Common use of Effect of Revocation of Governmental Rulings Clause in Contracts

Effect of Revocation of Governmental Rulings. If any rulings which are applied for or have been or may be obtained by the Employer holding that the payments made by the Employer under the Plan shall constitute currently deductible expenses under the Canadian Income Tax Act, as now in effect or as it may be hereafter amended, or under any other applicable federal or provincial income tax law, shall be denied, revoked or modified in such manner as to no longer be satisfactory to the Employer, all obligations of the Employer under the Plan shall cease and the Plan shall thereupon terminate and be of no further effect.

Effect of Revocation of Governmental Rulings. (a) If any rulings ruling which are applied for or have been or may be obtained by the Employer Company holding that the payments made by the Employer under the Plan shall constitute currently deductible expenses under the Canadian Income Tax Act, Chapter 63, S.C. 1970-71-72, as amended, as now in effect or as it hereafter may be hereafter amended, or under any other applicable federal or provincial income tax law, shall be denied, revoked or modified in such manner so as to be no longer be satisfactory to the EmployerCompany, all obligations of the Employer Company under the Plan shall cease and the Plan shall thereupon terminate and be of no further effecteffect (without in any way effecting the validity or operation of the Collective Bargaining Agreement).

Effect of Revocation of Governmental Rulings. (a) If any rulings ruling which are applied for or have been or may be obtained by the Employer Company holding that the payments made by the Employer under the Plan shall constitute currently deductible expenses under the Canadian Income Tax Act, R.S.C. 1985, c.1 (5th supplement), as amended, as now in effect or as it hereafter may be hereafter amended, or under any other applicable federal or provincial income tax law, shall be denied, revoked or modified in such manner so as to be no longer be satisfactory to the EmployerCompany, all obligations of the Employer Company under the Plan shall cease and the Plan shall thereupon terminate and be of no further effecteffect (without in any way effecting the validity or operation of the 2016 Collective Agreements).