[{"id":"30694b55-8f5b-4e5c-baad-2258b73b8e45","order":1,"text":"LETTER OF INTENT","fontSize":"20","textAlign":"center","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"3e920476-5ebd-4874-8632-e4b46d080a5a","order":2,"text":"(Asset Purchase)","fontSize":"14","textAlign":"center","bold":false,"underline":false,"marginBottom":"20","cflou":false,"active":true},{"id":"67cf9b07-c68f-4c96-aec8-bc48a8229a77","order":3,"text":"Dated as of [Date], at [City], [Province/Territory], Canada.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"20","cflou":false,"active":true},{"id":"a801cd2f-13bb-4395-8d7e-2557f44e049b","order":4,"text":"TO:","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"5","cflou":false,"active":true},{"id":"267eeb66-831c-4002-9fdd-295cc8d8a6d2","order":5,"text":"[Recipient full name], an individual residing at [Recipient address] (the "Recipient").","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"24cd7284-d0d3-4ce2-81da-38e7666798cd","value":"CORP","type":"remove","operator":"="}]},{"id":"d72f7054-9f31-4c62-a75f-159608411d82","order":6,"text":"[Recipient corporate name], a corporation incorporated under the laws of [Jurisdiction of incorporation], having its registered office at [Recipient registered office], represented by [Authorized signatory], its [Title] (the "Recipient").","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"24cd7284-d0d3-4ce2-81da-38e7666798cd","value":"IND","type":"remove","operator":"="}]},{"id":"64aa8ce4-27ef-4ae9-a4d6-7a3f1de4dd66","order":7,"text":"FROM:","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"5","cflou":false,"active":true},{"id":"75c8f5cc-6a31-48da-994e-527f207b30db","order":8,"text":"[Your full name], an individual residing at [Your address] (the "Offeror").","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"0d88f142-a475-44cd-b0ed-5252fc8da550","value":"CORP","type":"remove","operator":"="}]},{"id":"599426b7-350f-40aa-b5a8-31ddd4250ee8","order":9,"text":"[Your corporate name], a corporation incorporated under the laws of [Jurisdiction of incorporation], having its registered office at [Your registered office], represented by [Authorized signatory], its [Title] (the "Offeror").","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"0d88f142-a475-44cd-b0ed-5252fc8da550","value":"IND","type":"remove","operator":"="}]},{"id":"0f6f5a0d-00cb-4e9a-84ce-a12740313a2f","order":10,"text":"The Offeror and the Recipient are collectively referred to as the "Parties" and each individually as a "Party".","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"20","cflou":false,"active":true},{"id":"83bb5c5c-aca9-42ee-9fd6-a06dee41721c","order":11,"text":"RE: Proposed acquisition of substantially all of the assets of [Target business name] (the "Proposed Transaction")","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"506b21e2-d3e6-4691-aa81-ec3d17bd2cf9","value":"Asset Purchase","type":"add","operator":"="}]},{"id":"ea241c6e-54f4-4354-944b-08cffa367bdc","order":12,"text":"RE: Proposed acquisition of the issued and outstanding shares of [Target company name] (the "Proposed Transaction")","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"506b21e2-d3e6-4691-aa81-ec3d17bd2cf9","value":"Share Purchase","type":"add","operator":"="}]},{"id":"42d16c25-6af2-42d4-ab7c-a542f43e2a76","order":13,"text":"RE: Proposed business partnership in respect of [Venture or business name] (the "Proposed Transaction")","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"506b21e2-d3e6-4691-aa81-ec3d17bd2cf9","value":"Business Partnership","type":"add","operator":"="}]},{"id":"f4b1ae7c-a0cf-4a03-b471-4d51d31924ef","order":14,"text":"This letter of intent (this "Letter") sets out the principal terms and conditions upon which the Offeror proposes to proceed with the Proposed Transaction with the Recipient, with a view to the negotiation and execution of a definitive written agreement satisfactory to the Parties and their respective counsel (the "Definitive Agreement"). Except as expressly provided in the Section entitled "Binding Effect", this Letter is intended to be a statement of the Parties' mutual intentions and does not constitute a binding or enforceable agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"20","cflou":false,"active":true,"displayConditions":[{"field":"415fbd0b-bd64-4496-b6ae-2592a70e899d","value":"binding","type":"remove","operator":"="}]},{"id":"333b1ce6-fb87-40cc-893f-24ae92ee5b5c","order":15,"text":"This letter of intent (this "Letter") sets out the principal terms and conditions upon which the Offeror proposes to proceed with the Proposed Transaction with the Recipient, with a view to the negotiation and