PRVT » Topics » Section 3.2 Payment

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

Section 3.2 Payment

Cheques of Corporation payable at any branch of the bankers of Corporation shall be issued in respect of any cash dividends contemplated by Section 3.1(a)(i) and the sending of

 

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such a cheque to each holder of an Exchangeable Share shall satisfy the cash dividend represented thereby unless the cheque is not paid on presentation. Such other type and amount of property in respect of any dividends contemplated by Section 3.1(a)(ii) shall be issued, distributed or transferred by Corporation in such manner as it shall determine and the issuance, distribution or transfer thereof by Corporation to each holder of an Exchangeable Share shall satisfy the dividend represented thereby. No holder of an Exchangeable Share shall be entitled to recover by action or other legal process against Corporation any dividend that is represented by a cheque that has not been duly presented to Corporation’s bankers for payment or that otherwise remains unclaimed for a period of six (6) years from the date on which such dividend was payable.

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