Common use of Forgiveness of Debt Clause in Contracts

Forgiveness of Debt. 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 its 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, Share Purchase Agreement (SecureAlert, Inc.)

Forgiveness of Debt. The Company None of the Companies 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 its 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 (Canwest Media Inc)

Forgiveness of Debt. 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 its their share capital) which could have resulted in the application of Section section 80 and following of the ITA.

Appears in 1 contract

Sources: Stock Purchase Agreement (Langer Inc)