[{"id":"0383814a-b6c6-403c-a3dd-c090708a2421","order":1,"text":"BUSINESS PURCHASE AGREEMENT","fontSize":"20","textAlign":"center","bold":true,"underline":false,"marginBottom":"6","cflou":false,"active":true,"marginTop":"0"},{"id":"ccf12f2e-9ff6-43c9-9b4d-5fb48454f27e","order":2,"text":"This Business Purchase Agreement is made and entered into as of [Date of Agreement].","fontSize":"14","textAlign":"center","bold":false,"underline":false,"marginBottom":"20","cflou":false,"active":true},{"id":"77db221b-4eca-49fc-b89d-796f6b2bfc94","order":3,"text":"BETWEEN:","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"47e57f2c-a935-4702-acb1-640ae0a4d127","order":4,"text":"[Vendor's full legal name], an individual residing at [Vendor's address], in the Province of [Province] (the \"Vendor\"),","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true,"displayConditions":[{"field":"41f14b9e-a5ff-498a-a05c-c966059529a8","value":"individual","type":"add","operator":"="}]},{"id":"a302047e-9006-414e-a59b-002ca2adef13","order":5,"text":"[Vendor's full legal name], a corporation incorporated under the laws of [Jurisdiction of incorporation], having its registered office at [Vendor's registered office], in the Province of [Province] (the \"Vendor\"),","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true,"displayConditions":[{"field":"41f14b9e-a5ff-498a-a05c-c966059529a8","value":"corporation","type":"add","operator":"="}]},{"id":"3e0efbc0-b4cb-469b-a9e3-9d9a28a95f15","order":6,"text":"AND:","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"9f5056cd-180c-4f13-a23e-34d5a1decf1a","order":7,"text":"[Purchaser's full legal name], an individual residing at [Purchaser's address], in the Province of [Province] (the \"Purchaser\"),","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true,"displayConditions":[{"field":"a3b8b374-a17e-46ef-b9a2-4497c69c5976","value":"individual","type":"add","operator":"="}]},{"id":"30a148a3-9614-402b-b2bd-b65f7821ed16","order":8,"text":"[Purchaser's full legal name], a corporation incorporated under the laws of [Jurisdiction of incorporation], having its registered office at [Purchaser's registered office], in the Province of [Province] (the \"Purchaser\"),","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true,"displayConditions":[{"field":"a3b8b374-a17e-46ef-b9a2-4497c69c5976","value":"corporation","type":"add","operator":"="}]},{"id":"3f2f018c-752e-4a4d-91fa-b44069ce99dc","order":9,"text":"AND: [Guarantor's full legal name], an individual residing at [Guarantor's address] (the \"Guarantor\"),","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true,"displayConditions":[{"field":"20245a76-9cd0-4bf1-a538-b2d128468c14","value":"guar","type":"add","operator":"="}]},{"id":"700a360d-fa3a-4578-90f1-db755051fd30","order":10,"text":"The Vendor and the Purchaser are collectively referred to as the \"Parties\" and individually as a \"Party\".","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"16","cflou":false,"active":true},{"id":"09846c1f-ee8d-45cc-91f0-48a15eb08d54","order":11,"text":"RECITALS","fontSize":"16","textAlign":"center","bold":true,"underline":false,"marginBottom":"6","cflou":false,"active":true,"marginTop":"6"},{"id":"16cfe4f5-b991-4ace-bf40-f4db4646e958","order":12,"text":"WHEREAS the Vendor carries on the business of [Description of the business] under the name [Business / trade name] (the \"Business\");","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"8feaedfe-0fd2-44eb-8feb-c2b2adfe6f75","order":13,"text":"AND WHEREAS the Vendor is the legal and beneficial owner of the assets used in carrying on the Business;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"assets","type":"add","operator":"="}]},{"id":"52ddda76-cd85-4966-8e39-60cdea75b9f8","order":14,"text":"AND WHEREAS the Purchaser wishes to purchase, and the Vendor wishes to sell, the assets and undertaking of the Business, as a going concern, upon and subject to the terms and conditions set out in this Agreement;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"assets","type":"add","operator":"="}]},{"id":"9bd974bf-dc0f-41ae-b0c5-5c245e4759e9","order":15,"text":"AND WHEREAS the Business is carried on by [Name of the Corporation] (the \"Corporation\"), a corporation incorporated under the laws of [Jurisdiction of incorporation of the Corporation];","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"shares","type":"add","operator":"="}]},{"id":"f955c329-c0a9-4a5d-886c-ccacdebfcf20","order":16,"text":"AND WHEREAS the Vendor is the registered and beneficial owner of all of the issued and outstanding shares in the capital of the Corporation;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"shares","type":"add","operator":"="}]},{"id":"d4f450c5-6b3b-410b-8946-e1aa10da56c1","order":17,"text":"AND WHEREAS the Purchaser wishes to purchase, and the Vendor wishes to sell, all of the issued and outstanding shares in the capital of the Corporation, upon and subject to the terms and conditions set out in this Agreement;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"shares","type":"add","operator":"="}]},{"id":"eae1685d-fa46-4082-8b98-49880cf17527","order":18,"text":"NOW THEREFORE in consideration of the mutual covenants and agreements contained in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"16","cflou":false,"active":true},{"id":"0decdf9d-e3d3-484a-92ca-0d476d53832d","order":19,"text":"1. INTERPRETATION","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"6","cflou":false,"active":true,"marginTop":"18","sectionNum":"S01"},{"id":"c493f1c6-35c7-4394-b20a-b75c2d11b55f","order":20,"text":"In this Agreement, unless the context otherwise requires, the following terms have the meanings set out below, and grammatical variations of such terms have corresponding meanings:","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"41ab6ee0-d51b-41c4-81ed-f676e3b7e3ad","order":21,"text":"\"Agreement\" means this Business Purchase Agreement, including all schedules attached hereto, as the same may be amended, supplemented, or restated from time to time;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"ca01491b-c3d6-4fd2-bb4d-ada9fdf83a83","order":22,"text":"\"Assets\" means all of the property, assets, and undertaking of the Business of every kind and description and wheresoever situate, including the goodwill, equipment, inventory, accounts receivable, contracts, intellectual property, leasehold interests, books and records, and permits relating to the Business, but excluding the Excluded Assets;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"assets","type":"add","operator":"="}]},{"id":"96d02702-bd68-4006-99ee-c28f73cd6903","order":23,"text":"\"Excluded Assets\" means [Description of any assets excluded from the sale, if any], which assets are expressly excluded from the purchase and sale contemplated by this Agreement;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"assets","type":"add","operator":"="}]},{"id":"c748b306-3d24-423c-a3ba-da2a6929e820","order":24,"text":"\"Assumed Liabilities\" means [Description of liabilities assumed by the Purchaser, if any], being the only liabilities of the Business assumed by the Purchaser; the Vendor shall remain responsible for all other liabilities of the Business arising from facts or circumstances existing on or before the Closing Date;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"assets","type":"add","operator":"="}]},{"id":"cb365c11-ac4a-4812-8b88-45cbcebf40eb","order":25,"text":"\"Purchased Shares\" means all of the issued and outstanding shares in the capital of the Corporation, being [Number and class of shares], all of which are owned by the Vendor;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"shares","type":"add","operator":"="}]},{"id":"2cc20a34-77cf-466a-89ab-516cb1b8311d","order":26,"text":"\"Corporation\" means [Name of the Corporation], through which the Business is carried on;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"shares","type":"add","operator":"="}]},{"id":"e2af3208-48d2-4020-9bc2-1d190f431b6d","order":27,"text":"\"Business