Common use of No Requirement to Issue Fractional Shares Clause in Contracts

No Requirement to Issue Fractional Shares. The Corporation shall not be required to issue fractional Shares upon the conversion of Debentures pursuant to this Article. If more than one Debenture shall be surrendered for conversion at one time by the same holder, the number of whole Shares issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of such Debentures to be converted. If any fractional interest in a Share would, except for the provisions of this Section, be deliverable upon the conversion of any principal amount of Debentures, the Corporation shall, in lieu of delivering any certificate representing such fractional interest, make a cash payment to the holder of such Debenture of an amount equal to the fractional interest which would have been issuable multiplied by the Current Market Price on the Date of Conversion of such fractional interest (less applicable withholding taxes, if any).

Appears in 4 contracts

Samples: Trust Indenture (Primero Mining Corp), Convertible Debenture Indenture (Transglobe Energy Corp), Convertible Debenture Indenture (Transglobe Energy Corp)

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No Requirement to Issue Fractional Shares. The Corporation shall not be required to issue fractional Shares upon the conversion of Debentures pursuant to this ArticleArticle or otherwise hereunder. If more than one Debenture shall be surrendered for conversion at one time by the same holder, the number of whole Shares issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of such Debentures to be converted. If any fractional interest in a Share would, except for the provisions of this Section, be deliverable upon the conversion of any principal amount of Debentures, the Corporation shall, in lieu of delivering any certificate representing such fractional interest, make a cash payment to the holder of such Debenture of an amount equal to the fractional interest which would have been issuable multiplied by the Current Market Price on the Date of the Conversion of such fractional interest (less applicable withholding taxes, if anyany taxes required to be deducted in accordance with Section 2.15).

Appears in 2 contracts

Samples: Subordination Agreement (Mogo Inc.), Subordination Agreement (Mogo Finance Technology Inc.)

No Requirement to Issue Fractional Shares. The Corporation shall not be required to issue fractional Shares upon the conversion of Debentures pursuant to this Article. If more than one Debenture shall be surrendered for conversion at one time by the same holder, the number of whole Shares issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of such Debentures to be converted. If any fractional interest in a Share would, except for the provisions of this Section, be deliverable upon the conversion of any principal amount of Debentures, the Corporation shall, in lieu of delivering any certificate representing such fractional interest, make a cash payment to the holder of such Debenture of an amount equal to the fractional interest which would have been issuable multiplied by the Current Market Price on the Date of Conversion of such fractional interest (less applicable withholding taxes, if any)Price.

Appears in 2 contracts

Samples: Kirkland Lake Gold Ltd., Indenture (MDC Partners Inc)

No Requirement to Issue Fractional Shares. β€Œ The Corporation shall not be required to issue fractional Common Shares upon the conversion redemption of Debentures pursuant to this Article. If more than one Debenture shall be surrendered for conversion at one time by the same holder, the The number of whole Common Shares issuable upon conversion redemption thereof shall be computed on the basis of the aggregate principal amount of such any Debentures of a Debentureholder to be convertedredeemed. If any fractional interest in a Common Share would, except for the provisions of this Section, be deliverable upon the conversion redemption of any principal amount of Debentures, the Corporation shall, in lieu of delivering any certificate representing such fractional interest, make a cash payment to the holder of such Debenture of an amount equal to the fractional interest which would have been issuable multiplied by times the Current Market Price on the Date of Conversion of such fractional interest (less applicable withholding taxes, if any)Redemption Price.

Appears in 1 contract

Samples: Trust Indenture

No Requirement to Issue Fractional Shares. The Corporation shall not be required to issue fractional Common Shares upon the conversion of Debentures pursuant to this Article. If more than one Debenture shall be surrendered for conversion at one time by the same holder, the number of whole Common Shares issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of such Debentures to be converted. If any fractional interest in a Common Share would, except for the provisions of this Section, be deliverable upon the conversion of any principal amount of Debentures, the Corporation shall, in lieu of delivering any certificate representing such fractional interest, make a cash payment to the holder of such Debenture of an amount equal to the fractional interest which would have been issuable multiplied by times the Current Market Price on the Date of Conversion of such fractional interest (less applicable withholding taxes, if any)Price.

Appears in 1 contract

Samples: Trust Indenture

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No Requirement to Issue Fractional Shares. The Corporation shall not be required to issue fractional Shares upon the conversion of Debentures Notes pursuant to this Article. If more than one Debenture Note shall be surrendered for conversion at one time by the same holder, the number of whole Shares issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of such Debentures Notes to be converted. If any fractional interest in a Share would, except for the provisions of this Section, be deliverable upon the conversion of any principal amount of DebenturesNotes, the Corporation shall, in lieu of delivering any certificate representing such fractional interest, make a cash payment to the holder of such Debenture Note of an amount equal to the fractional interest which would have been issuable multiplied by the Current Market Price on the Date of Conversion of such fractional interest (less applicable withholding taxes, if any).

Appears in 1 contract

Samples: Trust Indenture (Theratechnologies Inc.)

No Requirement to Issue Fractional Shares. The Corporation shall will not be required to issue fractional Shares upon the conversion of Debentures pursuant to this Article. If more than one Debenture shall be is surrendered for conversion at one time by the same holder, the number of whole Shares issuable upon conversion thereof shall will be computed on the basis of the aggregate principal amount of such Debentures to be converted. If any fractional interest in a Share would, except for the provisions of this Section, be deliverable upon the conversion of any principal amount of Debentures, the Corporation shallmust, in lieu of delivering any certificate representing such fractional interest, make a cash payment to the holder of such Debenture of an amount equal to the fractional interest which would have been issuable multiplied by the Current Market Price of the Shares on the Date of Conversion of such fractional interest (less applicable withholding taxes, if any); provided, however, that the Corporation will not be required to make any payment of less than $10.00.

Appears in 1 contract

Samples: Trust Indenture (Boralex Inc.)

No Requirement to Issue Fractional Shares. The Corporation shall not be required to issue fractional Shares upon the conversion of Debentures pursuant to this ArticleArticle or otherwise hereunder. If more than one Debenture shall be surrendered for conversion at one time by the same holder, the number of whole Shares issuable upon conversion thereof shall be computed on the basis of the aggregate principal amount of such Debentures to be converted. If any fractional interest in a Share would, except for the provisions of this Section, be deliverable upon the conversion of any principal amount of Debentures, the Corporation shall, in lieu of delivering any certificate representing such fractional interest, make a cash payment to the holder of such Debenture of an amount equal to the fractional interest which would have been issuable multiplied by the Current Market Price on the Date of the Conversion of such fractional interest (less applicable withholding taxes, if anyany taxes required to be deducted in accordance with Section 2.12).

Appears in 1 contract

Samples: Convertible Debenture Indenture

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