execution of a definitive written agreement satisfactory to the Parties and their respective counsel (the "Definitive Agreement"). As set out in the Section entitled "Binding Effect", the Parties intend this Letter to be a legally binding and enforceable agreement, pending the negotiation and execution of the Definitive Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"20","cflou":false,"active":true,"displayConditions":[{"field":"415fbd0b-bd64-4496-b6ae-2592a70e899d","value":"nonbinding","type":"remove","operator":"="}]},{"id":"c910358e-8e09-497b-a643-46935da5bd66","order":16,"text":"1. PROPOSED TRANSACTION","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S01"},{"id":"25e5f687-3e05-4649-b0fa-e5c6b07a94ce","order":17,"text":"Subject to the terms of this Letter and to the negotiation and execution of the Definitive Agreement, the Offeror proposes to purchase, and the Recipient proposes to sell, substantially all of the assets, properties and undertaking used in connection with the business carried on by the Recipient under the name [Target business name] (the "Business"), including goodwill, inventory, equipment, contracts and intellectual property, but excluding such assets as the Parties may agree to exclude (the "Purchased Assets").","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"506b21e2-d3e6-4691-aa81-ec3d17bd2cf9","value":"Asset Purchase","type":"add","operator":"="}]},{"id":"258b024c-1221-43a9-84a6-be41d117bd16","order":18,"text":"Subject to the terms of this Letter and to the negotiation and execution of the Definitive Agreement, the Offeror proposes to purchase, and the Recipient proposes to sell, [Number or percentage of shares] of the issued and outstanding shares in the capital of [Target company name] (the "Corporation"), free and clear of all liens, charges and encumbrances (the "Purchased Shares").","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"506b21e2-d3e6-4691-aa81-ec3d17bd2cf9","value":"Share Purchase","type":"add","operator":"="}]},{"id":"aa0e4daa-9119-4e54-bc2a-60108a9794bd","order":19,"text":"Subject to the terms of this Letter and to the negotiation and execution of the Definitive Agreement, the Parties propose to establish a business partnership or joint venture to carry on [Description of the venture] (the "Venture"), with the respective contributions, ownership interests and governance to be set out in the Definitive Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"506b21e2-d3e6-4691-aa81-ec3d17bd2cf9","value":"Business Partnership","type":"add","operator":"="}]},{"id":"88cd9b1a-946b-452a-90fa-11898e0fb5e1","order":20,"text":"2. CONSIDERATION","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S02"},{"id":"feb51c0f-94ce-4304-969f-a7d85c19a0a7","order":21,"text":"The aggregate purchase price for the Proposed Transaction is proposed to be CAD $[Purchase price] (the "Purchase Price"), subject to customary adjustments to be set out in the Definitive Agreement, and payable as follows: [Payment terms].","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"506b21e2-d3e6-4691-aa81-ec3d17bd2cf9","value":"Business Partnership","type":"remove","operator":"="}]},{"id":"f3dd6c2c-6a1b-4f24-8f5d-6263aa8f685b","order":22,"text":"The Offeror proposes to contribute CAD $[Contribution amount] to the Venture in exchange for a [Ownership percentage]% ownership interest, with the remaining interests and contributions of the other Party to be set out in the Definitive Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"506b21e2-d3e6-4691-aa81-ec3d17bd2cf9","value":"Business Partnership","type":"add","operator":"="}]},{"id":"c74b5d2c-ce98-414c-9dd0-45de6f72b746","order":23,"text":"The structure of the Proposed Transaction (including its allocation and tax treatment) will be determined by the Parties, acting reasonably, in the Definitive Agreement so as to be tax-efficient for both Parties to the extent commercially practicable.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"5ca81291-7ebb-4e41-8db7-ac0feccf00d4","order":24,"text":"3. DEPOSIT","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","displayConditions":[{"field":"8315e275-ec85-44d9-b1d5-408db88821db","value":"1","type":"add","operator":"="}],"sectionNum":"S03"},{"id":"9080a02c-04eb-4c16-a4c0-70478bc0d0cd","order":25,"text":"Upon execution of this Letter, the Offeror will pay a deposit of CAD $[Deposit amount] (the "Deposit"), to be held [in trust by the Recipient's solicitors / as otherwise agreed]. The Deposit will be credited against the Purchase Price on closing of the Proposed Transaction and is refundable to the Offeror if the Proposed Transaction does not close for any reason other