Common use of Restriction on Sale Clause in Contracts

Restriction on Sale. Subject to Section 2.3 and the Articles, the Shareholders shall not sell, directly or indirectly, any Proportionate Voting Shares 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 if the sale by the Shareholders had been a sale of the Subordinate Voting Shares underlying such Proportionate Voting Shares rather than such Proportionate Voting Shares, 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 Proportionate Voting Shares (or Subordinate Voting Shares into which such Proportionate Voting Shares are convertible or converted pursuant to the Articles) by the Shareholders would have constituted a take-over bid for the Subordinate Voting Shares 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.

Restriction on Sale. ‌ Subject to Section 2.3 and the Articles, the Shareholders shall not sell, directly or indirectly, any Proportionate Voting Shares pursuant to a take-over bid (as defined in Applicable applicable Securities Laws) under circumstances in which Applicable applicable Securities Laws would have required the same offer to be made to SVS Subordinate Holders if the sale by the Shareholders had been a sale of the Subordinate Voting Shares underlying such Proportionate Voting Shares rather than such Proportionate Voting Shares, 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 Proportionate Voting Shares (or Subordinate Voting Shares into which such Proportionate Voting Shares are convertible or converted pursuant to the Articles) by the Shareholders would have constituted a take-take- over bid for the Subordinate Voting Shares under Applicable 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.

Restriction on Sale. ‌ (1) Subject to Section 2.3 and the Articles, the Shareholders MVS Holders shall not sell, directly or indirectly, any Proportionate Multiple Voting Shares pursuant to a “take-over bid bid” (as defined in Applicable applicable Securities Laws) under circumstances in which Applicable applicable Securities Laws would have required the same offer to be made to SVS Limited Voting Holders if the sale by the Shareholders MVS Holders had been a sale of the Subordinate Limited Voting Shares underlying into which such Proportionate Multiple Voting Shares are convertible pursuant to the Articles rather than such Proportionate Multiple Voting Shares, but otherwise on the same terms. . (2) For the purposes of this Section 2.22.2 but subject to Section 2.3, it shall be assumed that the offer that would have resulted in the sale of Proportionate such Multiple Voting Shares (or Subordinate Limited Voting Shares into which such Proportionate Multiple Voting Shares are convertible or converted pursuant to the Articles) by the Shareholders MVS Holders, on the basis set out above, would have constituted a take-over bid for the Subordinate Limited Voting Shares under Applicable 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.

Restriction on Sale. (a) Subject to Section 2.3 and the Articles, the Shareholders shall not sell, directly or indirectly, any Proportionate Multiple Voting Shares pursuant to a take-over take−over bid (as defined in Applicable under applicable Securities Laws) under circumstances in which Applicable applicable Securities Laws would have required the same offer to be made to SVS Holders if the sale by the Shareholders had been a sale of the Subordinate Voting Shares underlying such Proportionate Multiple Voting Shares rather than such Proportionate Multiple Voting Shares, but otherwise on the same terms. . (b) For the purposes of this Section 2.2, if the offer relates to the acquisition or disposition of 20% or more of the outstanding securities of a class, it shall be assumed that the offer that would have resulted in the sale of Proportionate Multiple Voting Shares (or Subordinate Voting Shares into which such Proportionate Multiple Voting Shares are convertible or converted pursuant to the Articles) by the Shareholders would have constituted a take-over take−over bid for the Subordinate Voting Shares under Applicable 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.

Restriction on Sale. Subject to Section 2.3 and the Articles, the Shareholders Shareholder shall not sell, directly or indirectly, any Proportionate Multiple Voting Shares pursuant to a take-over bid (as defined in Applicable applicable Securities Laws) under circumstances in which Applicable applicable Securities Laws would have required the same offer to be made to SVS Holders if the sale by the Shareholders Shareholder had been a sale of the Subordinate Voting Shares underlying such Proportionate Voting Shares rather than such Proportionate Multiple Voting Shares, 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 Proportionate Voting Shares (or such Subordinate Voting Shares into which such Proportionate Voting Shares are convertible or converted pursuant to the Articles) by the Shareholders Shareholder, on the basis set out above, would have constituted a take-over bid for the Subordinate Voting Shares under Applicable 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.

Restriction on Sale. Subject to Section 2.3 and the Articles, each of the Shareholders shall not selltransfer, directly or indirectly, any Proportionate Super Voting Shares pursuant to a take-over bid (as defined in Applicable Securities Lawsapplicable securities 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 underlying such Proportionate or Multiple Voting Shares Shares, as applicable, rather than such Proportionate Super Voting Shares, 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 Proportionate Voting Shares (or Subordinate Voting Shares into which such Proportionate or Multiple Voting Shares are convertible or converted pursuant to the Articles) by the Shareholders such Shareholder would have constituted a take-over bid for the Subordinate Voting Shares under Applicable Securities Lawsapplicable securities 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 in applicable securities 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.