N-8NSPML (NSEB) RIR 1 to 44 - Redacted
46 passages
or acts when undertaken with the standard set forth in the first two sentences of this definition at such time; " Granting Party " has the meaning set forth in Sectio[n 15.3(f)](#page-135-0) ; " HSE " means health, safety and the environme...
AI summary The text provides definitions and terminology used in a legal or regulatory agreement, including terms such as 'Granting Party,' 'HSE,' 'HST,' 'IP Commercialization End Date,' and 'Initial LTAMP Cost Estimate.' These definitions are contextually relevant for understanding obligations, financial responsibilities, and operational timelines under the agreement.
r performing this role, as applicable, in respect of NL; " Tariff Charges " means any charges arising pursuant to a tariff or other schedule of fees in respect of electricity transmission services; " Tax " or " Taxes " means any tax, fee,...
AI summary The text defines key terms related to tariffs, taxes, and contractual obligations in an agreement involving electricity transmission services and third-party intellectual property rights. These definitions are critical for understanding the legal and financial framework of the agreement.
- (c) HST - Notwithstanding Sections [5.7(a)](#page-106-3) and [5.7(b)](#page-106-4) , the Parties acknowledge and agree that: - (i) all amounts of consideration, or payments and other amounts due and payable to or recoverable by or from t...
AI summary This section outlines the treatment of HST and other taxes under the agreement, specifying that taxes are exclusive of payments and must be paid in accordance with applicable law. It also addresses the gross-up of payments under the Excise Tax Act and the handling of input tax credits.
(g) Determination of Value for Tax Compliance Purposes - (i) Subject to the right of final determination as provided under Section [5.7(g)(ii)](#page-109-1) the Parties agree to co-operate in determining a value for any property or service...
AI summary The Parties agree to cooperate in determining the value of property or services supplied for non-cash consideration for tax compliance purposes. Invoices must include specific details such as HST registration numbers, taxable supplies, HST rates, and exempt or zero-rated supplies as required by Applicable Law.
(j) HST Registration Status and Residency - (i) Nalcor represents and warrants that it is registered for purposes of the HST and that its registration number is 837364611, and undertakes to advise Emera of any change in its HST registratio...
AI summary Nalcor and Emera confirm their HST registration numbers and commit to informing each other of any changes. Both also confirm they are not non-residents of Canada under the Income Tax Act and agree to cooperate to minimize taxes under the agreement.
12.3 Own Property Damage For the avoidance of doubt, it is the Parties' intent that, subject to any right a Party may have to seek compensation from a third party who caused the Loss or from insurance, each Party shall be responsible for a...
AI summary The Parties agree that each is responsible for Losses to its own property, including facilities, equipment, and materials on the site of Defined Assets, regardless of the cause, including O&M Activities or the actions of the other Party or its affiliates. This applies unless compensation from a third party or insurance is available.
" Business Day " means any day that is not a Saturday, Sunday or legal holiday recognized in the City of St. John's, NL, or in Halifax Regional Municipality, NS; " Consenting Party " means [Nalcor/Emera or, if applicable as a result of pri...
AI summary The document defines key terms in a legal agreement, including 'Business Day,' 'Consenting Party,' 'Control,' 'Dispute Resolution Procedure,' 'Effective Date,' 'Emera,' 'Excise Tax Act,' 'HST,' 'Income Tax Act,' and 'Insolvency Event.' These definitions are foundational to the agreement's interpretation and enforcement.
2.8 Supplies and Payments Exclusive of Taxes - (a) Payment of Taxes Each Party is separately responsible for, and shall in a timely manner discharge, its separate obligations in respect of the payment, withholding and remittance of all Tax...
AI summary This section outlines the responsibilities of each party regarding the payment of taxes, excluding HST, and specifies that taxes are to be paid in addition to other amounts. It also requires documentation to be provided if one party is required to collect taxes.
2.9 Determination of Value for Tax Compliance Purposes - (a) Subject to the right of final determination as provided under Section 2.9(b) , the Parties agree to co-operate in determining a value for any property or service supplied pursuan...
AI summary This section outlines the process for determining the value of property or services provided under the agreement for tax compliance purposes. It emphasizes cooperation between parties and specifies that the party responsible for taxes must determine the value in Canadian dollars.
