Examples of MI 61-101 in a sentence
The Proposed Amendment will be subject to a separate vote by the holders of each class of Equity Shares, including a "majority of the minority" vote (in accordance with MI 61-101), which excludes the Equity Shares owned by the Founders and entities over which they exercise control.
The Arrangement requires the approval of Company Shareholders, excluding Company Shares held by any “interested party”, any “related party of an “interested Party” or any “joint actor” of any of the foregoing (as such terms are defined in MI 61-101).
However, the Special Committee and the Board (excluding the Conflicted Directors), acting in good faith, each unanimously determined that the Company may rely on the “financial hardship” exemption from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in Section 5.5(g) and Section 5.7(1)(e), respectively, of the instrument with respect to such payments and transactions.
In addition, the various payments and transactions, including the Property Transfers, to be made and implemented pursuant to the Waiver and Amendment Agreement, both considered independently as well as together as a whole, constitute a “related party transaction” for the purposes of MI 61-101.
Consequently, in relation to the Arrangement, the approval of the Arrangement Resolution will require the affirmative vote of a simple majority (more than 50%) of the votes cast by Company Shareholders virtually present or represented by proxy at the Meeting, excluding Company Shares held by any “interested party”, any “related party” of an “interested party” or any “joint actor” of the foregoing (as such terms are defined in MI 61-101).