than the Offeror's default, all as more particularly set out in the Definitive Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"8315e275-ec85-44d9-b1d5-408db88821db","value":"1","type":"add","operator":"="},{"field":"506b21e2-d3e6-4691-aa81-ec3d17bd2cf9","value":"Business Partnership","type":"remove","operator":"="}]},{"id":"738b115b-7833-47b4-a025-f3ea1f9ecdc1","order":26,"text":"Upon execution of this Letter, the Offeror will pay a deposit of CAD $[Deposit amount] (the "Deposit"), to be held [in trust by the Recipient's solicitors / as otherwise agreed]. The Deposit will be credited against the Offeror's contribution to the Venture on closing of the Proposed Transaction and is refundable to the Offeror if the Proposed Transaction does not close for any reason other than the Offeror's default, all as more particularly set out in the Definitive Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"8315e275-ec85-44d9-b1d5-408db88821db","value":"1","type":"add","operator":"="},{"field":"506b21e2-d3e6-4691-aa81-ec3d17bd2cf9","value":"Asset Purchase","type":"remove","operator":"="},{"field":"506b21e2-d3e6-4691-aa81-ec3d17bd2cf9","value":"Share Purchase","type":"remove","operator":"="}]},{"id":"27f877a3-255e-4871-8be4-1830f90710ff","order":27,"text":"4. DUE DILIGENCE","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","displayConditions":[{"field":"42f14c53-050a-4a07-8526-8d0f17d4cbfa","value":"1","type":"add","operator":"="}],"sectionNum":"S04"},{"id":"373b64f7-c0eb-46ab-9003-3ac2553ba1f9","order":28,"text":"The Offeror's willingness to proceed with the Proposed Transaction is subject to the satisfactory completion, in the Offeror's sole discretion, of a due diligence review of the subject matter of the Proposed Transaction, including its financial, legal, tax, operational, environmental, intellectual property and commercial affairs. The Recipient will, and will cause its representatives to, provide the Offeror and its advisors with reasonable access during normal business hours to all books, records, contracts, premises, personnel and other information reasonably requested. The due diligence period is proposed to run for [Number of days] days from the date of this Letter.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"42f14c53-050a-4a07-8526-8d0f17d4cbfa","value":"1","type":"add","operator":"="}]},{"id":"48808e7e-5ed8-42bf-9b41-dbe133e41c14","order":29,"text":"5. EXCLUSIVITY","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","displayConditions":[{"field":"d47615ef-8633-4e7d-a2d2-902bc9935594","value":"1","type":"add","operator":"="}],"sectionNum":"S05"},{"id":"9ee9f549-9bd8-4d37-8e08-6a5268c2a2a9","order":30,"text":"In consideration of the time and expense the Offeror will incur in pursuing the Proposed Transaction, the Recipient agrees that, for a period of [Number of days] days from the date of this Letter (the "Exclusivity Period"), neither the Recipient nor any of its affiliates, directors, officers, shareholders, partners, employees or representatives will, directly or indirectly: (i) solicit, initiate, encourage, entertain or engage in any discussions or negotiations with, or provide any information to, any person other than the Offeror in respect of any sale, transfer, financing, recapitalization or other disposition of the subject matter of the Proposed Transaction or any material part thereof; or (ii) approach, solicit or circumvent the Offeror in respect of any opportunity disclosed in connection with the Proposed Transaction. The Recipient will promptly notify the Offeror of any such unsolicited approach received during the Exclusivity Period and will not enter into any agreement, letter of intent or commitment with any third party inconsistent with this Section. This Section is one of the binding provisions of this Letter.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"d47615ef-8633-4e7d-a2d2-902bc9935594","value":"1","type":"add","operator":"="}]},{"id":"a70ac105-eaa7-4e43-aa77-ff9f6654bc71","order":31,"text":"6. CONFIDENTIALITY","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S06"},{"id":"926df661-2ecf-4998-9f2b-6cbe14b0a50b","order":32,"text":"Each Party will keep confidential the existence and terms of this Letter, the fact that discussions are taking place concerning the Proposed Transaction, and all non-public information disclosed by the other Party in connection with the Proposed Transaction ("Confidential Information"), and will use such Confidential Information solely for the purpose of evaluating and pursuing the Proposed Transaction. Confidential Information may be disclosed only to a Party's professional advisors on a need-to-know basis, or as required by law or the rules of any applicable securities regulatory authority or stock exchange. This Section is one of the binding provisions of this Letter and is in addition to, and does not supersede, any separate confidentiality or non-disclosure agreement between the Parties.