Common use of New General Partner Clause in Contracts

New General Partner. The New General Partner must be resident in Canada for purposes of the Income Tax Act and must become a party to this Agreement and the Cooperation Agreement by signing counterparts thereof, whereupon the New General Partner shall be bound by all of the provisions of this Agreement and the Cooperation Agreement and shall assume the obligations, duties and liabilities of the General Partner under such agreements as of the date that the New General Partner becomes the general partner.

New General Partner. A New General Partner must not be a “non-resident” of Canada within the meaning of the Tax Act. The New General Partner must be resident in Canada for purposes of the Income Tax Act and must will become a party to this Agreement and the Cooperation Agreement Securityholders’ Agreements by signing counterparts thereof, whereupon the New General Partner shall a counterpart to such agreements and will agree to be bound by all of the provisions of this Agreement the agreements and the Cooperation Agreement and shall to assume the obligations, duties and liabilities of the General Partner under such the agreements as of from the date that the New General Partner becomes the a general partner.

New General Partner. The New General Partner must A new general partner shall not be resident in a “non-resident” of Canada for purposes within the meaning of the Income Tax Act and must will become a party to this Agreement and the Cooperation Agreement by signing counterparts thereof, whereupon the New General Partner shall a counterpart hereof and will agree to be bound by all of the provisions of this Agreement hereof and the Cooperation Agreement and shall to assume the obligations, duties and liabilities of the General Partner under such agreements hereunder as from the date the new general partner becomes a party to this Agreement. The new general partner must acquire and hold, at all times while it is General Partner of the date that the New General Partner becomes the general partnerPartnership, at least one Unit.