Common use of Method of Redemption Clause in Contracts

Method of Redemption. The Company shall give notice in writing not less than 30 days nor more than 60 days prior to the date on which the redemption is to take place of its intention to redeem such Series 2 Senior Preferred Shares to each person who at the date of giving such notice is the Series 2 Shareholder of Series 2 Senior Preferred Shares to be redeemed. Any such notice shall be validly and effectively given on the date on which it is sent to each Series 2 Shareholder of Series 2 Senior Preferred Shares to be redeemed in the manner provided for in Section 11. Such notice shall set out the number of such Series 2 Senior Preferred Shares held by the person to whom it is addressed which are to be redeemed and the Redemption Price and shall also set out the date on which the redemption is to take place. On and after the date so specified for redemption, the Company shall pay or cause to be paid to the Series 2 Shareholders to be redeemed the Redemption Price (less any tax required to be deducted and withheld by the Company) on presentation and surrender, at any place within Canada designated by such notice, of the certificate or certificates for such Series 2 Senior Preferred Shares so called for redemption. Payment shall be made by either (i) wire or electronic transfer in lawful money of Canada for the amount of the Redemption Price (less any tax required to be and in fact deducted and withheld by the Company and remitted to the proper taxing authority) (ii) cheque in the amount of the Redemption Price (less any tax required to be and in fact deducted and withheld by the Company and remitted to the proper taxing authority) payable at par at any branch in Canada of the Company’s bankers for the time being or (iii) any other reasonable means that the Company deems desirable. The making of a payment by way of a wire or electronic transfer of funds or the delivery of such cheque, as applicable, shall be a full and complete discharge of the Company’s obligation to pay the Redemption Price owed to the Series 2 Shareholders of Series 2 Senior Preferred Shares so called for redemption to the extent of the sum represented thereby (plus the amount of any tax required to be and in fact deducted and withheld by the Company and remitted to the proper taxing authority) unless the cheque is not honoured when presented for payment. From and after the date specified in any such notice, the Series 2 Senior Preferred Shares called for redemption shall cease to be entitled to Series 2 Dividends and the Series 2 Shareholders thereof shall not be entitled to exercise any of the rights of shareholders in respect thereof, except to receive the Redemption Price therefor (less any tax required to be deducted and withheld by the Company), unless payment of the Redemption Price shall not be duly made by the Company. At any time after notice of redemption is given as aforesaid, the Company shall have the right to deposit the Redemption Price of any or all Series 2 Senior Preferred Shares called for redemption (less any tax required to be deducted and withheld by the Company), or such part thereof as at the time of deposit has not been claimed by Series 2 Shareholders entitled thereto, with any chartered bank or banks or with any trust company or trust companies in Canada named in the notice of redemption to the credit of a special account or accounts in trust for the respective Series 2 Shareholders of such shares, to be paid to them respectively upon surrender to such bank or banks or trust company or trust companies of the certificate or certificates representing the same. Upon such deposit or deposits being made, such shares shall be redeemed on the redemption date specified in the notice of redemption (the “Redemption Date”). After the Company has made a deposit of cash as aforesaid with respect to any shares, the Series 2 Shareholders thereof shall not, from and after the Redemption Date, be entitled to exercise any of the rights of shareholders in respect thereof and the rights of the Series 2 Shareholders thereof shall be limited to receiving a proportion of the amounts so deposited applicable to such shares, without interest. Any interest allowed on such deposit shall belong to the Company. Subject to applicable law, redemption monies that are represented by a cheque which has not been presented to the Company’s bankers for payment or that otherwise remain unclaimed (including monies held in deposit as provided for above) for a period of six years from the date specified for redemption shall be forfeited to the Company. The Company cannot exercise its redemption rights hereunder in respect of any Series 2 Senior Preferred Shares that have been surrendered for retraction under Section 3.

Appears in 1 contract

Samples: Arrangement Agreement (Brookfield Office Properties Inc)

