No Collateral Benefit Clause Samples
The No Collateral Benefit clause prevents a party from receiving additional, unintended advantages or compensation beyond what is expressly provided for in the contract. In practice, this means that if a party suffers a loss or is entitled to a remedy under the agreement, they cannot also claim extra benefits from other sources, such as insurance payouts or third-party recoveries, related to the same event. This clause ensures that compensation is limited to actual losses and avoids situations where a party might be unjustly enriched by receiving multiple recoveries for the same issue.
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No Collateral Benefit. To the knowledge of the Company, no related party of the Company (within the meaning of MI 61-101) together with its associated entities, beneficially owns or exercises control or direction over 1% or more of the outstanding Shares, except for related parties who will not receive a “collateral benefit” (within the meaning of MI 61-101) as a consequence of the transactions contemplated by this Agreement.
No Collateral Benefit. Except for the persons disclosed in Section 5.2(l) of the Yerbaé Disclosure Letter, no related party of Yerbaé (within the meaning of MI 61-101), together with its associated entities, beneficially owns or exercises control or direction over 1% or more of the outstanding Yerbaé Shares, except for related parties who will not receive a “collateral benefit” (within the meaning of MI 61-101) as a consequence of the transactions contemplated by this Agreement. The Yerbaé Disclosure Letter sets forth all Yerbaé Shares that are required by MI 61-101 to be excluded from voting on the Arrangement Resolution.
No Collateral Benefit. As of the date hereof, to the knowledge of the Parent and the Purchaser, except as set forth in the Company Disclosure Letter, no related party of the Company (within the meaning of MI 61-101) is, or will be, entitled to receive a “collateral benefit” (within the meaning of such instrument) as a consequence of any transaction contemplated under this Agreement; or is, or will be, a part to any “connected transaction” (within the meaning of such instrument) to any transaction contemplated under this Agreement.
No Collateral Benefit. Except as disclosed in Section (35) of the Company Disclosure Letter, no Person shall receive a “collateral benefit” (within the meaning of MI 61-101) from the Company or its affiliates as a consequence of the Arrangement.
No Collateral Benefit. To the knowledge of the Company, no related party of the Company (within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions), together with its associated entities, beneficially owns or exercises control or direction over 1% or more of the outstanding Shares, except for related parties who will not receive a “collateral benefit” (within the meaning of such instrument) as a consequences of the transactions contemplated by this Agreement.
No Collateral Benefit. To the knowledge of the Company, no related party of the Company (within the meaning of Multilateral Instrument 61-101 – Insider Bids, Issuer Bids, Going Private Transactions and Related Party Transactions) together with its associated entities, beneficially owns or exercises control or direction over 1% or more of the outstanding Common Shares, except for related parties who will not receive a “collateral benefit” (within the meaning of such instrument) as a consequence of the transactions contemplated by this Agreement.
No Collateral Benefit. As of the date hereof, to the knowledge of Parent and Purchaser, no “related party” of the Company (within the meaning of MI 61-101) will receive a “collateral benefit” (within the meaning of MI 61-101) as a consequence of the Transactions, or is, or will be, a party to any “connected transaction” (within the meaning of MI 61-101) to any of the Transactions.
No Collateral Benefit. To the Company’s Knowledge, as of the date hereof, no “related party” of the Company (within the meaning of Multilateral Instrument 61-101 – Protection of Minority Holders in Special Transactions (“MI 61-101”)) will receive a “collateral benefit” (within the meaning of MI 61-101) as a consequence of the Transactions or will be a party to any “connected transaction” (within the meaning of MI 61-101) to any of the Transactions.
No Collateral Benefit. To the knowledge of Offeror, no related party of the Offeror or its subsidiaries, together with its associated entities, beneficially owns or exercises control or direction over 1% or more of the CanniMed Shares, except for related parties who will not receive a “collateral benefit” (other than as permitted under National Instrument 62-104 - Take-Over Bids and Issuer Bids) as a consequence of the transactions contemplated by this Agreement.
No Collateral Benefit. No related party of IPC Opco (within the meaning on Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions), either individually or together with such party’s associated entities, beneficially owns or exercised control or direction over 1% or more of the outstanding IPC Opco Shares, except for related parties who will not receive a “collateral benefit” (within the meaning of such Rule) as a consequence of the transactions contemplated this Agreement, including the Arrangement.