Trust Indenture Act

Hugoton Royalty Trust Declares No July Cash Distribution

Retrieved on: 
Tuesday, July 20, 2021

The expense reserve used to pay administrative expenses in the absence of current month distributions was depleted in October 2020.

Key Points: 
  • The expense reserve used to pay administrative expenses in the absence of current month distributions was depleted in October 2020.
  • As a result, Simmons Bank, the Trustee, is currently paying the expenses for the Trust, subject to its rights to be indemnified and reimbursed pursuant to the terms of the Trust indenture.
  • However, there is nothing in the Trust indenture that requires Simmons Bank to pay the expenses for the Trust.
  • The Trust and XTO Energy conducted the interim hearing on the claims related to the Chieftain settlement on October 12-13, 2020.

Hugoton Royalty Trust Declares No June Cash Distribution

Retrieved on: 
Friday, June 18, 2021

Because of this, sales volumes may fluctuate from month to month based on the timing of cash receipts.

Key Points: 
  • Because of this, sales volumes may fluctuate from month to month based on the timing of cash receipts.
  • As a result, Simmons Bank, the Trustee, is currently paying the expenses for the Trust, subject to its rights to be indemnified and reimbursed pursuant to the terms of the Trust indenture.
  • However, there is nothing in the Trust indenture that requires Simmons Bank to pay the expenses for the Trust.
  • Any material sale of assets and/or termination of the Trust requires unitholder approval by at least 80% of all outstanding units.

Hugoton Royalty Trust Declares No April Cash Distribution

Retrieved on: 
Tuesday, April 20, 2021

b'(a) Sales volumes are recorded in the month the Trust receives the related net profits income.

Key Points: 
  • b'(a) Sales volumes are recorded in the month the Trust receives the related net profits income.
  • As a result, Simmons Bank, the Trustee, is currently paying the expenses for the Trust, subject to its rights to be indemnified and reimbursed pursuant to the terms of the Trust indenture.
  • However, there is nothing in the Trust indenture that requires Simmons Bank to pay the expenses for the Trust.
  • The right to indemnification would include reimbursement from proceeds received from a sale of the Trust\'s assets, if any.

Colabor Completes Redemption of the 6.00% Convertible Debentures

Retrieved on: 
Tuesday, March 23, 2021

BOUCHERVILLE, Quebec, March 23, 2021 (GLOBE NEWSWIRE) -- Colabor Group Inc. (TSX: GCL) (Colabor or theCompany) has completed today the previously announced redemption of the 6.00% convertible unsecured subordinated debentures that were to mature on October13, 2021 (theConvertible Debentures), in accordance with the terms of the trust indenture dated April27, 2010, as amended by a first supplemental indenture dated October13, 2016, governing these debentures.

Key Points: 
  • BOUCHERVILLE, Quebec, March 23, 2021 (GLOBE NEWSWIRE) -- Colabor Group Inc. (TSX: GCL) (Colabor or theCompany) has completed today the previously announced redemption of the 6.00% convertible unsecured subordinated debentures that were to mature on October13, 2021 (theConvertible Debentures), in accordance with the terms of the trust indenture dated April27, 2010, as amended by a first supplemental indenture dated October13, 2016, governing these debentures.
  • On February18, 2021, the Company issued a redemption notice in respect of the aggregate outstanding principal amount of $50 million of Convertible Debentures.
  • Of that principal amount, $684 000 was converted at the holders request into a total of 273 600 Colabor common shares at a conversion price of $2.50 per share.
  • The Convertible Debentures, listed on the Toronto Stock Exchange under the symbol GCL.DB.A, have been delisted today from trading on the TSX.

Marine Petroleum Trust Announces First Quarter Cash Distribution and Extension of Trust to June 1, 2041

Retrieved on: 
Tuesday, February 16, 2021

This distribution of $0.018129 per unit is higher than the $0.007178 per unit distributed last quarter.

Key Points: 
  • This distribution of $0.018129 per unit is higher than the $0.007178 per unit distributed last quarter.
  • This distribution is lower than the $0.065452 per unit distributed in the comparable quarter in 2020.
  • The prior Restated Marine Petroleum Trust Indenture (the "Indenture') stated that Marine would terminate on June 1, 2021.
  • The updated Indenture reflecting the June 1, 2041 termination date was filed with Marine's Form 10-Q on November 16, 2021.

IntelGenx Announces Issuance of Shares in Payment of Interest on Outstanding Debentures

Retrieved on: 
Wednesday, January 6, 2021

Under the terms of the trust indenture governing the Debentures (the Indenture), the Corporation has the option to pay the semi-annual interest on the Debentures in either cash or Common Shares, subject to customary conditions set forth in the Indenture.