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"20fcb574-a36f-419f-a681-6a4afca1cdbc","order":33,"text":"7. CONDITIONS","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S07"},{"id":"0fdbfb9f-babc-4bfd-a87e-e2f81da78500","order":34,"text":"The completion of the Proposed Transaction is subject to a number of conditions, including, without limitation: (i) the negotiation and execution of the Definitive Agreement; (ii) the satisfactory completion of the Offeror's review and investigation of the subject matter of the Proposed Transaction; (iii) the receipt of all required corporate, regulatory, third-party and governmental approvals and consents; (iv) the absence of any material adverse change affecting the subject matter of the Proposed Transaction; and (v) the approval of the boards of directors and, where required, the shareholders of each Party.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"5b6135f7-4613-49f2-989f-1e3cc14541d2","order":35,"text":"8. DEFINITIVE AGREEMENT","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S08"},{"id":"83da7f07-7598-482d-bc92-d3c90b0f6e07","order":36,"text":"The Parties will negotiate in good faith with a view to settling and executing the Definitive Agreement on or before [Target signing date]. The Definitive Agreement will contain the terms set out in this Letter together with such representations, warranties, covenants, indemnities, conditions and other terms as are customary for a transaction of this nature and as are negotiated between the Parties, each acting reasonably.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"fd70abba-ec01-4010-bcd6-120f02884949","order":37,"text":"9. CONDUCT OF BUSINESS","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S09"},{"id":"48d26a66-ded1-4a98-a8cd-49232e65a1db","order":38,"text":"As a matter of good faith pending the negotiation of the Definitive Agreement, from the date of this Letter until the earlier of the execution of the Definitive Agreement and the termination of this Letter, the Recipient will carry on the business, undertaking or venture that is the subject of the Proposed Transaction in the ordinary and normal course consistent with past practice, will preserve its assets, goodwill and business relationships, and will use commercially reasonable efforts not to, without the prior written consent of the Offeror, enter into any material transaction or incur any material obligation outside the ordinary course of business.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"ce2eea8d-2271-4429-a1d9-70d7e3a279fe","order":39,"text":"10. EMPLOYEES","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S10"},{"id":"80240009-f73a-463e-91a3-9b0b1b00f5bf","order":40,"text":"The treatment of the employees engaged in the business, undertaking or venture that is the subject of the Proposed Transaction, including offers of continued employment and the assumption of accrued entitlements, will be addressed in the Definitive Agreement in compliance with applicable employment standards legislation of the relevant jurisdiction. Until closing, the Recipient will not, without the Offeror's consent, materially alter the compensation, terms of employment or staffing of that business or venture outside the ordinary course.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"4efc5207-f9cc-4232-9e79-b6009953a5ae","order":41,"text":"11. EXPENSES","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S11"},{"id":"c5d1e4f3-f604-4f7a-beb9-9167c8614cf0","order":42,"text":"Except as otherwise expressly agreed in writing, each Party will bear its own costs and expenses (including the fees and disbursements of its legal, accounting, tax and other advisors) incurred in connection with the Proposed Transaction, whether or not the Proposed Transaction is completed. This Section is one of the binding provisions of this Letter.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"a84fcce6-361e-4ec8-ac9b-6f9e6cdba572","order":43,"text":"12. TAXES","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S12"},{"id":"fba7f38b-ae64-4ebf-967d-38bd0d098065","order":44,"text":"All amounts referred to in this Letter are expressed in Canadian dollars. The Definitive Agreement will address the responsibility for, and treatment of, all applicable taxes arising in connection with the Proposed Transaction.