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PRVT » Topics » Section 11.2 Amendments, Modifications, etc.

This excerpt taken from the PRVT 8-K filed Nov 3, 2009.

Section 11.2 Amendments, Modifications, etc.

Corporation shall not propose, agree to or otherwise give effect to any amendment to, or waiver or forgiveness of its obligations under the Exchange and Support Agreement without the approval of the holders of the Exchangeable Shares given in accordance with Section 9.2 of these share provisions other than such amendments, waivers and/or forgiveness as may be necessary or advisable for the purpose of:

 

  (a) adding to the covenants of the other party or parties to such agreement for the protection of the holders of Exchangeable Shares; or

 

  (b) making such provisions or modifications not inconsistent with the spirit and intent of such agreement as may be necessary or desirable with respect to matters or questions arising thereunder which, in the opinion of the Board of Directors, it may be expedient to make, provided that such provisions and modifications will not be prejudicial or adverse to the interests of the holders of Exchangeable Shares; or

 

  (c) making such changes in or corrections to such agreement which, on the advice of counsel to Corporation, are required for the purpose of curing or correcting any defect or clerical omission or mistake or manifest error contained therein, provided that the Board of Directors shall be of the opinion, after consultation with counsel, that such changes or corrections will not be prejudicial or adverse to the interests of the holders of the Exchangeable Shares.
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