Collateral Benefit Sample Clauses
The Collateral Benefit clause defines the rights or advantages that a party may receive from a contract, which are not the direct subject of the agreement but arise as a secondary effect. For example, if a party receives compensation or insurance payouts related to the contract's subject matter, these may be considered collateral benefits. This clause typically clarifies whether such benefits should be deducted from damages or otherwise affect the parties' obligations. Its core function is to prevent double recovery and ensure fairness by specifying how indirect gains are treated in the event of a dispute or loss.
POPULAR SAMPLE Copied 1 times
Collateral Benefit. The City agrees to pay up to $100 per month to any eligible affected retiree; eligibility is as defined in the sub paragraphs below.
1. Employees hired prior to July 1, 2011 and who are retiring with at least twenty
Collateral Benefit. Except as disclosed in the Company Disclosure Letter, to the knowledge of the Company, no related party of the Company (within the meaning of MI 61-101) together with its associated entities, beneficially owns or exercises control or direction over 1% or more of the outstanding Company Shares, except for related parties who will not receive a “collateral benefit” (within the meaning of MI 61-101) as a consequence of the Arrangement and the transactions contemplated herein.
Collateral Benefit. No "related party" of the Corporation (within the meaning of MI 61¬101) will receive a "collateral benefit" (within the meaning of MI 61-101) as a consequence of the transactions contemplated by this Agreement.
Collateral Benefit. No related party of the Company (within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”)) known to the Purchaser will receive a “collateral benefit” (within the meaning of MI 61-101) in connection with the transactions contemplated by this Agreement.
1. Consent of landlords in relation to leases with respect to the following properties: Store #19 – Maple Ridge, British Columbia Store#138 – Brantford, Ontario Store #180 – Dartmouth, Nova Scotia
2. Consent of Royal Bank of Canada under credit agreement between the Company and Royal Bank of Canada dated October 17, 2008, as amended by the first amendment dated January 28, 2009; the second amendment dated August 14, 2009; the third amendment dated July 5, 2010; the fourth amendment dated August, 2010; the fifth amendment dated February 25, 2011; the sixth amendment dated May 5, 2011; and the letter from Royal Bank of Canada for breach of covenants dated May 3, 2011.
Collateral Benefit. Schedule 4.26 of the Company Disclosure Schedules lists all "collateral benefits" (within the meaning of MI 61-101) entitled to be received by related parties (within the meaning of MI 61-101) of the Company as a consequence of the Merger and the transactions herein.
Collateral Benefit. To the knowledge of Company, no “related party” of Company or its Subsidiaries, together with its associated entities, (within the meaning of MI 61-101) is, or will be, entitled to receive a “collateral benefit” (within the meaning of such instrument) as a consequence of any Contemplated Transaction.
Collateral Benefit. Except as set forth in the Disclosure Letter, to the knowledge of Company, no “related party” of Company or its Subsidiaries, together with its associated entities, (within the meaning of MI 61-101) is, or will be, entitled to receive a “collateral benefit” (within the meaning of such instrument) as a consequence of any Contemplated Transaction, and no such Person receiving any such “collateral benefit”, together with its associated entities, beneficially owns or exercises control or direction over 1% or more of the outstanding Company Shares. Full particulars of such benefits will be disclosed in the Circular and in respect of any such Person who, together with its associated entities, beneficially owns or exercises control or direction over 1% or more of the outstanding Company Shares; (i) such Person has disclosed to an Independent Committee of the Company the amount of consideration such Person expects to receive for Company Securities beneficially owned by such Person in connection with the Completed Transaction; (ii) the Independent Committee, acting in good faith, determines that the value of the benefit, net of any offsetting costs is less than 5% of the value in (i); and (iii) such determination of the Independent Committee will be disclosed in the Circular.
Collateral Benefit. As of the date hereof, to the knowledge of XS, no Related Party of XS (within the meaning of MI 61-101) together with its associated entities, beneficially owns or exercises control or direction over 1% or more of the outstanding XS Shares, except for
(i) Related Parties who will not receive a “collateral benefit” (within the meaning of MI 61-101) as a consequence of the transactions contemplated by this Agreement; or (ii) Related Parties whose votes will be excluded for the purpose of calculating the majority approval percentage as required by Sections 2.3(c)(iv) and (v).