NON-ARM'S LENGTH TRANSACTIONS definition
NON-ARM'S LENGTH TRANSACTIONS. Neither the Corporation nor the Subsidiaries owes any amount to, nor has the Corporation any present loans to, or borrowed any amount from or is otherwise indebted to, any officer, director, employee or securityholder of any of them or any Person not dealing at “arm's length” (as such term is defined in the Income Tax Act (Canada)) with any of them except for usual employee reimbursements and compensation paid in the ordinary and normal course of the business of either the Corporation or the Subsidiaries. Except usual employee or consulting arrangements made in the ordinary and normal course of business, neither the Corporation nor the Subsidiaries is a party to any contract, agreement or understanding with any officer, director, employee or securityholder of either of them or any other Person not dealing at arm's length with the Corporation and the Subsidiaries. No officer, director or employee of the Corporation or the Subsidiaries and no Person which is an affiliate or associate of any of the foregoing Persons, owns, directly or indirectly, any interest (except for shares representing less than 5% of the outstanding shares of any class or series of any publicly traded company) in, or is an officer, director, employee or consultant of, any Person which is, or is engaged in, a business competitive with the business of the Corporation or the Subsidiaries which could materially adversely impact on the ability to properly perform the services to be performed by such Person for the Corporation or the Subsidiaries. No officer, director, employee or securityholder of either the Corporation or the Subsidiaries has any cause of action or other claim whatsoever against, or owes any amount to, either the Corporation or the Subsidiaries except for claims in the ordinary and normal course of the business of the Corporation or the Subsidiaries such as for accrued vacation pay or other amounts or matters which would not be material to the Corporation.
NON-ARM'S LENGTH TRANSACTIONS means any contract or agreement by YFMC or any Subsidiary and any officer, director, employee of YFMC and/or any Subsidiary or any Person not dealing at arm's length (within the meaning of the ITA) with any of them or any affiliate of any of them;
NON-ARM'S LENGTH TRANSACTIONS. Other than as set out in the Auryn Disclosure Letter, there are no current contracts, commitments, agreements, arrangements or other transactions between Auryn or any of the Auryn Subsidiaries, on the one hand, and any (A) officer or director of Auryn or any of the Auryn Subsidiaries, (B) any holder of record or, to the knowledge of Auryn, beneficial owner or 5% or more of the outstanding Auryn Shares, or (C) any affiliate or associate or any such officer, director or Auryn Shareholder, on the other hand.
More Definitions of NON-ARM'S LENGTH TRANSACTIONS
NON-ARM'S LENGTH TRANSACTIONS means transactions between Persons that are not dealing with each other at "arm's length", within the meaning of such term in the ITA;