Key Points: 
  • Under the terms of the trust indenture governing the Debentures (the Indenture), the Corporation has the option to pay the semi-annual interest on the Debentures in either cash or Common Shares, subject to customary conditions set forth in the Indenture.
  • The issuance of the Common Shares in payment of interest on the Debentures was subject to the acceptance by the TSX Venture Exchange Inc.
  • The Common Shares issued in payment of interest on the Debentures were issued pursuant to exemptions from the prospectus requirements of applicable securities laws.
  • IntelGenx is a leading drug delivery company focused on the development and manufacturing of pharmaceutical films.

RioCan Real Estate Investment Trust Announces Redemption of Series R Unsecured Debentures

Retrieved on: 
Wednesday, December 9, 2020

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES

Key Points: 
  • NOT FOR DISTRIBUTION TO U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES
    TORONTO, Dec. 09, 2020 (GLOBE NEWSWIRE) -- RioCan Real Estate Investment Trust (RioCan or the Trust) (TSX: REI.UN) today announced that it is issuing a notice of redemption to holders of its $250 million, 3.716% Series R senior unsecured debentures due December 13, 2021 (the Debentures).
  • The Debentures will be redeemed in full on January 15, 2021 (the Redemption Date) in accordance with their terms.
  • Pursuant to the terms of the trust indenture governing the Debentures, the Debentures will be redeemed at a redemption price equal to the greater of the Canada Yield Price and par, together in each case with accrued and unpaid interest to the Redemption Date.
  • The aggregate redemption price payable by RioCan on the Redemption Date is approximately $256,745,000 plus accrued interest of $839,918.

IntelGenx Announces Issuance of Shares in Payment of Interest on Outstanding Debentures

Retrieved on: 
Tuesday, December 8, 2020

Under the terms of the trust indenture governing the Debentures (the Indenture), the Corporation has the option to pay the semi-annual interest on the Debentures in either cash or Common Shares, subject to customary conditions set forth in the Indenture.

Key Points: 
  • Under the terms of the trust indenture governing the Debentures (the Indenture), the Corporation has the option to pay the semi-annual interest on the Debentures in either cash or Common Shares, subject to customary conditions set forth in the Indenture.
  • The issuance of the Common Shares in payment of interest on the Debentures is subject to the acceptance by the TSX Venture Exchange Inc.
  • The Common Shares issued in payment of interest on the Debentures will be issued pursuant to exemptions from the prospectus requirements of applicable securities laws.
  • IntelGenx is a leading drug delivery company focused on the development and manufacturing of pharmaceutical films.

Marine Petroleum Trust Announces Fourth Quarter Cash Distribution And Extension of Trust to June 1, 2041

Retrieved on: 
Thursday, November 19, 2020

This distribution of $0.007178 per unit is lower than the $0.044516 per unit distributed last quarter.

Key Points: 
  • This distribution of $0.007178 per unit is lower than the $0.044516 per unit distributed last quarter.
  • As compared to the previous quarter, both the volume of oil and of natural gas produced and included in this distribution have decreased.
  • The prior Restated Marine Petroleum Trust Indenture (the "Indenture') stated that Marine would terminate on June 1, 2021.
  • The updated Indenture reflecting the June 1, 2041 termination date was filed with Marine's Form 10-Q on November 16, 2021.

OMERS Realty Corporation to Redeem C$300 Million of Debt Securities

Retrieved on: 
Friday, May 22, 2020

TORONTO, May 22, 2020 (GLOBE NEWSWIRE) -- OMERS Realty Corporation (ORC"), one of the Oxford Properties group of companies, advised the trustee it will exercise its right to redeem all of its C$300 million principal amount of 3.203% notes due July 24, 2020 (CUSIP No.

Key Points: 
  • TORONTO, May 22, 2020 (GLOBE NEWSWIRE) -- OMERS Realty Corporation (ORC"), one of the Oxford Properties group of companies, advised the trustee it will exercise its right to redeem all of its C$300 million principal amount of 3.203% notes due July 24, 2020 (CUSIP No.
  • 68214WAJ7), pursuant to the terms of the trust indenture dated June 5, 2013, as supplemented by the first supplemental indenture to the trust indenture dated July 25, 2013.
  • ORC will provide required details to the trustee in accordance with the terms of the trust indenture.
  • This release is for informational purposes only and is not an offer to buy any securities of ORC.