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"14f9a861-9004-4cf8-aef2-fd89cff9711a","order":45,"text":"As the Proposed Transaction is structured as an asset purchase, the Parties intend, where eligible, to jointly elect under section 167 of the Excise Tax Act (Canada) so that no goods and services tax / harmonized sales tax (GST/HST) is payable on the sale of the Purchased Assets, and to cooperate in respect of any applicable provincial sales tax, land transfer tax and retail sales tax. The Purchase Price is exclusive of all applicable GST/HST and other transfer or value-added taxes, which, if payable, will be paid by the Offeror in addition to the Purchase Price.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"506b21e2-d3e6-4691-aa81-ec3d17bd2cf9","value":"Asset Purchase","type":"add","operator":"="}]},{"id":"ccd8fd76-03f8-4879-8977-dab999ba5356","order":46,"text":"As the Proposed Transaction is structured as a share purchase, the sale of the Purchased Shares is generally exempt from GST/HST. If the Recipient is a non-resident of Canada for purposes of the Income Tax Act (Canada), the Parties will address compliance with section 116 of that Act, including the delivery of a clearance certificate and any required withholding from the Purchase Price.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"506b21e2-d3e6-4691-aa81-ec3d17bd2cf9","value":"Share Purchase","type":"add","operator":"="}]},{"id":"e525018f-4fa0-4b5b-85b4-dbe8c4c6f3c1","order":47,"text":"As the Proposed Transaction involves the formation of a partnership or joint venture, the Parties will determine in the Definitive Agreement the tax classification of the Venture and the treatment of GST/HST registration, input tax credits and the allocation of income, losses and tax attributes among the Parties.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"506b21e2-d3e6-4691-aa81-ec3d17bd2cf9","value":"Business Partnership","type":"add","operator":"="}]},{"id":"89265ace-e970-4b7a-a76f-cde8839aea4a","order":48,"text":"13. BROKERS AND FINDERS","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S13"},{"id":"900d7ea0-2d0e-4ce2-823d-cc5e8e10267d","order":49,"text":"Each Party represents to the other that it has not engaged any broker, agent or finder, or incurred any liability for brokerage fees, agents' commissions or finders' fees, in connection with the Proposed Transaction, except as disclosed in writing to the other Party. Each Party will indemnify and hold the other harmless from any claim for any such fee or commission arising from arrangements made by, or on behalf of, the indemnifying Party. This Section is one of the binding provisions of this Letter.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"2f28ccd9-2415-46c1-8e2b-2f9f2e7d41c7","order":50,"text":"14. PUBLIC ANNOUNCEMENTS","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S14"},{"id":"5e1982b7-054c-4a33-a7c4-69a5737ccf58","order":51,"text":"No Party will issue any press release or make any public statement or disclosure concerning this Letter or the Proposed Transaction without the prior written consent of the other Party (such consent not to be unreasonably withheld), except as required by applicable law or the rules of any securities regulatory authority or stock exchange, in which case the disclosing Party will, to the extent practicable, consult with the other Party as to the form and content of the disclosure. This Section is one of the binding provisions of this Letter.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"b9aaf7d9-d32f-4c1f-9034-55c1444a2b85","order":52,"text":"15. AUTHORITY AND CAPACITY","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S15"},{"id":"3f59b001-168b-4856-a83e-ddd20452fce0","order":53,"text":"Each Party represents to the other that it has the full power, capacity and authority to enter into this Letter and to perform its obligations under the provisions expressed to be binding, that the execution and delivery of this Letter have been duly authorized by all necessary corporate or other action, and that this Letter has been duly executed and delivered by it. The individual signing on behalf of a Party that is a corporation or other entity represents that he or she is duly authorized to bind that Party.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"6ee275e4-8025-4a01-b415-3166bb7928d2","order":54,"text":"16. RELATIONSHIP OF THE PARTIES","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S16"},{"id":"82fcb100-283a-4b99-a483-1385d75d8ba0","order":55,"text":"Nothing in this Letter creates, or will be deemed to create, a partnership, joint venture, agency, fiduciary or employment relationship between the Parties prior to the execution of the Definitive Agreement, and no Party has any authority to bind or commit the other in any manner whatsoever in connection with the Proposed Transaction except as expressly set out in this Letter.