Common use of Late Issuance Clause in Contracts

Late Issuance. Upon conversion of this Convertible Debenture, in whole or in part, if the Holder does not receive the Common Shares within three (3) trading days after the conversion of this Convertible Debenture (a “Late Issuance”), the Corporation shall pay to the Holder the greater of (i) one thousand dollars (CAD$1,000) per trading day of delay in the delivery of the Common Shares, and (ii) an amount equal to the difference (if positive) between the closing price of the Common Shares four (4) trading days after the conversion of this Convertible Debenture and the closing price of the Common Shares on the trading day immediately prior to the date on which the relevant Common Shares are effectively issued to the Holder, for each new Common Share which was issued upon the relevant conversion of the Debentures. Notwithstanding the foregoing, if, prior to the delivery of the relevant Common Shares to the Holder, an Event of Default occurs of the type described in clause (ii) of the definition thereof and the Holder elects to require the Corporation to immediately to pay in cash all or any of this Convertible Debenture in respect of such Late Issuance in accordance with Section 2.1(b), then the Corporation shall pay to the Holder the amount calculated in accordance with this Section 2.6, up to and including the date the Holder’s notice to the Corporation of its redemption election is to be delivered pursuant to Section 2.1(b) concurrently with the redemption payment for the amount of the Outstanding Principal of this Convertible Debenture so redeemed. The Corporation shall pay any payments incurred under this section in immediately available funds upon demand.

Late Issuance. Upon conversion of this Convertible Debenture, in whole or in part, if the Holder does not receive the Common Shares within three two (32) trading days after the conversion of this Convertible Debenture (a “Late Issuance”), the Corporation shall pay to the Holder the greater of (i) one thousand dollars (CAD$1,000) per trading day of delay in the delivery of the Common Shares, and (ii) an amount equal to the difference (if positive) between the closing price of the Common Shares four three (43) trading days after the conversion of this Convertible Debenture and the closing price of the Common Shares on the trading day immediately prior to the date on which the relevant Common Shares are effectively issued to the Holder, for each new Common Share which was issued upon the relevant conversion of the Debentures. Notwithstanding the foregoing, if, prior to the delivery of the relevant Common Shares to the Holder, an Event of Default occurs of the type described in clause (ii) of the definition thereof and the Holder elects to require the Corporation to immediately to pay in cash all or any of this Convertible Debenture in respect of such Late Issuance in accordance with Section 2.1(b), then the Corporation shall pay to the Holder the amount calculated in accordance with this Section 2.62.5, up to and including the date the Holder’s notice to the Corporation of its redemption election is to be delivered pursuant to Section 2.1(b) concurrently with the redemption payment for the amount of the Outstanding Principal of this Convertible Debenture so redeemed. The Corporation shall pay any payments incurred under this section in immediately available funds upon demand.

Late Issuance. Upon conversion of this Convertible Debenture, in whole the Debentures or in partexercise of the Warrants, if the Holder Investor does not receive the relevant Common Shares within three five (35) trading days after days, in the case of a conversion of this Convertible Debenture the Debentures and within ten (10) trading days, in the case of an exercise of the Warrants (as applicable, a “Late Issuance”), the Corporation shall pay to the Holder Investor the greater of (i) one thousand dollars (CAD$1,000$1,000) per trading day of delay in the delivery of the Common Shares, ; and (ii) an amount equal to the difference (if positive) between the closing price of the Common Shares four six (46) trading days after the date of delivery of the Conversion Notice, in the case of a conversion of this Convertible Debenture the Debentures, or eleven (11) trading days after the date of delivery of the Warrant Exercise Notice, in the case of an exercise of the Warrants, as applicable, and the closing price of the Common Shares on the trading day immediately prior to the date on which the relevant Common Shares are effectively issued to the HolderInvestor, for each new Common Share which was issued upon the relevant conversion of the DebenturesDebentures or the relevant exercise of the Warrants, as applicable. Notwithstanding the foregoing, if, prior to the delivery of the relevant Common Shares to the HolderInvestor, an Event of Default occurs of the type described in clause (ii) of the definition thereof and the Holder Investor elects to require the Corporation to immediately to pay redeem in cash all or any of this Convertible Debenture its Debentures subject to the conversion in respect of such Late Issuance in accordance with Section 2.1(b2.2(d), then the Corporation shall pay to the Holder Investor the amount calculated in accordance with this Section 2.62.2(e), up to and including the date the HolderInvestor’s notice to the Corporation of its redemption election is to be delivered pursuant to Section 2.1(b2.2(d) concurrently with the redemption payment for the amount of the Outstanding Principal of this Convertible Debenture Debentures so redeemed. The Corporation shall pay any payments incurred under this section in immediately available funds upon demand.

Late Issuance. Upon conversion of this Convertible Debenture, in whole or in part, if the Holder does not receive the Common Shares within three five (35) trading days after the conversion of this Convertible Debenture (a “Late Issuance”), the Corporation shall pay to the Holder the greater of (i) one thousand dollars (CAD$1,000US$1,000) per trading day of delay in the delivery of the Common Shares, and (ii) an amount equal to the difference (if positive) between the closing price of the Common Shares four six (46) trading days after the conversion of this Convertible Debenture Conversion Notice date and the closing price of the Common Shares on the trading day immediately prior to the date on which the relevant Common Shares are effectively issued to the Holder, for each new Common Share which was issued upon the relevant conversion of the Debentures. Notwithstanding the foregoing, if, prior to the delivery of the relevant Common Shares to the Holder, an Event of Default occurs of the type described in clause (iib) of the definition thereof and the Holder elects to require the Corporation to immediately to pay redeem in cash all or any of this Convertible Debenture in respect of such Late Issuance in accordance with Section 2.1(b), then the Corporation shall pay to the Holder the amount calculated in accordance with this Section 2.6, up to and including the date the Holder’s notice to the Corporation of its redemption election is to be delivered pursuant to Section 2.1(b) concurrently with the redemption payment for the amount of the Outstanding Principal of this Convertible Debenture so redeemed. The Corporation shall pay any payments incurred under this section in immediately available funds upon demand.

Late Issuance. Upon conversion of this Convertible Debenture, in whole or in part, if the Holder does not receive the Common Shares within three five (35) trading days after the conversion of this Convertible Debenture (a “Late Issuance”), the Corporation shall pay to the Holder the greater of (i) one thousand dollars (CAD$1,000$1,000) per trading day of delay in the delivery of the Common Shares, and (ii) an amount equal to the difference (if positive) between the closing price of the Common Shares four six (46) trading days after the conversion of this Convertible Debenture Conversion Notice date and the closing price of the Common Shares on the trading day immediately prior to the date on which the relevant Common Shares are effectively issued to the Holder, for each new Common Share which was issued upon the relevant conversion of the Debentures. Notwithstanding the foregoing, if, prior to the delivery of the relevant Common Shares to the Holder, an Event of Default occurs of the type described in clause (iib) of the definition thereof and the Holder elects to require the Corporation to immediately to pay redeem in cash all or any of this Convertible Debenture in respect of such Late Issuance in accordance with Section 2.1(b2.1(c)(ii), then the Corporation shall pay to the Holder the amount calculated in accordance with this Section 2.6, up to and including the date the Holder’s notice to the Corporation of its redemption election is to be delivered pursuant to Section 2.1(b2.1(c) concurrently with the redemption payment for the amount of the Outstanding Principal of this Convertible Debenture so redeemed. The Corporation shall pay any payments incurred under this section in immediately available funds upon demand.