Document:

exv4w8

 

TRADEMARK SUBLICENSE AGREEMENT

          THIS AGREEMENT (“Agreement”) is effective the 17th day of August, 2007 (the “Effective Date”)
by and between Brookfield Global Asset Management Inc, an Ireland corporation, having a place of
business at First Floor, Fitzwilton House, Wilton Place, Dublin 2, Ireland (“Sublicensor”) and
Brookfield Infrastructure L.P., a Bermuda limited partnership, having a place of business at
Canon’s Court, 22 Victoria Street, Hamilton HM 12, Bermuda (“Sublicensee”).

RECITALS

          WHEREAS Brookfield Properties Corporation (“Owner”) owns the Licensed Marks in the Territory
as defined below and has granted to Sublicensor a right and license to use the Licensed Marks in
the Territory with a right to grant sublicenses pursuant to a Trademark License Agreement dated
September 15, 2005 (“Master License”);

          AND WHEREAS, the Sublicensee wishes to obtain a license to use the Licensed Marks in the
Territory, and Sublicensor agrees to grant such a license, subject to the terms and conditions set
out in this Agreement.

          NOW THEREFORE in consideration of the mutual promises and agreements herein made and intending
to be legally bound hereby, the parties hereto agree as follows:

1. Definitions

“Effective Date” means the 17th day of August, 2007.

“Licensed Marks” means the trademarks, trade names, logos and domain names listed in
Schedule A hereto, or as amended from time to time by written instrument executed by an
officer or director of each of Sublicensor and Sublicensee.

“Licensed Uses” means uses of the Licensed Marks in connection with the
Sublicensee’s or its subsidiaries’ current or proposed activities including in association
with any goods or services sold or performed in connection with its subsidiaries’ current or
proposed activities or activities performed by the Sublicensee.

“Master License” means the Trademark License Agreement between Owner and Sublicensor
dated September 15, 2005.

“Owner” means Brookfield Properties Corporation.

“Parties” means Sublicensor and Sublicensee.

“Party” means Sublicensor or Sublicensee.

 

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“Person” means any individual, partnership, corporation, limited liability company,
unincorporated organization or association, trust (including the trustees thereof, in their
capacity as such) or other entity.

“Sublicensee” means Brookfield Infrastructure L.P., a Bermuda limited partnership,
having a place of business at Canon’s Court, 22 Victoria Street, Hamilton HM 12, Bermuda.

“Sublicensor” means Brookfield Global Asset Management Inc, an Ireland corporation,
having a place of business at First Floor, Fitzwilton House, Wilton Place, Dublin 2,
Ireland.

“subsidiary” of a Person (the “first Person”) means any Person directly or
indirectly controlled by the first Person and includes a subsidiary of that subsidiary.

“Territory” means the United States and Canada.

2. Grant of SubLicense

2.1 Grant. Sublicensor hereby grants to Sublicensee and its subsidiaries, as of the
Effective Date and subject to the terms and conditions of this Agreement, a non-exclusive,
royalty-free right and sublicense to use the Licensed Marks in the Territory in association with
the Licensed Uses.

2.2 Further Sublicensing. The rights granted by Sublicensor to Sublicensee and its
subsidiaries pursuant to paragraph 2.1 shall not include the right to grant sublicenses to any
other entities.

3. Sublicensee’s Acknowledgements and Agreements

3.1 Ownership. Sublicensee acknowledges Owner’s right, title and interest, and
Sublicensor’s license and interests, in and to the Licensed Marks in the Territory. Except for the
sublicense specifically provided in this Agreement, no other right, title, or interest in or to the
Licensed Marks in the Territory is created for the benefit of Sublicensee or its subsidiaries.

3.2 Validity. Sublicensee agrees that it will not, either during the Term of this
Agreement or thereafter, attack, oppose, attempt to cancel, or otherwise challenge in any manner or
in any forum Owner’s ownership and interests, or Sublicensor’s license and interests, in and to the
Licensed Marks in the Territory, or the validity of this Agreement.

