Common use of Authority to Carry on Business Clause in Contracts

Authority to Carry on Business. The Trustee represents to Cableshare and Source that at the date of execution and delivery by it of this 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 7.14, it ceases to be so authorized to carry on business, the validity and enforceability of this trust agreement and the Voting Rights, the Exchange Right and the Automatic Exchange Rights shall not be affected in any manner whatsoever by reason only of such event but the 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 10.

Appears in 1 contract

Samples: Voting and Exchange Trust Agreement (Source Media Inc)

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Authority to Carry on Business. The Trustee represents to Cableshare and Source the Issuer that at the date of execution and delivery by it of this trust agreement Indenture it is authorized to carry on the business of a trust company in the Province provinces of Ontario and Alberta but if, notwithstanding the provisions of this section 7.14Section 11.14, it ceases to be so authorized to carry on business, the validity and enforceability of this trust agreement Indenture and the Voting Rights, the Exchange Right and the Automatic Exchange Rights securities issued hereunder shall not be affected in any manner whatsoever by reason only of such event but the Trustee shall, within 90 days after ceasing to be authorized to carry on the business of a trust company in either of the Province provinces of OntarioOntario or Alberta, either become so authorized or resign in the manner and with the effect specified in Article 10Section 11.2.

Appears in 1 contract

Samples: Trust Indenture (Ascend Wellness Holdings, Inc.)

Authority to Carry on Business. The Voting Trustee represents to Cableshare the Parent and Source Exchangeco that at the date of execution and delivery by it of this trust 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 7.148.14, it ceases to be so authorized to carry on business, the validity and enforceability of this trust agreement Agreement and the Voting Rights, the Exchange Right and the Automatic Exchange Rights shall not be affected in any manner whatsoever by reason only of such event but the Voting Trustee shall, within 90 ninety (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 10.

Appears in 1 contract

Samples: Exchange and Voting Trust Agreement (Peress Sass)

Authority to Carry on Business. The Trustee represents to Cableshare the Corporation, Swissco and Source the Parent that at the date of execution and delivery by it of this 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 7.14, it ceases to be so authorized to carry on business, the validity validly and enforceability of this trust agreement and the Voting Rights, the Exchange Right and the Automatic Exchange Rights shall not be affected in any manner whatsoever by reason only of such event but the 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 10.

Appears in 1 contract

Samples: Voting and Exchange Trust Agreement (Silicon Graphics Inc /Ca/)

Authority to Carry on Business. The Trustee represents to Cableshare the Corporation and Source the Parent that at the date of execution and delivery by it of this 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 7.14, it ceases to be so authorized to carry on business, the validity and enforceability of this trust agreement and the Voting Rights, the Exchange Right and the Automatic Exchange Rights shall not be affected in any manner whatsoever by reason only of such event but the 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 10.

Appears in 1 contract

Samples: Voting and Exchange Trust Agreement (Learning Co Inc)

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Authority to Carry on Business. The Trustee represents to Cableshare the Corporation and Source BackWeb that at the date of execution and delivery by it of this trust 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 7.14, it ceases to be so authorized to carry on business, the validity and enforceability of this trust agreement Agreement and the Voting Rights, the Exchange Right and the Automatic Exchange Rights shall not be affected in any manner whatsoever by reason only of such event but the 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 1010 of this Agreement.

Appears in 1 contract

Samples: Voting and Exchange Trust Agreement (Backweb Technologies LTD)

Authority to Carry on Business. The Trustee represents to Cableshare Company and Source Parent that at the date of execution and delivery by it of this trust 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 7.146.16, it ceases to be so authorized to carry on business, the validity and enforceability of this trust agreement Agreement and the Voting Rights, the Exchange Right Rights and the Automatic Exchange Rights shall not be affected in any manner whatsoever by reason only of such event but the 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 109.

Appears in 1 contract

Samples: Voting and Exchange Trust Agreement (Photon Dynamics Inc)

Authority to Carry on Business. The Trustee represents to Cableshare ServiceSoft Canada and Source ServiceSoft that at the date of execution and delivery by it of this trust 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 7.14, it ceases to be so authorized to carry on business, the validity and enforceability of this trust agreement Agreement and the Voting Rights, the Exchange Right Rights and the Automatic Exchange Rights shall not be affected in any manner whatsoever by reason only of such event but the 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 1010 of this Agreement.

Appears in 1 contract

Samples: Voting and Exchange Trust Agreement (Servicesoft Technologies Inc)

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