Common use of Articles of Arrangement and Effective Date Clause in Contracts

Articles of Arrangement and Effective Date. (a) The Company shall file the Articles of Arrangement with the Director, and the Effective Date shall occur, on the date which is three Business Days after the date on which all conditions set forth in Section 5.1 to Section 5.5 have been satisfied or waived (excluding conditions that, by their terms, cannot be satisfied until the Effective Date, but subject to the satisfaction or, where not prohibited, the waiver by the applicable Party or Parties in whose favour the condition is, of those conditions as of the Effective Date), unless another time or date is agreed to in writing by the Parties. From and after the Effective Time, the Arrangement will have all of the effects provided by applicable Law, including the OBCA. (b) The closing of the Arrangement (the “Closing”) will take place at the offices of Blake, Xxxxxxx & Xxxxxxx LLP, 000 Xxx Xx., Xxxxx 0000, Xxxxxxx, Xxxxxxx, X0X 0X0 or at such other location as may be agreed upon by the Parties.

Articles of Arrangement and Effective Date. (a) The Company shall file the Articles of Arrangement with the Director, and the Effective Date shall occur, on the date which is three Business Days after the date on which all conditions set forth in Section 5.1 to Section 5.5 have been satisfied or waived (excluding conditions that, by their terms, cannot be satisfied until the Effective Date, but subject to the satisfaction or, where not prohibited, the waiver by the applicable Party or Parties in whose favour the condition is, of those conditions as of the Effective Date), unless another time or date is agreed to in writing by the Parties. From and after the Effective Time, the Arrangement will have all of the effects provided by applicable Law, including the OBCA. (b) The closing of the Arrangement (the “Closing”) will take place at the offices of Blake, Xxxxxxx Cxxxxxx & Xxxxxxx Gxxxxxx LLP, 000 100 Xxx Xx., Xxxxx 0000, Xxxxxxx, Xxxxxxx, X0X 0X0 or at such other location as may be agreed upon by the Parties.