[{"id":"74372dc9-823b-4770-b1f7-0ab58ae45edd","order":10,"text":"UNANIMOUS SHAREHOLDER AGREEMENT","fontSize":"20","textAlign":"center","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"8cc1890c-d9cb-43f1-8b93-c3f8ec4ff1c2","order":20,"text":"of","fontSize":"14","textAlign":"center","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"fe626d94-e1ce-4a56-b6a8-522b65a78772","order":30,"text":"[Name of the Corporation]","fontSize":"16","textAlign":"center","bold":true,"underline":false,"marginBottom":"20","cflou":false,"active":true},{"id":"aa740363-57ce-4534-84cf-8067216bee03","order":40,"text":"THIS UNANIMOUS SHAREHOLDER AGREEMENT is made and entered into as of [Effective date] (the \"Effective 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\"Party\").","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"14","cflou":false,"active":true},{"id":"266e24b7-93d0-44c1-bffd-36a5f05fdaf6","order":170,"text":"RECITALS","fontSize":"14","textAlign":"left","bold":true,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"66130c4b-c360-4f09-930e-e25f6e1dba9e","order":180,"text":"WHEREAS the Corporation is duly incorporated and validly subsisting under the laws of Ontario;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"1ea0dce6-822d-4043-933b-358f018a8a27","order":190,"text":"WHEREAS the Shareholders are the registered and beneficial owners 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},{"id":"2fd0bc48-170a-476a-a105-ad6dc2c0e03f","order":200,"text":"WHEREAS the Shareholders wish to provide for the management and governance of the Corporation, the ownership and transfer of its shares, the funding of its operations, and their respective rights and obligations as shareholders;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"c6f1dc87-c867-46e0-9700-52af59f90b43","order":210,"text":"AND WHEREAS the Shareholders intend that this Agreement constitute a unanimous shareholder agreement within the meaning of the Act, restricting in whole or in part the powers of the directors to manage or supervise the management of the business and affairs of the Corporation to the extent set out herein;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"52e6af85-3a27-4c60-a7d9-78cf59f104b2","order":220,"text":"NOW THEREFORE in consideration of the mutual covenants and agreements contained in this Agreement and 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":"14","cflou":false,"active":true},{"id":"19b0009e-d60e-45d9-a294-1e68556b9b04","order":230,"text":"1. 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indirectly Controls, is Controlled by, or is under common Control with, that Person.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"deffb43f-902a-4cc3-8451-b922653e444c","order":270,"text":"\"Agreement\" means this unanimous shareholder agreement together with all schedules attached hereto, as amended, restated or supplemented from time to time.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"86b9dd3e-1f2b-4036-876a-8da76f14d3f3","order":280,"text":"\"Board\" means the board of directors of the Corporation.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"f363c6ec-f47b-474c-924e-6697c87788a1","order":290,"text":"\"Business Day\" means any day other than a Saturday, a Sunday or a statutory holiday in the Province.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"8829bc70-57e3-4039-b9cc-55b138618a0e","order":300,"text":"\"Control\" means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise, and \"Controlled\" and \"Controlling\" have corresponding meanings.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"7aeb07af-8c0d-4cfa-9b95-3bbc9ff79dc1","order":310,"text":"\"Effective Date\" means the date first written above on which this Agreement comes into force.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"21567d50-7e48-43e9-916b-deb4abd88694","order":320,"text":"\"Encumbrance\" means any mortgage, charge, pledge, hypothec, security interest, lien, option, right of first refusal, adverse claim or other encumbrance of any kind, whether contractual, statutory or otherwise.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"87c45987-da13-49b0-abba-0c2321085c32","order":330,"text":"\"Fair Market Value\" means the value of the Shares determined in accordance with the Article entitled \"Valuation of Shares\".","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"cb89044a-083e-442f-8774-df06d0b4c7ca","order":340,"text":"\"Insolvency Event\" means, with respect to a Shareholder, its bankruptcy or insolvency, the making of a proposal or assignment for the benefit of its creditors, the appointment of a receiver, trustee, liquidator or similar official over it or any material part of its property, or the institution of any proceeding seeking its winding-up, dissolution or reorganization on account of insolvency.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"bf8e28e4-688d-470a-a79d-7518347c5768","order":350,"text":"\"Permitted Transferee\" has the meaning given to it in the Article entitled \"Permitted Transfers\".","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"34c63e69-569f-4d4a-84fc-67dba6416731","order":360,"text":"\"Person\" means any individual, corporation, partnership, trust, joint venture, unincorporated association, government or governmental authority, or other entity of any kind.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"9c12d87e-6bd5-4adc-a134-57bd248f035f","order":370,"text":"\"Province\" means [Governing province], the laws of which govern this 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meanings.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"ac07ed83-0c61-440b-a25b-47bb24e73f04","order":400,"text":"In this Agreement: words importing the singular include the plural and vice versa, and words importing gender include all genders; the headings are for convenience of reference only and do not affect the construction or interpretation of this Agreement; any reference to a statute includes all regulations made thereunder and any amendment or re-enactment thereof; any reference to an Article or Schedule is to an Article of, or Schedule to, this Agreement; and all monetary amounts are expressed in Canadian dollars unless otherwise stated.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"ceac3357-2d03-466c-a727-7c637d2bcf24","order":410,"text":"2. Purpose and Effect of Agreement","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S02"},{"id":"9bfc4656-631d-4424-89c4-db33962be748","order":420,"text":"This Agreement is intended to be, and shall be construed as, a unanimous shareholder agreement under the Act. To the extent that this Agreement restricts the powers of the directors to manage or supervise the management of the business and affairs of the Corporation, the Shareholders assume all rights, powers, duties and liabilities of the directors to that extent, whether arising under the Act or otherwise, and the directors are relieved of those duties and liabilities to the same extent.