Canadian chartered bank listed in Schedule 1 to the Bank Act (Canada) or of any trust company registered to do business in Canada or deposited for safekeeping with any such bank or trust company. Unless herein otherwise expressly provided, any monies so held pending the application or withdrawal thereof under any provisions of this Indenture upon the written direction of the Corporation will be or, with the consent of the Corporation may be: (i) deposited in the name of the Special Warrant Agent in any Canadian chartered bank listed in Schedule 1 to the Bank Act (Canada) or any trust company registered to do business in Canada at the rate of interest (if any) then current on similar deposits; or (ii) invested in treasury bills or short term interest bearing or discounted obligations issued or guaranteed by the Government of Canada or a province thereof, of any Canadian chartered bank listed in Schedule 1 of the Bank Act (Canada), provided that the securities will not have a maturity date of more than ninety (90) days from the date of investment. Unless the Corporation will be in default hereunder or unless otherwise specifically provided herein, all interest or other income received by the Special Warrant Agent in respect of such deposits and investments will belong to the Corporation. In the event that the Special Warrant Agent has not received direction from the Corporation prior to 9:00 a.m. (Vancouver time) on the date that any investment made in accordance with this Section 9.5 matures, comes due or is otherwise required to be reinvested, the Special Warrant Agent will be authorized to reinvest such funds in an overnight investment until such time that the Special Warrant Agent receives direction from the Corporation.

Held by Trustee. Any monies, securities, documents of title or other instruments that may at any time be held by the Special Warrant Agent Trustee subject to the trusts hereof may be placed in the deposit vaults in the Province of Ontario of the Special Warrant Agent Trustee or of any Canadian chartered bank listed in Schedule 1 to (a "QUALIFIED INSTITUTION"), including, without limitation, the Canadian Imperial Bank Act (Canada) or of any trust company registered to do business in Canada Commerce, or deposited for safekeeping in the Province of Ontario with any such bank or trust companybank. Unless herein otherwise expressly provided, any monies moneys so held held, pending the application or withdrawal thereof under any provisions provision of this Indenture upon the written direction of the Corporation will Indenture, may be or, with the consent of the Corporation may be: (i) deposited in the name of the Special Warrant Agent Trustee in any Canadian chartered bank listed in Schedule 1 to the Bank Act (Canada) or any trust company registered to do business in Canada at the rate of interest (if any) then current on similar deposits; deposits or, (i) with the consent of the Corporation, may be deposited in the deposit department of the Trustee or any other loan or trust corporation authorized to accept deposits under the laws of Canada or a province thereof, or (ii) invested at the written direction of the Corporation, the Trustee shall invest or reinvest such monies in treasury bills or short term interest bearing or discounted discount debt obligations issued or guaranteed by the Government of Canada or any province thereof or a province thereof, of any Canadian chartered bank listed in Schedule 1 (which may include an Affiliate or related party of the Bank Act (CanadaTrustee), provided that the securities will maturing not have a maturity date of more than ninety (90) days one year from the date of investment, provided that each such obligation is rated at least R1 (middle) by DBRS Inc. or any equivalent rating by Canadian Bond Rating Service (an "AUTHORIZED INVESTMENTS"). Unless Any direction by the Corporation will to the Trustee as to 72 -66- investment or reinvestment of funds shall be in default hereunder writing and shall be provided to the Trustee no later than 9:00 a.m. (local time) on the day on which the investment is to be made. Any such direction received after 9:00 a.m. (local time) or unless otherwise specifically provided hereinreceived on a non-Business Day, all shall be deemed to have been given prior to 9:00 a.m. (local time) the immediately following Business Day. If no such direction is received, the Trustee shall not have any obligation to invest the monies in Authorized Investments and pending receipt of such a direction shall be entitled to hold such monies uninvested in a trust account. The Trustee shall not be held liable for any losses incurred in the investment of any funds in Authorized Investments. All interest or other income received by the Special Warrant Agent Trustee in respect of such deposits and investments will shall belong to the Corporation. In the event that the Special Warrant Agent has not received direction from Corporation and shall be remitted to the Corporation prior to 9:00 a.m. (Vancouver time) on upon request five years from Maturity Date, unless an Event of Default shall have occurred and be continuing, in which case all such interest and income shall be held by the date that any investment made Trustee and applied in accordance with this Section 9.5 matures, comes due or is otherwise required to be reinvested, the Special Warrant Agent will be authorized to reinvest such funds in an overnight investment until such time that the Special Warrant Agent receives direction from the Corporation9.5.

Held by Trustee. Any moniessecurities, securitiesmoneys, documents of title or other instruments that may at any time be held by the Special Warrant Agent Trustee subject to the trusts hereof may be placed in the deposit vaults vaults; of the Special Warrant Agent Trustee or of the Bank or of any other Canadian chartered bank listed in Schedule 1 to the Bank Act (Canada) or of any trust company registered to do business in Canada or deposited for safekeeping with any such bank bank. Pending the application or trust company. Unless withdrawal of any moneys so held under any provision of this Trust Indenture, the Trustee, unless it is herein otherwise expressly provided, any monies so held pending may deposit the application or withdrawal thereof under any provisions of this Indenture upon same in the written direction name of the Corporation will be Trustee in the Bank or in any other Canadian chartered bank at the rate of interest, if any, then current on similar deposits or, with the consent Bank, may deposit such moneys in the deposit department of the Corporation may be: (i) deposited in the name of the Special Warrant Agent in any Canadian chartered bank listed in Schedule 1 to the Bank Act (Canada) Trustee or any other loan or trust company registered authorized to do business in accept deposits under the laws of Canada or a province thereof at the a rate of interest (if any) then current on similar deposits; , or (ii) invested invest such moneys in treasury bills or short term interest bearing or discounted obligations issued or guaranteed by the Government of Canada or a province thereofthereof or in obligations, maturing not more than one year from the date of investment, of the Bank or of any other Canadian chartered bank listed or loan or trust company. In respect of moneys held by the Trustee after an Event of Default, all moneys shall be deposited in Schedule 1 the name of the Trustee in a Schedule I Canadian chartered bank, other than the Bank Act at the rate of interest then current on similar deposits or invested in obligations issued or guaranteed by the Government of Canada or any Schedule I Canadian chartered bank (Canada), provided that other than the securities will Bank) maturing not have a maturity date of more than ninety (90) days one year from the date of investment. Unless the Corporation will an Event of Default shall have occurred and be in default hereunder or unless otherwise specifically provided hereincontinuing, all interest or other income received by the Special Warrant Agent Trustee in respect of such deposits and investments will shall be for the account of and belong to the Corporation. In the event Bank provided, however, that the Special Warrant Agent has not received direction from Trustee may apply such interest and other income to pay amounts howsoever payable hereunder (including without limitation the Corporation prior to 9:00 a.m. (Vancouver time) on remuneration and expenses of the date that any investment made in accordance with this Section 9.5 matures, comes due or is otherwise required to be reinvested, the Special Warrant Agent will be authorized to reinvest such funds in an overnight investment until such time that the Special Warrant Agent receives direction from the CorporationTrustee).