Common use of Section 56.4 Election Clause in Contracts

Section 56.4 Election. If requested by a party, each party agrees to make any available elections or amended elections in prescribed form (or such other form as is reasonably requested) and within the prescribed time limits pursuant to proposed section 56.4 of the Income Tax Act (Canada) as it reads as of the date of this Agreement or any amended or successor provision thereto, including any provision with retroactive application, and any analogous provision of any provincial or territorial tax statute.

Section 56.4 Election. If At the request of any Party and to the extent permitted by the Income Tax Act (Canada), the requested by Parties and any other Person that is a party, each party agrees to any of the Non-Competition Agreements shall make and file any available elections election or amended elections election in prescribed form (or such other form as is a Party may reasonably requestedrequest) and within the prescribed time limits pursuant to proposed section 56.4 subsection 56.4(7) of the Income Tax Act (Canada) as it reads as of the date of this Agreement or any amended or successor provision thereto, including any provision with retroactive application), and any analogous provision of any provincial or territorial tax statuteTax legislation.