Day\" means any day other than a Saturday, Sunday, or statutory holiday in the Province of [Governing province];","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"2f0684fa-b5b2-4cd3-aab6-81f2b377b2e0","order":28,"text":"\"Closing\" means the completion of the purchase and sale of the Assets in accordance with this Agreement, and \"Closing Date\" means [Closing date], or such other date as the Parties may agree in writing;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"assets","type":"add","operator":"="}]},{"id":"7c3fd461-472c-466f-a5cc-e8be6ae51f6e","order":29,"text":"\"Closing\" means the completion of the purchase and sale of the Purchased Shares in accordance with this Agreement, and \"Closing Date\" means [Closing date], or such other date as the Parties may agree in writing;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"shares","type":"add","operator":"="}]},{"id":"066bb3b6-7c71-45bf-8a31-bc1d93fcf713","order":30,"text":"\"Encumbrance\" means any mortgage, charge, pledge, hypothec, security interest, lien, claim, or other encumbrance of any kind whatsoever;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"7ebfb888-6cb9-4af8-b46c-87b16caf9c65","order":31,"text":"\"Purchase Price\" has the meaning set out in the Article entitled \"PURCHASE PRICE\";","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"d21f6dd5-6dd3-4049-8641-a428bb1e5f0a","order":32,"text":"References in this Agreement to a statute include every regulation made under it and any amendment or re-enactment from time to time. Words importing the singular include the plural and vice versa, and words importing gender include all genders. The headings used herein are for convenience of reference only and shall not affect the interpretation of this Agreement. All references to currency are to lawful money of Canada.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true},{"id":"d26c9d97-07c9-46ff-8520-1b40ab001534","order":33,"text":"2. PURCHASE AND SALE","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"6","cflou":false,"active":true,"marginTop":"18","sectionNum":"S02"},{"id":"1c297825-7b9c-4cfe-a6bd-6d38f1edef0c","order":34,"text":"Subject to the terms and conditions of this Agreement, the Vendor agrees to sell, assign, transfer, and convey to the Purchaser, and the Purchaser agrees to purchase from the Vendor, as a going concern and as at the Closing Date, all of the Vendor's right, title, and interest in and to the Assets, free and clear of all Encumbrances except for the Assumed Liabilities expressly assumed under this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"assets","type":"add","operator":"="}]},{"id":"d585aca3-b000-4337-a22d-66b5df979221","order":35,"text":"The Purchaser shall assume, pay, and discharge the Assumed Liabilities, and no other liabilities or obligations of the Vendor or of the Business, whether accrued, absolute, contingent, or otherwise, shall be assumed by the Purchaser. The Vendor shall indemnify and save the Purchaser harmless from all liabilities of the Business other than the Assumed Liabilities.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"assets","type":"add","operator":"="}]},{"id":"2de4c754-8601-4964-8373-2cff715af97e","order":36,"text":"Subject to the terms and conditions of this Agreement, the Vendor agrees to sell, assign, and transfer to the Purchaser, and the Purchaser agrees to purchase from the Vendor, as at the Closing Date, all of the Purchased Shares, free and clear of all Encumbrances, together with all rights and benefits accruing thereto.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"shares","type":"add","operator":"="}]},{"id":"b07d6ac8-2bdc-4ac4-a7d7-9d719c6ac997","order":37,"text":"Upon Closing, the Purchaser shall become the registered and beneficial owner of all of the issued and outstanding shares in the capital of the Corporation, and shall thereby acquire the Business as carried on by the Corporation, together with all of its assets and subject to all of its liabilities.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"shares","type":"add","operator":"="}]},{"id":"57828a17-41c7-4660-bb56-af4a591bce5d","order":38,"text":"3. PURCHASE PRICE","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"6","cflou":false,"active":true,"marginTop":"18","sectionNum":"S03"},{"id":"3780aed8-e694-422d-b884-2021f3a6cf2d","order":39,"text":"The aggregate purchase price payable by the Purchaser to the Vendor for the Assets (the \"Purchase Price\") is [Purchase price in words] ([Purchase price] CAD), exclusive of all applicable taxes.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"assets","type":"add","operator":"="}]},{"id":"4302094e-0aac-45b2-8a69-29a51a30c004","order":40,"text":"The aggregate purchase price payable by the Purchaser to the Vendor for the Purchased Shares (the \"Purchase Price\") is [Purchase price in words] ([Purchase price] CAD), exclusive of all applicable taxes.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"shares","type":"add","operator":"="}]},{"id":"30d2edbe-d68d-4f4b-bbfe-7474db0d1296","order":41,"text":"The Vendor and the Purchaser agree that the Purchase Price shall be allocated among the Assets as set out in Schedule \"A\" (Allocation of Purchase Price). Each Party shall report the sale and purchase of the Assets for all tax purposes in a manner consistent with such allocation and shall execute and file all elections, including any election under section 167 of the Excise Tax Act (Canada) and any joint election under the Income Tax Act (Canada), as the Parties may agree to be available and advantageous.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"assets","type":"add","operator":"="}]},{"id":"53febd9b-3fe4-4ed1-b38c-b68a783ad32a","order":42,"text":"The Purchase Price shall be adjusted, on a dollar-for-dollar basis, to reflect the amount by which the working capital of the Business as at the Closing Date is greater or less than [Target working capital amount] CAD. Within [Number of days] days following the Closing Date, the Vendor shall prepare and deliver to the Purchaser a statement of the working capital of the Business as at the Closing Date, and any resulting adjustment shall be paid by the Party owing the same within ten (10) Business Days after the statement becomes final and binding.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"3b359a85-ffe7-450d-98db-70fab0e1708d","value":"1","type":"add","operator":"="}]},{"id":"a452e2e6-087f-4582-bf6d-619296f6ff57","order":43,"text":"Subject to the adjustments and the deposit (if any) provided for in this Agreement, the balance of the Purchase Price shall be paid by the Purchaser to the Vendor on the Closing Date by certified cheque, bank draft, or wire transfer of immediately available funds.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true},{"id":"6ed7b3de-dc0d-49a2-8d0c-16bf548a148d","order":44,"text":"4. GST/HST AND TAX MATTERS","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"6","cflou":false,"active":true,"marginTop":"18","sectionNum":"S04"},{"id":"500c3779-c6c4-4829-9052-8f903d5500d9","order":45,"text":"The Vendor and the Purchaser shall jointly elect, under section 167 of the Excise Tax Act (Canada) and any equivalent provincial legislation, that no goods and services tax or harmonized sales tax is payable in respect of the sale of the Assets, on the basis that the Purchaser is acquiring all or substantially all of the property necessary to carry on the Business as a going concern. Each Party shall complete, execute, and file the prescribed election forms within the time prescribed. The Purchaser represents that it is, or will be on the Closing Date, a registrant for purposes of the goods and services tax and harmonized sales tax.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"assets","type":"add","operator":"="}]},{"id":"454fe9d0-22ce-46f0-891a-78db7f0a6578","order":46,"text":"To the extent any goods and services tax, harmonized sales tax, or provincial sales tax is nonetheless exigible in respect of the Assets, the Purchaser shall pay such tax to the Vendor on the Closing Date against delivery of a proper tax invoice, and the Vendor shall remit the same to the relevant taxing authority.