Common use of GST Election Clause in Contracts

GST Election. The Vendors and the Purchaser shall elect jointly pursuant to the provisions of Subsection 167(1) of the Excise Tax Act by completing at or prior to Closing all prescribed forms and related documents in such manner as is prescribed, so that for purposes of the Excise Tax Act, no GST is payable in respect of the purchase and sale of the Assets. The Purchaser covenants that, at or immediately subsequent to the Time of Closing, it will file with Revenue Canada, Customs and Excise, the joint election made under Section 167 of the Excise Tax Act by registered mail and will provide the Vendors with written confirmation of such filing.

GST Election. The Vendors Vendor and the Purchaser shall elect jointly pursuant to the provisions of Subsection 167(1) of the Excise Tax Act by completing at or prior to Closing all prescribed forms and related documents in such manner as is prescribed, so that for purposes of the Excise Tax Act, no GST is payable in respect of the purchase and sale of the Assets. The Purchaser covenants that, at or immediately subsequent to the Time of Closing, it will file with Revenue Canada, Customs and Excise, the joint election made under Section 167 of the Excise Tax Act by registered mail and will provide the Vendors Vendor with written confirmation of such filing.

GST Election. The Vendors Seller and the Purchaser Buyer shall elect jointly pursuant to the provisions of Subsection subsection 167(1) of the Excise Tax Act by completing at or prior to Closing all prescribed forms and related documents in such manner as is prescribed, so that for purposes of the Excise Tax Act, no GST is payable in respect of the purchase and sale of the Purchased Assets. The Purchaser Buyer covenants that, at or immediately subsequent to the Time time of Closing, it will file with Revenue Canada, Customs and Excise, the joint election made under Section section 167 of the Excise Tax Act by registered mail mail, and will provide the Vendors Seller with written confirmation of such filing.