Vendors definition
Examples of Vendors in a sentence
Based and relying on the representations and warranties set forth in Section 3.1 and Section 4.1 hereof, the Purchasers are deemed to purchase and acquire the Purchased Shares from the Vendors and the Vendors are deemed to sell and transfer their respective Purchased Shares (per the Vendor Holding Amounts) to the Purchasers, free and clear of all Encumbrances in consideration for the payment of the Purchase Price by the Purchasers effective as of the Closing Time.
The Purchasers have due and sufficient right, authority and capacity to enter into this Agreement on the terms and conditions herein set forth and to purchase the legal and beneficial title and ownership of the Purchased Shares from the Vendors, and to perform their obligations hereunder.
Provided that the Purchased Shares are listed on the TSX on the Closing Date, the Purchasers will not make any withholdings on, or in respect of, the Purchase Price payable to the Vendors pursuant to section 116 of the Income Tax Act (Canada).
The Vendors are the beneficial owners of an aggregate of 1,157,749 Purchased Shares (as defined herein) representing, as of the date hereof, approximately 1.6% of the issued and outstanding Common Shares (as defined herein) in the capital of Greenfire Resources Ltd., a corporation existing under the laws of the Province of Alberta (the "Company").
The Vendors hereby acknowledges receipt of the wire transfers in immediately available funds payable to the Vendors, as the Vendors directed, in the aggregate amount of the Purchase Price.