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"assets","type":"add","operator":"="}]},{"id":"8d6a6b2d-7e51-4440-ad32-95092d29a3a3","order":47,"text":"The Vendor shall remain responsible for all taxes of the Corporation relating to all taxation periods, or portions thereof, ending on or before the Closing Date, except to the extent such taxes are reflected as a liability in the calculation of the working capital adjustment, if any. The Parties shall co-operate in good faith, and shall make available such records and assistance as may reasonably be required, in connection with the preparation and filing of any tax return, election, or designation, and the conduct of any tax audit or assessment, relating to the Corporation for any period ending on or before the Closing Date.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"shares","type":"add","operator":"="}]},{"id":"f454c057-8a7b-45ab-8b49-affc7407f451","order":48,"text":"If the Vendor is a non-resident of Canada for purposes of the Income Tax Act (Canada), the Vendor shall deliver to the Purchaser on Closing a certificate issued under section 116 of that Act, failing which the Purchaser shall be entitled to withhold and remit the amount required by law from the Purchase Price.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"shares","type":"add","operator":"="}]},{"id":"a9382f4a-54a3-4866-9eee-2f94f45de996","order":49,"text":"5. DEPOSIT","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"6","cflou":false,"active":true,"displayConditions":[{"field":"f70d9e02-007d-4201-9e66-dd3513fa785f","value":"1","type":"add","operator":"="}],"marginTop":"18","sectionNum":"S05"},{"id":"9187f9ff-e8a4-4680-aa75-06a6dbef0066","order":50,"text":"The Purchaser shall pay to the Vendor, upon execution of this Agreement, a deposit in the amount of [Deposit amount] CAD (the \"Deposit\"), to be held by [Name of party or escrow agent holding the deposit] and applied against the Purchase Price on the Closing Date.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"f70d9e02-007d-4201-9e66-dd3513fa785f","value":"1","type":"add","operator":"="}]},{"id":"164b938a-d50f-43b7-a893-b44facc95a46","order":51,"text":"If the transaction contemplated by this Agreement is completed, the Deposit shall be credited to the Purchaser and applied against the Purchase Price. If the transaction is not completed by reason of the default of the Purchaser, the Deposit shall be forfeited to the Vendor as liquidated damages and not as a penalty, without prejudice to any other remedy available to the Vendor. If the transaction is not completed for any reason other than the default of the Purchaser, the Deposit shall be returned to the Purchaser in full, without interest or deduction.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true,"displayConditions":[{"field":"f70d9e02-007d-4201-9e66-dd3513fa785f","value":"1","type":"add","operator":"="}]},{"id":"70ff277b-8ef5-4701-b0fc-55fe6a351bbb","order":52,"text":"6. VENDOR TAKE-BACK FINANCING","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"6","cflou":false,"active":true,"displayConditions":[{"field":"20245a76-9cd0-4bf1-a538-b2d128468c14","value":"none","type":"remove","operator":"="}],"marginTop":"18","sectionNum":"S06"},{"id":"1f92e977-64af-40b7-94cc-d182ed0a9753","order":53,"text":"A portion of the Purchase Price in the amount of [Vendor financing amount] CAD (the \"Vendor Loan\") shall be financed by the Vendor and shall be paid by the Purchaser to the Vendor after the Closing Date in accordance with this Article.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"20245a76-9cd0-4bf1-a538-b2d128468c14","value":"none","type":"remove","operator":"="}]},{"id":"65ce11f5-6904-4ba5-96ef-207d7ca5cd79","order":54,"text":"The Vendor Loan shall bear interest at the rate of [Interest rate] percent per annum, calculated and payable monthly, not in advance, and shall be repaid in equal consecutive monthly instalments of principal and interest over a period of [Repayment term] months, the first instalment falling due one month after the Closing Date and each subsequent instalment falling due on the same day of each successive month until the Vendor Loan is repaid in full.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"20245a76-9cd0-4bf1-a538-b2d128468c14","value":"none","type":"remove","operator":"="}]},{"id":"881a5cf3-2651-4609-a5ce-29dcbe6335e5","order":55,"text":"The Purchaser's obligations under the Vendor Loan shall be evidenced by a promissory note in form and substance satisfactory to the Vendor, executed and delivered by the Purchaser on the Closing Date. The Purchaser may prepay all or any part of the Vendor Loan at any time without notice, bonus, or penalty. Upon any default in payment that continues for ten (10) Business Days after written notice, the entire balance of the Vendor Loan then outstanding shall, at the option of the Vendor, become immediately due and payable.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true,"displayConditions":[{"field":"20245a76-9cd0-4bf1-a538-b2d128468c14","value":"none","type":"remove","operator":"="}]},{"id":"7dbaf965-21a7-41fb-abc2-19caad68ce62","order":56,"text":"7. GUARANTEE","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"6","cflou":false,"active":true,"displayConditions":[{"field":"20245a76-9cd0-4bf1-a538-b2d128468c14","value":"guar","type":"add","operator":"="}],"marginTop":"18","sectionNum":"S07"},{"id":"d0ab2c6d-839c-4478-825b-d36650ca1141","order":57,"text":"In consideration of the Vendor entering into this Agreement and extending the Vendor Loan, the Guarantor hereby unconditionally and irrevocably guarantees to the Vendor the due and punctual payment and performance of all of the Purchaser's obligations under the Vendor Loan and the related promissory note.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"20245a76-9cd0-4bf1-a538-b2d128468c14","value":"guar","type":"add","operator":"="}]},{"id":"462b7472-3c7b-4fa0-928e-49840dba07ba","order":58,"text":"The guarantee given under this Article is a continuing guarantee of payment and not merely of collection, and shall remain in full force and effect until all obligations secured by it have been fully paid and performed. The liability of the Guarantor shall not be released, discharged, or diminished by any indulgence, time, or other concession granted by the Vendor to the Purchaser, by any amendment to the Vendor Loan, or by any other act or omission that might otherwise operate to release a guarantor. The Vendor shall not be required to exhaust its recourse against the Purchaser before enforcing this guarantee against the Guarantor.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true,"displayConditions":[{"field":"20245a76-9cd0-4bf1-a538-b2d128468c14","value":"guar","type":"add","operator":"="}]},{"id":"a0d59a94-df6d-47a9-940b-61af32a1afcd","order":59,"text":"8. REPRESENTATIONS AND WARRANTIES OF THE VENDOR","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"6","cflou":false,"active":true,"marginTop":"18","sectionNum":"S08"},{"id":"8f108008-e52d-4eec-8ffc-4214316c24d9","order":60,"text":"The Vendor represents and warrants to the Purchaser, with the intent that the Purchaser will rely thereon in entering into this Agreement and in completing the transactions contemplated by it, as follows:","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"8ad08916-60aa-4eec-8c20-9495d968a626","order":61,"text":"The Vendor has the full power, capacity, and authority to enter into this Agreement and to perform its obligations hereunder, and this Agreement constitutes a legal, valid, and binding obligation of the Vendor enforceable in accordance with its terms.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"e9b0d84e-3bad-4341-9e9b-bac5779eb522","order":62,"text":"The Vendor is the legal and beneficial owner of the Assets, with good and marketable title thereto, free and clear of all Encumbrances save for the Assumed Liabilities, and has the right to sell, assign, and transfer the Assets to the Purchaser.