2.10 Invoicing All invoices issued pursuant to this Agreement shall include all information prescribed by Applicable Law together with all other information required to permit the Party required to pay Taxes, if any, in respect of such sup...
AI summary The invoicing requirements under the agreement mandate that all invoices include specific details such as HST registration numbers, taxable supply subtotals, HST rates, and charges for exempt or zero-rated supplies, as required by Applicable Law to allow for input tax credits and other recoveries.
2.12 HST Registration Status (a) The Assignee represents and warrants that it is registered for purposes of the HST and that its registration number is ●. (b) The Assignor represents and warrants that it is registered for purposes of the H...
AI summary The section outlines the HST registration status of both the Assignee and the Assignor, stating that each is registered for HST purposes and provides their respective registration numbers.
ken but rather shall be determined based upon the consistency of the practices, methods, or acts when undertaken with the standard set forth in the first two sentences of this definition at such time; " HST " means all amounts exigible pur...
AI summary The text defines key terms including 'HST', 'Hydrology Event', 'ISO-NE', 'ISO-NE Tariff', and 'Income Tax Act', providing clarity on their meanings in the context of regulatory proceedings in Nova Scotia.
- (c) "Including" - The word "including", when used in this Agreement, means "including without limitation". - (d) Accounting References [1.2(d)](#page-16-1) - Where the character or amount of any asset or liability or item of income or ex...
AI summary This section outlines definitions and accounting standards for the agreement, specifying the use of US GAAP with exceptions for Canadian GAAP where applicable, and clarifies statutory references and trade meanings used within the document.
15.4 Assignment – Tax Requirements Notwithstanding any other provision in this Agreement, except as otherwise agreed to by the Parties in writing, a Party shall not assign any of its interest in this Agreement to another Person unless: - (...
AI summary This section outlines the conditions under which a party may assign its interest in the agreement, focusing on tax requirements. The assignee must be registered for HST and provide its registration number, and prior approval is required if the assignee has a different tax residency status.
nt Amount" delete the words "U.S. Dollars" in the second line and replace them with the words: "the currency of such Transaction". - 1.62 "DBRS" means Dominion Bond Ratings Service or its successor. - 1.63 "GST" means Goods and Services Ta...
AI summary The text defines key terms in a legal agreement, including modifications to currency references and the definition of a 'Letter of Credit Default,' which outlines scenarios where a party fails to maintain or comply with a Letter of Credit as required by the agreement.
ARTICLE NINE: GOVERNMENTAL CHARGES - 9.2 Governmental Charges. In the first sentence replace "Seller shall pay or cause to be paid all taxes" with "Seller shall pay or cause to be paid, or reimburse Buyer if Buyer has paid, all taxes". In...
AI summary This section of the document outlines modifications to the payment of governmental charges, particularly GST, between the Seller and Buyer. It specifies that GST payable by the Buyer in relation to the Product must be paid to the Seller, who is responsible for remitting it to the Crown. Similar rules apply to other refundable taxes.
by a governmental authority under the applicable law of the Province of Nova Scotia, except income Taxes and, for greater certainty, does not include GST and all other federal or international Taxes. The following definition is added as a...
AI summary The text defines 'Tax' broadly, encompassing various types of taxes, fees, and charges, and adds new definitions for 'Safety Event' and 'Tax' under the Energy Access Agreement. It explicitly excludes certain taxes, such as GST, from the definition.
"9.6 HST Registration Status and Residency . - (a) Nalcor represents and warrants that it is registered for purposes of the GST and that its registration number is 837364611, and undertakes to advise NSPI of any change in its GST registrat...
AI summary This section outlines the GST registration status and residency commitments of Nalcor and NSPI, ensuring compliance with the Income Tax Act and informing each other of any changes.
aken but rather shall be determined based upon the consistency of the practices, methods or acts when undertaken with the standard set forth in the first two sentences of this definition at such time; " HST " means all amounts exigible pur...
AI summary The text defines several key terms, including 'Confidential Information,' 'HST,' 'Income Tax Act,' 'Indemnified Party,' 'Indemnitor,' 'In-Service Date,' and 'Insolvency Event,' providing clarity on their meanings and implications within the regulatory context.
4.8 Waiver of Unbilled Charges If a Payee entitled to payment in respect of an amount paid by the Payee to a third party fails to invoice the Payor pursuant to this Article 4 for such amount within six months after the date the Payee made...
