On redemption or at the Final Maturity Date, the Fund may, at its option, on not
more than 60 days and not less than 30 days prior notice and subject to regulatory
approval, elect to satisfy its obligation to pay the applicable Redemption Price or
the principal amount of the Debentures by issuing and delivering that number of
Units freely tradeable in Canada obtained by dividing the aggregate Redemption
Price of the outstanding Debentures which are to be redeemed, or the principal
amount of outstanding Debentures which have matured, as the case may be, by
95% of the Current Market Price on the date fixed for redemption or the Final
Maturity Date, as the case may be. Any accrued and unpaid interest thereon will
be paid in cash.
Change of Control: Upon the occurrence of a Change of Control of the Fund, each holder of Debentures may require the Fund to purchase, on a date which is 30 days
following the giving of notice of the Change of Control, the whole or any part of
such holder’s Debentures at a price equal to 101% of the principal amount
thereof plus accrued and unpaid interest to such date.
Subordination: The payment of the principal and premium, if any, of, and interest on, the Debentures will be subordinated in right of payment, as set forth in the Indenture,
to the prior payment in full of all Senior Indebtedness of the Fund. The
Debentures will also be effectively subordinate to claims of creditors of each
subsidiary of the Fund except to the extent the Fund directly or indirectly through
one of its other subsidiaries has a claim as a creditor of such subsidiary ranking at
least pari passu with such other creditors. The Debentures will not limit the
ability of the Fund to incur additional indebtedness, liabilities and obligations,
including indebtedness that ranks senior to the Debentures, or from mortgaging,
pledging or charging its properties to secure any indebtedness."