Residents of Canada Sample Clauses

Residents of Canada. Non-residents of Canada for the purposes of the Tax Act who purchase strip bonds or strip bond packages relating to Underlying Bonds issued or guaranteed by the Government of Canada or issued by a province or territory of Canada and which were issued after April 15, 1966 will not be liable for income tax in Canada (including withholding tax) on any amounts paid or credited with respect to the strip bonds or strip bond packages if such purchasers do not use or hold the strip bonds or strip bond packages in carrying on business in Canada and their sole connection with Canada is the acquisition and ownership of the strip bonds or strip bond packages. Impact on Yield-to-Maturity of Dealer Mark-ups or Commissions Paid on Strip Bonds‌ Dealer mark-ups or commissions on strip bonds are quoted as a fixed amount per $100 of maturity amount of the strip bond purchased. The commission charged is generally not affected by the purchase price of the strip bond. Thus, the commission remains the same for strip bonds with a longer term to maturity and lower purchase price. The commissions quoted by investment dealers for strip bonds generally range between 25 cents per $100 of maturity amount to $1.50 per $100 of maturity amount. Commissions are typically at the higher end of this range for small transaction amounts, reflecting the higher costs of processing a small trade. The commissions generally decline for larger transaction sizes. The table below illustrates the after-commission yield to an investor in strip bonds with different before-commission yields and with different terms to maturity. All of the yield numbers are semi-annual. For example, a strip bond with a term to maturity of one year, a before-commission yield of 4.5% and a commission of 25 cents per $100 of maturity amount has an after commission yield of 4.234%. The before-commission cost of this particular strip bond will be $94.72 per $100 of maturity amount while the after-commission cost will be $94.97 per $100 of maturity amount. Similarly, a strip bond with a term to maturity of 25 years, a before-commission yield of 6.5% and a commission of $1.50 per $100 of maturity amount has an after commission yield of 6.204%. The before-commission cost of this particular strip bond will be $20.21 per $100 of maturity amount while the after-commission cost will be $21.71 per $100 of maturity amount. Commission or dealer mark-up amount Yield before commission or dealer mark-up Term to maturity in years and yield af...
Sample 1
AutoNDA by SimpleDocs
Residents of Canada. The following portion of the summary is generally applicable to a shareholder who is a non-resident or is deemed to be a non-resident of Canada and who has never been a resident of Canada for the purposes of the Act. The consequences to shareholders who are not resident in Canada, upon the exchange of CSA Shares or Goldcorp Shares for New Goldcorp Common Shares on the Amalgamation, will be the same as described under the heading "Certain Income Tax Considerations -- Canada -- Residents of Canada -- Exchange of Shares of the Amalgamating Corporations for New Goldcorp Common Shares under the Amalgamation". NEW GOLDCORP COMMON SHARES A holder will generally not be subject to tax under the Act on any capital gain realized on the disposition of New Goldcorp Common Shares, unless such shares are "taxable Canadian property" to the holder for purposes of the Act and the holder is not entitled to relief under an applicable tax treaty. New Goldcorp Common Shares will not be taxable Canadian property of a holder unless either, at any time within the 60-month period that ends at the time of the disposition of the New Goldcorp Common Shares, 25% or more of the issued shares of any class or series of shares of New Goldcorp were owned by the holder, by persons with whom the holder did not deal at arm's length or by a combination thereof (determined on the assumption that such holders exercised all the rights to acquire New Goldcorp Common Shares owned by them) or the CSA Shares or Goldcorp Shares that were exchanged for New Goldcorp Common Shares on the Amalgamation were taxable Canadian property. The CSA Shares or Goldcorp Shares would have been taxable Canadian property if, at any time within the 60-month period ending on the Amalgamation, 25% or more of the