Common use of Satisfaction and Discharge of Agreement Clause in Contracts

Satisfaction and Discharge of Agreement. Upon the earlier of: (i) the issue of certificates or DRS Advices representing the Underlying Shares and the Warrant Certificate representing the Warrants and payment of all monies as provided in Section 5.3 upon satisfaction of the Release Conditions; and (ii) the payment of all monies pursuant to Section 5.4(a) hereof upon the occurrence of a Termination Event, this Agreement shall cease to be of any force and effect and the Subscription Receipt Agent, on demand of the Corporation and at the cost and expense of the Corporation and upon delivery to the Subscription Receipt Agent of a certificate of the Corporation stating that all conditions precedent to the satisfaction and discharge of this Agreement have been complied with, shall execute proper instruments acknowledging satisfaction of and discharging this Agreement. Notwithstanding the foregoing, the indemnities provided to the Subscription Receipt Agent by the Corporation hereunder shall remain in full force and effect and survive the termination of this Agreement.

Appears in 5 contracts

Samples: Agreement (1397468 B.C. Ltd.), Agreement (1397468 B.C. Ltd.), Lithium Offtake Agreement (1397468 B.C. Ltd.)

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Satisfaction and Discharge of Agreement. Upon Immediately following the earlier of: date upon which (i) the issue of certificates all Subscription Receipts have been exchanged or DRS Advices representing the Underlying Shares and the Warrant Certificate representing the Warrants and payment of all monies as provided in Section 5.3 upon satisfaction of the Release Conditions; and terminated, (ii) all Escrowed Funds have been distributed to the payment of all monies pursuant appropriate parties as set forth in this Agreement and (iii) certificates representing any Variable Voting Shares required to Section 5.4(a) be issued in compliance with the provisions hereof upon have been issued and delivered in accordance with the occurrence of a Termination Eventprovisions hereof, this Agreement shall cease to be of any force and effect and the Subscription Receipt Agent, on demand of the Corporation and at the cost and expense of the Corporation and upon delivery to the Subscription Receipt Agent of a certificate of the Corporation stating that all conditions precedent to the satisfaction and discharge of this Agreement have been complied with, shall execute proper instruments acknowledging satisfaction of and discharging this Agreement. Notwithstanding the foregoing, the indemnities provided to the Subscription Receipt Agent by the Corporation hereunder shall remain in full force and effect and survive the termination of this Agreement.

Appears in 1 contract

Samples: Subscription Receipt Agreement (Postmedia Network Canada Corp.)

Satisfaction and Discharge of Agreement. Upon Immediately following the earlier of: date upon which (i) the issue of certificates all Subscription Receipts have been deemed exercised or DRS Advices representing the Underlying Shares and the Warrant Certificate representing the Warrants and payment of all monies as provided in Section 5.3 upon satisfaction of the Release Conditions; and terminated, (ii) all Escrowed Funds have been distributed to the payment of all monies pursuant appropriate parties as set forth in this Agreement and (iii) certificates representing any Common Shares required to Section 5.4(a) be issued in compliance with the provisions hereof upon have been issued and delivered in accordance with the occurrence of a Termination Eventprovisions hereof, this Agreement shall cease to be of any force and effect and the Subscription Receipt AgentTrustee, on demand of the Corporation and at the cost and expense of the Corporation and upon delivery to the Subscription Receipt Agent Trustee of a certificate of the Corporation stating that all conditions precedent to the satisfaction and discharge of this Agreement have been complied with, shall execute proper instruments acknowledging satisfaction of and discharging this Agreement. Notwithstanding the foregoing, the indemnities provided to the Subscription Receipt Agent Trustee by the Corporation hereunder shall remain in full force and effect and survive the termination of this Agreement.

Appears in 1 contract

Samples: Subscription Receipt Agreement (Catalyst Paper Corp)

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Satisfaction and Discharge of Agreement. Upon the earlier of: (ia) the issue of certificates or DRS Advices representing the Underlying Common Shares and Common Share Purchase Warrants upon deemed exercise of the Warrant Certificate representing the Warrants Subscription Receipts and payment of all monies as provided in Section 5.3 6.4 upon satisfaction of the Automatic Escrow Release Conditions; and (iib) the payment of all monies pursuant to Section 5.4(a) 6.5 hereof upon the occurrence of a Termination Event, this Agreement shall cease to be of any force and effect and the Subscription Receipt Agent, on written demand of the Corporation Company and at the cost and expense of the Corporation Company and upon delivery to the Subscription Receipt Agent of a certificate of the Corporation Company and the Agent, stating that all conditions precedent to the satisfaction and discharge of this Agreement have been complied with, shall execute proper instruments acknowledging satisfaction of and discharging this Agreement. Notwithstanding the foregoing, the indemnities provided to the Subscription Receipt Agent by the Corporation Company hereunder shall remain in full force and effect and survive the termination of this AgreementAgreement or the resignation or removal of the Subscription Receipt Agent.

Appears in 1 contract

Samples: Receipt Agreement (Adira Energy Ltd.)

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