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Method of Redemption. The Company Corporation shall give notice in writing writing, not less than 30 thirty (30) days nor more than 60 sixty (60) days prior to the date on which the fixed for redemption of any Series AQ Preferred Shares, that it is to take place of its intention to redeem such redeeming Series 2 Senior AQ Preferred Shares pursuant to Section 3.1 hereof to each person who at the date of giving such notice is the Series 2 Shareholder Holder of Series 2 Senior AQ Preferred Shares to be redeemed. Any such notice shall be validly and effectively given on the date on which it is sent to each Series 2 Shareholder Holder of Series 2 Senior AQ Preferred Shares to be redeemed in the manner provided for in Section 1113. Such notice shall set out the number of such Series 2 Senior AQ Preferred Shares held by the person to whom it is addressed which are to be redeemed and the Redemption Price and shall also set out the date on which the redemption is to take place. On and after the date so specified for redemption, the Company Corporation shall pay or cause to be paid to the Series 2 Shareholders to be redeemed applicable Holders the Redemption Price (less any tax required to be deducted and withheld by the CompanyCorporation) on presentation and surrender, at any place within Canada designated by such notice, of the certificate or certificates for such Series 2 Senior AQ Preferred Shares so called for redemption, if any, subject to the provisions of Section 15. Payment Such payment shall be made by either (i) wire electronic funds transfer or electronic transfer in lawful money of Canada for the amount of the Redemption Price (less any tax required to be and in fact deducted and withheld by the Company and remitted to the proper taxing authority) (ii) cheque in the amount of the Redemption Price (less any tax required to be and in fact deducted and withheld by the Company and remitted to the proper taxing authorityCorporation) payable at par at any branch in Canada of the CompanyCorporation’s bankers for the time being or (iii) by any other reasonable means that the Company Corporation deems desirable. The desirable and the making of a such payment by way of a wire or electronic transfer of funds or the delivery of such cheque, as applicable, cheque in such amount shall be a full and complete discharge of the CompanyCorporation’s obligation to pay the Redemption Price owed to the Series 2 Shareholders Holders of Series 2 Senior AQ Preferred Shares so called for redemption to the extent of the sum represented thereby (plus the amount of any tax required to be and in fact deducted and withheld by the Company Corporation and remitted to the proper taxing authority) ), unless the cheque is not honoured when presented for payment. From and after the date specified in any such notice, the Series 2 Senior AQ Preferred Shares called for redemption shall cease to be entitled to receive Series 2 AQ Dividends and the Series 2 Shareholders Holders thereof shall not be entitled to exercise any of the rights of shareholders in respect thereof, except to receive the Redemption Price therefor (less any tax required to be deducted and withheld by the CompanyCorporation), unless payment of the Redemption Price shall not be duly made by or on behalf of the CompanyCorporation. At any time after notice of redemption is given as aforesaid, the Company Corporation shall have the right to deposit the Redemption Price of any or all Series 2 Senior AQ Preferred Shares called for redemption (less any tax required to be deducted and withheld by the CompanyCorporation), or such part thereof as at the time of deposit has not been claimed by Series 2 Shareholders the Holders entitled thereto, with any chartered bank or banks or with any trust company or trust companies in Canada named in the notice of redemption to the credit of a special account or accounts in trust for the respective Series 2 Shareholders Holders of such shares, to be paid to them respectively upon surrender to such bank or banks or trust company or trust companies of the certificate or certificates representing the same, if any, subject to the provisions of Section 15. Upon such deposit or deposits being made, such shares shall be redeemed on the redemption date specified in the notice of redemption (the “Redemption Date”)redemption. After the Company Corporation has made a deposit of cash as aforesaid with respect to any sharesthe applicable Series AQ Preferred Shares, the Series 2 Shareholders Holders thereof shall not, from and after the Redemption Dateredemption date, be entitled to exercise any of the rights of shareholders in respect thereof and the rights of the Series 2 Shareholders Holders thereof shall be limited to receiving a proportion of the amounts so deposited applicable to such shares, without interest. Any interest allowed on such deposit shall belong to the CompanyCorporation. Subject to applicable law, redemption monies moneys that are represented by a cheque which has not been presented to the CompanyCorporation’s bankers for payment or that otherwise remain unclaimed (including monies moneys held in deposit as provided for above) for a period of six years from the date specified for redemption shall be forfeited to the Company. The Company cannot exercise its redemption rights hereunder in respect of any Series 2 Senior Preferred Shares that have been surrendered for retraction under Section 3Corporation.

Appears in 1 contract

Samples: Support Agreement (Bce Inc)

