If a Player drafted at age 20 or older is a bona fide college student at the time of his selection or becomes a bona fide college student while his drafting Club retains exclusive rights, then his drafting Club shall retain those rights until the later of: (a) the second June 1 following the date of his selection, or (b) thirty (30) days after NHL Central Registry receives notice that the Player is no longer a bona fide college student; provided that if the Player: (1) is in his fourth year of college and has commenced his fourth year of NCAA eligibility and the Player ceases to be a bona fide college student on or after January 1 of an academic year, or (2) is in his fourth year of college, is scheduled to graduate from college at the end of his fourth year and the Player ceases to be a bona fide college student on or after January 1 of an academic year, or (3) remains a bona fide college student through the graduation of his college class, then in the 20 ARTICLE 8 8.6-8.6 circumstances described in (1) or (2) or (3), the Club shall retain the exclusive right of negotiation for such Player's services through and including August 15 of that calendar year.
For purposes of the above provisions, the term "graduation of his college class" shall mean the class with which the Player is scheduled to graduate during his final semester of attendance (as opposed to his matriculating class (the class with which he is expected to graduate as of the date of his original enrollment)). For purposes of clarity, a Player's graduating class may change during his tenure in college.
Furthermore, a Player shall be deemed to be scheduled to graduate from college if, at the conclusion of his fourth year of college he would have been within five percent (5%) of the minimum number of credits required to graduate, provided, such determination shall be made assuming that in such fourth year of college Player earned at least the number of credits equal to the average number of credits for which he had been enrolled during his first three years of college. It shall be the Player's responsibility to promptly provide evidence (i.e., official school transcripts and requirements) that he was or was not scheduled to graduate. Absent evidence to the contrary, NHL Central Registry shall treat a Player as if he was scheduled to graduate or remained a bona fide college student through the graduation of his college class. Furthermore, a Player who is removed from his Club's Reserve List as a result of the operation of the above provisions shall be a draft-related Unrestricted Free Agent effective upon such removal.
Any Club that retains the exclusive rights to a Player who is a bona fide college student may request, at any time, that such Player promptly provide a current official school transcript and the school's graduation requirements.
As a general matter, the above provisions were not intended to cut off, and shall not have the effect of cutting off, a Club's exclusive negotiating rights during the period that a Player remains in college.