3.3 Goodwill. Sublicensee acknowledges the goodwill associated with the Licensed Marks in
the Territory, and agrees that all goodwill, including any increase in the value of the Licensed
Marks as a result of this Agreement, will inure solely to Owner’s benefit. Sublicensee will not
claim any title or any proprietary right to the Licensed Marks in the Territory or in any
derivation, adaptation, or variation thereof.

3.4 No Registration. Sublicensee will not attempt to register any of the Licensed Marks in
the Territory, either alone or in combination with other words or indicia, or use or attempt to

 

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register any trademark (including, without limitation, domain names, telephone numbers and other
now existing or newly developed forms of trademarks) which is likely to be confused with the
Licensed Marks.

3.5 Trade Name. Sublicensee and its subsidiaries are permitted to use all or part of the
Licensed Marks as part of trade names of the Sublicensee or its subsidiaries in the Territory
during the Term and subject to the terms and conditions of this Agreement.

3.6 Evidence of Use. Upon Owner’s or Sublicensor’s request, Sublicensee shall provide, at
Owner’s or Sublicensor’s expense, evidence of use or other assistance that Sublicensor may
reasonably request to document use of the Licensed Marks.

3.7 Recordation. Sublicensee agrees to provide reasonable assistance to Owner or
Sublicensor, at Owner’s or Sublicensor’s request and expense, to record this Agreement with any
relevant or appropriate governmental agency and expressly agrees that recordation (or any similar
action) shall be undertaken only by Owner or Sublicensor and will be at Owner’s or Sublicensor’s
sole discretion. The Sublicensee’s assistance may, for example, include signing any additional
documents, including a shortened version of the major terms of this License.

4. Manner of Use

4.1 Usage Approval. Sublicensee agrees to use, and to permit its subsidiaries to use, the
Licensed Marks only in a manner and form that has been approved in advance by Sublicensor and in
accordance with any usage standards that Sublicensor may communicate to Sublicensee from time to
time.

4.2 Ownership Identification. Sublicensee agrees to comply, and to require its
subsidiaries to comply, with any reasonable marking requests that Sublicensor may make (for
example, that Sublicensee use the phrase “Registered Trademark”) in relation to the Licensed Marks.

5. Quality Control

5.1 Quality Standards. Sublicensee agrees to use, and to permit its subsidiaries to use,
the Licensed Marks only: (a) for Licensed Uses that meet any quality standards as communicated by
Sublicensor to Sublicensee from time to time (for greater certainty, Sublicensor hereby agrees that
Sublicensee’s activities as of the Effective Date of this agreement meet Sublicensor’s quality
standards); (b) in accordance with all applicable laws; and (c) in accordance with sound commercial
practice.

5.2 Prior Approval. Sublicensee agrees to submit, and to require its subsidiaries to
submit, copies of all proposed materials for use in any medium bearing any Licensed Marks to
Sublicensor, upon Sublicensor’s request, for Sublicensor’s approval before those materials are
published or otherwise disseminated.

5.3 Audit. To control and monitor effectively the quality of the Licensed Uses and the use
of the Licensed Marks, Sublicensor may inspect, upon five business day’s notice, during regular
business hours and without disruption of Sublicensee or its subsidiaries, Sublicensee’s or its
subsidiaries’ records relating to the Licensed Uses and the use of the Licensed Marks in the

 

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Territory. Sublicensee agrees to permit, and to require its subsidiaries to permit, Sublicensor or
its designated representatives to enter Sublicensee’s and its subsidiaries’ premises for the
purpose of inspecting Sublicensee’s or its subsidiaries’ records.

6. Infringement and Enforcement

6.1 Notice of Use. Sublicensee shall promptly notify Sublicensor if Sublicensee learns of
the existence, use or promotion of any mark or design that may be confused with any of the Licensed
Marks in the Territory.

6.2 Cooperation. Owner or Sublicensor may take any legal action that Owner or Sublicensor
deem necessary or advisable to enforce or defend the Licensed Marks. Sublicensee and its
subsidiaries shall cooperate with Owner and Sublicensor in providing testimony, exhibits, facts or
similar support or cooperation in connection with such legal action.