Method of Redemption. The Company Corporation shall give notice in writing not less than 30 thirty (30) days nor more than 60 sixty (60) days prior to the date on which the fixed for redemption of any Series AR Preferred Shares, that it is to take place of its intention to redeem such redeeming Series 2 Senior AR Preferred Shares pursuant to Section 3.1 hereof, to each person who at the date of giving such notice is the Series 2 Shareholder Holder of Series 2 Senior AR Preferred Shares to be redeemed. Any such notice shall be validly and effectively given on the date on which it is sent to each Series 2 Shareholder Holder of Series 2 Senior AR Preferred Shares to be redeemed in the manner provided for in Section 1113. Such notice shall set out the number of such Series 2 Senior AR Preferred Shares held by the person to whom it is addressed which are to be redeemed and the Redemption Price and shall also set out the date on which the redemption is to take place. On and after the date so specified for redemption, the Company Corporation shall pay or cause to be paid to the Series 2 Shareholders to be redeemed applicable Holders the Redemption Price (less any tax required to be deducted and withheld by the CompanyCorporation) on presentation and surrender, at any place within Canada designated by such notice, of the certificate or certificates for such Series 2 Senior AR Preferred Shares so called for redemption, if any, subject to the provisions of Section 15. Payment Such payment shall be made by either (i) wire electronic funds transfer or electronic transfer in lawful money of Canada for the amount of the Redemption Price (less any tax required to be and in fact deducted and withheld by the Company and remitted to the proper taxing authority) (ii) cheque in the amount of the Redemption Price (less any tax required to be and in fact deducted and withheld by the Company and remitted to the proper taxing authorityCorporation) payable at par at any branch in Canada of the CompanyCorporation’s bankers for the time being or (iii) by any other reasonable means that the Company Corporation deems desirable. The desirable and the making of a such payment by way of a wire or electronic transfer of funds or the delivery of such cheque, as applicable, cheque in such amount shall be a full and complete discharge of the CompanyCorporation’s obligation to pay the Redemption Price owed to the Series 2 Shareholders Holders of Series 2 Senior AR Preferred Shares so called for redemption to the extent of the sum represented thereby (plus the amount of any tax required to be and in fact deducted and withheld by the Company Corporation and remitted to the proper taxing authority) ); unless the cheque is not honoured when presented for payment. From and after the date specified in any such notice, the Series 2 Senior AR Preferred Shares called for redemption shall cease to be entitled to receive Series 2 AR Dividends and the Series 2 Shareholders Holders thereof shall not be entitled to exercise any of the rights of shareholders in respect thereof, except to receive the Redemption Price therefor (less any tax required to be deducted and withheld by the CompanyCorporation), unless payment of the Redemption Price shall not be duly made by or on behalf of the CompanyCorporation. At any time after notice of redemption is given as aforesaid, the Company Corporation shall have the right to deposit the Redemption Price of any or all Series 2 Senior AR Preferred Shares called for redemption (less any tax required to be deducted and withheld by the CompanyCorporation), or such part thereof as at the time of deposit has not been claimed by Series 2 Shareholders the Holders entitled thereto, with any chartered bank or banks or with any trust company or trust companies in Canada named in the notice of redemption to the credit of a special account or accounts in trust for the respective Series 2 Shareholders Holders of such shares, to be paid to them respectively upon surrender to such bank or banks or trust company or trust companies of the certificate or certificates representing the same, if any, subject to the provisions of Section 15. Upon such deposit or deposits being made, such shares shall be redeemed on the redemption date specified in the notice of redemption (the “Redemption Date”)redemption. After the Company Corporation has made a deposit of cash as aforesaid with respect to any sharesthe applicable Series AR Preferred Shares, the Series 2 Shareholders Holders thereof shall not, from and after the Redemption Dateredemption date, be entitled to exercise any of the rights of shareholders in respect thereof and the rights of the Series 2 Shareholders Holders thereof shall be limited to receiving a proportion of the amounts so deposited applicable to such shares, without interest. Any interest allowed on such deposit shall belong to the CompanyCorporation. Subject to applicable law, redemption monies moneys that are represented by a cheque which has not been presented to the CompanyCorporation’s bankers for payment or that otherwise remain unclaimed (including monies moneys held in deposit as provided for above) for a period of six years from the date specified for redemption shall be forfeited to the Company. The Company cannot exercise its redemption rights hereunder in respect of any Series 2 Senior Preferred Shares that have been surrendered for retraction under Section 3Corporation.

Appears in 1 contract

Samples: Support Agreement (Bce Inc)

