Reporting on First Nations Equity Ownership Sample Clauses

Reporting on First Nations Equity Ownership. The Seller will, on each of the first, second and third anniversaries of COD, deliver to the Buyer a statutory declaration made by the Seller in the form attached as Appendix H confirming that, on the applicable anniversary date, the Project First Nations hold, in aggregate, at least 25% of the Equity Ownership of the Seller, including a specification of the percentage of the Equity Ownership of the Seller held by each of the Project First Nations on the applicable anniversary date. Any failure by the Seller to deliver a statutory declaration as required by this section 6.10(d) will be considered to be a “material default” for the purposes of section 16.1(q).
Sample 1
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Reporting on First Nations Equity Ownership. (i) The Seller will, on each of the first, second and third anniversaries of COD, deliver to the Buyer a statutory declaration made by the Seller in the form attached as Appendix G confirming that, on the applicable anniversary date:
Sample 1
Reporting on First Nations Equity Ownership. (i) The Seller will, on each of the first, second and third anniversaries of COD, deliver to the Buyer a statutory declaration made by the Seller in the form attached as Appendix G confirming that, on the applicable anniversary date:‌ (A) one or more Project First Nations hold, in aggregate, at least 25% of the Equity Ownership of the Seller; and (B) each of the Proposal First Nations continues to hold Equity Ownership of the Seller, and including a specification of the percentage of the Equity Ownership of the Seller held by each of the Proposal First Nation(s) and any other Project First Nations on the applicable anniversary date. Any failure by the Seller to deliver a statutory declaration as required by this section 6.10(d)(i) will be considered to be a “material default” for the purposes of section 15.1(q). (ii) The Seller will, on each of the first, second and third anniversaries of COD, deliver to the Buyer a letter from each of the Proposal First Nation(s) and from any other Project First Nation that holds Equity Ownership of the Seller on the relevant anniversary, in substantially the form attached as Appendix H, confirming the level of Equity Ownership of the Seller held by the applicable Project First Nation, which letter(s) must collectively demonstrate that the First Nations Equity Ownership on the relevant anniversary will be at least 25% of the Equity Ownership of the Seller and that each of the Proposal First Nations continues to hold Equity Ownership of the Seller.
Sample 1

Related to Reporting on First Nations Equity Ownership

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