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" Cette position est généralement bien connue poisque dans le Corporate Management Tax Conference de 1987, il ait fait mention à la page 50 que: "Revenue Canada's position in respect of amounts received by a tenant as a consideration for cancellation of a lease or sub-lease has been consistent since 1976. ... Tel que nous vous l'avons mentionné lors d'une conversation teléphonique cet élément, bien qu'important en soi, doit être considéré seulement s'il a été démontré qu'il y a exploitation d'une entreprise et doit être analysé avec les autres critbres pris en considération pour détermine" s'il y a exploitation de deux entreprises distinctes. ...

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." ...

Les principaux droits, privilèges, conditions et restrictions de ces actions sont les suivants: Actions ordinaires: avec droit de vote et participantes; Actions privilégiées de catégorie « A »: sans valeur nominale, avec droit de vote, non participantes, dividende annuel fixe, non cumulatif de XXXXXXXXXX%, calculé sur la valeur de rachat desdites actions, rachetables au gré du détenteur à un prix égal au montant versé au compte de capital déclaré pour ces actions, plus une prime égale à l’excédent de la JVM de la considération reçue par la société lors de l’émission desdites actions et le montant versé au compte de capital déclaré, auquel s’ajoute, le cas échéant, les dividendes déclarés et impayés sur ces actions. ... Le contrat de vente contiendra une clause de rajustement de prix à l’effet que les parties ont effectué le transfert décrit au paragraphe 17 à la JVM et qu’elles ajusteront le prix de vente ainsi que la considération reçue si l’ARC évaluait les biens à une valeur différente convenable aux parties. 19. ...

Using the proceeds of IB Note, Profitco will subscribe for preferred shares of Lossco (“Lossco Preferred Shares”) for cash consideration of approximately $XXXXXXXXXX. ... At no time during the implementation of the Proposed Transactions will the Lossco Preferred Shares be: a) the subject of any undertaking that is referred to in subsection 112(2.2) as a “guarantee agreement”; b) the subject of a dividend rental arrangement as defined in subsection 248(1); 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: ii. an obligation of the type described in subparagraph 112(2.4)(b)(i), other than an obligation of a corporation that is related (if the Act were read without reference to paragraph 251(5)(b)); or iii. any right of the type described in subparagraph 112(2.4)(b)(ii). 29. ...

/The amount of the benefit under subsections 15(1) and 246(1) will depend on the consideration paid for that transfer. ... Le XXXXXXXXXX, aux termes d’un acte de vente reçu par Me XXXXXXXXXX, Société a acquis de SENC un immeuble situé au XXXXXXXXXX pour la somme de XXXXXXXXXX$ et autres considérations (décrite au paragraphe 6 ci-dessous), ce que SENC reconnait avoir reçu. ...

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. ...

Fund Management Company a) The Fund Management Company is a Non-Resident. b) The Fund Management Company manages the Fund at its own discretion and in its own name but for the account of the Unitholders. c) The Fund Management Company makes decisions relating to the management of the Fund Assets, the Subscription and the Redemption of Fund Units as well as the investment and distribution of the Fund Income. d) The Fund Management Company implements an investment policy that complies with the terms of the Fund Contract. e) The Fund Management Company acts independently and exclusively in the interest of the Unitholders. f) The Fund Units held by Unitholders that no longer meet the contractual requirements for participating in the Fund are subject to forced Redemption. g) The Fund Management Company is authorized and supervised by the Authority. h) The Fund Management Company is entitled to receive the fees stipulated in the Fund Contract in consideration for its services. ... The custodian bank shall not be responsible for any investment selection made by the fund management company within the scope of the investment guidelines.” c) The Custodian Bank ensures the Fund Management Company’s investment strategy, and Net Assets Value per Unit computation complies with the terms of the Fund Contract, and the requirements stated in the Foreign Legislation 1. d) The Custodian Bank may delegate its responsibility for the safekeeping of some of the Fund Assets to a third-party including the Canadian Sub-Custodian. e) The Fund Contract provides that the Custodian Bank acts independently and in good faith in the exclusive interest of the Unitholders. f) The Custodian Bank is authorized and supervised by the Authority. g) The Custodian Bank is entitled to receive a fee stipulated in the Fund Contract in consideration for its services. ...

If a Unitholder fails to comply with this demand, the Management Company, in cooperation with the Custodian Bank, must make an enforced switch into another Class of the Fund or, where this is not possible, enforce the Redemption of the Fund Units in question. g) The Foreign Legislation 1 provides that, in consideration of the services to be performed by the Management Company under the Fund Contract, the Management Company is entitled to receive fees stipulated in the Fund Contract. h) The Management Company is authorized and supervised by Authority and subject to an annual regulatory and financial audit. ... It checks whether the calculation of the Net Asset Value and of the issue and Redemption prices of the Fund Units as well as the investment decisions are in compliance with the law and the Fund Contract, and whether the income is appropriated in accordance with the Fund Contract. f) The Foreign Legislation 1 provides that, in consideration of the services to be performed by the Custodian Bank under the Fund Contract, the Custodian Bank is entitled to receive fees stipulated in the Fund Contract. g) The Custodian Bank is authorized and supervised by the Authority and subject to an annual regulatory and financial audit. ...

The Estate will transfer the ACo Shares to Newco in exchange for consideration consisting of: a) the Newco Note, which will have a principal amount and FMV equal to the lesser of: i. the ACB of the ACo Shares (to the Estate) at the time of transfer less $XXXXXXXXXX; and ii. the FMV of the ACo Shares at the time of transfer less $XXXXXXXXXX; and b) XXXXXXXXXX Newco Class A Special Shares with a redemption price and FMV equal to $1.00 plus the positive difference (if any) between the FMV and ACB of the ACo Shares at the time of transfer. 17. ... On the amalgamation: a) the 100 Newco Common Shares held by the Estate will be exchanged for 100 Amalco Common Shares having terms and conditions identical to the terms and conditions attached to the Newco Common Shares; b) the 100,000 Class A Newco Special Shares will be exchanged for 100,000 Amalco Class A Special Shares having terms and conditions identical to the terms and conditions attached to the Newco Class A Special Shares; and c) the ACo Shares held by Newco will be cancelled without payment of any consideration. 24. ...

The Estate will transfer the Holdco Shares to Newco and, in exchange, the Estate will receive the following consideration from Newco: a. the Newco Note, which will have a principal amount and FMV equal to the lesser of: (i) the aggregate “adjusted ACB” of the Holdco Shares determined in accordance with paragraph 84.1(2)(a.1), less $XXXXXXXXXX; and (ii) the aggregate FMV of the Holdco Shares at the date of the transfer, less $XXXXXXXXXX; b. ... Nothing in this letter should be construed as confirmation, express or implied, that, for the purpose of any of the rulings given above, any adjustment to the FMV of the properties transferred or the redemption amount of the shares issued as consideration, whether pursuant to a price adjustment clause or otherwise, will be effective retroactively to the time of the transfer or issuance of shares. ...