Method of Redemption. The Company Corporation shall give notice in writing writing, not less than 30 thirty (30) days nor more than 60 sixty (60) days prior to the date on which the fixed for redemption of any Series AO Preferred Shares, that it is to take place of its intention to redeem such redeeming Series 2 Senior AO Preferred Shares pursuant to Section 3.1 hereof to each person who at the date of giving such notice is the Series 2 Shareholder Holder of Series 2 Senior AO Preferred Shares to be redeemed. Any such notice shall be validly and effectively given on the date on which it is sent to each Series 2 Shareholder Holder of Series 2 Senior AO Preferred Shares to be redeemed in the manner provided for in Section 1113. Such notice shall set out the number of such Series 2 Senior AO Preferred Shares held by the person to whom it is addressed which are to be redeemed and the Redemption Price and shall also set out the date on which the redemption is to take place. On and after the date so specified for redemption, the Company Corporation shall pay or cause to be paid to the Series 2 Shareholders to be redeemed applicable Holders the Redemption Price (less any tax required to be deducted and withheld by the CompanyCorporation) on presentation and surrender, at any place within Canada designated by such notice, of the certificate or certificates for such Series 2 Senior AO Preferred Shares so called for redemption, if any, subject to the provisions of Section 15. Payment Such payment shall be made by either (i) wire electronic funds transfer or electronic transfer in lawful money of Canada for the amount of the Redemption Price (less any tax required to be and in fact deducted and withheld by the Company and remitted to the proper taxing authority) (ii) cheque in the amount of the Redemption Price (less any tax required to be and in fact deducted and withheld by the Company and remitted to the proper taxing authorityCorporation) payable at par at any branch in Canada of the CompanyCorporation’s bankers for the time being or (iii) by any other reasonable means that the Company Corporation deems desirable. The desirable and the making of a such payment by way of a wire or electronic transfer of funds or the delivery of such cheque, as applicable, cheque in such amount shall be a full and complete discharge of the CompanyCorporation’s obligation to pay the Redemption Price owed to the Series 2 Shareholders Holders of Series 2 Senior AO Preferred Shares so called for redemption to the extent of the sum represented thereby (plus the amount of any tax required to be and in fact deducted and withheld by the Company Corporation and remitted to the proper taxing authority) ), unless the cheque is not honoured when presented for payment. From and after the date specified in any such notice, the Series 2 Senior AO Preferred Shares called for redemption shall cease to be entitled to receive Series 2 AO Dividends and the Series 2 Shareholders Holders thereof shall not be entitled to exercise any of the rights of shareholders in respect thereof, except to receive the Redemption Price therefor (less any tax required to be deducted and withheld by the CompanyCorporation), unless payment of the Redemption Price shall not be duly made by or on behalf of the CompanyCorporation. At any time after notice of redemption is given as aforesaid, the Company Corporation shall have the right to deposit the Redemption Price of any or all Series 2 Senior AO Preferred Shares called for redemption (less any tax required to be deducted and withheld by the CompanyCorporation), or such part thereof as at the time of deposit has not been claimed by Series 2 Shareholders the Holders entitled thereto, with any chartered bank or banks or with any trust company or trust companies in Canada named in the notice of redemption to the credit of a special account or accounts in trust for the respective Series 2 Shareholders Holders of such shares, to be paid to them respectively upon surrender to such bank or banks or trust company or trust companies of the certificate or certificates representing the same, if any, subject to the provisions of Section 15. Upon such deposit or deposits being made, such shares shall be redeemed on the redemption date specified in the notice of redemption (the “Redemption Date”)redemption. After the Company Corporation has made a deposit of cash as aforesaid with respect to any sharesthe applicable Series AO Preferred Shares, the Series 2 Shareholders Holders thereof shall not, from and after the Redemption Dateredemption date, be entitled to exercise any of the rights of shareholders in respect thereof and the rights of the Series 2 Shareholders Holders thereof shall be limited to receiving a proportion of the amounts so deposited applicable to such shares, without interest. Any interest allowed on such deposit shall belong to the CompanyCorporation. Subject to applicable law, redemption monies moneys that are represented by a cheque which has not been presented to the CompanyCorporation’s bankers for payment or that otherwise remain unclaimed (including monies moneys held in deposit as provided for above) for a period of six years from the date specified for redemption shall be forfeited to the Company. The Company cannot exercise its redemption rights hereunder in respect of any Series 2 Senior Preferred Shares that have been surrendered for retraction under Section 3Corporation.

Appears in 1 contract

Samples: Support Agreement (Bce Inc)