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"assets","type":"add","operator":"="}]},{"id":"8a37f6ae-6199-47a6-b6db-d84dfa6ae821","order":63,"text":"The Assets comprise all of the property and assets necessary to carry on the Business as a going concern in the manner in which it has heretofore been carried on, and all tangible Assets are in good operating condition and repair, having regard to their use and age.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"assets","type":"add","operator":"="}]},{"id":"c4a36a79-fc35-4dd8-9a40-5789582bd09b","order":64,"text":"The Purchased Shares are validly issued, fully paid, and non-assessable, and constitute all of the issued and outstanding shares in the capital of the Corporation. The Vendor is the registered and beneficial owner of the Purchased Shares, with good and marketable title thereto, free and clear of all Encumbrances, and has the right to sell, assign, and transfer the Purchased Shares to the Purchaser.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"shares","type":"add","operator":"="}]},{"id":"9e2a7033-0583-4389-b5c7-2811ff58bdd8","order":65,"text":"The Corporation is duly incorporated, organized, and validly existing under the laws of its jurisdiction of incorporation, is in good standing with respect to the filing of annual returns, and has the corporate power to own its property and to carry on the Business as now conducted. There are no outstanding options, warrants, or other rights to acquire any shares in the capital of the Corporation.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"shares","type":"add","operator":"="}]},{"id":"3bb264be-89f1-4034-8c97-2522d0ab4202","order":66,"text":"No Conflict. The execution and delivery of this Agreement and the completion of the transactions contemplated by it do not and will not result in the breach or violation of any law applicable to the Vendor, of the constating documents of the Vendor (where the Vendor is a corporation), or of any agreement, indenture, or instrument to which the Vendor is a party or by which the Vendor or the Business is bound, and do not require any consent or approval other than those identified in this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"598f5471-580f-49fa-b61d-df106203bef5","order":67,"text":"Financial Statements. The financial statements of the Business made available to the Purchaser fairly present, in all material respects, the assets, liabilities, financial position, and results of operations of the Business as at and for the periods indicated, and have been prepared in accordance with generally accepted accounting principles applied on a basis consistent with prior periods.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"a98fd78f-78ff-4c93-b151-0df91031a6b1","order":68,"text":"No Material Adverse Change. Since the date of the most recent financial statements made available to the Purchaser, the Business has been carried on in the ordinary course, and there has been no material adverse change in the assets, liabilities, financial position, results of operations, or prospects of the Business.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"305ff5e2-ae95-4451-8784-8ac5a4694d7b","order":69,"text":"Taxes. All tax returns required to be filed in respect of the Business have been filed when due, and all taxes, assessments, and other governmental charges shown thereon, or otherwise due and payable, have been paid; all amounts required to be withheld and remitted in respect of employees, non-residents, and suppliers have been duly withheld and remitted; and there are no outstanding tax assessments, reassessments, audits, or disputes relating to the Business.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"849deb09-01cd-4d60-9526-469001b8c536","order":70,"text":"Employees. The Vendor has provided to the Purchaser accurate particulars of all employees of the Business, their positions, remuneration, and length of service. There are no collective agreements in force in respect of the employees of the Business except as disclosed, there is no labour dispute or proceeding pending or threatened, and all amounts owing to employees for wages, salaries, vacation pay, and benefits have been paid or are accrued in the books of the Business.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"f4b417f6-abd9-4ffa-9930-5d940330d9ac","order":71,"text":"Material Contracts. The Vendor has disclosed to the Purchaser all material contracts, leases, and commitments relating to the Business. Each such contract is in good standing, in full force and effect, and the Vendor is not in default thereunder, nor, to the knowledge of the Vendor, is any other party in default thereunder.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"4011d260-d45c-4d2d-9bf0-6f52db3b8928","order":72,"text":"Intellectual Property. The Vendor owns or is validly licensed to use all trademarks, trade names, copyrights, patents, domain names, and other intellectual property used in carrying on the Business, free of any infringement claim, and such intellectual property is sufficient to carry on the Business as presently conducted.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"dc1dd2a2-fcca-488c-91d4-999ab740d4f1","order":73,"text":"Real Property and Leases. The Vendor has good and valid title to, or a valid leasehold interest in, all real property used in the Business, and each lease relating to such property is in good standing and in full force and effect; the Vendor is not in default thereunder and has not received any notice of default.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"aacb845f-f46c-42e7-87ca-4be5dd2390ba","order":74,"text":"Compliance with Laws; Permits. The Business has been and is being carried on in compliance, in all material respects, with all applicable laws, and the Vendor holds all licences, permits, registrations, and authorizations necessary to carry on the Business, all of which are valid and in good standing.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"31d50a66-a47b-451e-8a48-4636b0fd4708","order":75,"text":"Environmental. To the knowledge of the Vendor, the Business has been operated in compliance, in all material respects, with all applicable environmental laws, and the Vendor has not received any order, notice, or direction alleging any breach of environmental laws in respect of the Business or any property used in the Business.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"8a315249-236d-481b-86c9-5784595da2e0","order":76,"text":"Litigation. There are no actions, suits, investigations, or proceedings pending or, to the knowledge of the Vendor, threatened against the Vendor or the Business, and there is no judgment, order, or decree outstanding against the Vendor or the Business that would materially and adversely affect the Business or the ability of the Vendor to complete the transactions contemplated by this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"c42a94c4-2523-47b3-a68c-71212439aa9b","order":77,"text":"Brokers. The Vendor has not engaged any broker, agent, or finder in connection with the transactions contemplated by this Agreement for whose commission or fee the Purchaser could become liable.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"241acbbe-72f4-46fa-8520-1b36617f8efb","order":78,"text":"Full Disclosure. No representation or warranty of the Vendor in this Agreement contains any untrue statement of a material fact or omits to state a material fact necessary in order to make the statements contained herein, in light of the circumstances in which they were made, not misleading.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"5f137548-8164-4c42-8ceb-17d99e5c7978","order":79,"text":"Survival. The representations and warranties of the Vendor set out in this Agreement shall survive the Closing and shall continue in full force and effect for the benefit of the Purchaser for a period of [Survival period, e.g. two (2) years] from the Closing Date, except that the representations and warranties relating to title to the Assets, and to taxes, shall survive for the period ending ninety (90) days after the expiry of the applicable limitation periods, and any representation or warranty made fraudulently shall survive without limitation.