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"1be4426a-6c1a-4239-98ac-0a65cd9c0b14","order":56,"text":"17. BINDING EFFECT","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S17"},{"id":"96ebab3c-1d47-47f3-93aa-fc3c4633d07c","order":57,"text":"This Letter is intended to express the Parties' present mutual understanding and intentions only. Except for the Sections entitled "Exclusivity" (if applicable), "Confidentiality", "Expenses", "Taxes", "Brokers and Finders", "Public Announcements", "Authority and Capacity", "Relationship of the Parties", "Governing Law", "Dispute Resolution" and this Section, which are intended to be legally binding on the Parties, no provision of this Letter is intended to create, nor will be construed as creating, any legally binding or enforceable obligation on either Party, and no such obligation will arise unless and until the Definitive Agreement is executed and delivered by both Parties.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"415fbd0b-bd64-4496-b6ae-2592a70e899d","value":"binding","type":"remove","operator":"="}]},{"id":"98b4113c-c183-428b-a500-d351ee309479","order":58,"text":"This Letter is intended to be, and constitutes, a legally binding and enforceable agreement between the Parties in respect of the Proposed Transaction, subject only to the conditions expressly set out herein. The Parties intend to be bound by all of the terms of this Letter pending the negotiation and execution of the Definitive Agreement, which will supersede this Letter upon execution.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"415fbd0b-bd64-4496-b6ae-2592a70e899d","value":"nonbinding","type":"remove","operator":"="}]},{"id":"114a15e4-2d2f-4af4-b18e-ef5c48fc5854","order":59,"text":"18. TERMINATION","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S18"},{"id":"b69f951c-aa28-4933-a520-c3e57aed667d","order":60,"text":"This Letter may be terminated at any time prior to the execution of the Definitive Agreement: (i) by mutual written agreement of the Parties; (ii) by either Party on written notice if the Definitive Agreement has not been executed by the date set out in the Section entitled "Definitive Agreement"; or (iii) by either Party on written notice if the other Party is in material breach of any binding provision of this Letter. Termination of this Letter will not affect the rights or obligations of the Parties under the provisions expressed to be binding, which will survive termination.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"683f0325-6e4f-48c9-98c2-925dfe1b29c6","order":61,"text":"19. GOVERNING LAW","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S19"},{"id":"83b55913-b03a-4583-99e8-9b314bb038ed","order":62,"text":"This Letter, and any binding provisions hereof, will be governed by and construed in accordance with the laws of [Governing province/territory] and the federal laws of Canada applicable therein, without regard to conflict of laws principles. The Parties irrevocably attorn to the non-exclusive jurisdiction of the courts of that jurisdiction. This Section is one of the binding provisions of this Letter.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"42ce2b1e-90fa-4fae-b891-a6aebdb0cfcd","order":63,"text":"20. DISPUTE RESOLUTION","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S20"},{"id":"f9504663-767a-4959-a910-970b7f81678d","order":64,"text":"The Parties will attempt in good faith to resolve any dispute arising out of or in connection with the binding provisions of this Letter through negotiation between senior representatives of the Parties. Any dispute not so resolved within thirty (30) days will be referred to and finally resolved by arbitration administered in [City and province] in accordance with the applicable provincial arbitration legislation, before a single arbitrator, with the proceedings conducted in the English language. This Section is one of the binding provisions of this Letter.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"fb0d6956-10db-4abf-8082-feba9d82f818","order":65,"text":"21. NOTICES","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S21"},{"id":"dd851940-879d-4780-9bc4-ea0167f52041","order":66,"text":"Any notice or other communication under this Letter must be in writing and delivered personally, sent by email or sent by prepaid courier to the address of the recipient Party set out above (or such other address as a Party may designate by notice). A notice is deemed received on the day of personal delivery or email transmission (if a business day, failing which the next business day) or on the second business day after dispatch by courier.