Redecan definition
Examples of Redecan in a sentence
The Redecan Nominees must be, at the time of their nomination, and the Redcan Directors shall at all times while serving on the Board, meet the qualification requirements to serve as a Director under the OBCA, Applicable Securities Laws, the rules of any stock exchange on which the Shares are listed and maintain the required security clearances under the Cannabis Act (Canada) and the Cannabis Regulations, SOR/2018-144.
The Redecan Directors shall be entitled to receive the identical compensation and benefits being paid to the other non-employee Directors of the Company provided that each such Redecan Director is not also one of the Company’s employees and to be indemnified by the Company on the same terms and be covered by the same insurance provisions and afforded the same coverage as other members of the Board.
All of the Redecan Licences and all other material licenses, and all material correspondence or material written notices received from Health Canada in relation to any Acquired Entity have been provided to or made available to the Purchaser.
To the Company’s knowledge, MNP LLP is independent with respect to Redecan (as defined below) as required by Canadian Securities Laws and the rules of professional conduct applicable to auditors in each of the provinces and territories of Canada and is an independent registered public accounting firm as required by the Securities Act and the Exchange Act and the Rules and Regulations.
Each Covenantor acknowledges that the Confidential Information is vital, sensitive, confidential and proprietary to the Business and Redecan, as the case may be.
Except as set out in Section 4.19 of the Sellers’ Disclosure Letter, no consent, waiver or approval is required to be obtained in order to maintain the Redecan Licences in full force and effect immediately upon the consummation of the Transactions.
The Parties acknowledge and agree that Redecan and the Purchaser will suffer irreparable harm if a Covenantor breaches any of its obligations set out in this Agreement and that monetary damages will be inadequate compensation.
Pursuant to a share purchase agreement dated May 28, 2021 (the “Purchase Agreement”) between the Redecan Sellers (as defined below) and the Purchaser, the Redecan Sellers have agreed to sell to the Purchaser and the Purchaser has agreed to purchase from the Redecan Sellers, all of the issued and outstanding shares in the capital of 5048963 Ontario Inc.
Notwithstanding that this Agreement shall only become effective as of [•], the Employer shall recognize the Employee’s prior service with Redecan, which commenced on [DATE], for all purposes.
Each Covenantor acknowledges that the employees of Redecan are critical to the success of the Business and that it is necessary to protect Redecan from the loss of such employees.