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"42f5b7ff-9520-4671-8f55-d4603fbcb9b3","order":430,"text":"The Shareholders shall cause the Corporation to carry on and conduct its business and affairs in a proper and efficient manner and in accordance with sound business practice and the provisions of this Agreement, and shall exercise their voting rights and otherwise act so as to give full effect to this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"19c0a5c4-1a17-46e5-88ff-dbe336b3e153","order":440,"text":"In the event of any conflict or inconsistency between the provisions of this Agreement and the articles or by-laws of the Corporation, the provisions of this Agreement shall govern as among the Shareholders, and the Shareholders shall cause the articles or by-laws to be amended to resolve such conflict in favour of this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"2275703c-fc07-4717-8ae5-454b7ae9131f","order":450,"text":"A copy of this Agreement shall be kept at the registered office of the Corporation, and a notice of its existence shall be conspicuously stated on every certificate evidencing Shares issued by the Corporation, in accordance with the Act.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"327d99eb-8c2b-49ac-8931-bdf153de9bae","order":460,"text":"3. Share Capital and Shareholdings","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S03"},{"id":"01caed49-17c3-4521-a139-4e04eb766f06","order":470,"text":"The Shareholders acknowledge and agree that, as of the Effective Date, the issued and outstanding Shares are held as set out in this Article, and that such Shares represent 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},{"id":"65b3e305-2c54-4623-8e84-63d9ad5ca8f1","order":480,"text":"[Shareholder 1 full name] holds [Number of shares held by Shareholder 1] [Class of shares] shares, representing [Percentage held]% of the issued and outstanding Shares.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"61664ee9-19e7-4866-9a7e-d56952d0d25c","value":"individual","type":"add","operator":"="}]},{"id":"dae6e3be-5ee6-4e7a-971b-dba65b2aff38","order":490,"text":"[Shareholder 1 corporation name] holds [Number of shares held by Shareholder 1] [Class of shares] shares, representing [Percentage held]% of the issued and outstanding Shares.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"61664ee9-19e7-4866-9a7e-d56952d0d25c","value":"corporate","type":"add","operator":"="}]},{"id":"c0f824d6-e1d7-499e-a445-9c374b754c74","order":500,"text":"[Shareholder 2 full name] holds [Number of shares held by Shareholder 2] [Class of shares] shares, representing [Percentage held]% of the issued and outstanding Shares.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"f44f72ef-1e19-4ddb-896a-00057ca36cbb","value":"individual","type":"add","operator":"="}]},{"id":"f740b877-388c-49ea-a3d8-2abfb63e06bd","order":510,"text":"[Shareholder 2 corporation name] holds [Number of shares held by Shareholder 2] [Class of shares] shares, representing [Percentage held]% of the issued and outstanding Shares.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"f44f72ef-1e19-4ddb-896a-00057ca36cbb","value":"corporate","type":"add","operator":"="}]},{"id":"3753e776-9c1c-41bf-92bc-af0bb6b8d556","order":520,"text":"[Shareholder 3 full name] holds [Number of shares held by Shareholder 3] [Class of shares] shares, representing [Percentage held]% of the issued and outstanding Shares.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"b4251cb8-492e-4b6a-8908-5322f1c7617d","value":"individual","type":"add","operator":"="},{"field":"278299cd-f42f-42c6-aa9e-da2fe40c25b8","value":"2","type":"remove","operator":"="}]},{"id":"d9901e7f-7786-45bd-bf0f-3c43fac0c2a0","order":530,"text":"[Shareholder 3 corporation name] holds [Number of shares held by Shareholder 3] [Class of shares] shares, representing [Percentage held]% of the issued and outstanding Shares.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"b4251cb8-492e-4b6a-8908-5322f1c7617d","value":"corporate","type":"add","operator":"="},{"field":"278299cd-f42f-42c6-aa9e-da2fe40c25b8","value":"2","type":"remove","operator":"="}]},{"id":"580230c8-690d-42cf-bdd9-12c06f302b60","order":540,"text":"[Shareholder 4 full name] holds [Number of shares held by Shareholder 4] [Class of shares] shares, representing [Percentage held]% of the issued and outstanding Shares.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"d55a10f3-0cd1-4e79-a66b-043a7aefb71b","value":"individual","type":"add","operator":"="},{"field":"278299cd-f42f-42c6-aa9e-da2fe40c25b8","value":"2","type":"remove","operator":"="},{"field":"278299cd-f42f-42c6-aa9e-da2fe40c25b8","value":"3","type":"remove","operator":"="}]},{"id":"c4bf99c8-8e21-4ac4-abb4-3e4eb2c9c59d","order":550,"text":"[Shareholder 4 corporation name] holds [Number of shares held by Shareholder 4] [Class of shares] shares, representing [Percentage held]% of the issued and outstanding Shares.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"d55a10f3-0cd1-4e79-a66b-043a7aefb71b","value":"corporate","type":"add","operator":"="},{"field":"278299cd-f42f-42c6-aa9e-da2fe40c25b8","value":"2","type":"remove","operator":"="},{"field":"278299cd-f42f-42c6-aa9e-da2fe40c25b8","value":"3","type":"remove","operator":"="}]},{"id":"de59b1bd-e470-4f17-9bb6-f266b57b368f","order":560,"text":"The Shareholders shall not permit the Corporation to issue any further Shares except in compliance with this Agreement, and any Shares hereafter acquired by a Shareholder shall be subject to and governed by this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"152b52cd-74a2-43e4-a202-0c407290bd51","order":570,"text":"4. Representations, Warranties and Covenants of the Shareholders","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S04"},{"id":"6a74e926-9416-41b7-be8c-bbd0e84cad64","order":580,"text":"Each Shareholder represents and warrants to each other Shareholder and to the Corporation, as of the Effective Date and as of the date of any Transfer of Shares to which it is a party, that:","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"8142acc5-68be-4e45-b573-a6d9bcf54867","order":590,"text":"— it is the registered and beneficial owner of the Shares set out opposite its name, free and clear of all Encumbrances, with good and marketable title thereto;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"cbfc1063-4610-4b9b-b0fb-cfa721fc9383","order":600,"text":"— it has full power, capacity and authority to enter into, and to perform its obligations under, this Agreement, and where it is a corporation or trust, the execution and performance of this Agreement have been duly authorized;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"7bfd7c1e-2160-4c90-8081-f854961be655","order":610,"text":"— this Agreement constitutes a legal, valid and binding obligation enforceable against it in accordance with its terms;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"9b069f79-e524-48bf-9154-3f360e6e9020","order":620,"text":"— the execution and performance of this Agreement do not and will not conflict with or result in a breach of any agreement, instrument, judgment or applicable law to which it is a party or by which it is bound; and","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"c94cfae4-ee23-495f-a12d-b9778de25558","order":630,"text":"— there is no action, suit or proceeding