ARC Resources definition
Examples of ARC Resources in a sentence
The board of directors of ARC Resources will be selected annually by the Unitholders by an Ordinary Resolution at the annual meeting of Unitholders.
In the event that ARC Resources is unable or unwilling to perform its obligations delegated to it hereunder, the Trustee shall either perform all such duties or shall be entitled to engage another Person that is duly qualified to perform such obligations.
Except as expressly prohibited by law, the Trustee may grant or delegate to ARC Resources such authority as the Trustee may in its sole discretion deem necessary or desirable to effect the actual administration of the duties of the Trustee under this Indenture, without regard to whether such authority is normally granted or delegated by trustees.
DEDUCTIONS, ALLOWANCES AND CREDITS ARC Resources shall determine the tax deductions, allowances and credits to be claimed by the Trust in any year, and the Trustee shall claim such deductions, allowances and credits for the purposes of computing the income of the Trust and the amount payable by the Trust pursuant to the provisions of the TAX ACT.
The omission of such a provision from any such written instrument shall not operate to impose personal liability on the Trustee, ARC Resources or any Unitholder.
All costs, charges and expenses (including any amounts payable to the Trustee under Section 7.7 or 7.8) properly incurred by the Trustee on behalf of the Trust shall be payable by ARC Resources, and if any such costs, charges and expenses are not paid by ARC Resources within 30 days after the date of any invoice in respect thereof, the Trustee shall be entitled to have such costs, charges and expenses paid out of the Trust Fund.
In the performance of its agency hereunder, and notwithstanding any other provision of this Indenture, ARC Resources may obtain the consent or approval of Unitholders required by any regulatory body, including the Toronto Stock Exchange, by a majority or higher percentage of Trust Units represented at a meeting, and without including the votes of interested Unitholders, or other Unitholders, all as may be stipulated by the regulatory body requesting such consent or approval.
The register and the branch transfer register referred to in this Section 11.3 shall at all reasonable times be open for inspection by the Unitholders, ARC Resources and the Trustee.
ARC Resources will vote any voting rights for any shares of ARC Resources held by the Trustee in accordance with the selection of Unitholders.
ARC Resources accepts all such delegation under this Article 8 and agrees that, in respect of such matters, it shall carry out its functions honestly, in good faith and in the best interests of the Trust and the Unitholders and, in connection therewith, shall exercise that degree of care, diligence and skill that a reasonably prudent Person would exercise in comparable circumstances.