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"assets","type":"add","operator":"="}]},{"id":"049681fd-1a71-4c86-9510-e8eba35a2bf2","order":80,"text":"Survival. The representations and warranties of the Vendor set out in this Agreement shall survive the Closing and shall continue in full force and effect for the benefit of the Purchaser for a period of [Survival period, e.g. two (2) years] from the Closing Date, except that the representations and warranties relating to title to the Purchased Shares, and to taxes, shall survive for the period ending ninety (90) days after the expiry of the applicable limitation periods, and any representation or warranty made fraudulently shall survive without limitation.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"shares","type":"add","operator":"="}]},{"id":"10232042-0106-4fe9-b1e3-f44a85b73110","order":81,"text":"9. REPRESENTATIONS AND WARRANTIES OF THE PURCHASER","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"6","cflou":false,"active":true,"marginTop":"18","sectionNum":"S09"},{"id":"b823c499-06dd-4ca7-972b-b41b5db569fd","order":82,"text":"The Purchaser represents and warrants to the Vendor, with the intent that the Vendor will rely thereon, as follows:","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"2cb1d8bb-9f28-4f31-bbde-374fe60f1f87","order":83,"text":"The Purchaser has the full power, capacity, and authority to enter into this Agreement and to perform its obligations hereunder, and this Agreement constitutes a legal, valid, and binding obligation of the Purchaser enforceable in accordance with its terms.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"683be56b-7878-4210-8f7a-fcff7db59a75","order":84,"text":"The entering into of this Agreement and the completion of the transactions contemplated by it will not result in the violation of any law applicable to the Purchaser or of any agreement or instrument to which the Purchaser is a party or by which it is bound, and do not require any consent or approval other than those identified in this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"d5f406e8-7ea8-4c57-8254-ab79082bc3c7","order":85,"text":"The Purchaser has, or will have available on the Closing Date, sufficient funds to pay the Purchase Price and to complete the transactions contemplated by this Agreement in accordance with its terms.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"7aefc928-4dff-4de5-9451-7f564fb015cd","order":86,"text":"The Purchaser is, or will be on the Closing Date, a registrant for purposes of the goods and services tax and harmonized sales tax under the Excise Tax Act (Canada).","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"assets","type":"add","operator":"="}]},{"id":"839366a0-8f72-48de-a5ba-4a27f345fb5b","order":87,"text":"The Purchaser has not engaged any broker, agent, or finder in connection with the transactions contemplated by this Agreement for whose commission or fee the Vendor could become liable.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"1ea4262a-3ed9-4adc-bf1e-ad3f75940f96","order":88,"text":"The Purchaser has conducted its own investigation of the Business and acknowledges that, except for the representations and warranties expressly set out in this Agreement, the Vendor has not made any representation or warranty, express or implied, with respect to the Business.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"dcce8c8b-bd77-4778-9d5e-57738c4c2542","order":89,"text":"The representations and warranties of the Purchaser set out in this Agreement shall survive the Closing and shall continue in full force and effect for the benefit of the Vendor for a period of [Survival period, e.g. two (2) years] from the Closing Date.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true},{"id":"4c5b4f0e-be17-427f-97d1-61890fa3be9d","order":90,"text":"10. COVENANTS","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"6","cflou":false,"active":true,"marginTop":"18","sectionNum":"S10"},{"id":"2c5c54ce-ebfb-49a0-a76a-d0681c18c4b7","order":91,"text":"Conduct of Business. From the date of this Agreement until the Closing Date, the Vendor shall carry on the Business in the ordinary and normal course, consistent with past practice, and shall preserve the Business and its goodwill, relationships with customers, suppliers, and employees, and its assets and undertaking. The Vendor shall not, without the prior written consent of the Purchaser, enter into any material transaction or incur any material liability outside the ordinary course of business, dispose of or encumber any material asset of the Business, increase the compensation of any employee other than in the ordinary course, or amend or terminate any material contract.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"80f0088d-dca5-424b-9a20-c807ca3fe0fa","order":92,"text":"Access and Due Diligence. The Vendor shall give the Purchaser and its representatives reasonable access, during normal business hours and upon reasonable notice, to the premises, books, records, contracts, and personnel of the Business for the purpose of completing the Purchaser's due diligence, and shall furnish such information concerning the Business as the Purchaser may reasonably request.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"e6f65c76-05b0-4839-8b7b-81a821666539","order":93,"text":"Consents. The Parties shall use commercially reasonable efforts to obtain, prior to the Closing Date, all consents, approvals, and authorizations of third parties and governmental authorities required in connection with the transactions contemplated by this Agreement, including any consents required for the assignment of material contracts and leases.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"450d905b-8a85-46a5-bf9f-cfd6807d3ef9","order":94,"text":"Risk of Loss. The Business and its assets shall remain at the risk of the Vendor until the Closing. If, before the Closing, any material part of the assets and undertaking of the Business is lost, damaged, or destroyed, the Purchaser may, at its option, terminate this Agreement, complete the purchase and receive the proceeds of any insurance, or require the Vendor to repair or replace the affected property.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"32efe428-0f64-4bec-8855-5532c80a7ef1","order":95,"text":"Pre-Closing Confidentiality. Each Party shall keep confidential all information concerning the other Party and the Business obtained in connection with this Agreement, and, if the transaction is not completed, shall return or destroy all such information and shall not use it for any purpose.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"5f7b4d12-53d2-4b68-b2a0-587b3efd9cc9","order":96,"text":"Efforts and Notice. Each Party shall use commercially reasonable efforts to satisfy, on or before the Closing Date, all conditions within its control, and shall promptly notify the other Party of any matter that would cause any of its representations or warranties to become untrue or that would prevent the satisfaction of any condition of Closing.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true},{"id":"fda7a594-1181-452c-80d0-59a5e11d0932","order":97,"text":"11. EMPLOYEES","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"6","cflou":false,"active":true,"marginTop":"18","sectionNum":"S11"},{"id":"df5401f0-7077-4f23-a207-fda1928f09a5","order":98,"text":"On or before the Closing Date, the Purchaser shall offer employment, effective as of the Closing Date, to such of the employees of the Business as the Purchaser may determine, on terms and conditions that are, in the aggregate, substantially similar to those under which such employees are currently employed and that recognize their prior service for the purposes of statutory entitlements. The Vendor shall terminate the employment of all employees who accept such offers, effective as of the Closing Date, and shall be responsible for all wages, salaries, vacation pay, and other amounts accrued in respect of all employees up to the Closing Date.