Method of Redemption. The Company shall give notice in writing not less than 30 days nor more than 60 days prior to the date on which the redemption is to take place of its intention to redeem such Series 2 1 Senior Preferred Shares to each person who at the date of giving such notice is the Series 2 1 Shareholder of Series 2 1 Senior Preferred Shares to be redeemed. Any such notice shall be validly and effectively given on the date on which it is sent to each Series 2 1 Shareholder of Series 2 1 Senior Preferred Shares to be redeemed in the manner provided for in Section 1112. Such notice shall set out the number of such Series 2 1 Senior Preferred Shares held by the person to whom it is addressed which are to be redeemed and the Redemption Price and shall also set out the date on which the redemption is to take place. On and after the date so specified for redemption, the Company shall pay or cause to be paid to the Series 2 1 Shareholders to be redeemed the Redemption Price (less any tax required to be deducted and withheld by the Company) on presentation and surrender, at any place within Canada designated by such notice, of the certificate or certificates for such Series 2 1 Senior Preferred Shares so called for redemption. Payment shall be made by either (i) wire or electronic transfer in lawful money of Canada for the amount of the Redemption Price (less any tax required to be and in fact deducted and withheld by the Company and remitted to the proper taxing authority) (ii) cheque in the amount of the Redemption Price (less any tax required to be and in fact deducted and withheld by the Company and remitted to the proper taxing authority) payable at par at any branch in Canada of the Company’s bankers for the time being or (iii) any other reasonable means that the Company deems desirable. The making of a payment by way of a wire or electronic transfer of funds or the delivery of such cheque, as applicable, shall be a full and complete discharge of the Company’s obligation to pay the Redemption Price owed to the Series 2 1 Shareholders of Series 2 1 Senior Preferred Shares so called for redemption to the extent of the sum represented thereby (plus the amount of any tax required to be and in fact deducted and withheld by the Company and remitted to the proper taxing authority) unless the cheque is not honoured when presented for payment. From and after the date specified in any such notice, the Series 2 1 Senior Preferred Shares called for redemption shall cease to be entitled to Series 2 1 Dividends and the Series 2 1 Shareholders thereof shall not be entitled to exercise any of the rights of shareholders in respect thereof, except to receive the Redemption Price therefor (less any tax required to be deducted and withheld by the Company), unless payment of the Redemption Price shall not be duly made by the Company. At any time after notice of redemption is given as aforesaid, the Company shall have the right to deposit the Redemption Price of any or all Series 2 1 Senior Preferred Shares called for redemption (less any tax required to be deducted and withheld by the Company), or such part thereof as at the time of deposit has not been claimed by Series 2 1 Shareholders entitled thereto, with any chartered bank or banks or with any trust company or trust companies in Canada named in the notice of redemption to the credit of a special account or accounts in trust for the respective Series 2 1 Shareholders of such shares, to be paid to them respectively upon surrender to such bank or banks or trust company or trust companies of the certificate or certificates representing the same. Upon such deposit or deposits being made, such shares shall be redeemed on the redemption date specified in the notice of redemption (the “Redemption Date”). After the Company has made a deposit of cash as aforesaid with respect to any shares, the Series 2 1 Shareholders thereof shall not, from and after the Redemption Date, be entitled to exercise any of the rights of shareholders in respect thereof and the rights of the Series 2 1 Shareholders thereof shall be limited to receiving a proportion of the amounts so deposited applicable to such shares, without interest. Any interest allowed on such deposit shall belong to the Company. Subject to applicable law, redemption monies that are represented by a cheque which has not been presented to the Company’s bankers for payment or that otherwise remain unclaimed (including monies held in deposit as provided for above) for a period of six years from the date specified for redemption shall be forfeited to the Company. The Company cannot exercise its redemption rights hereunder in respect of any Series 2 1 Senior Preferred Shares that have been surrendered for retraction under Section 3.

Appears in 1 contract

Samples: Arrangement Agreement (Brookfield Office Properties Inc)

Method of Redemption. The Company Corporation shall give notice in writing writing, not less than 30 thirty (30) days nor more than 60 sixty (60) days prior to the date on which the fixed for redemption of any Series AM Preferred Shares, that it is to take place of its intention to redeem such redeeming Series 2 Senior AM Preferred Shares pursuant to Section 3.1 hereof to each person who at the date of giving such notice is the Series 2 Shareholder Holder of Series 2 Senior AM Preferred Shares to be redeemed. Any such notice shall be validly and effectively given on the date on which it is sent to each Series 2 Shareholder Holder of Series 2 Senior AM Preferred Shares to be redeemed in the manner provided for in Section 1113. Such notice shall set out the number of such Series 2 Senior AM Preferred Shares held by the person to whom it is addressed which are to be redeemed and the Redemption Price and shall also set out the date on which the redemption is to take place. On and after the date so specified for redemption, the Company Corporation shall pay or cause to be paid to the Series 2 Shareholders to be redeemed applicable Holders the Redemption Price (less any tax required to be deducted and withheld by the CompanyCorporation) on presentation and surrender, at any place within Canada designated by such notice, of the certificate or certificates for such Series 2 Senior AM Preferred Shares so called for redemption, if any, subject to the provisions of Section 15. Payment Such payment shall be made by either (i) wire electronic funds transfer or electronic transfer in lawful money of Canada for the amount of the Redemption Price (less any tax required to be and in fact deducted and withheld by the Company and remitted to the proper taxing authority) (ii) cheque in the amount of the Redemption Price (less any tax required to be and in fact deducted and withheld by the Company and remitted to the proper taxing authorityCorporation) payable at par at any branch in Canada of the CompanyCorporation’s bankers for the time being or (iii) by any other reasonable means that the Company Corporation deems desirable. The desirable and the making of a such payment by way of a wire or electronic transfer of funds or the delivery of such cheque, as applicable, cheque in such amount shall be a full and complete discharge of the CompanyCorporation’s obligation to pay the Redemption Price owed to the Series 2 Shareholders Holders of Series 2 Senior AM Preferred Shares so called for redemption to the extent of the sum represented thereby (plus the amount of any tax required to be and in fact deducted and withheld by the Company Corporation and remitted to the proper taxing authority) ), unless the cheque is not honoured when presented for payment. From and after the date specified in any such notice, the Series 2 Senior AM Preferred Shares called for redemption shall cease to be entitled to receive Series 2 AM Dividends and the Series 2 Shareholders Holders thereof shall not be entitled to exercise any of the rights of shareholders in respect thereof, except to receive the Redemption Price therefor (less any tax required to be deducted and withheld by the CompanyCorporation), unless payment of the Redemption Price shall not be duly made by or on behalf of the CompanyCorporation. At any time after notice of redemption is given as aforesaid, the Company Corporation shall have the right to deposit the Redemption Price of any or all Series 2 Senior AM Preferred Shares called for redemption (less any tax required to be deducted and withheld by the CompanyCorporation), or such part thereof as at the time of deposit has not been claimed by Series 2 Shareholders the Holders entitled thereto, with any chartered bank or banks or with any trust company or trust companies in Canada named in the notice of redemption to the credit of a special account or accounts in trust for the respective Series 2 Shareholders Holders of such shares, to be paid to them respectively upon surrender to such bank or banks or trust company or trust companies of the certificate or certificates representing the same, if any, subject to the provisions of Section 15. Upon such deposit or deposits being made, such shares shall be redeemed on the redemption date specified in the notice of redemption (the “Redemption Date”)redemption. After the Company Corporation has made a deposit of cash as aforesaid with respect to any sharesthe applicable Series AM Preferred Shares, the Series 2 Shareholders Holders thereof shall not, from and after the Redemption Dateredemption date, be entitled to exercise any of the rights of shareholders in respect thereof and the rights of the Series 2 Shareholders Holders thereof shall be limited to receiving a proportion of the amounts so deposited applicable to such shares, without interest. Any interest allowed on such deposit shall belong to the CompanyCorporation. Subject to applicable law, redemption monies moneys that are represented by a cheque which has not been presented to the CompanyCorporation’s bankers for payment or that otherwise remain unclaimed (including monies moneys held in deposit as provided for above) for a period of six years from the date specified for redemption shall be forfeited to the Company. The Company cannot exercise its redemption rights hereunder in respect of any Series 2 Senior Preferred Shares that have been surrendered for retraction under Section 3Corporation.