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"f4ab747b-32f0-45c7-b064-a1d7392e3fa6","order":67,"text":"22. GENERAL","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S22"},{"id":"584195f3-57ee-4294-9b1e-d2b47c079a35","order":68,"text":"This Letter constitutes the entire understanding of the Parties with respect to its subject matter and supersedes all prior discussions and communications. No amendment to this Letter is effective unless made in writing and signed by both Parties. If any provision of this Letter is held to be invalid or unenforceable, the remaining provisions will continue in full force and effect. The failure of a Party to enforce any provision is not a waiver of that or any other provision. Time is of the essence. All monetary amounts are in Canadian dollars. Neither Party may assign this Letter or any of its rights or obligations without the prior written consent of the other Party. This Letter enures to the benefit of and is binding upon the Parties and their respective heirs, executors, administrators, successors and permitted assigns. The provisions of this Letter that are expressed to be binding survive the termination or expiry of this Letter. This Letter may be executed in counterparts and delivered by electronic means, each of which is deemed an original and all of which together constitute one instrument.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"0c03e770-1989-4690-9720-8fbf3164c0ea","order":69,"text":"Each Party acknowledges that it has had the opportunity to obtain independent legal advice with respect to this Letter, has either obtained such advice or voluntarily declined to do so, and is signing this Letter freely and voluntarily.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"e67dcacf-346b-4d57-aae2-6f1ef8abaaa0","order":70,"text":"23. ACCEPTANCE AND EXPIRY","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S23"},{"id":"7cb5810c-6c11-4377-a8df-f9f45a794b87","order":71,"text":"If the foregoing accurately reflects your understanding of the terms upon which we propose to proceed, please confirm your acceptance by signing and returning a copy of this Letter on or before [Acceptance deadline], failing which this Letter will expire and be of no further force or effect. We look forward to working with you towards the completion of the Proposed Transaction.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"20","cflou":false,"active":true},{"id":"3c971b37-8b59-4210-8e45-a86bcddd5826","order":72,"text":"Yours truly,","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"20","cflou":false,"active":true,"marginTop":"20"},{"id":"f53ecfbb-eee9-4a87-a263-26672b361a8d","order":73,"text":"OFFEROR","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"dbc839bf-17cd-4e26-a3ea-48f968a717ff","order":74,"text":"_______________________________
[Your full name]","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"20","cflou":false,"active":true,"displayConditions":[{"field":"0d88f142-a475-44cd-b0ed-5252fc8da550","value":"CORP","type":"remove","operator":"="}]},{"id":"37194e5e-f843-4b09-a8c4-b2a4739ab6dc","order":75,"text":"[Your corporate name]
Per: _______________________________
[Authorized signatory], [Title]
I have authority to bind the corporation.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"20","cflou":false,"active":true,"displayConditions":[{"field":"0d88f142-a475-44cd-b0ed-5252fc8da550","value":"IND","type":"remove","operator":"="}]},{"id":"a29031b5-48f6-4880-a774-25eaa80ef487","order":76,"text":"ACCEPTED AND AGREED this _______ day of _______________, 20____.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20"},{"id":"273e1422-e238-4f03-854a-efc7e273b97a","order":77,"text":"RECIPIENT","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"10a833fb-ce02-46d6-92c5-0b2a06a5c192","order":78,"text":"_______________________________
[Recipient full name]","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"20","cflou":false,"active":true,"displayConditions":[{"field":"24cd7284-d0d3-4ce2-81da-38e7666798cd","value":"CORP","type":"remove","operator":"="}]},{"id":"0e5aa685-d021-408a-857c-830087a642a9","order":79,"text":"[Recipient corporate name]
Per: _______________________________
[Authorized signatory], [Title]
I have authority to bind the corporation.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"20","cflou":false,"active":true,"displayConditions":[{"field":"24cd7284-d0d3-4ce2-81da-38e7666798cd","value":"IND","type":"remove","operator":"="}]}]