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"assets","type":"add","operator":"="}]},{"id":"871c5d45-97d2-46d4-92cc-6c8dac0c1809","order":99,"text":"The Vendor shall be solely responsible for all severance, termination, and notice obligations in respect of any employee of the Business who is not offered employment by the Purchaser, or who does not accept the Purchaser's offer of employment, and shall indemnify the Purchaser in respect thereof.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"assets","type":"add","operator":"="}]},{"id":"f5859a73-1eea-465a-96fd-0134b98744b0","order":100,"text":"The employees of the Business are employed by the Corporation and, the Corporation continuing in existence following the Closing, their employment shall continue uninterrupted on and after the Closing Date in accordance with their existing terms of employment. No notice, severance, or termination obligation arises in respect of the employees by reason only of the completion of the transactions contemplated by this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"shares","type":"add","operator":"="}]},{"id":"30276900-71f3-4237-a387-8ec9fa62517a","order":101,"text":"12. BULK SALES","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"6","cflou":false,"active":true,"displayConditions":[{"field":"a34737d3-6292-47a7-b355-51cef5139c24","value":"1","type":"add","operator":"="},{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"shares","type":"remove","operator":"="}],"marginTop":"18","sectionNum":"S12"},{"id":"423afa94-4c90-4c85-9a86-b930b057094f","order":102,"text":"The Parties shall comply with the requirements of any applicable bulk sales legislation in respect of the sale of the Assets, or shall jointly take such steps as are necessary to waive or exempt the transaction from such legislation where permitted. The Vendor shall deliver to the Purchaser, on or before the Closing Date, a statement, verified by statutory declaration, listing the names and addresses of all creditors of the Business and the amounts owing to each, together with such consents, waivers, or releases as may be required. The Vendor shall indemnify and save the Purchaser harmless from all claims of creditors of the Business arising by reason of any non-compliance with such legislation.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true,"displayConditions":[{"field":"a34737d3-6292-47a7-b355-51cef5139c24","value":"1","type":"add","operator":"="},{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"shares","type":"remove","operator":"="}]},{"id":"faba4e83-0a47-437b-9815-dfabc23c2623","order":103,"text":"13. CONDITIONS OF CLOSING","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"6","cflou":false,"active":true,"marginTop":"18","sectionNum":"S13"},{"id":"f8e7e54a-f717-413d-b358-9f07397ee8aa","order":104,"text":"Conditions for the Purchaser. The obligation of the Purchaser to complete the transactions contemplated by this Agreement is subject to the following conditions being satisfied at or before the Closing Date, which conditions are for the exclusive benefit of the Purchaser and may be waived by it in writing: (i) the representations and warranties of the Vendor shall be true and correct in all material respects as at the Closing Date; (ii) the Vendor shall have performed all of its covenants and obligations under this Agreement; (iii) no material adverse change shall have occurred in the Business; (iv) all consents and approvals of third parties and governmental authorities required to complete the transactions and to assign the material contracts and leases of the Business shall have been obtained; and (v) the Vendor shall have delivered all closing documents required of it under the Article entitled \"CLOSING\".","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"0ad5a814-a46c-4b67-8b1d-809030da6b84","order":105,"text":"In addition, the obligation of the Purchaser to complete the transactions contemplated by this Agreement is conditional upon the Purchaser obtaining, on or before [Financing deadline], financing on terms satisfactory to the Purchaser, acting reasonably, in an amount sufficient to pay the Purchase Price. If this condition is not satisfied or waived by the Purchaser by such date, either Party may terminate this Agreement by written notice, whereupon any deposit paid shall be returned to the Purchaser and neither Party shall have any further liability to the other.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"6c95526e-8d04-4122-bd4f-c22dd4f83afb","value":"1","type":"add","operator":"="}]},{"id":"e6540d42-f2d3-4f3f-ab8b-fc81a329bd32","order":106,"text":"Conditions for the Vendor. The obligation of the Vendor to complete the transactions contemplated by this Agreement is subject to the following conditions being satisfied at or before the Closing Date, which conditions are for the exclusive benefit of the Vendor and may be waived by it in writing: (i) the representations and warranties of the Purchaser shall be true and correct in all material respects as at the Closing Date; (ii) the Purchaser shall have performed all of its covenants and obligations under this Agreement; and (iii) the Purchaser shall have tendered payment of the Purchase Price and delivered all closing documents required of it under the Article entitled \"CLOSING\".","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"4074790c-8667-4d40-a1e6-3dd733a586ba","order":107,"text":"Non-Satisfaction. If any condition of Closing for the benefit of a Party is not satisfied or waived on or before the Closing Date, that Party may terminate this Agreement in accordance with the Article entitled \"TERMINATION\", without prejudice to any rights arising from a prior breach.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true},{"id":"ed2e10cf-c8e9-4759-bfa1-9410f99eb203","order":108,"text":"14. NON-COMPETITION AND NON-SOLICITATION","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"6","cflou":false,"active":true,"displayConditions":[{"field":"e2231f76-4a52-4d65-8570-8b3bb5ccfd9f","value":"1","type":"add","operator":"="}],"marginTop":"18","sectionNum":"S14"},{"id":"8ad2c7d8-0a49-4906-bcc6-21254b063254","order":109,"text":"In order to protect the goodwill being acquired by the Purchaser, the Vendor covenants and agrees that, for a period of [Number of years] years from the Closing Date, the Vendor shall not, directly or indirectly, whether as principal, agent, employee, shareholder, or otherwise, carry on or be engaged in any business that competes with the Business within [Geographic area].","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"e2231f76-4a52-4d65-8570-8b3bb5ccfd9f","value":"1","type":"add","operator":"="}]},{"id":"29e5a454-7032-4304-a1c5-dfdeeaa82f4b","order":110,"text":"During the same period, the Vendor shall not, directly or indirectly, solicit, entice away, or attempt to solicit or entice away from the Purchaser any customer, supplier, or employee of the Business, nor interfere with the relationship between the Purchaser and any such customer, supplier, or employee.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"e2231f76-4a52-4d65-8570-8b3bb5ccfd9f","value":"1","type":"add","operator":"="}]},{"id":"4e5d9ba2-0e14-4443-8874-05773bf245b5","order":111,"text":"The Vendor acknowledges that the restrictions in this Article are reasonable and necessary to protect the legitimate interests of the Purchaser, that the consideration received by the Vendor is sufficient consideration for these covenants, and that a breach of this Article would cause the Purchaser irreparable harm not adequately compensable in damages, such that the Purchaser shall be entitled to seek injunctive relief in addition to any other remedy. If any restriction in this Article is found to be unenforceable, it shall be severed and the remaining restrictions shall continue in full force and effect.