AI summary This section outlines the waiver of unbilled charges, stating that if a payee fails to invoice a payor within six months of making a payment to a third party, the payor waives the right to reimbursement. However, taxes such as HST can still be recovered under statutory rights, including Section 224 of the Excise Tax Act.
5.1 Supplies and Payments Exclusive of Taxes - (a) Payment of Taxes - Each Party is separately responsible for, and shall in a timely manner discharge, its separate obligations in respect of the payment, withholding and remittance of all T...
AI summary This section outlines the responsibilities of Emera and Nalcor regarding the payment of taxes, including HST, and how they handle tax obligations under the agreement. Each party is responsible for its own taxes, with provisions for offsetting and reimbursement where applicable.
5.2 Determination of Value for Tax Compliance Purposes - (a) Subject to the right of final determination as provided under Section 5.2(b) , the Parties agree to co-operate in determining a value for any property or service supplied pursuan...
AI summary This section outlines the process for determining the value of property or services provided under the agreement for tax compliance purposes, including cooperation between parties and self-assessment requirements when applicable.
5.3 Invoicing All invoices, as applicable, issued pursuant to Article 4 shall include all information prescribed by Applicable Law together with all other information required to permit the Party required to pay Taxes, if any, in respect o...
AI summary Section 5.3 outlines the requirements for invoicing under Article 4, emphasizing the inclusion of specific information to allow for tax credits and refunds. It mandates details such as HST registration numbers, taxable supplies, applicable HST rates, and exempt or zero-rated supplies.
5.4 Payment and Offset - (a) Subject to Section 5.4(b) , Taxes collectable by one Party from the other Party pursuant to this Agreement will be payable in immediately available funds within 30 days of receipt of an invoice. - (b) A Party m...
AI summary This section outlines the payment and offset procedures for taxes between the parties under the agreement. Taxes are to be paid within 30 days of receiving an invoice, and a party may offset taxes owed against other amounts receivable, provided applicable laws are followed.
5.5 HST Registration Status and Residency - (a) Nalcor represents and warrants that it is registered for purposes of the HST and that its registration number is 837364611, and undertakes to advise Emera of any change in its HST registratio...
AI summary This section outlines the HST registration status and residency commitments of Nalcor and Emera, ensuring compliance with Canadian tax regulations. Both parties confirm their HST registration numbers and commit to notifying each other of any changes in their status.
5.6 Cooperation to Minimize Taxes Each Party shall use reasonable efforts to implement the provisions of and to administer this Agreement in accordance with the intent of the Parties to minimize all Taxes in accordance with Applicable Law,...
AI summary The section outlines the Parties' obligation to cooperate in minimizing taxes under the agreement, ensuring neither is adversely affected. It requires efforts to obtain exemptions, recoveries, and apply prudent mitigation strategies. Any rebate or refund received must be shared with the other Party if they initially paid the tax.
5.7 Additional Tax Disclosure Notwithstanding any other provision in this Agreement, unless otherwise agreed to by the Parties in writing, each of the Parties agrees to provide to the other Party, in writing, the following additional infor...
AI summary This section outlines the obligations of the Parties to disclose additional tax-related information to each other for the purpose of applying taxes under the Agreement. The disclosure includes details about HST applicability, residency status for tax purposes, and any other relevant facts that may affect tax withholding or payment.
5.8 Prohibited Tax Disclosure Except as required by Applicable Law, notwithstanding any other provision of this Agreement, each Party shall not make any statement, representation, filing, return or settlement regarding Taxes on behalf of t...
AI summary This section prohibits parties from making any tax-related statements or filings on behalf of the other party without prior written consent, except as required by applicable law.
5.10 Tax Indemnity Each Party (in this Section referred to as the " First Party ") shall indemnify and hold harmless the other Party from and against any demand, claim, payment, liability, fine, penalty, cost or expense, including accrued...
AI summary This section outlines the tax indemnity obligations between the parties, requiring each to indemnify the other against tax-related claims, payments, and liabilities. It specifies that each party is responsible for taxes under Article 5 and any withholding taxes due to non-residency under the Income Tax Act.
5.11 Additional Tax Indemnity If one Party (in this Section referred to as the " First Party ") is, at any time, a nonresident of Canada for the purposes of the Income Tax Act or the Applicable Law of a foreign jurisdiction, the First Part...
