Competition Act Approval Clause Samples

Competition Act Approval. The Competition Act Approval shall have been obtained on terms satisfactory to Purchaser acting reasonably and shall be in full force and effect.

Competition Act Approval. The Transaction is a ‘‘notifiable transaction’’ for the purposes of Part IX of the Competition Act. When a transaction is a notifiable transaction under the Competition Act, certain prescribed information must be provided to the Commissioner under Part IX of the Competition Act and the transaction may not be completed until the expiry, waiver or termination of the applicable waiting period. Where a notification is made, the waiting period is 30 calendar days after the day on which the parties to the transaction submit the prescribed information, provided that, before the expiry of this period, the Commissioner has not notified the parties that he requires additional information that is relevant to the Commissioner’s assessment of the transaction (a ‘‘Supplementary Information Request’’). If the Commissioner provides the parties with a Supplementary Information Request, the parties cannot complete their transaction until 30 calendar days after compliance with such Supplementary Information Request, provided that there is no order in effect prohibiting completion at the relevant time. The Commissioner may, upon application by the parties to a proposed transaction, issue an Advance Ruling Certificate under Section 102 of the Competition Act where he is satisfied that he would not have sufficient grounds on which to apply to the Competition Tribunal (the ‘‘Tribunal’’) for an order under Section 92 of the Competition Act. Further, if the transaction to which the Advance Ruling Certificate relates is substantially completed within one year after the Advance Ruling Certificate is issued, the Commissioner cannot seek an order of the Tribunal under Section 92 of the Competition Act in respect of the transaction solely on the basis of information that is the same or substantially the same as the information on the basis of which the Advance Ruling Certificate was issued. The Commissioner may decide to challenge the Transaction under Section 92 of the Competition Act if he is of the view that the Transaction is likely to prevent or lessen competition substantially, and may also apply to the Tribunal for an injunction to prevent its closing pending the Tribunal’s determination of his challenge to the Transaction. Completion of the Transaction is subject to receipt of Competition Approval, meaning: (a) the issuance of an Advance Ruling Certificate; or (b) the applicable waiting period under Section 123 of the Competition Act has expired or been waived and a No Action L...

Competition Act Approval. (a) If required, in connection with the Competition Approval, the Investor, with such assistance and information from the Issuer as it reasonably requires, may at any time, but shall within twenty Business Days after notice of any redemption or retraction in respect of the Redeemable Shares is delivered in accordance with the terms thereof, duly file with the Commissioner, a request for an Advance Ruling Certificate or in the alternative a no action letter together with a waiver of the obligation to notify pursuant to paragraph 113(c) of the Competition Act. If an Advance Ruling Certificate or a no action letter together with a waiver of the obligation to notify shall not have been obtained within ten Business Days after the filing of the request therefor, either party may, at any time thereafter acting reasonably, notify the other party that it intends to file a notification pursuant to Part IX of the Competition Act, in which case each party shall file its respective notification pursuant to Part IX of the Competition Act as promptly as practicable but in any event within ten Business Days following the date on which the notifying party notified the other party of its intention to file such notification. (b) Subject to applicable Law, the parties shall cooperate with one another in connection with obtaining the Competition Approval including providing or submitting on a timely basis, and as promptly as practicable, all documentation and information that is required, or in the reasonable opinion of the Investor, advisable, in connection with obtaining the Competition Approval and use their reasonable best efforts to ensure that such information does not contain a misrepresentation. Without limiting the generality of the foregoing, the Investor and the Issuer shall (i) respond as promptly as reasonably practicable under the circumstances to any inquiries received from any Governmental Entity for additional information or documentation, (ii) not extend any waiting period without the prior written consent of the other party (such consent not to be unreasonably withheld, conditioned or delayed) and (iii) not enter into any agreement with any Governmental Entity not to consummate the redemption or retraction of the Redeemable Shares without the prior written consent of the other party (such consent not to be unreasonably withheld, conditioned or delayed). The Investor shall pay 100% of the filing fees associated with obtaining the Competition Approval. (c) The...

Competition Act Approval. (a) The Purchaser and the Company will co-operate with each other upon and subject to the provisions of Sections 4.5(c) and 4.5(d) and the further provisions of this Section 4.6, and use their commercially reasonable efforts to obtain the Competition Act Approval and the Purchaser shall, subject to the Company providing such information and assistance as the Purchaser and its counsel may reasonably request, make a submission to the Commissioner requesting the issuance of an advance ruling certificate under section 102 of the Competition Act, or in the alternative, a No Action Letter and a waiver of the obligation to notify and supply information under Part IX of the Competition Act pursuant to section 113(c) of the Competition Act. If mutually agreed by the Parties, the Parties shall each file with the Commissioner notifications under Part IX of the Competition Act as soon as practicable and within ten Business Days of such request. (b) The Purchaser shall be responsible for and pay the filing fee in respect of the Competition Act Approval. (c) For greater certainty but without limiting the rights and obligations of the Parties under Sections 4.5(c) and 4.5(d), the Purchaser will determine and direct the efforts to obtain the Competition Act Approval, including leading and providing all communication and strategy relating to such efforts.

Competition Act Approval. The Competition Act Approval shall have been obtained.

Competition Act Approval. The obligations of the Parties to complete the purchase and sale contemplated hereby is subject to the Competition Act Approval having been obtained on or before October 31, 1997. and if such condition is not satisfied the Parties shall be released from their obligations to complete the purchase and sale contemplated hereby.

Competition Act Approval. (a) The Fund and IRE and/or any of their Subsidiaries, as applicable, shall: (i) take promptly all reasonable actions necessary to make the filings required, or which the Fund and IRE jointly elect to make in respect of the Competition Act Approval (the “Competition Filing”); and (ii) comply at the earliest practicable date with any request for additional information or documentary material received by the Fund or IRE or any of their Subsidiaries from a Governmental Entity with respect to a Competition Filing. (b) Each of the Fund and IRE shall pay 50% of any and all application or filing fees with respect to any and all applications or filings in respect of the Competition Act Approval. (c) All requests and enquiries from any Governmental Entity in respect of the Competition Act Approval shall be dealt with by the Fund and IRE in consultation with each other, and the Fund and IRE shall promptly co-operate with and provide all necessary information and assistance reasonably required by such Governmental Entity in respect of the Competition Act Approval upon being requested to do so by such authority or by the other party.

Competition Act Approval. The Competition Act Approval shall have been obtained and not have been revoked.

Competition Act Approval. (a) For the purposes of this Agreement and in particular this Section 1.3: