Common use of Material Part Clause in Contracts

Material Part. For the purposes of this Article a “material part of the Seller’s Facilities” means any portion of the Seller’s Facilities the disposition of which would materially affect the ability of Seller to fulfil the terms of this Agreement or could reasonably be expected to result in a reduction in the volume of Chips available to Buyer under this Agreement. For the purposes of determining the application of Section 112.1 to a disposition of any part of the Seller’s Facilities: (a) a series of transactions that could reasonably be viewed as related will be considered as a single disposition; and (b) any exchange of assets in which any part of the Seller’s Facilities are disposed of but are replaced concurrently with other assets that become part of the Seller’s Facilities will not constitute a disposition of a material part of the Seller’s Facilities if, as a result of such exchange, the ability of Seller to fulfil the terms of this Agreement and the volume of Chips available to Buyer under this Agreement is not materially affected. Seller may, at its option, notify Buyer of any transaction Seller proposes to enter into that involves the acquisition or disposition of any facility that is or could be used in connection with Seller’s wood processing business and any notice given by Seller to Buyer under this Section may include a request that Buyer advise Seller of Buyer’s position regarding the application of Section 12.1 to the proposed transaction, including whether or not an asset is a material part of the Seller’s Facilities and whether or not any draft agreement proposed by Seller under Section 12.1 meets Buyer’s reasonable requirements. Buyer agrees to respond promptly (and in any event not more than 15 Business Days after receipt of such notice) to any such request made by Seller and failure of Buyer to respond during such period will be deemed to be confirmation that Buyer does not consider Section 12.1 to apply to such transaction.

Material Part. For the purposes of this Article a “"material part of the Seller’s Facilities” TimberWest Facilities or Timber Tenures" means any portion of the Seller’s TimberWest Facilities or Timber Tenures the disposition of which would materially affect the ability of Seller TimberWest to fulfil the terms of this Agreement or could reasonably be expected to result in a reduction in the volume of Chips or Pulplogs available to Buyer FCCL under this Agreement. For Agreement and, for the purposes of determining the application of Section 112.1 14.1 to a disposition of any part of the Seller’s FacilitiesTimberWest Facilities or Timber Tenures: (a) a series of transactions that could reasonably be viewed as related will be considered as a single disposition; and (b) any exchange of assets in which any part of the Seller’s TimberWest Facilities or Timber Tenures are disposed of but are replaced concurrently with other assets that become part of the Seller’s TimberWest Facilities or the Timber Tenures will not constitute a disposition of a material part of the Seller’s TimberWest Facilities or Timber Tenures if, as a result of such exchange, the ability of Seller TimberWest to fulfil the terms of this Agreement and the volume of Chips or Pulplogs available to Buyer FCCL under this Agreement is not materially affected. Seller TimberWest may, at its option, notify Buyer FCCL of any transaction Seller TimberWest proposes to enter into that involves the acquisition or disposition of any tenure, right to harvest timber, or facility that is or could be used in connection with Seller’s TimberWest's logging operations or wood processing business and any notice given by Seller TimberWest to Buyer FCCL under this Section may include a request that Buyer FCCL advise Seller TimberWest of Buyer’s FCCL's position regarding the application of Section 12.1 this Article to the proposed transaction, including whether or not an asset is a material part of the Seller’s TimberWest Facilities or Timber Tenures and whether or not any draft agreement proposed by Seller TimberWest under Section 12.1 14.1 meets Buyer’s FCCL's reasonable requirements. Buyer FCCL agrees to respond promptly (and in any event not more than 15 Business Days after receipt of such notice) to any such request made by Seller TimberWest and failure of Buyer FCCL to respond during such period will be deemed to be confirmation that Buyer FCCL does not consider Section 12.1 this Article to apply to such transaction.

Material Part. For the purposes of this Article a “material part of the Seller’s FacilitiesTimber Tenures” means any portion of the Seller’s Facilities Timber Tenures the disposition of which would materially affect the ability of Seller TimberWest to fulfil the terms of this Agreement or could reasonably be expected to result in a material reduction in the volume of Chips Pulplogs available to Buyer Catalyst under this Agreement. For Agreement and, for the purposes of determining the application of Section 112.1 14.1 to a disposition of any part of the Seller’s FacilitiesTimber Tenures: (a) a series of transactions that could reasonably be viewed as related will be considered as a single disposition; and (b) any exchange of assets in which any part of the Seller’s Facilities Timber Tenures are disposed of but are replaced concurrently with other assets that become part of the Seller’s Facilities Timber Tenures will not constitute a disposition of a material part of the Seller’s Facilities Timber Tenures if, as a result of such exchange, the ability of Seller TimberWest to fulfil the terms of this Agreement and the volume of Chips Pulplogs available to Buyer Catalyst under this Agreement is not materially affected. Seller TimberWest may, at its option, notify Buyer Catalyst of any transaction Seller TimberWest proposes to enter into that involves the acquisition or disposition of any facility tenure or right to harvest timber that is or could be used in connection with SellerTimberWest’s wood processing business logging operations and any notice given by Seller TimberWest to Buyer Catalyst under this Section may include a request that Buyer Catalyst advise Seller TimberWest of BuyerCatalyst’s position regarding the application of Section 12.1 this Article to the proposed transaction, including whether or not an asset is a material part of the Seller’s Facilities Timber Tenures and whether or not any draft agreement proposed by Seller TimberWest under Section 12.1 14.1 meets BuyerCatalyst’s reasonable requirements. Buyer Catalyst agrees to respond promptly (and in any event not more than 15 Business Days after receipt of such notice) to any such request made by Seller TimberWest and failure of Buyer Catalyst to respond during such period will be deemed to be confirmation that Buyer Catalyst does not consider Section 12.1 this Article to apply to such transaction.