ResMor Trust definition
Examples of ResMor Trust in a sentence
ResMor Trust has not infringed, misappropriated or otherwise conflicted with any proprietary rights of any third parties.
As of the date of this Agreement, ResMor Trust has no obligation, under any Mortgage or other Contract or applicable Law, to renew or refinance any Mortgage at its contractual maturity date; provided, that ResMor Trust is obligated pursuant to Contracts with Genworth or CMHC to offer borrowers a renewal or extension at the then-current market rate as a condition to maintaining the insurance on the related Mortgage in full force and effect.
The Financial Statements were prepared from the books and records of Seller and ResMor Trust.
Seller has delivered to Purchaser on the date hereof an accurate and complete list of leases with respect to real property leased or occupied by ResMor Trust (the “Leases”).
ResMor Trust is duly licensed, registered or qualified in each of the provinces and territories of Canada (other than Quebec where it is not registered as a trust company) in which it carries on its business to enable it to be carried on as now conducted and its assets to be owned, leased and operated.
ResMor Trust is a member in good standing with the Canada Payments Association and has all necessary authorizations to offer checking accounts to the public and to accept retail deposits.
Purchaser and Seller shall, and Seller shall cause ResMor Trust to, reasonably cooperate to develop a business plan for ResMor Trust to engage in an auto finance business and to take steps towards effecting such business plan, including developing procedures and systems, meeting with Governmental Authorities, and to engage in such other actions as reasonably requested by Purchaser in connection therewith, in each case in accordance with applicable Law.
To Seller’s Knowledge, since November 1, 2007, no trade union, council of trade unions, employee bargaining agency or affiliated bargaining agent: (i) has applied to be certified as the bargaining agent of any employees; or (ii) has applied to have ResMor Trust declared a related employer or successor employer pursuant to the applicable labor legislation.
Seller covenants and agrees to promptly notify Purchaser of any potential claims for indemnification under the Prior Purchase Agreement or the Prior Escrow Agreement of which it or ResMor Trust becomes aware prior to the Closing Date.
Seller has delivered to Purchaser all constituting documents of ResMor Trust and all rights, privileges, restrictions and conditions attached to the Trust Shares are contained therein.