Search - consideration

Avant le XXXXXXXXXX, Succession transférera XXXXXXXXXX actions de catégorie « A » et XXXXXXXXXX actions de catégorie « E » du capital-actions de Société (ci-après collectivement désignées les « Actions transférées ») en faveur de Nouco, en considération de XXXXXXXXXX actions de catégorie « A » du capital-actions de Nouco, d’un premier billet (le « Billet 1 ») ne portant pas intérêt au montant de XXXXXXXXXX $ et d’un second billet (le « Billet 2 ») ne portant pas intérêt pour un montant correspondant à l’excédent de la Somme convenue sur le total du montant du Billet 1 et d’un montant de XXXXXXXXXX dollars. ... En XXXXXXXXXX, chacune de Fiducie2, Fiducie3 et Fiducie4 transférera la totalité des actions de catégorie « J » du capital-actions de Société, en faveur de Nouco, en considération d’actions de catégorie « F » du capital-actions de Nouco. ...

Immediately following the payment of interest described in Paragraph 23, the following transactions will occur to unwind the loss consolidation arrangement: (a) Newco will redeem the Newco Preferred Shares held by ACo in consideration for a non-interest bearing promissory note issued by Newco (the "Newco Note"). ... The Newco Preferred Shares will not, at any time during the implementation of the Proposed Transactions described herein, be: (a) the subject of any undertaking that is referred to in subsection 112(2.2) as a “guarantee arrangement”; (b) the subject of a dividend rental arrangement; (c) the subject of any secured undertaking of the type described in paragraph 112(2.4)(a); or (d) issued for consideration that is or includes: i. an obligation of the type described in subparagraph 112(2.4)(b)(i), other than an obligation of a corporation that is related (otherwise than by reason of a right referred to in paragraph 251(5)(b)); or ii. any right of the type described in subparagraph 112(2.4)(b)(ii). 39. ...

As a result, the condition set out in subparagraph 70(6)(b)(ii) would not be met. (3) No proceeds of disposition would be deemed received for the purposes of subsection 106(2) when the usufructuary validly surrenders, without consideration and without directing in any manner who is entitled to benefit therefrom, his/her income interest in the deemed trust. ... Subsections 107(2.1) and (4) would apply to this distribution and it could be possible for the personal trust to claim the principal residence exemption under paragraph 40(2)(b), provided that the conditions for the property to qualify a “principal residence” as defined in section 54 are all met. (4) By effect of subsection 70(5) or paragraph 69(1)(b), as the case may be, the bare owner would be deemed to have received a consideration equal to the FMV of his/her capital interest in the deemed trust as a result of the deemed disposition at death or of the assignment of his/her right in favour of the usufructuary, as the case may be. ...

Immediately following the payment of interest described in Paragraph 23, the following transactions will occur to unwind the loss consolidation arrangement: (a) Newco will redeem the Newco Preferred Shares held by ACo in consideration for a non-interest bearing promissory note issued by Newco (the "Newco Note"). ... The Newco Preferred Shares will not, at any time during the implementation of the Proposed Transactions described herein, be: (a) the subject of any undertaking that is referred to in subsection 112(2.2) as a “guarantee arrangement”; (b) the subject of a dividend rental arrangement; (c) the subject of any secured undertaking of the type described in paragraph 112(2.4)(a); or (d) issued for consideration that is or includes: i. an obligation of the type described in subparagraph 112(2.4)(b)(i), other than an obligation of a corporation that is related (otherwise than by reason of a right referred to in paragraph 251(5)(b)); or ii. any right of the type described in subparagraph 112(2.4)(b)(ii). 39. ...

Immediately following the payment of interest described in Paragraph 23, the following transactions will occur to unwind the loss consolidation arrangement: (a) Newco will redeem the Newco Preferred Shares held by ACo in consideration for a non-interest bearing promissory note issued by Newco (the "Newco Note"). ... The Newco Preferred Shares will not, at any time during the implementation of the Proposed Transactions described herein, be: (a) the subject of any undertaking that is referred to in subsection 112(2.2) as a “guarantee arrangement”; (b) the subject of a dividend rental arrangement; (c) the subject of any secured undertaking of the type described in paragraph 112(2.4)(a); or (d) issued for consideration that is or includes: i. an obligation of the type described in subparagraph 112(2.4)(b)(i), other than an obligation of a corporation that is related (otherwise than by reason of a right referred to in paragraph 251(5)(b)); or ii. any right of the type described in subparagraph 112(2.4)(b)(ii). 39. ...

Dans la note de service mentionnée ci-dessus (dossier #7-3945), la section des institutions financières énonçait que le produit de disposition, pour le prêteur de valeurs mobilières, était égal à:      "The proceeds from the disposition bv the lender would be equal to the value of the consideration received i.e. the value of the right to require delivery of identical shares at a specific time for further consideration." ...

Factors that will be taken into consideration include the regularity and length of visits to Canada, industrial practice (e.g. offshore personnel usually work 30 days on and 30 days off), the nature of the work performed and the remoteness of the work site from any established community. ... From a payroll withholding and reporting perspective, what considerations must be given? ...

A recording or communication of a future intention to set up a trust is not enough, unless the statement of future intention was "bought" by another for valuable consideration. ... The court went on to state that if it was merely a voluntary promise (or even a covenant under seal but not supported by valuable consideration), no trust will be created since equity will not give assistance to a volunteer. ...

For example, if the shares owned by the estate are repurchased for consideration consisting of a demand promissory note and the calling of the note by the estate would have an adverse impact on the operations of the corporation, then the estate could be considered to have some influence which could result in factual control of the corporation. The determination of whether the estate has any such influence over the corporation can only be made following a consideration of all of the facts related to a particular situation. ...

Factors that will be taken into consideration include the regularity and length of visits to Canada, industrial practice (e.g. offshore personnel usually work 30 days on and 30 days off), the nature of the work performed and the remoteness of the work site from any established community. ... From a payroll withholding and reporting perspective, what considerations must be given? ...