7. Term and Termination

7.1 Termination of Rights and Expiration of Agreement. The right and license granted
hereunder shall commence on the Effective Date and shall continue in effect until terminated as
noted below, or until otherwise agreed upon in writing between Sublicensor and Sublicensee.

7.2 Termination of Agreement at Election of Sublicensor. Sublicensor may terminate this
Agreement immediately upon termination of the master services agreement dated December 4, 2007
between Sublicensee and Brookfield Asset Management Inc., among others. Sublicensor may terminate
this Agreement upon giving 30 days’ written notice of termination to Sublicensee on the following
events:

     (a) the bankruptcy, insolvency, receivership or winding-up of Sublicensee;

     (b) the change of control of Sublicensee including, without limitation, the disposition, by
conveyance, transfer, lease, assignment or otherwise of all, or substantially all, of the assets of
Sublicensee;

     (c) the date prior to the date on which the seizure or attachment of the property, assets or
undertaking of Sublicensee, as a result of any action taken against it by any other Person;

     (d) Sublicensee defaults in the performance of any material term, condition or agreement and
the default continues for a period of 30 days after written notice of termination of the breach is
given to Sublicensee;

     (e) Sublicensee assigns, sublicenses, pledges, mortgages or otherwise encumbers the
intellectual property rights granted to it; or

     (f) the termination or amendment of the Master License if such termination or amendment
results in a loss of rights licensed hereunder by Sublicensor.

7.3 Termination of Agreement at Election of Sublicensee. Sublicensee may terminate this
Agreement upon giving 30 days’ written notice of termination to Sublicensor in the event of

 

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default of Sublicensor in the performance of any material term, condition or agreement and the
default continues for a period of 30 days after written notice of termination of the breach is
given to Sublicensor.

8. Sublicensee’s Obligations Upon Termination

8.1 Reversion of Rights. Upon termination of this Agreement for any reason, all rights
granted to Sublicensee under this Agreement shall cease and revert to Sublicensor. Except to the
extent approved in writing by Sublicensor, Sublicensee agrees to immediately cease and desist from
any use of any of the Licensed Marks in the Territory and to cause all of its subsidiaries to do
same. Sublicensee agrees that it will not thereafter adopt, use or refer to any trademarks,
service marks, logos, designs, trade names, trade dress, domain names, toll-free numbers or other
identification, that is derived from or is likely to be confused with, any of the Licensed Marks in
the Territory.

8.2 Name Change. Upon termination of this Agreement, Sublicensee agrees that it will
promptly take steps to cancel any trade names of Sublicensee or its subsidiaries that incorporate
any of the Licensed Marks in the Territory.

9. Indemnity. Sublicensee agrees to indemnify and hold Owner and Sublicensor and their
respective officers, directors and employees harmless from and against all claims, demands,
lawsuits, proceedings, and actions of every kind, and all costs, expenses, damages, obligations,
deficiencies, or judgments whatsoever, including, but not limited to, reasonable attorney’s fees,
and other costs and expenses, including interest and penalties, incident to the foregoing arising
out of the use of the Licensed Marks in the Territory by Sublicensee or its subsidiaries in breach
of this Agreement.

10. Limited Liability of Limited Partners of Sublicensee. The Parties acknowledge that
Sublicensee is a limited partnership formed under the laws of Bermuda, a limited partner of which
is liable for any liabilities or losses of the relevant partnership only to the extent of the
amount that such limited partner has contributed, or agreed to contribute, to the capital of the
relevant partnership and such limited partner’s pro rata share of any undistributed income. The
Parties further acknowledge that BILP General Partner Inc. is the sole general partner of
Sublicensee.

11. Governing Law; Venue. This Agreement shall be governed by and construed in accordance
with the substantive laws of the Province of Ontario and the Federal Laws of Canada applicable
therein.

12. Injunctive Relief. Sublicensee expressly acknowledges that nothing in this Agreement
or any other agreement or agreements between the Sublicensor and Sublicensee shall prevent Owner or
Sublicensor from immediately seeking injunctive relief, or any other equitable or judicial remedy,
in any forum that Owner or Sublicensor, in their sole discretion, deem appropriate to protect its
rights including its intellectual property rights.

