Common use of Application of the Tax Act Clause in Contracts

Application of the Tax Act. The Parties hereby acknowledge and agree that the transactions contemplated herein are not intended to give rise to any income tax liability whatsoever, and it is their intention that the Share Exchange contemplated hereby shall be effected pursuant to the provisions of Section 85.1 of the Tax Act, unless that provision is inapplicable in respect of any particular Shareholder, in which case the nonǦapplication of Section 85.1 to a particular Shareholder is not intended to alter the application of this provision to any other Shareholder.

Application of the Tax Act. The Parties hereby acknowledge and agree that the transactions contemplated herein are Transaction is not intended to give rise to any income tax liability whatsoever, and it is their intention that the Share Exchange transactions contemplated hereby shall be effected pursuant to the provisions of Section section 85.1 of the Tax Act, unless that provision is inapplicable in respect of any particular Target Shareholder, in which case the nonǦapplication non-application of Section section 85.1 to a particular Target Shareholder is not intended to alter the application of this provision to any other Target Shareholder.

Application of the Tax Act. The Parties hereby acknowledge and agree that the transactions contemplated herein are not intended to give rise to any income tax liability whatsoever, and it is their intention that the Share Exchange contemplated hereby shall be effected pursuant to the provisions of Section section 85.1 of the Tax Act, unless that provision is inapplicable in respect of any particular ShareholderVendor, in which case the nonǦapplication non-application of Section section 85.1 to a particular Shareholder Vendor is not intended to alter the application of this provision to any other ShareholderVendor.

Application of the Tax Act. The Parties hereby acknowledge and agree that the transactions contemplated herein are not intended to give rise to any income tax Tax liability whatsoever, and it is their intention that the Share Exchange contemplated hereby shall be effected pursuant to the provisions of Section section 85.1 of the Tax Act, unless that provision is inapplicable in respect of any particular ShareholderVendor, in which case the nonǦapplication non-application of Section section 85.1 of the Tax Act to a particular Shareholder Vendor is not intended to alter the application of this provision to any other ShareholderVendor.

Application of the Tax Act. The Parties hereby acknowledge and agree that the transactions contemplated herein are not intended to give rise to any income tax liability whatsoever, and it is their intention that the Share Exchange contemplated hereby shall be effected pursuant to the provisions of Section 85.1 of the Tax Act, unless that provision is inapplicable in respect of any particular Shareholder, in which case the nonǦapplication non‐application of Section 85.1 to a particular Shareholder is not intended to alter the application of this provision to any other Shareholder.