Teck Cominco definition
Examples of Teck Cominco in a sentence
As manager of the coal partnership, Teck Cominco will have the right to earn up to an additional 5% interest over a four-year period, bringing its interest to 40%, if the partnership achieves specified operating synergies.
Teck Cominco will contribute its metallurgical coal assets, including the Elkview mine and $125 million to the partnership for an initial 35% interest.
Teck Cominco shall pay to the Trust or Fording ULC as applicable, and indemnify the Trust and Fording ULC, as applicable, against all of the reasonable legal fees, costs and expenses on a full cost recovery basis incurred by either of them in connection with all actions against Teck Cominco in connection with the enforcement by either the Trust or Fording ULC of any of their respective rights or benefits conferred pursuant to or derived from this Agreement.
Such indemnity payments shall be reimbursed to Teck Cominco to the extent that costs and expenses are recovered by the Trust or Fording ULC from the party against whom such action is taken.
Notwithstanding any other provision of this Agreement, but subject to the consequences set out in Section 3.2(d), Teck Cominco shall not be obligated to vote its Units in respect of the election of Trustees or the approval of Directors.
The Parties acknowledge and agree that an award of money damages would be inadequate for any breach by Teck Cominco of Section 3.3, if applicable, if Teck Cominco chooses to vote its Units in respect of the election of Trustees or the approval of Directors and any such breach would cause the Trust, Fording ULC or a party to another Governance Agreement irreparable harm.
However, if Teck Cominco chooses to vote its Units in respect of the election of Trustees or the approval of Directors, it must do so in accordance with Section 3.2 or Section 3.3, as may then be applicable.
The Administrative Agent (or its counsel) shall also have received from Teck Cominco Metals Ltd.
For greater certainty, Teck Cominco Limited shall not be bound by this agreement.
For greater certainty, such relief cannot be contrary to the provisions of Section 3.4 and cannot obligate Teck Cominco to vote in any manner for Trustees or Directors or remove its right to vote either in accordance with this Agreement in the future or on any other matters on which it is entitled to vote.