Common use of Registered Plans Clause in Contracts

Registered Plans. Some of the payments under the Plan will be payable to tax-deferred registered plans (such as registered retirement savings plans, registered retirement income funds or registered educational savings plans). The Company will make payments in respect of such plans to the annuitant or beneficial owner of such plans, as opposed to the plan itself. Collective Investors Where unitholders of Collective Investors are treated as Affected Investors under the Plan, the Company will make payments or make arrangements (subject to the de minimis principles described in Part IV) for payment by sending a cheque to each such unitholder at the last address of such unitholder on its books and records or the address provided by the representatives of the Collective Investor. Such payments may be made at a later time than payments made to direct investors in the Affected Funds due to the additional administrative steps involved in the Company co-ordinating payments with the Collective Investor. The Company anticipates that such payments will be made no more than 90 days after the Company has received all information from the Collective Investor in a form reasonably acceptable to the Company to permit the calculation of the amounts to be paid to the unitholders of the Collective Investor. If the Company does not receive such information by September 30, 2005, the Company will treat the Collective Investor as the Affected Investor and there will be no “look- through” to the underlying investors in that Collective Investor. Where de minimis principles apply to Collective Investors, the Company will make payments to the Collective Investor by cheque or electronic fund transfer. Payments to any Collective Investors that have been merged or reorganized into another entity since the time of the relevant trades will be made to the appropriate successor entity. If there is no successor entity, then the payment will be treated as an uncashed cheque or electronic fund transfer not completed and treated as described in Part V.