13. Waiver and Modification. No waiver of any breach of this Agreement will constitute a
waiver of any subsequent breach, and no waiver will be effective unless in writing and signed by
the Party to be charged. This Agreement may not be amended or modified except by a writing

 

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signed by both Parties. The failure of either Party at any time to require performance by the
other of any provisions of this Agreement will in no way affect the full right of the Party to
require the performance of any provisions at any later time.

14. Severability. If any non-material provision of this Agreement, as determined by
Sublicensor in its sole discretion, is held to be invalid, illegal, or unenforceable in any respect
by a court or administrative body of competent jurisdiction, then unless otherwise agreed, this
Agreement will continue in full force and effect except for such provisions, which will be deemed
excised herefrom. In such event, the Parties hereto agree to use their best efforts to agree on
substitute provisions, which, while valid, will achieve as closely as possible the same economic
effects as the invalid provision(s). If a material provision of this Agreement, as determined by
Sublicensor at its sole discretion, is held to be invalid, illegal or unenforceable and cannot be
modified to Sublicensor’s satisfaction, this Agreement may be terminated at Sublicensor’s option.

15. Headings. The headings of the sections and subsections of this Agreement have been
inserted for convenience of reference only and do not restrict or otherwise modify any of the terms
or provisions of this Agreement.

16. Counterparts. This Agreement may be executed in one or more counterparts, each of
which will be deemed an original, but all of which together will constitute one and the same
instrument.

17. Relationship of the Parties. Nothing contained herein shall be construed to place the
Parties in a relationship of joint venturers, partners, associates or principal and agent. Neither
Party is granted the right to assume or create any obligation or responsibility for or on behalf of
the other Party or otherwise bind the other Party other that as may be expressly authorized by the
other Party in writing.

18. Successor and Assigns. This Agreement shall inure to the benefit of and be binding
upon Sublicensor, Sublicensee and their respective permitted successors and assigns.

19. Survival. All obligations of Sublicensor and Sublicensee shall expressly or by their
nature survive expiration or termination of this Agreement shall continue in full force and effect
subsequent to and notwithstanding such expiration and termination or until they are satisfied or by
their nature expire.

20. Notices. Any notice or other communication required or permitted hereunder shall be in
writing and shall be delivered personally, sent by facsimile transmission, by express courier, or
by prepaid mail (except during an interruption of postal services). Any such notice or other
communication, if mailed by prepaid mail at any time other than during a general discontinuance of
postal service due to strike, lockout or otherwise, will be deemed to have been received on the
second business day after the post marked date thereof, or if sent by facsimile, will be deemed to
have been received on the business day following the sending, or if delivered by express courier or
by hand will be deemed to have been received at the time it is delivered to the applicable address
noted below either to the individual designated below or to an individual at such address having
apparent authority to accept deliveries on behalf of the addressee. Notice of change of

 

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address will also be governed by this section. Notices and other communications will be addressed
as follows:

If to Sublicensor:

Brookfield Global Asset Management Inc

First Floor

Fitzwilton House

Wilton Place

Dublin 2, Ireland

Attn: Secretary

If to Sublicensee:

BILP General Partner Inc.

Canon’s Court

22 Victoria Street

Hamilton HM 12, Bermuda

Attn: Secretary

21. Construction. This Agreement has been prepared by each of the Parties hereto and the
terms hereof will not be construed in favor of or against any Party by reason of its participation
in the preparation.

22. Entire Agreement. This Agreement, together with the attached Schedules, sets forth the
entire agreement and understanding of Sublicensor and Sublicensee with respect to the subject
matter herein, and supersedes all prior agreements, arrangements and understandings, written or
oral.

[NEXT PAGE IS SIGNATURE PAGE]

 

 

     IN WITNESS WHEREOF, the Parties have caused this Agreement to be signed by their duly
authorized representatives having effect as of the Effective Date.

	 	 	 	 	 
	 	BROOKFIELD GLOBAL ASSET

MANAGEMENT INC.

