Section 85 Election has the meaning ascribed thereto in Section 2.4.

Section 85 Election shall have the meaning ascribed thereto in subsection 3.2(c) hereof;

Section 85 Election means a joint election to be executed by Company and Canadian OpCo under Section 85 of the Income Tax Act (Canada) and the corresponding provisions of any other applicable provincial statute in respect of the sale, assignment, conveyance and transfer of the First Closing Purchased Assets.

Examples of Section 85 Election in a sentence

To make the Section 85 Election, the Eligible Holder must provide the required information to the person specified in the tax instruction letter in accordance with the procedure set out therein, within ninety (90) days of the Effective Date.
With the exception of the execution by Gold Royalty of properly completed prescribed forms for purposes of the Section 85 Election, compliance with the requirements for a valid Section 85 Election, including, without limitation, selection of the appropriate elected amount for the prescribed form and the filing of the completed and executed form with the appropriate governmental entity, will be the sole responsibility of the Eligible Holder making the Section 85 Election.
An information package with instructions on how to make a Section 85 Election will be separately distributed to an Electing Shareholder after receipt by the Offeror of a Letter of Transmittal indicating the Electing Shareholder’s intention to make a Section 85 Election.
The Offeror is not obliged to sign and return a Section 85 Election form received from an Electing Shareholder more than 90 days after the relevant Take-Up Date in accordance with the procedures set out in the tax instruction letter.
The tax instruction letter will provide to the Eligible Holder general instructions on how the Eligible Holder will make the Section 85 Election.

More Definitions of Section 85 Election

Section 85 Election means an income tax election pursuant to section 85 of the Tax Act (and any analogous provision of provincial income tax law).

Section 85 Election has the meaning ascribed to it in Section 5.1;

Section 85 Election shall have the meaning ascribed thereto in Section 2.11 of the Arrangement Agreement;

Section 85 Election means a joint election with the Offeror pursuant to subsection 85(1) or (2) of the Tax Act (or the corresponding provisions of any applicable provincial tax legislation), as described in Section 20 of the Circular, “Principal Canadian Federal Income Tax Considerations — Augusta Shareholders Resident in Canada — Disposition of Augusta Shares Pursuant to the Offer — Section 85 Election”;

Section 85 Election means an election under Section 85 of the Income Tax Act (Canada), as amended, supplemented or replaced from time to time;

Section 85 Election has the meaning set forth in Section 3.14;

Section 85 Election shall have the meaning ascribed thereto in Section 4.8; “Tax Act” means the Income Tax Act (Canada), as amended; and