Common use of Forest Act Clause in Contracts

Forest Act. (i) The Purchaser shall have received all notices to proceed and other consents required under the Forest Act (British Columbia) for the transfer of the Purchased Assets to the Purchaser, including a notice to proceed for the transfer of the Timber Tenures to the Purchaser issued by the Minister of Forests and Range pursuant to section 54(2)(e) of the Forest Act (British Columbia); (ii) the Minister of Forests and Range has entered into an agreement with the Purchaser in a form acceptable to the revenue minister (as that term is used in Section 54(2) of the Forest Act) in a form acceptable to the Purchaser, acting reasonably, making arrangement for the payment of the Timber Tenure Cure Costs pursuant to Section 54(2)(b)(iv) of the Forest Act; and (iii) no rights of any of the Sellers under any of the Timber Tenures are under suspension, in whole or in part, under Sections 76 or 78 of the Forest Act;