CTA Clearance definition

CTA Clearance means, in respect of the proposed Transactions and the acquisition by Purchaser of the Purchased Shares and Purchased Units from Vendor, Purchaser and Vendor shall have received the notice from the Minister of Transport provided for under subsection 53.1(4) of the CTA or, if such notice has not been received, the completion of the proposed Transactions and the acquisition by Purchaser of the Purchased Shares and Purchased Units from Vendor shall not be prohibited under subsection 53.2(1) of the CTA.
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CTA Clearance means, in respect of the transactions contemplated by this Agreement, the notice received by the Purchaser and the Company from the Minister of Transport provided for under subsection 53.1(4) of the CTA or, if such notice has not been received, the determination by the Parties, both acting reasonably, that the completion of the transactions contemplated by this Agreement is not prohibited under subsection 53.2(1) of the CTA;
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Examples of CTA Clearance in a sentence

  • Concurrent with the filings made in connection with the Competition Act Approval, the Parties shall file a copy of the pre-merger notification forms or filings filed in connection with the Competition Act Approval and the Purchaser shall file a copy of the request for an ARC and a submission in support of obtaining the CTA Clearance with the Minister of Transport in accordance with the CTA.

  • Notwithstanding anything to the contrary contained in this Section 5.4, the Purchaser shall be entitled to direct the competition/anti-trust Law and Investment Canada Act process regarding the transactions contemplated by this Agreement, including any actions or steps taken to obtain the Competition Act Approval, the CTA Clearance, the HSR Approval or the Investment Canada Act Approval, and in any investigation by a Governmental Authority or other Person.