pending or, to its knowledge, threatened against it that would impair its ability to perform this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"8c91e030-4365-4bc0-a635-b9b2e3024956","order":640,"text":"Each Shareholder covenants that, for so long as it remains a Shareholder, it shall act in good faith towards the other Shareholders and the Corporation in all matters relating to this Agreement, shall not do anything to defeat or impair the rights of the other Shareholders hereunder, and shall execute and deliver such further documents and do such further acts as may reasonably be required to give effect to this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"68bac7c8-83b8-40a0-9cc3-0936fd56bd67","order":650,"text":"5. Management of the Corporation","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S05"},{"id":"4e7fee52-c7ed-45d5-9e33-4811f9ecdb63","order":660,"text":"The business and affairs of the Corporation shall be managed by or under the supervision of a board of directors consisting of [Number of directors] director(s). Each Shareholder shall be entitled to nominate directors in proportion to its shareholdings, and the Shareholders shall vote their Shares so as to elect the nominees of each Shareholder to the Board and to remove and replace any director so nominated only at the request of the Shareholder who nominated that director.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"92646905-2995-42e3-81d0-04ce2418a9bc","value":"board","type":"add","operator":"="}]},{"id":"0c781a9c-23fb-41f3-b378-994beef8f02c","order":670,"text":"Meetings of the Board shall be held at least [Meeting frequency]. A quorum for the transaction of business at any meeting of the Board shall consist of a majority of the directors then in office. Questions arising at any meeting of the Board shall be decided by a majority of the votes cast, and the chair of the meeting shall not have a second or casting vote.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"92646905-2995-42e3-81d0-04ce2418a9bc","value":"board","type":"add","operator":"="}]},{"id":"ed9983a7-4c1d-4baa-84a8-0435f74026e7","order":680,"text":"The Shareholders have agreed, pursuant to this Agreement as a unanimous shareholder agreement, that there shall be no board of directors and that the business and affairs of the Corporation shall be managed directly by the Shareholders. All decisions concerning the management of the Corporation shall be made by the Shareholders acting by the majority specified in this Agreement, and the Shareholders assume all of the rights, powers, duties and liabilities of directors under the Act.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"92646905-2995-42e3-81d0-04ce2418a9bc","value":"shareholders","type":"add","operator":"="}]},{"id":"b80f0c20-1648-4657-a197-57566ff8b522","order":690,"text":"The officers of the Corporation shall be appointed by, and shall hold office at the pleasure of, the Shareholders (or the Board, where one exists). Each officer shall have the duties and authority customarily associated with the office held, subject to the restrictions set out in this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"5f7370b0-be6d-43b2-916f-47014ba83612","order":700,"text":"The Shareholders shall determine the financial institutions with which the Corporation maintains accounts and the persons authorized to sign cheques, bills of exchange and other banking instruments on behalf of the Corporation, and shall require dual signing authority for any payment exceeding [Single-signature limit].","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"5af1195f-6165-47cc-b315-ea524c3a965c","order":710,"text":"The fiscal year of the Corporation shall end on [Fiscal year end] of each year. The Corporation shall maintain proper books and records of account, shall prepare annual financial statements in accordance with applicable accounting standards consistently applied, and shall make such financial statements and supporting records available to each Shareholder upon reasonable request. The Shareholders shall appoint an accountant or auditor for the Corporation as they may agree.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"5d62afca-eecb-462e-bceb-0b2b9721d74a","order":720,"text":"6. Shareholder Decisions Requiring Special Approval","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S06"},{"id":"706482eb-d02f-4c92-be11-d80555e96c12","order":730,"text":"Notwithstanding any other provision of this Agreement, none of the following actions shall be taken by or on behalf of the Corporation without the prior approval of Shareholders holding not less than [Approval threshold]% of the issued and outstanding Shares carrying the right to vote:","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"623c69c9-945c-4f00-b661-1eacd42c9c3f","order":740,"text":"— any amendment to the articles or by-laws of the Corporation, or to this Agreement;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"0d38d5ad-d619-4579-ab02-120cb189efc5","order":750,"text":"— the issuance, redemption, repurchase or cancellation of any shares or other securities of the Corporation;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"e9436ca4-70c2-4a72-9ec0-1960cef74b49","order":760,"text":"— any sale, lease or other disposition of all or substantially all of the assets or undertaking of the Corporation;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"c9fe3faf-3df3-403e-ac76-3e82ffe2964c","order":770,"text":"— any amalgamation, merger, arrangement, reorganization, continuance, winding-up, dissolution or liquidation of the Corporation;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"3c000863-f8a7-4880-b22c-0d82071805e5","order":780,"text":"— the incurring of any indebtedness, or the giving of any guarantee or security, in excess of [Borrowing limit] in the aggregate;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"2751c6d4-0a95-4eca-91ce-ea34676f5a9a","order":790,"text":"— the approval of, or any material amendment to, the annual operating and capital budget of the Corporation;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"493ff886-3449-4199-ae00-ddf0d30b872e","order":800,"text":"— the commencement, settlement or compromise of any litigation involving an amount in excess of the borrowing limit set out above;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"a919567d-23e8-4542-83d4-7bec984ec513","order":810,"text":"— the declaration or payment of any dividend or other distribution, except as expressly provided in this Agreement;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"16f50eac-1d80-4327-828e-a90d565b86d4","order":820,"text":"— the entering into of any transaction with a Shareholder, an Affiliate of a Shareholder or any other related party otherwise than on arm's length terms;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"7f6de22b-58ca-4960-be53-287db9266819","order":830,"text":"— the hiring, dismissal or material change in the compensation of any senior officer of the Corporation; and","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"8d8c4445-1a38-4cd4-ae2c-81d12a63dbc7","order":840,"text":"— any material change in the nature of the business carried on by the Corporation.