Common use of Good Standing of the Corporation Clause in Contracts

Good Standing of the Corporation. The Corporation (i) is a corporation existing under the laws of Ontario and is and will at the Closing Time be current and up-to-date with all material filings required to be made and in good standing under the Business Corporations Act (Ontario), (ii) has all requisite corporate power and capacity to own, lease and operate its properties and assets, including its Business Assets, and to conduct its business as now carried on by it or proposed to be carried on by it as described in the Offering Documents, and (iii) has all requisite corporate power and authority to create, issue and sell the Offered Shares and to grant the Over-Allotment Option and to execute, deliver and perform its obligations under this Agreement.

Good Standing of the Corporation. The Corporation Corporation: (i) is a corporation existing under the laws of Ontario and is and will at the Closing Time be current and up-to-date with all material filings required to be made and in good standing under the Business Corporations Act (Ontario), ; (ii) has all requisite corporate power and capacity to own, lease and operate its properties and assets, including its Business Assets, and to conduct its business as now carried on by it or proposed to be carried on by it as described in the Offering Documents, ; and (iii) has all requisite corporate power and authority to create, issue and sell the Offered Shares and Shares, to grant the Over-Allotment Option and to execute, deliver and perform its obligations under this Agreement.