AI summary This section outlines the obligation of a non-resident party to pay and indemnify the other party for taxes imposed by a foreign jurisdiction on payments made under the agreement. The section specifies that the non-resident party must cover these taxes, with adjustments for any tax credits or refunds the other party may receive.
5.12 Assignment – Tax Requirements Notwithstanding any other provision in this Agreement, except as otherwise agreed to by the Parties in writing, a Party shall not assign any of its interest in this Agreement to another Person unless: - (...
AI summary This section outlines the conditions under which a party may assign its interest in the agreement, including requirements related to HST registration, tax residency approval, and compliance with Article 5.
2.11 Payment and Offset (a) Subject to Section 2.11(b) , Taxes collectable by one Party from another Party pursuant to this Agreement will be payable in immediately available funds within 30 days of receipt of an invoice. (b) A Party may o...
AI summary This section outlines the procedures for paying and offsetting taxes between parties under the agreement. Taxes are to be paid within 30 days of receiving an invoice, and parties may offset taxes owed against other amounts receivable, provided they comply with applicable laws.
ken but rather shall be determined based upon the consistency of the practices, methods, or acts when undertaken with the standard set forth in the first two sentences of this definition at such time; " Government Action " means a measure...
AI summary The text defines key terms such as 'Government Action,' 'Government Action of General Application,' 'HST,' 'ISO-NE,' 'ISO-NE Tariff,' and 'Income Tax Act' within the context of a legal agreement involving Emera and Nalcor. These definitions establish legal boundaries and clarify the scope of various terms relevant to the agreement.
d for greater certainty is an amount net of Transmission Losses) for the five-year period commencing at First Commercial Power; " Supporting Material " has the meaning set forth in Section 9.1 ; " System Operator " means, as applicable, th...
AI summary The text defines key terms and concepts used in a regulatory agreement, including 'Supporting Material,' 'System Operator,' 'Tariff Charges,' and 'Tax.' These definitions establish the framework for interpreting the agreement and are referenced in specific sections of the document.
3.1 Supplies and Payments Exclusive of Taxes - (a) Payment of Taxes Each Party is separately responsible for, and shall in a timely manner discharge, its separate obligations in respect of the payment, withholding and remittance of all Tax...
AI summary This section outlines the responsibilities of Nalcor and Emera regarding the payment of taxes and governmental charges related to the Nova Scotia Block and GHG Credits. Each party is responsible for paying taxes applicable to their respective obligations, with provisions for offsetting and reimbursement where necessary.
3.3 Invoicing All invoices, as applicable, issued pursuant to Article 9 shall include all information prescribed by Applicable Law together with all other information required to permit the Party required to pay Taxes, if any, in respect o...
AI summary This section outlines the requirements for invoicing under Article 9, emphasizing the need for invoices to include specific information such as HST registration numbers, taxable supplies, HST rates, and exempt or zero-rated supplies to facilitate tax claims and compliance with Applicable Law.
3.5 HST Registration Status and Residency (a) Nalcor represents and warrants that it is registered for purposes of the HST and that its registration number is 837364611, and undertakes to advise Emera of any change in its HST registration...
AI summary The section outlines the HST registration status and residency of Nalcor and Emera, including their respective registration numbers and commitments to notify each other of any changes in status.
3.7 Additional Tax Disclosure Notwithstanding any other provision in this Agreement, unless otherwise agreed to by the Parties in writing, each of the Parties agrees to provide to the other Party, in writing, the following additional infor...
AI summary This section outlines the obligation of each party to disclose tax-related information to the other, including whether supplies are subject to HST, residency status of recipients, and any other relevant tax facts. Both parties must also notify each other of any material changes to this information.
3.8 Prohibited Tax Disclosure Except as required by Applicable Law, notwithstanding any other provision of this Agreement, each Party shall not make any statement, representation, filing, return or settlement regarding Taxes on behalf of t...
AI summary Section 3.8 prohibits parties from making tax-related statements or filings on behalf of the other without prior written consent, except as required by applicable law.
3.9 Withholding Tax If required by the Applicable Law of any country having jurisdiction, a Party shall have the right to withhold amounts, at the withholding rate specified by such Applicable Law, from any compensation payable pursuant to...
AI summary This section outlines the rules for withholding tax under the agreement, specifying that a party may withhold amounts at the rate set by applicable law and provide documentation to the other party regarding such withholdings.