issued shares of any class or series of shares of CSA or Goldcorp were owned by the holder, by persons with whom the holder did not deal at arm's length, or by a combination thereof (determined on the assumption that such holders exercised all rights to acquire CSA Shares or Goldcorp Shares owned by them). If the New Goldcorp Common Shares are taxable Canadian property to a holder who is a resident of the United States and entitled to the benefits of the U.S. Convention, any gain arising on the sale of such shares will not be subject to tax in Canada unless the value of the New Goldcorp Common Shares is derived principally from real property situated in Canada. FOR HOLDERS OF NEW GOLDCORP COMMON SHARES ACQUIRED PUR...
Sample 1
Residents of Canada. You will agree to the Master Rental Contract when you click on the “I Accept” button during the registration for the Emerald Club.
Sample 1
Residents of Canada. The following portion of the summary is generally applicable to a Note Holder who, at all relevant times, for the purposes of the Tax Act, is or is deemed to be resident in Canada, and holds the notes as capital property (a “Resident Note Holder”). Generally, the notes will be considered to be capital property to a Resident Note Holder provided that the Resident Note Holder does not hold the notes in the course of carrying on a business of buying and selling securities and has not acquired them in one or more transactions considered to be an adventure or concern in the nature of trade. Certain Resident Note Holders whose notes might not otherwise qualify as capital property may be entitled to have the notes, and all other “Canadian securities” owned by the Resident Note Holder in the year and in each subsequent taxation year, deemed to be capital property by making an irrevocable election permitted by subsection 39(4) of the Tax Act. Such Resident Note Holders should consult their own tax advisors as to whether this election is available and advisable, having regard to their own particular circumstances.
Sample 1
Residents of Canada. The following portion of the summary is generally applicable to a Holder that, at all relevant times for purposes of the Tax Act, is or is deemed to be resident in Canada (a “Resident Holder”). Certain Resident Holders that might not otherwise be considered to hold their Common Shares as capital property may, in certain circumstances, be entitled to have their Common Shares and all other “Canadian securities” (as defined in the Tax Act) owned in the taxation year of the election and all subsequent taxation years deemed to be capital property by making the irrevocable election permitted by subsection 39(4) of the Tax Act. Rights are not “Canadian securities” for these purposes; accordingly, the characterization of Rights as capital property is unaffected by a Resident Holder’s making an election pursuant to subsection 39(4) of the Tax Act. The following portion of the summary does not apply to a Resident Holder: (i) that is a “financial institution” for purposes of section 142.2 of the Tax Act, (ii) that is a “specified financial institution” as defined for purposes of the Tax Act, (iii) that is a corporation that is, or becomes as part of a transaction or event or series of transactions or events that includes the acquisition of the Rights or Common Shares, controlled by a non-resident corporation for the purposes of the rules in proposed section 212.3 of the Tax Act, (iv) to which the “functional currency” reporting rules in section 261 of the Tax Act apply, or (v) an interest in which is a “tax shelter investment” for purposes of the Tax Act. Such Holders should consult their own tax advisors.
Sample 1
Residents of Canada. To the knowledge of each of the Seller Parties after due inquiry, immediately after the Closing, less than 10% the holders (beneficial or otherwise) of the Ordinary Shares of the Company are residents of Canada, and less than 10% of the Ordinary Shares of the Company are beneficially owned by residents of Canada. The Seller Parties acknowledge and agree that Classroom has relied solely on the accuracy of the representations of each Seller Party contained in this Agreement in respect of the offer, issuance, sale or delivery to Classroom of the Purchased Shares under the circumstances contemplated by, and on the terms set forth in, this Agreement.
Sample 1

