Common use of Purchase for Cancellation Clause in Contracts

Purchase for Cancellation. 5. The Corporation may, at any time and from time to time on or after the date that is ten years after the Closing Date, subject to the provisions of the Canada Business Corporations Act, and the provisions below under “Redemption” and “Restrictions on Payment of Dividends and Reduction of Junior Capital”, purchase for cancellation (if obtainable), in the manner provided in the First Preferred Shares Class Provisions, the whole or any part of the Exchange Preferred Shares, Series 2017-A outstanding from time to time at any price.

Appears in 2 contracts

Samples: Share Exchange Agreement (TransCanada Trust), Share Exchange Agreement (Transcanada Pipelines LTD)

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Purchase for Cancellation. 5. The Corporation may, at any time and from time to time on or after the date that is ten years after the Closing Date, subject to the provisions of the Canada Business Corporations Act, and the provisions below under “Redemption” and “Restrictions on Payment of Dividends and Reduction of Junior Capital”, purchase for cancellation (if obtainable), in the manner provided in the First Preferred Shares Class Provisions, the whole or any part of the Exchange Preferred Shares, Series 20172019-A outstanding from time to time at any price.

Appears in 2 contracts

Samples: Share Exchange Agreement (TransCanada Trust), Share Exchange Agreement (Transcanada Pipelines LTD)

Purchase for Cancellation. 5. The Corporation may, at any time and from time to time on or after the date that is ten years after the Closing Date, subject to the provisions of the Canada Business Corporations Act, and the provisions below under “Redemption” and “Restrictions on Payment of Dividends and Reduction of Junior Capital”, purchase for cancellation (if obtainable), in the manner provided in the First Preferred Shares Class Provisions, the whole or any part of the Exchange Preferred Shares, Series 20172016-A outstanding from time to time at any price.

Appears in 2 contracts

Samples: Share Exchange Agreement (Transcanada Pipelines LTD), Share Exchange Agreement (TransCanada Trust)

Purchase for Cancellation. 5. The Corporation may, at any time and from time to time on or after the date that is ten years after the Closing Date, subject to the provisions of the Canada Business Corporations Act, and the provisions below under "Redemption" and "Restrictions on Payment of Dividends and Reduction of Junior Capital", purchase for cancellation (if obtainable), in the manner provided in the First Preferred Shares Class Provisions, the whole or any part of the Exchange Preferred Shares, Series 20172022-A outstanding from time to time at any price.

Appears in 1 contract

Samples: Share Exchange Agreement (TransCanada Trust)

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Purchase for Cancellation. 5. The Corporation may, at any time and from time to time on or after the date that is ten years after the Closing Date, subject to the provisions of the Canada Business Corporations Act, and the provisions below under “Redemption” and “Restrictions on Payment of Dividends and Reduction of Junior Capital”, purchase for cancellation (if obtainable), in the manner provided in the First Preferred Shares Class Provisions, the whole or any part of the Exchange Preferred Shares, Series 20172015-A outstanding from time to time at any price.

Appears in 1 contract

Samples: Share Exchange Agreement (TransCanada Trust)

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