Search - "Contribution of Property"

Further, you are of the view that income left in a trust as an amount payable does not constitute an additional contribution of property to the trust for purposes of the definition of "testamentary trust" in paragraph 108(1)(i) of the Act. ...

Contribution of Property to Spinco 139. DC will contribute all of its partnership interests in CanLP 5, CanLP 8 and CanGP 1, and all of its shares of Cansub 1, Cansub 4 and Cansub 5 to Spinco for consideration of Spinco Common Shares, having an aggregate FMV at that time equal to the aggregate FMV at that time of the property transferred by DC to Spinco (the DC Contribution). ... The purpose of the transactions described in Paragraphs 139 to 141 (“Contribution of Property to Spinco”) is to package the Canadian Spin Business into one holding company and is intended to simplify the TC corporate group. 227. ...

The trustee is instructed to invest the contribution in property in which a trustee in Ontario is permitted to invest and to pay the net income from such investment to the donor.  ...

(b) "Share" means a membership interest in LLC 3; (c) "Stockholder" means each person signing the LLC 3 Agreement and any person who subsequently obtains a Share in LLC 3, in each case in its capacity as a Stockholder of LLC 3; (d) "Capital" of Shares is the aggregate of all amounts paid to LLC 3 and the monetary value at the time of contribution of property contributed to LLC 3 (in each case including amounts paid or contributed prior to USco 3's conversion to LLC 3) in consideration for the issuance of Shares together with any amounts added thereto by the Board of Managers or the Stockholders in accordance with the provisions of the LLC 3 Agreement, less the aggregate of all amounts by which such capital has been reduced by the Stockholders or the Board of Managers in accordance with the LLC 3 Agreement. ... (b) "Share" means a limited liability company interest in LLC 2; (c) "Stockholder" means each person signing the LLC 2 Agreement and any person who subsequently obtains Shares in LLC 2, in each case in its capacity as a Stockholder of LLC 2; (d) "Capital" of Shares is the aggregate of all amounts paid to LLC 2 and the monetary value at the time of contribution of property contributed to LLC 2 (in each case including amounts paid or contributed prior to USco 2's conversion to LLC 2) in consideration for the issuance of Shares together with any amounts added thereto by the Board of Managers or the Stockholders in accordance with the provisions of the LLC 2 Agreement, less the aggregate of all amounts by which such capital has been reduced by the Stockholders or the Board of Managers in accordance with the LLC 2 Agreement. ...

(ii) "Share" means a limited liability company interest in the LLC; (iii) "Stockholder" means each person signing the LLC Agreement and any person who subsequently obtains Shares in the LLC, in each case in its capacity as a Stockholder of the LLC; (iv) "Capital" of Shares is the aggregate of all amounts paid to the LLC and the monetary value at the time of contribution of property contributed to the LLC (in each case including amounts paid or contributed prior to D Co's conversion to an LLC) in consideration for the issuance of Shares together with any amounts added thereto by the Board of Managers or the Stockholders in accordance with the provisions of the LLC Agreement, less the aggregate of all amounts by which such capital has been reduced by the Stockholders or the Board of Managers in accordance with the LLC Agreement. ...

XXXXXXXXXX has personal guarantees for this indebtedness from XXXXXXXXXX. 17.XXXXXXXXXX received a loan from XXXXXXXXXX in the principal amount of approximately $XXXXXXXXXX. 18.One of the shareholders of XXXXXXXXXX provided financing in the principal amount of $XXXXXXXXXX This financing was secured by a mortgage over the property of XXXXXXXXXX The mortgage has been postponed in favour of XXXXXXXXXX No payments have been made on this debt. 19.The shareholders of the company have as a group contributed approximately $XXXXXXXXXX in personal loans and the contribution of property XXXXXXXXXX No payments have been made on these loans. 20.XXXXXXXXXX suffered losses in each of its fiscal years XXXXXXXXXX as set out XXXXXXXXXX. 21.XXXXXXXXXX has been adversely affected by the recession in that it had been unable until XXXXXXXXXX. 22.In order to more effectively compete with XXXXXXXXXX made XXXXXXXXXX expenditures totalling $XXXXXXXXXX. 23.While XXXXXXXXXX considered essential for XXXXXXXXXX the cash used XXXXXXXXXX resulted in cash-flow difficulties for XXXXXXXXXX. 24. ...

