Canadian Sub definition
Examples of Canadian Sub in a sentence
On such date, the Consideration Shares, as applicable, to which the former holder of the certificate or DRS Advice referred to in the preceding sentence was ultimately entitled shall be deemed to have been surrendered for no consideration to Parent Canadian Sub (or its successor(s)).
None of Parent, Parent Canadian Sub, Company, Amalco or the Depositary shall be liable to any Person in respect of any Consideration Shares (or dividends, distributions and interest in respect thereof) delivered to a public official pursuant to any applicable abandoned property, escheat or similar law.
Each Company Share shall be exchanged into one fully paid and non-assessable Amalco Share, and each Company Canadian Sub Share shall be cancelled without any repayment of capital.
Canadian Sub has not carried on any business or conducted any operations since the date of its incorporation other than the execution of the Master Canadian Transaction Agreement and the other Transaction Agreements to which it is a party, the performance of its obligations hereunder and thereunder and matters ancillary thereto.
Each of Canadian Sub and Columbia House Canada shall pay directly to the appropriate taxing authorities all sales and transfer taxes, registration charges and transfer fees other than the goods and services tax ("GST") imposed under Part IX of the Excise Tax Act (Canada) payable by it, applicable in respect of the purchase and sale of the Business Assets under this Agreement and, upon the reasonable request of each such Party, the other such Party shall furnish proof of such payment.