Common use of Authority to Carry on Business Clause in Contracts

Authority to Carry on Business. The Exchange Trustee represents to the Trust and/or TCPL that, at the date of execution and delivery by it of this Agreement, it is authorized to carry on the business of a trust company in the Province of Ontario but if, notwithstanding the provisions of this Section 6.13, it ceases to be so authorized to carry on business, the validity and enforceability of this Agreement, and the other rights granted in or resulting from the Exchange Trustee being a party to this Agreement, shall not be affected in any manner whatsoever by reason only of such event, but the Exchange Trustee shall, within 90 days after ceasing to be authorized to carry on the business of a trust company in the Province of Ontario, either become so authorized or resign in the manner and with the effect specified in Article 9.

Appears in 9 contracts

Samples: Share Exchange Agreement (TransCanada Trust), Share Exchange Agreement (TransCanada Trust), Share Exchange Agreement (Transcanada Pipelines LTD)

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Authority to Carry on Business. The Exchange Indenture Trustee represents to the Trust and/or TCPL that, at the date of execution and delivery by it of this Agreement, it is authorized to carry on the business of a trust company in the Province of Ontario but if, notwithstanding the provisions of this Section 6.135.13, it ceases to be so authorized to carry on business, the validity and enforceability of this Agreement, and the other rights granted in or resulting from the Exchange Indenture Trustee being a party to this Agreement, shall not be affected in any manner whatsoever by reason only of such event, but the Exchange Indenture Trustee shall, within 90 days after ceasing to be authorized to carry on the business of a trust company in the Province of Ontario, either become so authorized or resign in the manner and with the effect specified in Article 98.

Appears in 9 contracts

Samples: Off Agreement (TransCanada Trust), Assignment and Set Off Agreement (TransCanada Trust), Assignment and Set Off Agreement (Transcanada Pipelines LTD)

Authority to Carry on Business. The Exchange Trustee represents to the Trust and/or TCPL that, RVI Sub and RVI that at the date of execution and delivery by it of this Agreement, agreement it is authorized to carry on the business of a trust company in the Province of Ontario but if, notwithstanding the provisions of this Section 6.137.14, it ceases to be so authorized to carry on business, the validity and enforceability of this Agreement, agreement and the other rights granted in or resulting from Voting Rights, the Exchange Trustee being a party to this AgreementPut Right, the Exchange Right and the Automatic Exchange Rights shall not be affected in any manner whatsoever by reason only of such event; provided, but however, the Exchange Trustee shall, within 90 days after ceasing to be authorized to carry on the business of a trust company in the Province of Ontario, either become so authorized or resign in the manner and with the effect specified in Article 910 hereof.

Appears in 3 contracts

Samples: Voting and Exchange Trust Agreement (API Nanotronics Corp.), Voting and Exchange Trust Agreement (Rubincon Ventures Inc), Voting and Exchange Trust Agreement (Rubincon Ventures Inc)

Authority to Carry on Business. The Exchange Trustee represents to the Trust and/or TCPL that, Corporation and the Parent that at the date of execution and delivery by it of this Agreement, trust agreement it is authorized to carry on the business of a trust company in the Province of Ontario but if, notwithstanding the provisions of this Section 6.13section 7.14, it ceases to be so authorized to carry on business, the validity and enforceability of this Agreementtrust agreement and the Voting Rights, the Exchange Right and the other rights granted in or resulting from the Exchange Trustee being a party to this Agreement, trust agreement shall not be affected in any manner whatsoever by reason only of such event, event but the Exchange Trustee shall, within 90 days after ceasing to be authorized to carry on the business of a trust company in the Province of Ontario, either become so authorized or resign in the manner and with the effect specified in Article 910 hereof.

Appears in 2 contracts

Samples: Combination Agreement (Electronic Retailing Systems International Inc), Trust Agreement (Smithfield Foods Inc)

Authority to Carry on Business. The Exchange Trustee represents to the Trust and/or TCPL that, Corporation and ParentCo that at the date of execution and delivery by it of this Agreement, agreement it is authorized to carry on the business of a trust company in the Province of Ontario but if, notwithstanding the provisions of this Section 6.138.14, it ceases to be so authorized to carry on business, the validity and enforceability of this Agreement, agreement and the other rights granted in or resulting from Voting Rights, the escrow provisions, the Exchange Trustee being a party to this AgreementPut Right, the Exchange Right and the Automatic Exchange Rights shall not be affected in any manner whatsoever by reason only of such event; provided, but however, the Exchange Trustee shall, within 90 days after ceasing to be authorized to carry on the business of a trust company in the Province of Ontario, either become so authorized or resign in the manner and with the effect specified in Article 911 hereof.

Appears in 1 contract

Samples: Voting and Exchange Trust Agreement (Conexant Systems Inc)

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Authority to Carry on Business. The Exchange Trustee represents to the Trust and/or TCPL thatCorporation, Dutchco and the Parent that at the date of execution and delivery by it of this Agreement, Agreement it is authorized to carry on the business of a trust company in the Province of Quebec and the Province of Ontario but if, notwithstanding the provisions of this Section 6.13section 8.14, it ceases to be so authorized to carry on business, the validity and enforceability of this Agreement, the Covenants, the Voting Rights, the Exchange Right and the other rights granted in or resulting from the Automatic Exchange Trustee being a party to this Agreement, Rights shall not be affected in any manner whatsoever by reason only of such event, event but the Exchange Trustee shall, within 90 days after ceasing to be authorized to carry on the business of a trust company in the Province of Quebec and in the Province of Ontario, either become so authorized or resign in the manner and with the effect specified in Article 911.

Appears in 1 contract

Samples: Voting and Exchange Trust Agreement (Discreet Logic Inc)

Authority to Carry on Business. The Exchange Trustee represents to the Trust and/or TCPL thatCorporation, Dutchco and the Parent that at the date of execution and delivery by it of this Agreement, Agreement it is authorized to carry on the business of a trust company in the Province of Quebec and the Province of Ontario but if, notwithstanding the provisions of this Section 6.13section 8.14, it ceases to be so authorized to carry on business, the validity and enforceability of this Agreement, the Covenants, the Voting Rights, the Exchange Right and the other rights granted in or resulting from the Automatic Exchange Trustee being a party to this Agreement, Rights shall not be affected in any manner whatsoever by reason only of such event, event but the Exchange Trustee shall, within 90 days after ceasing to be authorized to carry on the business of a trust company in the Province of Quebec and in the Province of Ontario, either become so authorized or resign in the manner and with the effect specified in Article 9.11. 8.15

Appears in 1 contract

Samples: Voting and Exchange Trust Agreement Agreement (Autodesk Inc)

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