Search - consideration

In consideration for USco entering into the XXXXXXXXXX and agreeing to participate in the XXXXXXXXXX, Xco entered into a voting agreement in favor of USco and the J-Trust covering XXXXXXXXXX of the shares of Canco that it currently owns, namely XXXXXXXXXX, a copy of which was enclosed with the Ruling request. 9. Similarly, in consideration for Canco entering into the XXXXXXXXXX and agreeing to participate in the XXXXXXXXXX, Mr. ... Coincident therewith and as additional consideration, Xco and XSubco will become entitled to the Ancillary Rights. 20. ...

Generally speaking, where an amount is received or receivable by a taxpayer as consideration for the disposition of a property and no amount has been specified as being received or receivable for a RC, section 68 can apply to deem a portion of the consideration (as may be reasonable in the circumstances) as being an amount received or receivable by the taxpayer for the RC. ... As indicated above, one of the required conditions set out in subparagraph 56.4(3)(c)(ii) is that the amount in respect of the RC granted by the taxpayer must be consideration for an undertaking by the taxpayer not to compete. If the amount in respect of the RC granted by a taxpayer is not consideration for a RC that is an undertaking not to compete then the required condition set out in subparagraph 56.4(3)(c)(ii) will not be met. … Our understanding of the requirement of subparagraph 56.4(3)(c)(ii) of the Act when applied in the course of the sale of shares is that the subparagraph would allow an election with respect to the undertaking not to solicit the clients of the corporation that is sold, but it would not allow such an election with respect to the value of an undertaking not to solicit the employees to change employment.” ...

.); and XXXXXXXXXX cash consideration (the "Cash Consideration") which will be paid in XXXXXXXXXX. ... In addition, the Cash Portion described in paragraph 8(c) above, the Cash Consideration described in paragraph 8(g)iii)b. above and the Dividend Equivalents described in paragraph 8(h) above will be paid to the Participants by XXXXXXXXXX. ... The amount to be included in a Participant's income for a year in respect of the Cash Incentive Bonus and the EDC Plan will consist of the following amounts: under subsection 5(1) of the Act, the Cash Portion received from XXXXXXXXXX in the year; under subsection 5(1) of the Act, the Cash Consideration received from XXXXXXXXXX in the year; under subsection 5(1) of the Act, the Dividend Equivalents received from XXXXXXXXXX in the year; and under paragraph 7(1)(a) of the Act, the amount representing the fair market value of the XXXXXXXXXX Stock or the XXXXXXXXXX ADS, as the case may be, issued to the Participant in the year. ...

As sole consideration for the transfer of the Holdco common shares, Newco will issue to the respective transferor, common shares with a fair market value equal to the fair market value of the Holdco common shares at the time of the transfer. ... As sole consideration for the transfer, Newco will issue to Holdco preferred shares with a redemption and retraction amount and fair market value equal to the fair market value of the transferred properties that will be received by Newco. ... As sole consideration for the transfer, Holdco will issue to the respective transferor, Class XXXXXXXXXX Common Shares with a fair market value equal to the fair market value of the Holdco common shares at the time of the transfer. ...

Principal Issues: Whether agreement to issue shares for no consideration to employees if they remain continuously employed for a certain number of years results in taxable benefit in year of agreement or in year shares issued. ... The unvested shares subject to RSRs will be forfeited and all rights of the Employee will terminate without payment of consideration by XXXXXXXXXX or any subsidiary if the Employee fails to remain continuously as an Employee of XXXXXXXXXX or any subsidiary for the Restricted Period subject to (i) and (ii) below. ... Our rulings are based on the Act in its present form and do not take into consideration any proposed amendments to the Act. ...

The Estate will then subscribe for 1 common share for consideration of $XXXXXXXXXX. 18. ... The Estate will transfer all of the Daughter Shares to Subco, in consideration for additional common shares of Subco. ... In accordance with the Business Corporations Act (Ontario), Canco will reduce the paid-up capital of the Canco New Common Shares and the Canco New Preferred Shares held by Subco for no consideration. 22. ...

Profitco will transfer the Portfolio to Newco in consideration for the issue by Newco of Newco Preferred Shares. ... Profitco will exercise its right to retract the Newco Preferred Shares and Newco will redeem the Newco Preferred Shares in consideration for the issue by Newco to Profitco of a non-interest-bearing demand note (the "Newco Demand Note") having a principal amount and fair market value equal to the aggregate redemption amount of the Newco Preferred Shares. ... The provisions of subsection 85(1) will apply to the transfer of the Portfolio from Profitco to Newco, as described in Paragraph 9 above, such that: (a) the agreed amount in respect of each XXXXXXXXXX debt obligation so transferred will be deemed to be Profitco's proceeds of disposition thereof and Newco's cost thereof; and (b) the cost to Profitco of the Newco Preferred Shares received as consideration for the transfer will be equal to the aggregate of the agreed amounts in respect of each of the XXXXXXXXXX debt obligations comprising the Portfolio. ...

Its remaining shareholdings were acquired on subscription in exchange for $XXXXXXXXXX of cash consideration. ... The total consideration paid to Offeror will be equal to the fair market value of the Target shares at that time. ... Amalco will immediately transfer the shares of the Target Foreign Subsidiary to a subsidiary wholly-owned corporation of Parent at fair market value for cash consideration. 16. ...

The sale of the preferred provider organization operations was effected on XXXXXXXXXX, by having Forco1 sell all its shares of Forco2 to Buyco1 for cash consideration of US$XXXXXXXXXX. ... On XXXXXXXXXX, Forco4 completed the sale of the care management operations by disposing of its shares of Forco5 to Buyco2 for total cash consideration of US$XXXXXXXXXX. ... (ii) Opco2 and Opco1 have agreed to terminate the Opco2 Contract on XXXXXXXXXX, and Opco1 will transfer to Opco2 any residual intellectual property in connection with these legacy products; and (iii) Opco2 has agreed to pay approximately C$XXXXXXXXXX in consideration of the above as well as for other minor assets transferred in relation to certain other services. ...

The consideration paid by the borrower is in the form of a right provided to the lender to reacquire an equal number of identical securities for no consideration other than the extinguishment of the right. ... When the right to acquire securities given by the borrower to the lender is settled, the borrower will purchase from a third party the number of securities it originally borrowed (the "new securities") and dispose of them to the lender in consideration for the settlement of its obligation under the right. ... Our response below does not take into consideration the consequences, if any, of draft legislation including legislative proposals dated February 27, 2004, issued by the Department of Finance. ...