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"e67944ac-840a-4499-9640-7b26cd86853a","order":850,"text":"7. Deadlock Resolution","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","displayConditions":[{"field":"62a461ab-7b34-4517-8570-179ae36042fb","value":"yes","type":"add","operator":"="}],"sectionNum":"S07"},{"id":"b8d59a7d-77c7-4be9-b3c1-9a1ef779dae6","order":860,"text":"A \"Deadlock\" shall be deemed to exist if the Shareholders are unable to agree upon any matter requiring their approval under this Agreement, and such disagreement continues for a period of [Deadlock period (days)] days after written notice from one Shareholder to the others stating that a Deadlock exists.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"62a461ab-7b34-4517-8570-179ae36042fb","value":"yes","type":"add","operator":"="}]},{"id":"a5dcf414-0380-4d82-9964-3b7b854c2a91","order":870,"text":"Upon the occurrence of a Deadlock, the Shareholders shall first refer the matter to their respective principals (or, where applicable, their ultimate beneficial owners) who shall meet, in person or by electronic means, and negotiate in good faith to resolve the Deadlock for a further period of fifteen (15) Business Days.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"62a461ab-7b34-4517-8570-179ae36042fb","value":"yes","type":"add","operator":"="}]},{"id":"8f393c08-7bee-4e63-b529-675ae55a506e","order":880,"text":"If the Deadlock is not resolved by such negotiation, it shall be referred to mediation and, failing resolution, to arbitration in accordance with the Article entitled \"Dispute Resolution\". Pending resolution of a Deadlock, the Corporation shall continue to be operated in the ordinary course consistent with past practice, and no extraordinary action shall be taken.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"62a461ab-7b34-4517-8570-179ae36042fb","value":"yes","type":"add","operator":"="}]},{"id":"2ce00d92-5554-4cf7-8abc-3b4d75227fa0","order":890,"text":"8. Financing of the Corporation","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S08"},{"id":"84b69497-b1bf-434a-b809-1d3ae0e61880","order":900,"text":"The Shareholders shall use commercially reasonable efforts to arrange for the financing required by the Corporation from time to time, first by way of borrowing from financial institutions on the most favourable terms reasonably available, without recourse to the Shareholders where possible.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"cbcd888d-246e-4abf-958f-763a2d8987d5","order":910,"text":"If the Corporation requires additional funds that cannot reasonably be obtained from third party lenders, the Shareholders may, but shall not be obligated to, advance such funds to the Corporation by way of shareholder loans in proportion to their respective shareholdings. Any such shareholder loans shall bear interest at the rate of [Interest rate]% per annum and shall be repayable on such terms as the Shareholders may agree, and shall rank in priority to the payment of any dividend.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"1ecd42b4-60a5-4f70-84e0-b13791fd8cdc","order":920,"text":"If a Shareholder fails to advance its proportionate share of any agreed shareholder loan within fifteen (15) Business Days of being requested to do so, the other Shareholders may advance the shortfall, and any amount so advanced shall bear interest at the rate set out above plus an additional two percent (2%) per annum until repaid.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"3c20b093-308f-468d-88a2-4689139f9cb0","order":930,"text":"No Shareholder shall be required to provide any personal guarantee in respect of the obligations of the Corporation unless all Shareholders agree to provide guarantees in proportion to their respective shareholdings, in which case each guaranteeing Shareholder shall be entitled to contribution from the others so that the ultimate liability is borne proportionately.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"c89e24d0-7e1b-4b42-aa3c-f497b12ec141","order":940,"text":"9. Dividends and Distributions","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S09"},{"id":"c9617d19-91cb-42aa-92c6-eb27fa1b993f","order":950,"text":"Subject to the Act and to the maintenance of adequate working capital and reserves for the proper conduct of the business of the Corporation, the Shareholders intend that the Corporation distribute its surplus profits to the Shareholders by way of dividends.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"980895d4-4021-4b2e-bc1f-2067a4876850","order":960,"text":"Dividends shall be declared and paid to the Shareholders in proportion to their respective shareholdings within each class of Shares, and no dividend shall be declared on one class of Shares unless the rights of the other classes are respected in accordance with the articles of the Corporation.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"5aacc43f-c05d-4e32-b052-3c4e3648b2e1","order":970,"text":"The Shareholders shall review the dividend policy of the Corporation at least annually, having regard to the financial position, capital requirements, contractual commitments and tax position of the Corporation and of the Shareholders.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"6c40abbc-54d4-4ab0-a510-316add9e186f","order":980,"text":"10. Restrictions on Transfer of Shares","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S10"},{"id":"d1f3f639-3c55-4894-8a39-75145a56b94f","order":990,"text":"No Shareholder shall Transfer any of its Shares except in accordance with the provisions of this Agreement. Any purported Transfer of Shares made otherwise than in compliance with this Agreement shall be null and void and shall not be recorded in the securities register of the Corporation.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"0ab077ba-573e-4939-adbb-27e94c861912","order":1000,"text":"As a condition to any Transfer of Shares permitted under this Agreement, the transferee (unless already a party hereto) shall execute and deliver to the Corporation and to each other Shareholder a written agreement, in form and substance satisfactory to the other Shareholders, agreeing to be bound by this Agreement as a Shareholder.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"1b4516e9-70e1-4192-9473-8ca3c5916b22","order":1010,"text":"No Shareholder shall pledge, hypothecate, charge or otherwise Encumber any of its Shares without the prior written consent of the other Shareholders.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"1fc3836d-71f5-49f8-9bba-3a37f719fe1a","order":1020,"text":"11. Right of First Refusal","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","displayConditions":[{"field":"7af60385-954b-429b-b01b-f72c1c3462bc","value":"yes","type":"add","operator":"="}],"sectionNum":"S11"},{"id":"96faa647-d7df-4e7a-96a9-2a41318cccc6","order":1030,"text":"If a Shareholder (the \"Offeror\") wishes to Transfer all or any of its Shares (the \"Offered Shares\") to a bona fide arm's length third party, the Offeror shall first offer the Offered Shares to the other Shareholders (the \"Offerees\") by written notice (the \"Offer Notice\") setting out the number of Offered Shares, the price per Share, the identity of the proposed transferee and all other material terms of the proposed Transfer.