Common use of Preliminary Steps Prior to the Arrangement Clause in Contracts

Preliminary Steps Prior to the Arrangement. The following preliminary events or transactions shall occur prior to, and shall be conditions precedent to, the implementation of the Arrangement. (a) The Company shall have incorporated Spinco under the BCBCA and Spinco shall have issued one common share (the “Initial Spinco Share”) to the Company. (b) The Company and Spinco shall have entered into the Spinco Contribution Agreement.