Examples of Plan Agent in a sentence
In the event that the Corporation suspends or terminates the Plan, no investment in Preferred Shares will be made by the Plan Agent on the Dividend Payment Date immediately following the effective date of such termination, and any Dividend paid after the effective date of such termination that would, but for the termination, be reinvested under the Plan, will be paid to the Shareholders in cash.
Involuntary Termination by Death Participation in the Plan will also be terminated automatically following receipt by the Plan Agent of a written notice and sufficient evidence of the death of a Shareholder.
All administrative costs of the Plan, including the fees and expenses of the Plan Agent, will be paid by the Corporation.
In the event of a subdivision, consolidation or similar pro rata change in the number of outstanding Preferred Shares into a greater or lesser number of Preferred Shares, the Plan Agent will proportionately credit or debit the account of each Shareholder maintained under the Plan according to the number of Preferred Shares held for the account of that Shareholder prior to or concurrently with the effective time of the subdivision, consolidation or similar change.
Full reinvestment is possible under the Plan as the Plan Agent will credit to the account of each Shareholder, on each reinvestment made under the Plan, a fractional interest in a whole Preferred Share (to four decimal places) for any amount that cannot be reinvested in whole Preferred Shares.