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"7af60385-954b-429b-b01b-f72c1c3462bc","value":"yes","type":"add","operator":"="}]},{"id":"683b6726-91c1-4fee-adaa-778b4b8d3bab","order":1040,"text":"Each Offeree shall have [Acceptance period (days)] days from receipt of the Offer Notice to elect, by written notice to the Offeror, to purchase all or part of the Offered Shares at the price and on the terms set out in the Offer Notice. If the Offerees elect in the aggregate to purchase more Offered Shares than are available, the Offered Shares shall be allocated among them in proportion to their respective shareholdings.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"7af60385-954b-429b-b01b-f72c1c3462bc","value":"yes","type":"add","operator":"="}]},{"id":"95158e68-f719-466d-a05e-133bb48713f9","order":1050,"text":"If the Offerees do not elect to purchase all of the Offered Shares within the said period, the Offeror may, within [Third-party closing window (days)] days thereafter, Transfer the Offered Shares not so purchased to the third party identified in the Offer Notice at a price not less than, and on terms not more favourable to the third party than, those set out in the Offer Notice, failing which the Offered Shares shall again become subject to this Article.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"7af60385-954b-429b-b01b-f72c1c3462bc","value":"yes","type":"add","operator":"="}]},{"id":"c5a3013b-bc80-4a6c-9417-c77038647d77","order":1060,"text":"12. Permitted Transfers","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S12"},{"id":"d1b8de0b-511a-4c74-9b5a-a7ab89020fc0","order":1070,"text":"Notwithstanding the restrictions on Transfer set out in this Agreement, a Shareholder may Transfer all or any of its Shares to an Affiliate of that Shareholder, to a corporation wholly owned and Controlled by that Shareholder, or to a trust of which the Shareholder or members of the Shareholder's immediate family are the sole beneficiaries (a \"Permitted Transferee\"), provided that:","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"357ac1ea-ad47-4a90-9746-d2c4edfee2ed","order":1080,"text":"— the Permitted Transferee first executes and delivers an agreement to be bound by this Agreement;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"5ff40043-8fcb-4b66-a5bb-a6804b82741d","order":1090,"text":"— the transferring Shareholder remains jointly and severally liable with the Permitted Transferee for all obligations under this Agreement; and","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"e16e1f59-f3a7-4e57-8413-62b0bee623eb","order":1100,"text":"— if at any time the Permitted Transferee ceases to qualify as such, the Shares shall forthwith be Transferred back to the original Shareholder or to another Permitted Transferee of that Shareholder.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"c626bf65-701e-4e43-9925-41126dca989d","order":1110,"text":"13. Tag-Along Rights","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","displayConditions":[{"field":"f8841f3b-3154-4521-9045-426b5d6af972","value":"yes","type":"add","operator":"="}],"sectionNum":"S13"},{"id":"cea793c2-2dc0-4465-b73c-64419acad4d6","order":1120,"text":"If one or more Shareholders (the \"Selling Shareholders\") propose to Transfer to an arm's length third party Shares representing more than [Tag-along trigger (%)]% of the issued and outstanding Shares, the remaining Shareholders shall have the right, but not the obligation, to participate in the proposed Transfer on the same terms and conditions, by Transferring to the third party a proportionate number of their own Shares.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"f8841f3b-3154-4521-9045-426b5d6af972","value":"yes","type":"add","operator":"="}]},{"id":"18afc7b8-cb12-4f65-8e0d-7d4d29c07790","order":1130,"text":"The Selling Shareholders shall give written notice of the proposed Transfer to the remaining Shareholders, and each remaining Shareholder may exercise its tag-along right by written notice given within [Tag-along election period (days)] days of receipt of such notice. The Selling Shareholders shall not complete the Transfer unless the third party simultaneously purchases the Shares of each remaining Shareholder who has validly exercised its tag-along right.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"f8841f3b-3154-4521-9045-426b5d6af972","value":"yes","type":"add","operator":"="}]},{"id":"2953755f-8eb2-4897-b004-1506513d2f8b","order":1140,"text":"14. Drag-Along Rights","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","displayConditions":[{"field":"5bc48adc-b50d-49ab-a155-fb26bddee7ff","value":"yes","type":"add","operator":"="}],"sectionNum":"S14"},{"id":"444ace68-1f4b-4290-a0be-688fca180766","order":1150,"text":"If Shareholders holding not less than [Drag-along threshold (%)]% of the issued and outstanding Shares (the \"Dragging Shareholders\") wish to accept a bona fide arm's length offer for the purchase of all of the issued and outstanding Shares, the Dragging Shareholders may require all other Shareholders (the \"Dragged Shareholders\") to Transfer all of their Shares to the offeror on the same terms and conditions as those applicable to the Dragging Shareholders.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"5bc48adc-b50d-49ab-a155-fb26bddee7ff","value":"yes","type":"add","operator":"="}]},{"id":"61363f49-ce0e-4da0-b5a3-7889c98e3929","order":1160,"text":"The Dragging Shareholders shall give written notice to the Dragged Shareholders, and the Dragged Shareholders shall be obligated to Transfer their Shares and to execute all documents reasonably required to give effect to the sale, provided that the Dragged Shareholders shall not be required to give representations or warranties other than as to title to their own Shares and their own authority. The consideration shall be allocated among all Shareholders in accordance with their respective entitlements, having regard to the rights and preferences attaching to each class of Shares.