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true,"displayConditions":[{"field":"e2231f76-4a52-4d65-8570-8b3bb5ccfd9f","value":"1","type":"add","operator":"="}]},{"id":"9fb2f99b-4262-4278-aa69-ffd6fff7aad0","order":112,"text":"15. TRANSITION ASSISTANCE","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"6","cflou":false,"active":true,"displayConditions":[{"field":"9bb8a3e6-3e7b-43e8-982d-eeb096d52ae5","value":"1","type":"add","operator":"="}],"marginTop":"18","sectionNum":"S15"},{"id":"e4913d95-3ae2-416c-8c2f-48f3115d64de","order":113,"text":"Following the Closing Date, the Vendor shall provide to the Purchaser such reasonable assistance and consultation as may be required to ensure an orderly transition of the Business to the Purchaser, including the introduction of the Purchaser to customers and suppliers and the training of the Purchaser's personnel, for a period of [Transition period, e.g. ninety (90) days] following the Closing Date.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"9bb8a3e6-3e7b-43e8-982d-eeb096d52ae5","value":"1","type":"add","operator":"="}]},{"id":"2d1cfc18-dfc9-4cba-8c35-ed0b2b9b15e0","order":114,"text":"Such transition assistance shall be provided for up to [Number of hours per week] hours per week. The Vendor shall be reimbursed for reasonable out-of-pocket expenses incurred in providing such assistance, but shall not otherwise be entitled to additional compensation for the transition assistance contemplated by this Article.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true,"displayConditions":[{"field":"9bb8a3e6-3e7b-43e8-982d-eeb096d52ae5","value":"1","type":"add","operator":"="}]},{"id":"5652fcff-5bc0-45cf-a2f9-68c4dcd9365d","order":115,"text":"16. CLOSING","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"6","cflou":false,"active":true,"marginTop":"18","sectionNum":"S16"},{"id":"e610fb92-2e0f-4554-ae57-27bc4b8c85f4","order":116,"text":"Time and Place. The Closing shall take place at [Closing time, e.g. 10:00 a.m.] on the Closing Date at the offices of [Place of closing], or at such other time or place or by such other means (including by electronic exchange of documents and funds) as the Parties may agree.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"5fdc6eed-0218-4be6-980f-4fa94353a8e9","order":117,"text":"Vendor's Closing Deliveries. On the Closing Date, the Vendor shall execute and deliver to the Purchaser: a bill of sale and general conveyance transferring the Assets; assignments of all contracts, leases, intellectual property, and permits capable of assignment, together with the consents required for their assignment; elections under the Excise Tax Act (Canada) where applicable; a certificate confirming the truth of the Vendor's representations and warranties as at the Closing Date; possession of the Assets; and all such further instruments and documents as may reasonably be required to convey good and marketable title to the Assets free and clear of all Encumbrances.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"assets","type":"add","operator":"="}]},{"id":"5cb68eaa-bd23-428f-bdcb-d09572a8e81f","order":118,"text":"Vendor's Closing Deliveries. On the Closing Date, the Vendor shall execute and deliver to the Purchaser: share certificates representing the Purchased Shares duly endorsed for transfer; certified resolutions of the directors of the Corporation authorizing the transfer of the Purchased Shares and the entry of the Purchaser in the securities register; resignations and releases of all directors and officers of the Corporation; the corporate minute books, securities registers, and seal of the Corporation; a certificate confirming the truth of the Vendor's representations and warranties as at the Closing Date; and all such further instruments and documents as may reasonably be required to convey good and marketable title to the Purchased Shares free and clear of all Encumbrances.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"shares","type":"add","operator":"="}]},{"id":"99cddad6-1218-4e2e-877f-aa1d7036afe7","order":119,"text":"Purchaser's Closing Deliveries. On the Closing Date, the Purchaser shall pay the balance of the Purchase Price in accordance with the Article entitled \"PURCHASE PRICE\", deliver a certificate confirming the truth of the Purchaser's representations and warranties as at the Closing Date, and execute and deliver any promissory note, guarantee, assumption of liabilities, and other instruments and documents required to complete the transactions contemplated by this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"6293161f-250e-446f-8b98-76d4f2d50448","order":120,"text":"Further Assurances. Each Party shall, from time to time after the Closing Date, at the request and expense of the requesting Party, execute and deliver such further documents and do such further acts as may reasonably be required to give full effect to this Agreement and to the transactions contemplated by it.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true},{"id":"e467f48b-50a3-4e75-a58b-6caffde47c12","order":121,"text":"17. INDEMNIFICATION","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"6","cflou":false,"active":true,"marginTop":"18","sectionNum":"S17"},{"id":"ef06f93c-8e22-4ebf-86c2-42c87f439f4b","order":122,"text":"Indemnity by the Vendor. The Vendor shall indemnify and save harmless the Purchaser (and, where the Purchaser is a corporation, its directors, officers, and employees) from and against all losses, damages, liabilities, deficiencies, costs, and expenses, including reasonable legal fees on a full indemnity basis (collectively, \"Losses\"), suffered or incurred by the Purchaser as a result of any breach or inaccuracy of any representation, warranty, covenant, or obligation of the Vendor contained in this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"c2231f07-6d6f-406b-b20b-98a990a5d575","order":123,"text":"The indemnity given by the Vendor under this Article extends to all Losses suffered or incurred by the Purchaser as a result of any liability of the Business other than the Assumed Liabilities.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"assets","type":"add","operator":"="}]},{"id":"dc6a4e04-4c86-4e73-a26f-743094899484","order":124,"text":"Indemnity by the Purchaser. The Purchaser shall indemnify and save harmless the Vendor from and against all Losses suffered or incurred by the Vendor as a result of any breach or inaccuracy of any representation, warranty, covenant, or obligation of the Purchaser contained in this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"859c9474-5ecb-4da6-a1d9-6e2eee0a9773","order":125,"text":"The indemnity given by the Purchaser under this Article extends to all Losses suffered or incurred by the Vendor as a result of any failure by the Purchaser to pay, perform, or discharge the Assumed Liabilities.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a5edf94c-558e-478a-97d4-21e7aa916dc3","value":"assets","type":"add","operator":"="}]},{"id":"062ba261-5eed-42ae-a22c-f552a9b8050a","order":126,"text":"Threshold and Limits. No Party shall be entitled to make a claim for indemnification in respect of a breach of a representation or warranty unless and until the aggregate of all Losses of that Party exceeds [Basket / threshold amount] CAD, in which event that Party shall be entitled to recover all of its Losses and not merely the excess. The aggregate liability of a Party for indemnification in respect of breaches of representations and warranties shall not exceed [Indemnity cap] CAD; provided that this threshold and this limit shall not apply to Losses arising from a breach of a representation or warranty relating to title, to taxes, or from any fraud or intentional misrepresentation.