 	 
	 	By:  	 	 
	 	 	Name:  	Scott Parsons 	 
	 	 	Title:  	Director 	 
	 
	 	BROOKFIELD INFRASTRUCTURE L.P.,

by its general partner,

BILP GENERAL PARTNER INC.

 	 
	 	By:  	 	 
	 	 	Name:  	Derek Pannell 	 
	 	 	Title:  	Director 	 

 

 

	 	 	 	 	 

SCHEDULE A

CURRENT MARKS

Canada

	 	 	 
	Mark	 	Application/Registration
	BROOKFIELD
	 	TMA472,422
	 

	BROOKFIELD & Design
	 	1,057,813
	 

	BROOKFIELD HOMES
	 	TMA476,824
	 

	HOUSE SILHOUETTE DESIGN
	 	1,057,814

US

	 	 	 
	Mark	 	Application/Registration
	BROOKFIELD
	 	  2,472,635
	 

	BROOKFIELD
	 	75/841,797
	 

	BROOKFIELD
	 	75/841,945
	 

	BROOKFIELD HOMES
	 	  2,472,636
	 

	HOUSE SILHOUETTE DESIGN
	 	  2,649,911
	 

	HOUSE SILHOUETTE DESIGN
	 	  2,445,948

EXTENDED MARKS

Canada

	 	 	 
	Mark	 	Application/Registration
	BROOKFIELD
	 	1,272,296
	 

	BROOKFIELD
	 	1,272,298

 

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	Mark	 	Application/Registration
	BROOKFIELD
	 	1,272,300
	 

	BROOKFIELD
	 	1,272,301
	 

	BROOKFIELD ASSET MANAGEMENT
	 	1,272,304
	 

	BROOKFIELD ASSET MANAGEMENT
	 	1,272,306
	 

	BROOKFIELD POWER
	 	1,272,302
	 

	BROOKFIELD TIMBER
	 	1,272,308

US

	 	 	 
	Mark	 	Application/Registration
	BROOKFIELD

	 	not yet filed (corresponds to Canadian
application 1,272,296)
	 

	BROOKFIELD

	 	not yet filed (corresponds to Canadian
application 1,272,298)
	 

	BROOKFIELD

	 	not yet filed (corresponds to Canadian
application 1,272,300)
	 

	BROOKFIELD

	 	not yet filed (corresponds to Canadian
application 1,272,301)
	 

	BROOKFIELD ASSET MANAGEMENT

	 	not yet filed (corresponds to Canadian
application 1,272,304)
	 

	BROOKFIELD ASSET MANAGEMENT

	 	not yet filed (corresponds to Canadian
application 1,272,306)
	 

	BROOKFIELD POWER

	 	not yet filed (corresponds to Canadian
application 1,272,302)
	 

	BROOKFIELD TIMBER

	 	not yet filed (corresponds to Canadian
application 1,272,308)exv4w9

 

SECURITIES PURCHASE AGREEMENT

B E T W E E N:

BROOKFIELD ASSET MANAGEMENT INC., a corporation amalgamated under the laws
of the Province of Ontario

(hereinafter called “BAM”)

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BROOKFIELD INFRASTRUCTURE HOLDINGS (CANADA) INC., a corporation incorporated
under the laws of the Province of Ontario

(hereinafter called “CanHoldco”)

RECITALS:

	A.	 	Following the winding-up of Coastal Acquisition Ltd., BAM will own 75 units (the
“Securities”) of Brookfield Timberlands Holdings L.P. (“BTH LP”), a limited partnership formed
under the laws of Manitoba;

	B.	 	BTH LP currently owns indirectly through Island Timberlands Holdings L.P. approximately
49.98% of the limited partnership units of Island Timberlands Limited Partnership, a limited
partnership formed under the laws of Manitoba, which currently owns approximately 634,000
acres of freehold timberlands located principally on Vancouver Island; and

	C.	 	In connection with the establishment of Brookfield Infrastructure Partners L.P. (“BIP”), a
publicly-traded global infrastructure partnership, and the special dividend of units of BIP to
holders of its Class A limited voting shares and Class B limited voting shares (the
“Spin-off”), BAM wishes to sell and CanHoldco wishes to purchase the Securities.