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"5bc48adc-b50d-49ab-a155-fb26bddee7ff","value":"yes","type":"add","operator":"="}]},{"id":"dc3d1f05-aa78-4b66-8b4a-bbfb9a9c144f","order":1170,"text":"15. Compulsory Transfer Events","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S15"},{"id":"a8f243ed-65e8-4ebb-8ce5-6023db5a09f3","order":1180,"text":"Upon the occurrence of any of the following events with respect to a Shareholder (the \"Affected Shareholder\"), the Affected Shareholder (or its legal representative) shall be deemed to have offered to sell all of its Shares to the other Shareholders, who shall have the right to purchase such Shares at the Fair Market Value determined in accordance with the Article entitled \"Valuation of Shares\":","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"d528b01c-b402-42ec-a656-add7932dbdaf","order":1190,"text":"— the death of an individual Shareholder;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"717fe218-abd1-4dd2-97f0-9a355a41577f","order":1200,"text":"— the permanent disability of an individual Shareholder rendering it unable to perform its duties for a continuous period of [Disability period (months)] months;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"5cc8c446-468e-411d-a142-a429d4414d14","order":1210,"text":"— the occurrence of an Insolvency Event in respect of a Shareholder;","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"7949dccd-cf55-41ce-b440-076759842947","order":1220,"text":"— a material default by a Shareholder under this Agreement that remains uncured for [Cure period (days)] days after written notice of such default; and","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"6","cflou":false,"active":true},{"id":"8eaaaeb6-44a0-4afa-a5bd-de07b3353967","order":1230,"text":"— any attempted Transfer of Shares in breach of this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"6be0907a-1abb-4a86-acce-7f8a9ec19bdc","order":1240,"text":"The other Shareholders shall have [Exercise period (days)] days from the date on which they become aware of the relevant event to elect, by written notice, to purchase the Shares of the Affected Shareholder. If more than one Shareholder so elects, the Shares shall be purchased in proportion to their respective shareholdings. Where the compulsory transfer arises from a material default or a breaching Transfer, the purchase price shall be [Default purchase price basis] of the Fair Market Value. The purchase price shall be paid in accordance with the payment terms set out in the Article entitled \"Valuation of Shares\".","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"f083c7dc-5390-4556-9c7e-897229c26f58","order":1250,"text":"16. Buy-Sell (Shotgun) Provisions","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","displayConditions":[{"field":"9840a1ef-99c1-4003-88bf-ccc1d9a7b2c1","value":"yes","type":"add","operator":"="}],"sectionNum":"S16"},{"id":"9d7092eb-bc1e-4ae0-a50e-5a01d2ba1a71","order":1260,"text":"At any time, any Shareholder (the \"Initiating Shareholder\") may give to any other Shareholder (the \"Receiving Shareholder\") a written notice (the \"Buy-Sell Notice\") offering to sell all of the Initiating Shareholder's Shares to the Receiving Shareholder, or to purchase all of the Receiving Shareholder's Shares, in each case at a specified price per Share and on the terms set out in the Buy-Sell Notice.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"9840a1ef-99c1-4003-88bf-ccc1d9a7b2c1","value":"yes","type":"add","operator":"="}]},{"id":"95f5d34e-cb11-485e-b1d7-5dee182835d2","order":1270,"text":"The Receiving Shareholder shall, within [Shotgun election period (days)] days of receipt of the Buy-Sell Notice, elect by written notice either to purchase the Initiating Shareholder's Shares, or to sell its own Shares to the Initiating Shareholder, in each case at the price and on the terms set out in the Buy-Sell Notice. If the Receiving Shareholder fails to make an election within such period, it shall be deemed to have elected to sell its Shares to the Initiating Shareholder.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"9840a1ef-99c1-4003-88bf-ccc1d9a7b2c1","value":"yes","type":"add","operator":"="}]},{"id":"273eb61e-b605-444e-83a6-230b08dbce4b","order":1280,"text":"Completion of the purchase and sale under this Article shall take place within [Shotgun closing period (days)] days after the election (or deemed election), in accordance with the Article entitled \"Completion of Share Transfers\", at which time the selling party shall Transfer its Shares free and clear of all Encumbrances against payment of the purchase price.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"9840a1ef-99c1-4003-88bf-ccc1d9a7b2c1","value":"yes","type":"add","operator":"="}]},{"id":"ead214d6-c59f-4dc4-aa73-7129c54ade34","order":1290,"text":"17. Valuation of Shares","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S17"},{"id":"675a17b1-e53c-4bb6-9ac3-2cf9ffe79fd9","order":1300,"text":"Whenever the Fair Market Value of Shares is to be determined under this Agreement, it shall be determined as follows.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"75ba0f45-11ad-4899-9fd4-6e8abc26aa52","order":1310,"text":"The Shareholders may agree in writing, at least annually, on the Fair Market Value of the Shares, which agreed value shall remain in effect until a new value is agreed or until twelve (12) months have elapsed, whichever occurs first.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"aac97ef5-d45f-4bdf-9a8e-c25a4f57edf5","order":1320,"text":"Failing such agreement, the Fair Market Value shall be determined by an independent business valuator who is a Chartered Business Valuator agreed upon by the relevant Shareholders or, failing agreement, appointed in accordance with the Article entitled \"Dispute Resolution\". The valuator shall determine the Fair Market Value of the Corporation as a going concern, without any discount for minority interest or lack of marketability, and the cost of the valuation shall be borne equally by the purchasing and selling Shareholders. The determination of the valuator shall be final and binding upon the Parties, absent manifest error.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"958bd179-9ca4-4c3e-9ae9-41d9c9687128","order":1330,"text":"The purchase price for any Shares acquired under this Agreement shall be paid [Payment terms]. Any unpaid balance shall bear interest at the rate of [Interest on balance (%)]% per annum and shall be secured by a pledge of the Shares being purchased until payment in full. Any indebtedness owing by the selling Shareholder to the Corporation may be set off against the purchase price.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"0c13fb92-0729-4037-842a-171588b1050a","order":1340,"text":"18. Completion of Share Transfers","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S18"},{"id":"43b2cceb-9b02-4e2e-8faf-70da24bd1fb5","order":1350,"text":"The completion of any purchase and sale of Shares under this Agreement shall take place at the registered office of the Corporation, or at such other place as the Parties may agree, on the date determined in accordance with the relevant Article (the \"Closing\").","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"c16d1164-2f00-43c1-8054-19d658e1556c","order":1360,"text":"At Closing, the selling Shareholder shall deliver to the purchaser the share certificates representing the Shares being sold, duly endorsed for transfer, together with all such resignations, releases, resolutions and other documents as the purchaser may reasonably require to vest good and marketable title to the Shares, free and clear of all Encumbrances.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"ad1ff145-11ab-4688-a6c7-e0b573b2701d","order":1370,"text":"At or before Closing, the purchasing Shareholders shall use commercially reasonable efforts to obtain the release of the selling Shareholder from all guarantees, indemnities and other personal obligations given by it in respect of the Corporation and, where such release cannot be obtained, shall jointly and severally indemnify and hold the selling Shareholder harmless from and against all liability arising under those obligations after Closing.