Competition Act Application Clause Samples
Competition Act Application. (a) Purchaser shall, as soon as is reasonably practicable (and in any event within five (5) Business Days following execution of this Agreement, or such other date as the Parties agree) file with the Commissioner a request for an ARC (or, in the event that the Commissioner is not prepared to issue such certificate, a No Action Letter and waiver under paragraph 113(c) of the Competition Act relieving the Parties from the obligation to file under Part IX of the Competition Act). Vendor shall furnish to Purchaser such information and assistance as Purchaser may reasonably request in order to prepare and file such request for an ARC. If requested by Vendor or Purchaser acting reasonably, Purchaser and Vendor shall each file a notification under section 114(1) of the Competition Act in respect of the Transaction within ten (10) Business Days of such request.
(b) Purchaser shall take any and all actions necessary to obtain the Competition Act Approval as soon as reasonably practicable. Without limiting the generality of the foregoing, in connection with obtaining the Competition Act Approval, Vendor and Purchaser shall, and shall cause its Affiliates to:
(i) cooperate and consult with each other in the preparation and submission of all applications, notices, filings, submissions, undertakings, correspondence and communications of any nature (including responses to requests for information and inquiries from any Governmental Authority) required in connection with obtaining the Competition Act Approval, including providing one another with advance copies thereof and advance copies of any related filings and correspondence associated therewith, and shall consider in good faith one another's comments in relation thereto;
(ii) not take any action that would reasonably be expected to have the effect of delaying, impairing or impeding the receipt of the Competition Act Approval and shall not discuss or agree with any Governmental Authority to extend any applicable waiting period or to otherwise delay Closing without the prior knowledge and written consent of the other Party;
(iii) respond promptly to any request or notice from the Competition Bureau, the Commissioner or any other Governmental Authority to supply additional information that is relevant to the Transaction in respect of obtaining the Competition Act Approval;
(iv) promptly notify one another of any developments related to obtaining the Competition Act Approval, including providing one another with copies ...
Competition Act Application. Purchaser shall promptly (and, in any event, within five (5) Business Days following the execution of this Agreement), file a request for an advance ruling certificate under the Competition Act (Canada) in respect of the transaction contemplated herein, and the applicable filing fee and all taxes thereon shall be paid by Purchaser. Vendor shall cooperate with and provide reasonable assistance to Purchaser in the preparation of such request and compilation of information required to accompany such request. Purchaser shall provide to Vendor in advance copies of all applications and filings for approval by Vendor, such approval not to be unreasonably withheld or delayed. Purchaser shall provide Vendor with copies of all such approvals immediately upon receipt of same.
Competition Act Application. (a) Purchaser shall promptly (and, in any event within five (5) Business Days following execution of this Agreement) file with the Commissioner a request for an advance ruling certificate pursuant to the Competition Act (or, in the event that the Commissioner is not prepared to issue such certificate, a No Action Letter and waiver under paragraph 113(c) of the Competition Act relieving the Parties from the obligation to file under Part IX of the Competition Act) and Vendor shall in a timely manner furnish Purchaser with such information and assistance as may be reasonably requested in order to prepare and file such request for an advance ruling certificate.
(b) Vendor and Purchaser shall use commercially reasonable efforts to respond promptly to any request or notice from the Commissioner pursuant to Part IX of the Competition Act, or a Person authorized by the Commissioner, requiring Vendor or Purchaser, to supply additional information that is relevant to the Commissioner’s assessment of the transactions contemplated by this Agreement.
(c) Subject to Applicable Law, Vendor and Purchaser shall consult with each other, and provide each other with reasonable opportunity to review and comment on any filings, applications and submissions made under the Competition Act to be sent by or on behalf of Purchaser, and to review all notices and correspondence received from the Competition Bureau with respect to all such filings, applications and submissions made under the Competition Act and Vendor shall use its commercially reasonable efforts to cooperate with and assist Purchaser in the preparation and making of all such filings, applications and submissions and obtaining the Competition Act Approval.
(d) All applicable filing fees in connection with the Competition Act Approval shall be shared, one half by Vendor and one half by Purchaser.