Competition Act Clearance definition
Competition Act Clearance means that, with regard to the Transactions, either that (i) the Commissioner shall have issued an advance ruling certificate pursuant to section 102 of the Competition Act, and such advance ruling certificate shall not have been rescinded or amended, or (ii) (a) the statutory waiting period under section 123 of the Competition Act shall have expired or have been terminated by the Commissioner, or the Commissioner shall have waived the obligation to submit a notification pursuant to paragraph 113(c) of the Competition Act, and (b) the Commissioner shall have issued a No-Action Letter, and such letter shall not have been rescinded or amended;
Competition Act Clearance means, with respect to the Amalgamation, either: (a) the Commissioner has issued an ARC, which ARC shall not have been rescinded or amended; or (b) (i) any applicable waiting period, including any extension of a waiting period, under Section 123 of the Competition Act shall have expired or been terminated, or the requirement to submit a notification shall have been waived under paragraph 113(c) of the Competition Act, and (ii) unless waived by the Amalgamating Corporations, the Amalgamating Corporations shall have received a No-Action Letter without any condition or on conditions that are acceptable to the Amalgamating Corporations, in their reasonable judgment, which No-Action Letter shall not have been rescinded or amended;
Competition Act Clearance means with respect to the transactions contemplated by this Agreement, the following: (i) the issuance of an advance ruling certificate by the Commissioner of Competition under subsection 102(1) of the Competition Act; or (ii) (a) the expiry or termination of the waiting period under section 123 of the Competition Act or a waiver of the obligation to provide notification in accordance with Part IX of the Competition Act under paragraph 113(c) of the Competition Act and (b) the issuance of written confirmation from the Commissioner of Competition that he does not, at that time, intend to make an application under section 92 of the Competition Act.
Examples of Competition Act Clearance in a sentence
If required, the Canada Competition Act Clearance shall have been received.
All costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby will be paid by the Party incurring such costs and expenses, except for those costs and expenses incurred in connection with obtaining the Competition Act Clearance, which shall be borne by the Purchasers.
The responsibility for payment of the required filing fees and applicable Taxes thereon payable in connection with the Competition Act Clearance will be for the account of Buyer and such expenses will include any fines, penalties and other costs resulting from the failure to make any such filings as a result of the Buyer’s actions or failure to act.
Buyer shall use its best efforts to obtain Competition Act Clearance.
This Agreement will terminate and the obligations of the Parties hereunder will terminate if the Closing does not occur on or prior to November 8, 2024 (as may be extended pursuant to this Section 12.2, the "Outside Date"); provided that, if the sole reason the Closing has not occurred prior to November 8, 2024 is the inability of the Parties to obtain the Competition Act Clearance, then such date may be extended by the mutual written consent of the Parties for up to 60 days, in 30-day increments.
More Definitions of Competition Act Clearance
Competition Act Clearance means the earliest of (a) the issuance by the Commissioner of an advance ruling certificate under section 102 of the Competition Act in respect of the transactions contemplated by this Agreement; or (b) either: (i) the expiry or termination of the applicable waiting period under section 123 of the Competition Act; or (ii) waiver of the obligation to submit a notification under Part IX of the Competition Act pursuant to paragraph 113(c) of the Competition Act; and, in the case of either (i) or (ii), the Commissioner has notified BPY and the Trust that he does not, at the time of such notification, intend to make an application under section 92 of the Competition Act in respect of the transactions contemplated by this Agreement;
Competition Act Clearance means (i) either the applicable waiting period under section 123 of the Competition Act shall have expired or been waived, or a waiver under subsection 113(c) of the Competition Act shall have been issued by the Commissioner of Competition, and (ii) any applicable waiting period under a Timing Agreement shall have expired or been earlier terminated.
Competition Act Clearance means (a) both of (i) the expiry, waiver, or termination of any applicable waiting periods, including any extension of a waiting period, under Section 123 of the Competition Act, and (ii) the advisement by the Commissioner in writing to the Offeror that the Commissioner does not, at this time, intend to make an application under Section 92 of the Competition Act, or (b) the issuance of an ARC issued by the Commissioner pursuant to Section 102 of the Competition Act in respect of the transactions contemplated by the Support Agreement;
Competition Act Clearance means either of the following:
Competition Act Clearance means, with respect to the transactions contemplated by the Arrangement Agreement, that (i) the Commissioner shall have issued (and not rescinded or amended) to the Purchaser an advance ruling certificate under subsection 102(1) of the Competition Act, or (ii) (a) the waiting period under Section 123 of the Competition Act shall have expired or been terminated or the notification requirement shall have been waived pursuant to Section 113(c) of the Competition Act, and, unless such requirement is waived in writing by the Purchaser, (b) the Commissioner shall have issued (and not rescinded or amended) to the Purchaser a No Action Letter.
Competition Act Clearance means the occurrence of one or more of the following in respect of the transactions contemplated herein: (i) the Commissioner shall have issued an ARC and that ARC has not been amended or rescinded prior to the Closing; or (ii) both: (A) the relevant waiting period under section 123 of the Competition Act shall have expired or been terminated or the obligation to notify and supply information in accordance with Part IX of the Competition Act shall have been waived by the Commissioner under subsection 113(c) of the Competition Act; and (B) unless such requirement is waived in writing by the Purchasers, the Commissioner shall have delivered a No Action Letter and such No Action Letter shall not have been amended or rescinded prior to the Closing;
Competition Act Clearance means that either (i) the Commissioner shall have issued an advance ruling certificate under section 102 of the Competition Act in respect of the transactions contemplated by this Agreement; or (ii) (a) the applicable waiting period under section 123 of the Competition Act shall have expired or been terminated or the obligations of the parties to make a pre-merger notification filing under Part IX of the Competition Act shall have been waived in accordance with paragraph 113(c) of the Competition Act, and (b) the parties shall have been advised in writing by the Commissioner that she is of the view that grounds do not then exist to initiate proceedings under the merger provisions of the Competition Act in respect of the transactions contemplated by this Agreement;