Common use of Selected Definitions Clause in Contracts

Selected Definitions. “CBCA Plan of Arrangement” means the plan of arrangement under the Canada Business Corporations Act pursuant to which, among other things, all of the Company's Existing Notes will be exchanged for Second Lien Notes and common shares to be implemented pursuant to proceedings under the Canada Business Corporations Act, subject to the terms and conditions set forth in definitive documents to be agreed to by the Company, the Existing Lenders and the Existing Noteholders (the time for completion of such transactions, the “Closing”) “Closing Cash Election Option” means the use by the Company of up to $5,000,000 of proceeds of the Credit Facility on the closing date to fund payments to either the Company’s existing shareholders and/or the lenders under the Existing Credit Agreement to repurchase and/or redeem the shareholdings in the capital stock of the Company either immediately before or concurrently with the closing of the CBCA Plan of Arrangement.