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"7f1661c2-e3db-48ab-9392-bb4aee1f0399","order":1380,"text":"If a selling Shareholder fails to complete a sale of Shares required under this Agreement, the Corporation is irrevocably authorized and appointed as the agent and attorney of the selling Shareholder to execute and deliver all documents and to receive the purchase price on its behalf, and upon such receipt the purchase shall be deemed completed and the Corporation shall enter the purchaser in the securities register as the holder of the Shares.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"93c9efdd-99c4-45b1-b35d-ccffcb9ffa53","order":1390,"text":"19. Insurance","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","displayConditions":[{"field":"f8e28b55-a8fb-4e2f-bf2f-e392bae4cd6c","value":"yes","type":"add","operator":"="}],"sectionNum":"S19"},{"id":"6ab9db68-2eac-47d2-a328-162fd4509794","order":1400,"text":"In order to fund the purchase of Shares upon the death of an individual Shareholder, the Corporation (or the Shareholders, as they may agree) shall apply for and maintain life insurance on the life of each individual Shareholder in an amount not less than [Insurance coverage amount].","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"f8e28b55-a8fb-4e2f-bf2f-e392bae4cd6c","value":"yes","type":"add","operator":"="}]},{"id":"b6a72211-4dae-4424-aa0b-a1a7f42ffbcc","order":1410,"text":"The proceeds of any such insurance received on the death of a Shareholder shall be applied towards the purchase price of that Shareholder's Shares under the Article entitled \"Compulsory Transfer Events\". To the extent the proceeds exceed the purchase price, the excess shall belong to the Corporation or the policy owner, as applicable; to the extent the proceeds are insufficient, the balance shall be paid in accordance with the payment terms set out in the Article entitled \"Valuation of Shares\".","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"f8e28b55-a8fb-4e2f-bf2f-e392bae4cd6c","value":"yes","type":"add","operator":"="}]},{"id":"bed06e1a-9a32-4197-811f-e9f9774f4299","order":1420,"text":"Each Shareholder shall co-operate in the application for and maintenance of such insurance, including by submitting to medical examinations and providing such information as the insurer may reasonably require, and the Corporation shall maintain each policy in good standing and shall not permit any policy to lapse without the consent of the Shareholders.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"f8e28b55-a8fb-4e2f-bf2f-e392bae4cd6c","value":"yes","type":"add","operator":"="}]},{"id":"331e5e57-eb03-4335-9aba-8ab7189150bf","order":1430,"text":"20. Pre-Emptive Rights on New Issuances","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","displayConditions":[{"field":"a2c77345-8929-4189-985d-03486784aea3","value":"yes","type":"add","operator":"="}],"sectionNum":"S20"},{"id":"aa7d5090-fe66-4e09-b45b-c7c0b75e4ad8","order":1440,"text":"If the Corporation proposes to issue any new shares or other securities convertible into or exchangeable for shares, each Shareholder shall have the right to subscribe for and purchase a portion of such new securities sufficient to maintain its proportionate shareholding in the Corporation, on the same terms and at the same price as those offered to any other subscriber.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"a2c77345-8929-4189-985d-03486784aea3","value":"yes","type":"add","operator":"="}]},{"id":"cdb2542b-ac07-426b-a2b9-d66f03ea9fe8","order":1450,"text":"The Corporation shall give each Shareholder written notice of the proposed issuance, and each Shareholder shall have [Pre-emptive election period (days)] days from receipt of such notice to exercise its pre-emptive right by written notice. To the extent a Shareholder does not exercise its pre-emptive right in full, the unsubscribed securities may be offered first to the other Shareholders and then to third parties on terms no more favourable than those offered to the Shareholders.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"a2c77345-8929-4189-985d-03486784aea3","value":"yes","type":"add","operator":"="}]},{"id":"d94b4e34-06f3-41c9-b9b7-e187060c2847","order":1460,"text":"21. Tax Matters","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","displayConditions":[{"field":"affc71c8-ca28-4daa-87e9-b270056ece6e","value":"yes","type":"add","operator":"="}],"sectionNum":"S21"},{"id":"38518325-9eb0-4296-b980-0b994efd6870","order":1470,"text":"The Shareholders shall cause the Corporation to file all tax returns and make all elections required or permitted under applicable tax legislation in a manner consistent with this Agreement and with the reasonable interests of the Shareholders.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"affc71c8-ca28-4daa-87e9-b270056ece6e","value":"yes","type":"add","operator":"="}]},{"id":"28eef91e-5f3b-4ef5-9938-626e3771dbe6","order":1480,"text":"If any amount paid or payable under this Agreement is determined by a taxation authority to differ from the Fair Market Value of the Shares, the Parties agree that the price shall be adjusted to the amount finally determined to be the Fair Market Value, and each Party shall make such payment or repayment as is necessary to give effect to the adjustment (a price-adjustment clause for the purposes of the Income Tax Act (Canada)).","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"affc71c8-ca28-4daa-87e9-b270056ece6e","value":"yes","type":"add","operator":"="}]},{"id":"b9d28094-bad5-4a69-9456-8822b70d503c","order":1490,"text":"Where a Shareholder Transferring Shares is a non-resident of Canada for the purposes of the Income Tax Act (Canada), that Shareholder shall, prior to Closing, deliver to the purchaser a certificate issued under section 116 of that Act in respect of the Shares, failing which the purchaser shall be entitled to withhold and remit the amount required by that Act from the purchase price.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"affc71c8-ca28-4daa-87e9-b270056ece6e","value":"yes","type":"add","operator":"="}]},{"id":"a1111df7-7683-451a-9e77-9196b12afe78","order":1500,"text":"22. Confidentiality","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S22"},{"id":"2c59a401-c1d9-4beb-8e8d-bfec31fba5d6","order":1510,"text":"Each Shareholder shall keep confidential, and shall not use otherwise than for the benefit of the Corporation, all confidential information relating to the Corporation, its business, customers, suppliers, finances and affairs, except information that is or becomes publicly available other than through a breach of this Agreement, or that is required to be disclosed by law or by a court or regulatory authority of competent jurisdiction.