Examples of FT Purchasers in a sentence
This indemnity is in addition to and not in derogation of any other recourse, rights or remedies the FT Purchasers may have against the Company.
While the Scheme is expected to yield the benefit of implementing the RPRS for the Group, thereby removing any uncertainty regarding the Group’s compliance with such RPRS, and is also expected to have an impact on the potential ability to make distributions described above, it is not expected to have a material impact on how the Group conducts its day to day business.
The Company has no reason to believe that it will be unable to incur (or be deemed to incur), on or after the Closing Date and on or before the Termination Date or that it will be unable to renounce to the FT Purchasers, effective on or before December 31, 2020, Qualifying Expenditures in an amount equal to the Commitment Amount and the Company has no reason to expect any reduction of such amounts by virtue of subsection 66(12.73) of the Tax Act.
The Corporation hereby agrees to incur (or be deemed to incur) Resource Expenses in an amount equal to the Commitment Amount on or after the Closing Time and on or before the Termination Date in accordance with the Tax Act and the Subscription and Renunciation Agreement in respect of the FT Shares and agrees to renounce to the FT Purchasers, with an effective date no later than December 31, 2018, Resource Expenses in an amount equal to the Commitment Amount.
The Corporation shall deliver to the FT Purchasers, on or before February 15, 2011, the relevant Prescribed Forms (including T-101 Forms), fully completed and executed, renouncing to each FT Purchaser, Resource Expenses in an amount equal to the Commitment Amount applicable to such FT Purchaser with an effective date of no later than December 31, 2010, such delivery constituting the authorization of the Corporation to the FT Purchasers to file such Prescribed Forms with applicable taxation authorities.
The Company shall file with the CRA, within the time prescribed by subsection 66(12.68) of the Tax Act, the forms prescribed for the purposes of such legislation together with a copy of the FT Unit Subscription Agreements or any “selling instrument” contemplated by such legislation and shall forthwith following such filing provide to the FT Purchasers a copy of such form certified by an officer of the Company.
Unless required to do so pursuant to subsection 66(12.73) of the Tax Act, the Company shall not reduce the amount renounced to the FT Purchasers pursuant to subsection 66(12.6) or 66(12.66) of the Tax Act.
If the Company amalgamates with any one or more companies, any shares issued to or held by the FT Purchasers as a replacement for the FT Unit Shares comprising the FT Units as a result of such amalgamation will qualify, by virtue of subsection 87(4.4) of the Tax Act as “flow- through shares” as defined in subsection 66(15) of the Tax Act, and in particular will not be “prescribed shares” as defined in section 6202.1 of the regulations to the Tax Act.
The Company shall enter into all necessary agreements (including internal back-to-back agreements if required) to retain all such books and records as may be required to support the renunciation of Qualifying Expenditures contemplated by this Agreement and the FT Subscription Agreements and, upon reasonable notice, shall make such books and records available for inspection and audit by or on behalf of the FT Purchasers, at the FT Purchaser’s sole expense.
For certainty, the foregoing indemnity shall have no force or effect and the FT Purchasers shall not have any recourse or rights of action to the extent that such indemnity would otherwise cause the FT Unit Shares or the FT Unit Warrants to be “prescribed shares” or “prescribed rights” within the meaning of section 6202.1 of the regulations to the Tax Act.