NOW THEREFORE in consideration of the mutual covenants and agreements herein contained and other
good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the
parties hereto agree as follows:

 

 

1. Purchase and Sale

     BAM agrees to sell and CanHoldco agrees to purchase all of BAM’s right, title and interest in
and to the Securities on the terms and conditions contained herein on the date of this agreement
(the “Closing Date”).

2. Purchase Price

     The purchase price of the Securities shall be equal to the fair market value of the Securities
at the date hereof (the “Fair Market Value”), which Fair Market Value is US$358,952,000 as agreed
by the parties. The purchase price shall be satisfied by the issuance by CanHoldco to BAM of
351,914 common shares in the capital stock of CanHoldco (the “Consideration”).

3. Tax Elections

     The parties intend that the transfer hereunder of the Securities be on a tax-deferred basis to
BAM for purposes of the Income Tax Act (Canada) (the “Act”) and applicable provincial income tax
statutes. BAM and CanHoldco shall jointly execute and file elections in prescribed form within the
prescribed time under section 85 of the Act and the corresponding provisions of applicable
provincial income tax statutes in respect of the transfer hereunder of the Securities in order to
give effect to this intention. The elected amounts (the “Elected Amounts”) for purpose of each
such election will be determined by BAM and CanHoldco in a manner consistent with this intention.

4. Adjustments to Purchase Price, Consideration or Elected Amounts

4.1 If BAM and CanHoldco subsequently mutually determine, or if the Canada Revenue Agency or
any other taxing authority issues, or proposes to issue, assessments or reassessments of
additional liability for taxes or any other subject by reason of asserting that the purchase
price is less than or greater than the aggregate Fair Market Value of the Securities, or
that the Consideration received by BAM is more or less than the Fair Market Value of the
Securities, or that an elected amount is more than the Elected Amount for the Securities as
determined by BAM and CanHoldco, then the purchase price, the Consideration therefor, or the
Elected Amount, as the case may be,

2

 

shall be increased or decreased as necessary but only to the extent that the purchase price
or consideration or elected amount so revised is acceptable to the parties hereto or to both
the particular taxing authority and the parties hereto, as the case may be, or is
established by a court of competent jurisdiction (after all appeal rights have been
exhausted or all time periods for appeal have expired without appeals having been taken) to
be the aggregate Fair Market Value of the Securities (in the case of the purchase price or
consideration) or the Elected Amount, as the case may be.

4.2 If the purchase price or Consideration is varied in the circumstances described in
paragraph 4.1 above, BAM and CanHoldco shall take such steps as may be necessary to reflect
properly an appropriate adjustment to the purchase price and Consideration as varied.

4.3 If an Elected Amount is varied in the circumstances described in paragraph 4.1 above,
BAM and CanHoldco shall file a revised election(s) under the provisions of section 85 of the
Act and corresponding provisions of all applicable provincial legislation to give effect to
their intention that the Elected Amounts be equal to the amounts determined by BAM and
CanHoldco.

5.         Representations and Warranties of BAM

            BAM represents and warrants to CanHoldco that:

5.1 BAM is duly incorporated and validly existing under the laws of the Province of Ontario;

5.2 BAM has the corporate power and capacity to enter into, and to perform its obligations
under, this Agreement;

5.3 the execution, delivery and performance of this Agreement and all agreements executed in
connection therewith have been duly authorized by all necessary corporate action on the part
of BAM;

3

 

5.4 this Agreement and all agreements executed in connection therewith are valid and binding
obligations of BAM, enforceable in accordance with their terms, subject to the usual
exceptions as to bankruptcy and the availability of equitable remedies; and

5.5 on the Closing Date, BAM will have good and marketable title to the Securities and the
full legal right, power and authority to sell and transfer the Securities to CanHoldco free
and clear of all liens, charges, encumbrances and adverse claims.