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"d0eaf66d-d53e-4f79-bbe0-e1ed5ff1ee45","order":127,"text":"Time Limits. A claim for indemnification in respect of a breach of a representation or warranty must be made within the applicable survival period specified in this Agreement. There is no time limit for a claim based on fraud or intentional misrepresentation, or in respect of a covenant to be performed after the Closing.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"78f7eb32-6fae-4eb4-acbe-b0058a4829d0","order":128,"text":"Procedure. A claim for indemnification shall be made by written notice to the indemnifying Party setting out, in reasonable detail, the basis for and the amount (if then determinable) of the claim. In the case of a claim by a third party, the indemnifying Party shall have the right, upon written notice and acknowledgment of its indemnity obligation, to assume the defence of the claim with counsel of its choice, and the indemnified Party shall co-operate in such defence; no claim shall be settled without the consent of the indemnified Party, such consent not to be unreasonably withheld.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"c08f9121-dd25-4a6e-8239-19ab5c13acfe","order":129,"text":"Exclusive Remedy. Except in the case of fraud or intentional misrepresentation, and except for the right to seek specific performance or injunctive relief, the indemnification provided in this Article constitutes the sole and exclusive remedy of the Parties for any matter arising under this Agreement. The provisions of this Article shall survive the Closing and the termination of this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true},{"id":"61429188-39e0-4ae9-8578-4aad2d177fc2","order":130,"text":"18. TERMINATION","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"6","cflou":false,"active":true,"marginTop":"18","sectionNum":"S18"},{"id":"fd9957ed-3ecc-4c71-954b-27eae0a2a96f","order":131,"text":"This Agreement may be terminated at any time before the Closing: (i) by the mutual written consent of the Parties; (ii) by either Party, by written notice to the other, if a condition of Closing for the benefit of the terminating Party has not been satisfied or waived on or before the Closing Date, otherwise than by reason of the terminating Party's own default; (iii) by either Party, by written notice to the other, if the other Party is in material breach of this Agreement and such breach has not been cured within ten (10) Business Days after written notice; or (iv) by either Party if the Closing has not occurred by [Outside date] (the \"Outside Date\"), otherwise than by reason of the terminating Party's own default.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"5abf6c6f-e20d-45ad-b268-4c872f4bcaa8","order":132,"text":"Effect of Termination. Upon termination of this Agreement, the Parties shall be released from all obligations under this Agreement, save for those obligations that by their nature or by express provision survive termination, including the obligations of confidentiality and indemnification, and any deposit shall be dealt with in accordance with this Agreement. Termination shall be without prejudice to any right or remedy of a Party arising from a breach of this Agreement occurring before termination.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true},{"id":"9ddd1b74-5793-432c-9b89-fe302dafce4d","order":133,"text":"19. GENERAL PROVISIONS","fontSize":"16","textAlign":"left","bold":true,"underline":true,"marginBottom":"6","cflou":false,"active":true,"marginTop":"18","sectionNum":"S19"},{"id":"ae840331-6672-471b-9134-85f963b9b0d2","order":134,"text":"Entire Agreement. This Agreement, together with the schedules attached hereto, constitutes the entire agreement between the Parties with respect to its subject matter and supersedes all prior agreements, representations, and understandings, whether written or oral.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"c0bb019d-c112-47f2-9c37-cb1cb9d2e28b","order":135,"text":"Amendment and Waiver. No amendment to this Agreement shall be effective unless made in writing and signed by both Parties. No waiver of any provision of this Agreement shall be effective unless in writing, and no waiver shall constitute a waiver of any other provision or a continuing waiver.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"8aa17fe4-be78-4c75-b78f-9d6dfb90a422","order":136,"text":"Notices. Any notice under this Agreement shall be in writing and shall be delivered personally, sent by registered mail, or sent by electronic transmission to the address of the recipient set out in this Agreement, and shall be deemed to have been received on the day of delivery if delivered personally or by electronic transmission, or on the fifth Business Day after mailing if sent by registered mail.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"bfd53dd4-98ba-4c40-93ea-8f2bcfa91d56","order":137,"text":"Assignment. Neither Party may assign this Agreement or any rights or obligations under it without the prior written consent of the other Party, except that the Purchaser may assign this Agreement to an affiliate provided that the Purchaser remains liable for the performance of all obligations hereunder.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"7e785482-8c2c-4040-95b0-39a8877135c9","order":138,"text":"Confidentiality. Each Party shall keep confidential all information concerning the other Party and the Business obtained in connection with this Agreement and shall not use or disclose such information except as required to complete the transactions contemplated by this Agreement or as required by law.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"86728e5f-2caf-4331-9b3c-a9c6eb03e344","order":139,"text":"Time of the Essence. Time shall be of the essence of this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"3d62b9bb-d68a-462d-b426-748f6705c06f","order":140,"text":"Severability. If any provision of this Agreement is determined to be invalid or unenforceable, that provision shall be severed and the remaining provisions shall continue in full force and effect.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"c9447226-0a89-473c-8926-2550af746b54","order":141,"text":"Successors and Assigns. This Agreement shall enure to the benefit of and be binding upon the Parties and their respective heirs, executors, administrators, successors, and permitted assigns.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"2e734e88-143c-45cf-b267-81e4b52c8b4d","order":142,"text":"Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the Province of [Governing province] and the laws of Canada applicable therein. The Parties irrevocably attorn to the exclusive jurisdiction of the courts of that Province.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"0695cd1d-dec0-43c2-8168-f3b5bd84bf8f","order":143,"text":"Dispute Resolution. The Parties shall attempt in good faith to resolve any dispute arising out of or in connection with this Agreement through negotiation and, failing resolution, through mediation administered by a mediator agreed upon by the Parties, before resorting to litigation.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"00160a2e-470e-4f06-a239-1c50c4e15c21","order":144,"text":"Public Announcements. Neither Party shall make any public announcement or disclosure concerning this Agreement or the transactions contemplated by it without the prior written consent of the other Party, except as required by law or by the rules of any applicable regulatory authority, in which case the disclosing Party shall, to the extent practicable, consult with the other Party as to the form and content of the disclosure.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"26aca274-fe2a-4673-82d8-4b6d0aaeffab","order":145,"text":"Expenses. Except as otherwise expressly provided in this Agreement, each Party shall bear its own legal, accounting, and other costs and expenses incurred in connection with the negotiation, preparation, and completion of this Agreement and the transactions contemplated by it.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"d206083b-3731-473e-b74d-bd68c317d8ec","order":146,"text":"Counterparts. 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