Section 167 Election. If available, at the Closing, each Vendor and the Purchaser shall execute jointly an election under section 167 of the Excise Tax Act (Canada) and, if applicable, to have the sale of the Purchased Assets take place on a GST/HST-free basis under Part IX of the Excise Tax Act (Canada). The Purchaser shall file the elections in the manner and within the time prescribed by the relevant legislation.
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