Appears in 1 contract

Samples: Support Agreement (Bce Inc)

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Method of Redemption. The Company Corporation shall give notice in writing not less than 30 thirty (30) days nor more than 60 sixty (60) days prior to the date on which the fixed for redemption of any Series AP Preferred Shares, that it is to take place of its intention to redeem such redeeming Series 2 Senior AP Preferred Shares pursuant to Section 3.1 hereof, to each person who at the date of giving such notice is the Series 2 Shareholder Holder of Series 2 Senior AP Preferred Shares to be redeemed. Any such notice shall be validly and effectively given on the date on which it is sent to each Series 2 Shareholder Holder of Series 2 Senior AP Preferred Shares to be redeemed in the manner provided for in Section 1113. Such notice shall set out the number of such Series 2 Senior AP Preferred Shares held by the person to whom it is addressed which are to be redeemed and the Redemption Price and shall also set out the date on which the redemption is to take place. On and after the date so specified for redemption, the Company Corporation shall pay or cause to be paid to the Series 2 Shareholders to be redeemed applicable Holders the Redemption Price (less any tax required to be deducted and withheld by the CompanyCorporation) on presentation and surrender, at any place within Canada designated by such notice, of the certificate or certificates for such Series 2 Senior AP Preferred Shares so called for redemption, if any, subject to the provisions of Section 15. Payment Such payment shall be made by either (i) wire electronic funds transfer or electronic transfer in lawful money of Canada for the amount of the Redemption Price (less any tax required to be and in fact deducted and withheld by the Company and remitted to the proper taxing authority) (ii) cheque in the amount of the Redemption Price (less any tax required to be and in fact deducted and withheld by the Company and remitted to the proper taxing authorityCorporation) payable at par at any branch in Canada of the CompanyCorporation’s bankers for the time being or (iii) by any other reasonable means that the Company Corporation deems desirable. The desirable and the making of a such payment by way of a wire or electronic transfer of funds or the delivery of such cheque, as applicable, cheque in such amount shall be a full and complete discharge of the CompanyCorporation’s obligation to pay the Redemption Price owed to the Series 2 Shareholders Holders of Series 2 Senior AP Preferred Shares so called for redemption to the extent of the sum represented thereby (plus the amount of any tax required to be and in fact deducted and withheld by the Company Corporation and remitted to the proper taxing authority) ); unless the cheque is not honoured when presented for payment. From and after the date specified in any such notice, the Series 2 Senior AP Preferred Shares called for redemption shall cease to be entitled to receive Series 2 AP Dividends and the Series 2 Shareholders Holders thereof shall not be entitled to exercise any of the rights of shareholders in respect thereof, except to receive the Redemption Price therefor (less any tax required to be deducted and withheld by the CompanyCorporation), unless payment of the Redemption Price shall not be duly made by or on behalf of the CompanyCorporation. At any time after notice of redemption is given as aforesaid, the Company Corporation shall have the right to deposit the Redemption Price of any or all Series 2 Senior AP Preferred Shares called for redemption (less any tax required to be deducted and withheld by the CompanyCorporation), or such part thereof as at the time of deposit has not been claimed by Series 2 Shareholders the Holders entitled thereto, with any chartered bank or banks or with any trust company or trust companies in Canada named in the notice of redemption to the credit of a special account or accounts in trust for the respective Series 2 Shareholders Holders of such shares, to be paid to them respectively upon surrender to such bank or banks or trust company or trust companies of the certificate or certificates representing the same, if any, subject to the provisions of Section 15. Upon such deposit or deposits being made, such shares shall be redeemed on the redemption date specified in the notice of redemption (the “Redemption Date”)redemption. After the Company Corporation has made a deposit of cash as aforesaid with respect to any sharesthe applicable Series AP Preferred Shares, the Series 2 Shareholders Holders thereof shall not, from and after the Redemption Dateredemption date, be entitled to exercise any of the rights of shareholders in respect thereof and the rights of the Series 2 Shareholders Holders thereof shall be limited to receiving a proportion of the amounts so deposited applicable to such shares, without interest. Any interest allowed on such deposit shall belong to the CompanyCorporation. Subject to applicable law, redemption monies moneys that are represented by a cheque which has not been presented to the CompanyCorporation’s bankers for payment or that otherwise remain unclaimed (including monies moneys held in deposit as provided for above) for a period of six years from the date specified for redemption shall be forfeited to the Company. The Company cannot exercise its redemption rights hereunder in respect of any Series 2 Senior Preferred Shares that have been surrendered for retraction under Section 3Corporation.

