ICA Approval definition

ICA Approval means the determination or deemed approval by the Minister of Industry and the Minister of Canadian Heritage that the transactions contemplated hereby are of "net benefit to Canada" for purposes of the ICA.

ICA Approval means the Purchaser shall have received notification from the responsible Minister under the Investment Canada Act that the Minister is satisfied or is deemed to be satisfied that the transactions contemplated in this Agreement that are subject to the provisions of the Investment Canada Act are likely to be of net benefit to Canada;

ICA Approval means either (1) receipt by the Purchaser of a notice from the responsible Minister under the Investment Canada Act that the Minister is satisfied that the Transactions are likely to be of net benefit to Canada pursuant to the Investment Canada Act or (2) the time period provided for such notice under the Investment Canada Act shall have expired such that the responsible Minister under the Investment Canada Act shall be deemed pursuant to the Investment Canada Act to have been satisfied that the Transactions are likely to be of net benefit to Canada pursuant to the Investment Canada Act.

Examples of ICA Approval in a sentence

• In particular, the Company shall not make any public announcement regarding the ICA Notification, the status of the application or the ICA Approval without the consent of the Parent and the Purchaser, such consent not to be unreasonably withheld, conditioned or delayed.

• As soon as reasonably practicable, Bowater shall file, in cooperation with ACI, with the Investment Review Division of Industry Canada (“IRD”), an application for review and any supplemental information (other than privileged information) which may be required in connection therewith pursuant to the ICA and the ICA Approval, which filings will comply with the requirements of the ICA.

• The ICA Approval, which approval shall be unconditional or if conditional any condition (i) does not require the Purchaser, the Company or any of their respective affiliates to dispose of material assets or business; or (ii) would not materially impair the ability of the Purchaser, the Company or any of their respective affiliates to continue to conduct their respective businesses following the Closing substantially in the manner conducted immediately prior to the Closing.

• Conditions Precedent The completion of the Arrangement is also subject to the receipt of certain Regulatory Approvals and other specified approvals, including, among others, Competition Act Approval, ICA Approval, HSR Approval, Exon-Florio Approval and PRC Approvals, which approvals are described in more detail under "Principal Legal Matters — Regulatory Approvals".

• Upon receipt by the Trustee of notice from MHR that ICA Approval continues to be required but its request for ICA Approval has been declined, abandoned or withdrawn, the Trustee shall commence selling the Trust Shares and shall distribute the net proceeds from the sale of the Trust Shares as and when received, in full and without any deduction or reduction, to MHR.

More Definitions of ICA Approval

ICA Approval means the responsible Minister under the Investment Canada Act (the “Minister of Industry”) having sent a notice to the Parent or the Purchaser stating that the Minister of Industry is satisfied that the transactions contemplated by this Agreement are likely to be of net benefit to Canada, or the Minister of Industry having been deemed to be satisfied that the transactions contemplated by this Agreement are likely to be of net benefit to Canada.

ICA Approval means the Net Benefit Approval and National Security Approval.

ICA Approval means approval required to be obtained under the Investment Canada Act pursuant to the terms of the Arrangement Agreement;

ICA Approval has the meaning ascribed to it in Section 6.2(viivi);

ICA Approval means in respect of the transactions contemplated by this Agreement, either (a) receipt by the Buyers of a notice from the responsible Minister under the Investment Canada Act that the Minister is satisfied that the Agreement and the other transactions contemplated hereby are likely to be of net benefit to Canada pursuant to the Investment Canada Act or (b) the time period provided for such notice under the Investment Canada Act shall have expired such that the responsible Minister under the Investment Canada Act shall be deemed pursuant to the Investment Canada Act to have been satisfied that the Agreement and the other transactions contemplated hereby are likely to be of net benefit to Canada pursuant to the Investment Canada Act and shall have sent a notice to that effect.

ICA Approval means that: (i) if required pursuant to Part IV of the Investment Canada Act, the Purchaser shall have received confirmation in writing from the responsible Minister under the Investment Canada Act that he/she is satisfied or is deemed to be satisfied that the transactions contemplated in this Agreement that are subject to the provisions of the Investment Canada Act are likely to be of net benefit to Canada, on terms and conditions satisfactory to the Purchaser, acting reasonably; and (ii) the responsible Minister shall not have issued a notice to the Purchaser pursuant to Section 25.2(1) of the Investment Canada Act or an order pursuant to Section 25.3(1) of the Investment Canada Act. If either a notice pursuant to Section 25.2(1) or an order pursuant to Section 25.3(1) has been issued, the Purchaser shall also have received (a) confirmation in writing from the responsible Minister either that no order will be made under Section 25.3(1) or that no further action will be taken or (b) a copy of an order under Section 25.4(1)(b) authorizing the transaction, provided that order is on terms and conditions satisfactory to the Purchaser, acting reasonably.

ICA Approval means: (a) if the transactions contemplated by this Agreement are subject to review under Part IV of the Investment Canada Act, the Purchaser shall have received notification from the responsible Minister under the Investment Canada Act that he is satisfied or is deemed to be satisfied that the transactions contemplated in this Agreement are likely to be of net benefit to Canada, on terms and conditions satisfactory to the Purchaser, in its reasonable discretion, and (b) the Purchaser shall not have received notice from the responsible Minister under either subsection 25.2(1) of the Investment Canada Act or subsection 25.3(2) of the Investment Canada Act within the period prescribed by the Investment Canada Act or, if the Purchaser has received such a notice, the Purchaser shall have subsequently received one of the following notices, as applicable: (i) under paragraph 25.2(4)(a) of the Investment Canada Act indicating that no order for the review of the transactions contemplated by this Agreement will be made under subsection 25.3(1) of the Investment Canada Act, (ii) under paragraph 25.3(6)(b) of the Investment Canada Act indicating that no further action will be taken in respect of the transactions contemplated by this Agreement, or (iii) under subsection 25.4(1) of the Investment Canada Act that the Governor in Council authorizes the completion of the transactions contemplated by this Agreement, on terms and conditions satisfactory to the Purchaser, in its reasonable discretion.