Common use of Forgiveness of Debt Clause in Contracts

Forgiveness of Debt. Corporation has not at any time benefited from a forgiveness of debt or entered into any transaction or arrangement (including conversion of debt into shares of their share capital) which could have resulted in the application of Section 80 and following of the ITA.

Appears in 2 contracts

Sources: Share Purchase Agreement (Immersion Corp), Share Purchase Agreement (Display Technologies Inc)

Forgiveness of Debt. Corporation The Company has not at any time benefited from a forgiveness of debt or entered into any transaction or arrangement (including conversion of debt into shares of their share capital) which could have resulted in the application of Section 80 and following of the ITA.

Appears in 1 contract

Sources: Merger Agreement (Natural Microsystems Corp)

Forgiveness of Debt. The Corporation has not at any time benefited from a forgiveness of debt or entered into any transaction or arrangement (including conversion of debt into shares of their share capital) which could have resulted in the application of Section 80 and following of the ITA.

Appears in 1 contract

Sources: Share Purchase Agreement (Novamerican Steel Inc)