Common use of Restriction on Sale Clause in Contracts

Restriction on Sale. Subject to Section 2.3, the Articles and the LLC Agreement, the Shareholders shall not sell, directly or indirectly, any Multiple Voting Shares or Units pursuant to a take-over bid (as defined in applicable Securities Laws) under circumstances in which applicable Securities Laws would have required the same offer to be made to the Holders if the sale by the Shareholders had been a sale of the Subordinate Voting Shares rather than such Multiple Voting Shares or Units, but otherwise on the same terms. For the purposes of this Section 2.2, it shall be assumed that the offer that would have resulted in the sale of such Subordinate Voting Shares by such Shareholders would have constituted a take-over bid under applicable Securities Laws, regardless of whether this actually would have been the case, and the varying of any material term of an offer shall be deemed to constitute the making of a new offer. For the avoidance of doubt, the determination of whether an offer constitutes a take-over bid (as defined under applicable Securities Laws) for purposes of this Section 2.2 shall not be made by reference solely to the number of issued and outstanding Subordinate Voting Shares.

Restriction on Sale. Subject to Section 2.3, the Articles 2.3 and the LLC AgreementArticles, each of the Shareholders shall not selltransfer, directly or indirectly, any Multiple Super Voting Shares or Units pursuant to a take-over bid (as defined in applicable Securities Lawssecurities legislation) under circumstances in which applicable Securities Laws securities legislation would have required the same offer to be made to the SVS Holders or the MVS Holders, as applicable, if the sale by the Shareholders such Shareholder had been a sale of the Subordinate Voting Shares or Multiple Voting Shares, as applicable, rather than such Multiple Super Voting Shares or UnitsShares, but otherwise on the same terms. For the purposes of this Section 2.2section, it shall be assumed that the offer that would have resulted in the sale of such Subordinate Voting Shares or Multiple Voting Shares by such Shareholders Shareholder would have constituted a take-take- over bid under applicable Securities Lawssecurities legislation, regardless of whether this actually would have been the case, and the varying of any material term of an offer shall be deemed to constitute the making of a new offer. For the avoidance of doubt, the determination of whether an offer constitutes a take-over bid (as defined under in applicable Securities Lawssecurities legislation) for purposes of this Section 2.2 shall not be made by reference solely to the number of issued and outstanding Subordinate Voting Shares or Multiple Voting Shares, as applicable.

Restriction on Sale. Subject to Section 2.32.3 and the Articles, the Articles and the LLC Agreement, the Shareholders Shareholder shall not sell, directly or indirectly, any Multiple Super Voting Shares or Units pursuant to a take-over bid (as defined in applicable Securities Laws) under circumstances in which applicable Securities Laws would have required the same offer to be made to SVS Holders or the Holders MVS Holders, as applicable, if the sale by the Shareholders Shareholder had been a sale of the Subordinate Voting Shares rather than such Multiple Super Voting Shares or UnitsShares, but otherwise on the same terms. For the purposes of this Section 2.2, it shall be assumed that the offer that would have resulted in the sale of such Subordinate Voting Shares or Multiple Voting Shares by such Shareholders Shareholder would have constituted a take-over bid under applicable Securities Laws, regardless of whether this actually would have been the case, and the varying of any material term of an offer shall be deemed to constitute the making of a new offer. For the avoidance of doubt, the determination of whether an offer constitutes a take-over bid (as defined under applicable Securities Laws) for purposes of this Section 2.2 shall not be made by reference solely to the number of issued and outstanding Subordinate Voting Shares or Multiple Voting Shares, as applicable.