All the rights, privileges and powers of USco #2, and all property, real, personal and mixed, and all debts due to USco #2, as well as all other things and causes of action belonging to USco #2, shall be vested in USco LLC and shall be the property of USco LLC as they were of USco #2, and title to any real property vested by deed or otherwise in USco #2 shall not revert by reason of such conversion; b) "Share" means an LLC interest in USco LLC; c) "Stockholder" means each person signing the Operating Agreement and any person who subsequently obtains Shares in USco LLC, in its capacity as a Stockholder of USco LLC; d) "Capital" of Shares is the aggregate of all amounts paid to USco LLC and the monetary value at the time of contribution of property contributed to USco LLC in consideration for the issuance of Shares together with any amounts added thereto by the Board of Managers or the Stockholders in accordance with the provisions of the Operating Agreement, less the aggregate of all amounts by which such capital has been reduced by the Stockholders or the Board of Managers in accordance with the Operating Agreement. ...

The Trust will not make any payment directly or indirectly to the Underwriters or to the Settlor to reimburse them for the $XXXXXXXXXX contribution. The property held in the Sub Trust will not revert to the Settlor nor will the Settlor have any control or influence over the affairs of the Sub Trust. 12. ...

ACo L.P. is a “Canadian partnership” for the purposes of the Act; “Agreement” means the trust agreement entered into by ACo on behalf of ACo L.P. and XXXXXXXXXX approved by the NEB on XXXXXXXXXX; “Beneficiary” or “Beneficiaries” is defined in the Agreement to mean the Person or Persons, including the Company, acting on its own capacity or acting on behalf of a partnership, having Reclamation Obligations in respect of the Site; “Company” means the person holding the regulatory authorization(s) for the time being to operate the Pipeline whether on its own behalf or on behalf of one or more Persons; “Contribution” means the initial contribution of Property made by ACo to settle the Fund and all subsequent contributions of Abandonment Charges or other amounts made to the Trust by the Company or by any other person or entity from time to time; “Deactivation” has the meaning set out in the definition of “deactivate” in the National Energy Board Onshore Pipeline Regulations (Canada); “Decommissioning” has the meaning set out in the definition of “decommission” in the National Energy Board Onshore Pipeline Regulations (Canada); “Fund” means (i) all Contributions made to the Trust from time to time, (ii) all interest, returns, gains, dividends, distributions or other proceeds of any investment of any such amounts and of any such proceeds from time to time, and (iii) all other amounts and Property held from time to time by the Trustee, of any nature or kind; “NEB” means the National Energy Board, established pursuant to the NEB Act, or any successor administrative body having authority to regulate the Company in respect of the operation and abandonment of the Pipeline; “NEB Act” means the National Energy Board Act (Canada), R.S.C. 1985, c N-7, as amended; “NEB Decision” means an applicable decision, order, direction or other determination of the NEB relating to Abandonment, Reclamation Obligations or the Trust; “Orphan Pipeline Fund” means a not-for-profit corporation that will be established pursuant to a statute of the Parliament of Canada and will maintain funds for the purpose of funding the reclamation of abandoned pipelines in Canada, consistent with the NEB’s Reasons for Decision MH-001-2013; “Person” includes a partnership; “Pipeline” means XXXXXXXXXX; “Property” means all tangible and intangible assets and rights of any nature or type and includes without limitation cash and securities within the meaning ascribed to that term for purposes of the Securities Act (XXXXXXXXXX); “Qualified Investments” means those investments that from time to time are qualified investments for a qualifying environmental trust and that are not encompassed within the definition of “prohibited investment” in subsection 211.6(1); and which as of XXXXXXXXXX include only those types of property described in paragraphs (a), (b), (c), (c.1), (d) and (f) of the definitions of “qualified investment” in section 204; and “Qualified Investment” means any one of them; “qualifying environmental trust” or “QET” has the meaning assigned to this term by subsection 211.6(1); “Reclamation Obligations” means (i) the duty to carry out the physical Abandonment, Decommissioning or Deactivation of the Pipeline, including costs incurred to satisfy any conditions imposed by the NEB in any order or direction approving the Decommissioning or Deactivation of the Pipeline or granting leave to Abandon the Pipeline; (ii) the duty to develop an Abandonment plan, and to prepare an application for leave to Abandon or for approval of the Deactivation or Decommissioning of the Pipeline; and (iii) the duty to carry out post-abandonment monitoring and remediation of the Site, where post-abandonment refers to the period of time after a Company has satisfied the conditions of an order or direction issued by the NEB granting leave to Abandon, and all costs incurred and consequent thereon; “Site” means the location or locations in Canada used for the operation of the Pipeline; “Statement of Investment Policies and Procedures” or “SIPP” means the Statement of Investment Policies and Procedures adopted by ACo, depicted by the SIPP for affiliates of XXXXXXXXXX including ACo; “Trust” means the discretionary trust settled under the Agreement for the purpose of reclamation in favour of the one or several Beneficiaries that have Reclamation Obligations with regard to the Site, and also of the Orphan Pipeline Fund, and which is called the “XXXXXXXXXX”. ...

Such money contribution is property as described in paragraph (a) of the definition of "qualified investments" in section 204 of the Act. 37. ...