Appears in 1 contract

Samples: Support Agreement (Bce Inc)

Method of Redemption. The Company shall give notice in writing not less than 30 days nor more than 60 days prior to the date on which the redemption is to take place of its intention to redeem such Series 2 3 Senior Preferred Shares to each person who at the date of giving such notice is the Series 2 3 Shareholder of Series 2 3 Senior Preferred Shares to be redeemed. Any such notice shall be validly and effectively given on the date on which it is sent to each Series 2 3 Shareholder of Series 2 3 Senior Preferred Shares to be redeemed in the manner provided for in Section 11. Such notice shall set out the number of such Series 2 3 Senior Preferred Shares held by the person to whom it is addressed which are to be redeemed and the Redemption Price and shall also set out the date on which the redemption is to take place. On and after the date so specified for redemption, the Company shall pay or cause to be paid to the Series 2 3 Shareholders to be redeemed the Redemption Price (less any tax required to be deducted and withheld by the Company) on presentation and surrender, at any place within Canada designated by such notice, of the certificate or certificates for such Series 2 3 Senior Preferred Shares so called for redemption. Payment shall be made by either (i) wire or electronic transfer in lawful money of Canada for the amount of the Redemption Price (less any tax required to be and in fact deducted and withheld by the Company and remitted to the proper taxing authority) (ii) cheque in the amount of the Redemption Price (less any tax required to be and in fact deducted and withheld by the Company and remitted to the proper taxing authority) payable at par at any branch in Canada of the Company’s bankers for the time being or (iii) any other reasonable means that the Company deems desirable. The making of a payment by way of a wire or electronic transfer of funds or the delivery of such cheque, as applicable, shall be a full and complete discharge of the Company’s obligation to pay the Redemption Price owed to the Series 2 3 Shareholders of Series 2 3 Senior Preferred Shares so called for redemption to the extent of the sum represented thereby (plus the amount of any tax required to be and in fact deducted and withheld by the Company and remitted to the proper taxing authority) unless the cheque is not honoured when presented for payment. From and after the date specified in any such notice, the Series 2 3 Senior Preferred Shares called for redemption shall cease to be entitled to Series 2 3 Dividends and the Series 2 3 Shareholders thereof shall not be entitled to exercise any of the rights of shareholders in respect thereof, except to receive the Redemption Price therefor (less any tax required to be deducted and withheld by the Company), unless payment of the Redemption Price shall not be duly made by the Company. At any time after notice of redemption is given as aforesaid, the Company shall have the right to deposit the Redemption Price of any or all Series 2 3 Senior Preferred Shares called for redemption (less any tax required to be deducted and withheld by the Company), or such part thereof as at the time of deposit has not been claimed by Series 2 3 Shareholders entitled thereto, with any chartered bank or banks or with any trust company or trust companies in Canada named in the notice of redemption to the credit of a special account or accounts in trust for the respective Series 2 3 Shareholders of such shares, to be paid to them respectively upon surrender to such bank or banks or trust company or trust companies of the certificate or certificates representing the same. Upon such deposit or deposits being made, such shares shall be redeemed on the redemption date specified in the notice of redemption (the “Redemption Date”). After the Company has made a deposit of cash as aforesaid with respect to any shares, the Series 2 Shareholders thereof shall not, from and after the Redemption Date, be entitled to exercise any of the rights of shareholders in respect thereof and the rights of the Series 2 Shareholders thereof shall be limited to receiving a proportion of the amounts so deposited applicable to such shares, without interest. Any interest allowed on such deposit shall belong to the Company. Subject to applicable law, redemption monies that are represented by a cheque which has not been presented to the Company’s bankers for payment or that otherwise remain unclaimed (including monies held in deposit as provided for above) for a period of six years from the date specified for redemption shall be forfeited to the Company. The Company cannot exercise its redemption rights hereunder in respect of any Series 2 Senior Preferred Shares that have been surrendered for retraction under Section 3.the

