FBDB definition
Examples of FBDB in a sentence
The Company, FBDB and the Management Shareholders agree that this Agreement shall be deemed to amend and replace paragraphs 6, 7, 8, 9, 11, 14, 23, and 25 of the ▇▇▇▇▇▇▇▇▇ Agreement in their entirety, and that such paragraphs of the ▇▇▇▇▇▇▇▇▇ Agreement are terminated and of no further force or effect, from and after the date of this Agreement.
AMONG: CREO PRODUCTS INC., a company duly incorporated under the laws of Canada, registered extraprovincially in the Province of British Columbia, and having an office at ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇, Burnaby, British Columbia (herein called the "Company") OF THE FIRST PART AND: FEDERAL BUSINESS DEVELOPMENT BANK, incorporated by special Act of Parliament of Canada, having its head office in the City of Montreal, in the Province of Quebec (herein called "FBDB") OF THE SECOND PART AND: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ AND ▇▇▇▇▇▇▇ ▇.
The Company, FBDB and the Management Shareholders agree that this Agreement shall be deemed to amend and replace the FBDB Agreement in its entirety, and that the FBDB Agreement is terminated and of no further force or effect, from and after the date of this Agreement.
The decision whether a subsidiary is conducting, or is proposed to conduct, a material portion of the Company's business shall be made form time to time by a majority of the Board of Directors of the Company which majority shall include either the director nominated by FBDB or the director nominated by STAR.
No Employee Bonus may be declared to ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ or ▇▇▇▇▇▇▇▇▇, and no Employee Reserved Shares may be issued to ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ or ▇▇▇▇▇▇▇▇▇ by the Company without the prior, written approval of the Compensation Committee which approval must include the affirmative vote of the STAR nominee or the FBDB nominee.
The said undertaking shall be returned to Fortress immediately following FBDB being released from any obligation thereunder as herein provided.
An irrevocable undertaking of FBDB in the form set forth in Schedule “J” to pay up to $820,000, as security for the due performance by Fortress of its obligations hereunder in Phase I, which undertaking will be dealt with as provided in Article 9 herein.
The Minister may at any time call upon FBDB pursuant to its undertaking under Article 4.01 (d) to reimburse the Province for all payments, costs and expenses incurred by the Province or the Minister to cure any Default, as hereinafter defined, by Fortress in the performance of its obligations under this Agreement with respect to Phase I.
Undertakings to Fortress and the Province in the form set forth in Schedule “I” from each of FBDB and Aspen to contribute to Fortress by way of equity or shareholder’s loan not less than twenty (20%) per cent of the Capital Budget to a maximum of $2,000,000 each as needed for Phase I and not to permit Fortress to repay such amounts, whether by dividend, repurchase or redemption of shares or otherwise, until after Substantial Completion of Phase I.
A quorum required for the transaction of business at a meeting of the Board will be four directors (of which one must be a nominee either of FBDB or of STAR), and there shall be a minimum of four Board meetings held at approximately three month intervals during each fiscal year that this Agreement remains in force.