6.         Representations and Warranties of CanHoldco

             CanHoldco represents and warrants to BAM that:

6.1 CanHoldco is duly incorporated and validly existing under the laws of the Province of
Ontario;

6.2 CanHoldco has the corporate power and capacity to enter into, and to perform its
obligations under, this Agreement;

6.3 the execution, delivery and performance of this Agreement and all agreements executed in
connection therewith have been duly authorized by all necessary corporate action on the part
of CanHoldco;

6.4 this Agreement and all agreements executed in connection therewith are valid and binding
obligations of CanHoldco, enforceable in accordance with their terms, subject to the usual
exceptions as to bankruptcy and the availability of equitable remedies; and

6.5 CanHoldco has taken all corporate action to validly issue the Consideration and,
CanHoldco having received the Securities as consideration for the issue thereof, the
Consideration has been validly issued and is outstanding as fully paid and non-assessable
            shares.

7.         Survival

             The representations and warranties of BAM and CanHoldco will survive for a period of 18 months
from the closing of the Spin-off.

4

 

8.         Indemnity

            BAM shall indemnify and save CanHoldco harmless for and from any loss, damages or deficiencies
suffered by CanHoldco as a result of any breach of any representation or warranty on the part of
BAM contained in this Agreement or in any certificate or document delivered pursuant to or
contemplated by this Agreement, including all claims, demands, costs and expenses, including legal
fees, in respect of the foregoing.

     CanHoldco shall indemnify and save BAM harmless for and from any loss, damages or deficiencies
suffered by BAM as a result of any breach of any representation or warranty on the part of
CanHoldco contained in this Agreement or in any certificate or document delivered pursuant to or
contemplated by this Agreement, including all claims, demands, costs and expenses, including legal
fees, in respect of the foregoing.

9.         Limitation of Liability

             The aggregate maximum liability of BAM under its representations, warranties and indemnities
under this Agreement will be limited, without duplication, to the amount of the Consideration.

10.        Conditions to Closing

             The completion of the closing of the transactions contemplated herein will be subject to the
satisfaction or waiver by the parties of the following conditions:

10.1 all consents and approvals having been obtained with respect to the transactions
contemplated hereby; and

10.2 all documentation having been entered into in respect of the transactions contemplated
hereby.

11.        Closing Procedure

             On the Closing Date, BAM shall execute and deliver to CanHoldco all such documents,
certificates and instruments and do all such other acts and things as CanHoldco may consider
necessary or desirable, acting reasonably, to effectively transfer and assign the

5

 

Securities to CanHoldco and to deliver possession thereof to CanHoldco and CanHoldco shall
issue the Consideration to BAM.

12.        Further Assurances

             Each of the parties hereto shall promptly do, make, execute or deliver, or cause to be done,
made, executed or delivered, all such further acts, documents and things as the other party hereto
may reasonably require from time to time for the purpose of giving effect to this Agreement and
shall use reasonable efforts and take all such steps as may be reasonably within its power to
implement to their full extent the provisions of this Agreement.

13.        Successors and Assigns

             No party may assign its right or benefits under this Agreement without the prior written
consent of the other party hereto. The provisions of this Agreement shall enure to the benefit of
and be binding on the parties to this Agreement and their respective successors and permitted
assigns.

14.        Governing Law

             This agreement shall be governed by and construed in accordance with the laws of the Province
of Ontario and the laws of Canada applicable therein.

15.        Counterparts

             This Agreement may be signed in counterparts and each of such counterparts shall constitute an
original document and such counterparts, taken together, shall constitute one and the same
instrument.

6

 

     IN WITNESS WHEREOF the parties hereto have executed this agreement.

     DATED: November 19, 2007.

	 	 	 	 	 
	 	BROOKFIELD ASSET MANAGEMENT INC.

 	 
	 	by:  	 	 
	 	 	Name:  	Jeffrey Blidner 	 
	 	 	Title:  	Managing Partner 	 
	 
	 	BROOKFIELD INFRASTRUCTURE HOLDINGS

(CANADA) INC.

 	 
	 	by:  	 	 
	 	 	Name:  	Samuel Pollock 	 
	 	 	Title:  	Co-President

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