Appears in 1 contract

Samples: Arrangement Agreement (Brookfield Office Properties Inc)

Method of Redemption. The Company shall give notice in writing not less than 30 days nor more than 60 days prior to the date on which the redemption is to take place of its intention to redeem such Series 2 4 Senior Preferred Shares to each person who at the date of giving such notice is the Series 2 4 Shareholder of Series 2 4 Senior Preferred Shares to be redeemed. Any such notice shall be validly and effectively given on the date on which it is sent to each Series 2 4 Shareholder of Series 2 4 Senior Preferred Shares to be redeemed in the manner provided for in Section 11. Such notice shall set out the number of such Series 2 4 Senior Preferred Shares held by the person to whom it is addressed which are to be redeemed and the Redemption Price and shall also set out the date on which the redemption is to take place. On and after the date so specified for redemption, the Company shall pay or cause to be paid to the Series 2 4 Shareholders to be redeemed the Redemption Price (less any tax required to be deducted and withheld by the Company) on presentation and surrender, at any place within Canada designated by such notice, of the certificate or certificates for such Series 2 4 Senior Preferred Shares so called for redemption. Payment shall be made by either (i) wire or electronic transfer in lawful money of Canada for the amount of the Redemption Price (less any tax required to be and in fact deducted and withheld by the Company and remitted to the proper taxing authority) (ii) cheque in the amount of the Redemption Price (less any tax required to be and in fact deducted and withheld by the Company and remitted to the proper taxing authority) payable at par at any branch in Canada of the Company’s bankers for the time being or (iii) any other reasonable means that the Company deems desirable. The making of a payment by way of a wire or electronic transfer of funds or the delivery of such cheque, as applicable, shall be a full and complete discharge of the Company’s obligation to pay the Redemption Price owed to the Series 2 4 Shareholders of Series 2 4 Senior Preferred Shares so called for redemption to the extent of the sum represented thereby (plus the amount of any tax required to be and in fact deducted and withheld by the Company and remitted to the proper taxing authority) unless the cheque is not honoured when presented for payment. From and after the date specified in any such notice, the Series 2 4 Senior Preferred Shares called for redemption shall cease to be entitled to Series 2 4 Dividends and the Series 2 4 Shareholders thereof shall not be entitled to exercise any of the rights of shareholders in respect thereof, except to receive the Redemption Price therefor (less any tax required to be deducted and withheld by the Company), unless payment of the Redemption Price shall not be duly made by the Company. At any time after notice of redemption is given as aforesaid, the Company shall have the right to deposit the Redemption Price of any or all Series 2 4 Senior Preferred Shares called for redemption (less any tax required to be deducted and withheld by the Company), or such part thereof as at the time of deposit has not been claimed by Series 2 4 Shareholders entitled thereto, with any chartered bank or banks or with any trust company or trust companies in Canada named in the notice of redemption to the credit of a special account or accounts in trust for the respective Series 2 4 Shareholders of such shares, to be paid to them respectively upon surrender to such bank or banks or trust company or trust companies of the certificate or certificates representing the same. Upon such deposit or deposits being made, such shares shall be redeemed on the redemption date specified in the notice of redemption (the “Redemption Date”). After the Company has made a deposit of cash as aforesaid with respect to any shares, the Series 2 4 Shareholders thereof shall not, from and after the Redemption Date, be entitled to exercise any of the rights of shareholders in respect thereof and the rights of the Series 2 4 Shareholders thereof shall be limited to receiving a proportion of the amounts so deposited applicable to such shares, without interest. Any interest allowed on such deposit shall belong to the Company. Subject to applicable law, redemption monies that are represented by a cheque which has not been presented to the Company’s bankers for payment or that otherwise remain unclaimed (including monies held in deposit as provided for above) for a period of six years from the date specified for redemption shall be forfeited to the Company. The Company cannot exercise its redemption rights hereunder in respect of any Series 2 4 Senior Preferred Shares that have been surrendered for retraction under Section 3.

Appears in 1 contract

Samples: Arrangement Agreement (Brookfield Office Properties Inc)

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