Related to Residents of Canada

  • Subsidiaries and Investments The Company does not own, directly or indirectly, any capital stock or other equity, ownership or proprietary interest in any corporation, partnership, association, trust, joint venture or other entity (each a "Company Subsidiary").

  • Foreign Subsidiaries Subject to the following sentence, in the event that, at any time, Foreign Subsidiaries have, in the aggregate, (i) total revenues constituting 5% or more of the total revenues of Borrower and its Subsidiaries on a consolidated basis, or (ii) total assets constituting 5% or more of the total assets of Borrower and its Subsidiaries on a consolidated basis, promptly (and, in any event, within 30 days after such time) the Borrower shall cause one or more of such Foreign Subsidiaries to become Subsidiary Guarantors and to have their Equity Interests pledged, each in the manner set forth in Section 8.12(a), such that, after such Subsidiaries become Subsidiary Guarantors, the non-guarantor Foreign Subsidiaries in the aggregate shall cease to have revenues or assets, as applicable, that meet the thresholds set forth in clauses (i) and (ii) above. Notwithstanding the foregoing, no Foreign Subsidiary shall be required to become a Subsidiary Guarantor, xxxxx x xxxx on any of its assets in favor of the Lenders, or shall have its Equity Interests pledged to secure the Obligations, to the extent that becoming a Subsidiary Guarantor, granting a lien on any of its assets in favor of the Lenders or providing such pledge would result in adverse tax consequences for Borrower and its Subsidiaries, taken as a whole; provided that, if a Foreign Subsidiary is precluded from becoming a Subsidiary Guarantor or having all of its Equity Interests pledged as a result of such adverse tax consequences, to the extent that such Foreign Subsidiary is a “first tier” Foreign Subsidiary, Borrower shall pledge (or cause to be pledged) 65% of the total number of the Equity Interests of such Foreign Subsidiary to the Lenders to secure the Obligations.

  • Subsidiaries; Investments Borrower does not own any stock, partnership interest or other equity securities except for Permitted Investments.

  • Subsidiaries and Affiliates of Borrower To the extent the context of any provisions of this Agreement makes it appropriate, including without limitation any representation, warranty or covenant, the word "Borrower" as used in this Agreement shall include all of Borrower's subsidiaries and affiliates. Notwithstanding the foregoing however, under no circumstances shall this Agreement be construed to require Lender to make any Loan or other financial accommodation to any of Borrower's subsidiaries or affiliates.

  • Certain Agreements of the Company The Company agrees with the several Underwriters that:

  • Subsidiaries of the Company The Company does not own or control, directly or indirectly, any corporation, association or other entity other than the subsidiaries listed in Exhibit 21 to the Registration Statement.

  • Additional Foreign Subsidiaries Notify the Administrative Agent promptly after any Person becomes a Material First Tier Foreign Subsidiary, and at the request of the Administrative Agent, promptly thereafter (and, in any event, within 45 days after such request, as such time period may be extended by the Administrative Agent in its sole discretion), cause (i) the applicable Credit Party to deliver to the Administrative Agent a Foreign Pledge Agreement pledging 65% of the total outstanding voting Equity Interests (and 100% of the non-voting Equity Interests) of any such new Material First Tier Foreign Subsidiary and a consent thereto executed by such new Material First Tier Foreign Subsidiary (including if applicable, original certificated Equity Interests (or the equivalent thereof pursuant to the Applicable Laws and practices of any relevant foreign jurisdiction) evidencing the Equity Interests of such new Material First Tier Foreign Subsidiary, together with an appropriate undated stock or other transfer power for each certificate duly executed in blank by the registered owner thereof), (ii) such Person to deliver to the Administrative Agent such opinions, documents and certificates referred to in Section 6.1 as may be reasonably requested by the Administrative Agent, (iii) such Person to deliver to the Administrative Agent such updated Schedules to the Loan Documents as requested by the Administrative Agent with regard to such Person and (iv) such Person to deliver to the Administrative Agent such other documents as may be reasonably requested by the Administrative Agent, all in form, content and scope reasonably satisfactory to the Administrative Agent.

  • Mergers, Subsidiaries, Etc No Credit Party shall directly or indirectly, by operation of law or otherwise, (a) form or acquire any Subsidiary, or (b) merge with, consolidate with, acquire all or substantially all of the assets or Stock of, or otherwise combine with or acquire, any Person.

  • Agreements of the Company The Company agrees with the several Underwriters as follows:

Time is Money Join Law Insider Premium to draft better contracts faster.