UNDERWRITING AGREEMENTUnderwriting Agreement • March 4th, 2016 • Algonquin Power & Utilities Corp. • Electric services • Ontario
The Convertible Debentures will be dated as of the Closing Date and will mature on March 31, 2026. The Convertible Debentures will bear interest at an annual rate of 5.00% per $1,000 principal amount and will be payable quarterly on the fifteenth day of March, June, September and December of each year (or the next Business Day if the fifteenth falls on a weekend or holiday). The first interest payment will be made on June 15, 2016 in the amount of $14.5205 per $1,000 principal amount of Convertible Debentures and will include interest payable from and including March 1, 2016. Subsequently quarterly interest payments will be in the amount of $12.50 per $1,000 principal amount of Convertible Debentures. Following the Final Instalment Date (as defined in this Agreement), interest will cease to accrue on Convertible Debentures. At the option of the holder who duly pays the Final Instalment on or before the Final Instalment Date, each Convertible Debenture will be convertible into Common Sh