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"d13f4425-f700-4929-9935-360dcfa53f82","order":1520,"text":"A Shareholder may disclose such confidential information to its Affiliates and to its professional advisers who need to know it for purposes connected with this Agreement or its interest in the Corporation, provided that the Shareholder procures that each such recipient keeps the information confidential on the same terms and remains responsible for any breach by that recipient.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"bd8aa48b-1216-4e37-8d38-83f3cd0a7b69","order":1530,"text":"The obligations of confidentiality set out in this Article shall survive the termination of this Agreement and shall continue to bind each Shareholder for so long as the relevant information remains confidential.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"ec9da867-2b49-4ec6-80cd-72c9ef8e8856","order":1540,"text":"23. Non-Competition and Non-Solicitation","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","displayConditions":[{"field":"940018d7-f4ad-4438-9b60-c483025acb2b","value":"yes","type":"add","operator":"="}],"sectionNum":"S23"},{"id":"5d946214-ca24-4690-bd08-4c96b7827bac","order":1550,"text":"Each Shareholder covenants and agrees that, for so long as it remains a Shareholder and for a period of [Restricted period (months)] months following the date on which it ceases to be a Shareholder, it shall not, directly or indirectly, carry on, be engaged in, or have any financial interest in any business that competes with the business of the Corporation within [Restricted territory].","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"940018d7-f4ad-4438-9b60-c483025acb2b","value":"yes","type":"add","operator":"="}]},{"id":"2ded2fb6-9d1c-4df1-9646-8a8b544a9c52","order":1560,"text":"During the same period, no Shareholder shall, directly or indirectly, solicit or attempt to solicit any customer, supplier, employee or contractor of the Corporation to terminate or alter its relationship with the Corporation.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true,"displayConditions":[{"field":"940018d7-f4ad-4438-9b60-c483025acb2b","value":"yes","type":"add","operator":"="}]},{"id":"b8478e8c-f145-4f26-a717-f30b540a96c0","order":1570,"text":"The Shareholders acknowledge that the restrictions in this Article are reasonable and necessary to protect the legitimate business interests and goodwill of the Corporation, that they have received the consideration provided under this Agreement in part in respect of these restrictions, and that they have had the opportunity to obtain independent legal advice in respect thereof. If any such restriction is held to be unenforceable, it shall be read down to the extent necessary to render it enforceable.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true,"displayConditions":[{"field":"940018d7-f4ad-4438-9b60-c483025acb2b","value":"yes","type":"add","operator":"="}]},{"id":"5647ea62-fc94-4dac-91df-b325384001b8","order":1580,"text":"24. Indemnification","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S24"},{"id":"ad1f4e34-877f-4cf4-9d09-a31f5bdddbc2","order":1590,"text":"Each Shareholder (an \"Indemnifying Shareholder\") shall indemnify and hold harmless each other Shareholder and the Corporation from and against any loss, liability, damage, cost or expense (including reasonable legal fees) suffered or incurred as a result of any breach by the Indemnifying Shareholder of any representation, warranty, covenant or obligation under this Agreement.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"a8ea859c-d9d8-4456-bd3d-454b4ddb6850","order":1600,"text":"The Corporation shall indemnify each Shareholder and, where applicable, each director and officer, to the fullest extent permitted by the Act, against all costs, charges and expenses reasonably incurred in respect of any civil, criminal or administrative action or proceeding to which they are made a party by reason of being or having been a Shareholder, director or officer, provided they acted honestly and in good faith with a view to the best interests of the Corporation.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"aa82b745-7bab-4a22-8701-7e5e63ca244c","order":1610,"text":"25. Dispute Resolution","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S25"},{"id":"ac115254-7c14-4846-a719-a305b6b22a84","order":1620,"text":"The Parties shall attempt in good faith to resolve any dispute arising out of or in connection with this Agreement by negotiation between senior representatives of the Parties.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"e190fde5-084a-4d4c-813b-b69088968140","order":1630,"text":"If the dispute is not resolved by negotiation within thirty (30) days, the Parties shall refer the dispute to mediation administered by a mediator agreed upon by the Parties. If mediation does not resolve the dispute within a further thirty (30) days, the dispute shall be finally resolved by arbitration before a single arbitrator in accordance with the arbitration legislation in force in the Province. The seat of arbitration shall be [Seat of arbitration (city)], and the arbitration shall be conducted in the English language. The decision of the arbitrator shall be final and binding upon the Parties, and judgment upon the award may be entered in any court of competent jurisdiction.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"c6dd1eb9-1e55-4fa0-ace5-330bae32ad5c","order":1640,"text":"Nothing in this Article shall prevent a Party from seeking urgent injunctive or other interim relief from a court of competent jurisdiction where necessary to protect its rights pending the resolution of a dispute.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"5ca0b576-cfcc-4e32-8267-7851a45d4d09","order":1650,"text":"26. Term and Termination","fontSize":"16","textAlign":"left","bold":true,"underline":false,"marginBottom":"10","cflou":false,"active":true,"marginTop":"20","sectionNum":"S26"},{"id":"85c163fd-2423-49b9-8b90-90216085fb54","order":1660,"text":"This Agreement shall come into force on the Effective Date and shall continue in force until the earliest of: the date on which all of the Shares are held by a single Shareholder; the date on which the Shareholders agree in writing to terminate it; and the date on which the Corporation is dissolved or wound up.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"d60bdc1f-22b5-42c4-bb15-3dcfda03113f","order":1670,"text":"A Shareholder who Transfers all of its Shares in accordance with this Agreement shall cease to be a party to this Agreement and shall be released from its obligations hereunder, except for obligations that expressly survive (including confidentiality, any applicable non-competition covenant, indemnification and any payment obligation accrued prior to the Transfer).","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"8","cflou":false,"active":true},{"id":"43bb2022-6eea-4027-90e7-3932dccb1e49","order":1680,"text":"The termination of this Agreement shall not affect any right or obligation that has accrued prior to termination, nor any provision that is expressed to survive termination.","fontSize":"14","textAlign":"left","bold":false,"underline":false,"marginBottom":"10","cflou":false,"active":true},{"id":"d552c75d-ce72-4b4b-9904-d72dc7e3632b","order":1690,"text":"27. 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