Toolholder assembly

A toolholder assembly having a central longitudinal axis, comprising:

• a toolholder having a rearwardly facing toolholder shank and an axial rearward end with an internal bore intersecting the axial rearward end, the toolholder shank having an outer surface that has a non-circular cross-section and at least one locking aperture that extends from the outer surface to the internal bore;
• a base member having an axial forward end and a bore intersecting the axial forward end, wherein the bore extends rearwardly therefrom along the central longitudinal axis for receiving the toolholder shank;
• a canister configured for receipt in the bore of the base member, the canister having an outer surface and a canister bore that extends longitudinally through the canister, the canister having at least one locking passageway that extends from the outer surface of the canister to the canister bore and the at least one locking passageway is in communication with the at least one locking aperture of the toolholder shank;
• a lock rod with an axial forward and an axial rearward end, the lock rod having at least one depression formed adjacent the axial forward end thereof and the at least one depression is in communication with the at least one locking passageway and the at least one locking aperture;
• a locking member movably positioned at least partially in the at least one depression, the at least one locking passageway and/or the at least one locking aperture;
• and
• an actuating element configured for cooperation with the axial rearward end of the lock rod for moving the lock rod within the canister in a rearward and forward reciprocating motion.