3.10 Tax Indemnity Each Party (in this Section referred to as the " First Party ") shall indemnify and hold harmless the other Party from and against any demand, claim, payment, liability, fine, penalty, cost or expense, including accrued...
AI summary This section outlines the tax indemnity obligations under the agreement, where each party must indemnify the other against tax-related claims, liabilities, and expenses, including HST, arising from their failure to pay taxes as required under the agreement.
3.12 Assignment – Tax Requirements Notwithstanding any other provision in this Agreement, except as otherwise agreed to by the Parties in writing, a Party shall not assign any of its interest in this Agreement to another Person unless: - (...
AI summary This section outlines the conditions under which a party may assign its interest in the agreement, emphasizing the requirement for HST registration, approval for different tax residency statuses, and compliance with the terms of Article 3.
9.8 Waiver of Unbilled Charges If a Payee entitled to payment in respect of an amount paid by the Payee to a third party fails to invoice the Payor pursuant to this Article 9 for such amount within six months after the date the Payee made...
AI summary This section outlines the waiver of unbilled charges, stating that if a Payee does not invoice the Payor within six months of making a payment to a third party, the Payor waives the right to reimbursement. However, statutory rights to recover taxes, such as HST under the Excise Tax Act, remain unaffected.
2.9 Determination of Value for Tax Compliance Purposes - (a) Subject to the right of final determination as provided under Section 2.9(b) , the Parties agree to co-operate in determining a value for any property or service supplied pursuan...
AI summary This section outlines the process for determining the value of property or services provided under the agreement for tax compliance purposes. It emphasizes cooperation between parties and specifies that the party responsible for taxes must determine the value in Canadian dollars.
2.10 Invoicing All invoices issued pursuant to this Agreement shall include all information prescribed by Applicable Law together with all other information required to permit the Party required to pay Taxes, if any, in respect of such sup...
AI summary The invoicing requirements under the agreement mandate that all invoices include specific details such as HST registration numbers, taxable supply subtotals, HST rates, and charges for exempt or zero-rated supplies, as required by Applicable Law to allow for input tax credits and other recoveries.
2.12 HST Registration Status (a) The Assignee represents and warrants that it is registered for purposes of the HST and that its registration number is ●. (b) The Assignor represents and warrants that it is registered for purposes of the H...
AI summary The section outlines the HST registration status of both the Assignee and the Assignor, stating that each is registered for HST purposes and provides their respective registration numbers.
N-20Bank of Canada Monetary Policy Report—October 2025
11 passages
Chart 10: CPI inflation rose in September as the drag from gasoline prices eased Year-over-year percentage change, monthly data Sources: Statistics Canada and Bank of Canada calculations and estimates Last data plotted: March 2026 Inflatio...
AI summary CPI inflation rose in September as the drag from gasoline prices eased. Inflation in services prices remains close to 3%, supported by strong growth in prices for some shelter components, financial services, fast food, and motor vehicle insurance. Inflation is expected to drop in October as energy prices decline, but year-over-year inflation is anticipated to rise slightly by January 2026 due to the GST/HST holiday. After January 2026, inflation is projected to dip below 2%.
Chart 11: Inflation in shelter services prices has moderated since the start of the year Note: The heatmap shows the distance of each CPI component's year-over-year inflation rate from its historical average. The colour is white when a com...
AI summary Chart 11 shows that inflation in shelter services prices has moderated since the start of the year. The heatmap visualizes year-over-year inflation rates of CPI components relative to their historical averages, with colors indicating deviations. The analysis includes data from 1996 to 2019, with some components starting in 2004 or 2008. The chart also accounts for the temporary GST/HST holiday in late 2024 and early 2025.
Inflation outlook Inflation is projected to decline from 2.4% in September and settle around 2% in early 2026. It remains there throughout the projection horizon ([Chart 24](#page-39-0)). Inflation at 2% reflects opposing forces. On the up...
AI summary Inflation is projected to decline to 2% by early 2026 and remain stable thereafter. This projection considers both upward pressures from trade tariffs and production restructuring, and downward pressures from excess supply.
Inflation in prices for goods The continued effects of tariffs and the increased cost of imports are expected to put upward pressure on inflation. While most Canadian counter-tariffs were lifted on September 1, counter-tariffs on steel, al...
AI summary Inflation in goods prices is influenced by ongoing tariffs, increased import costs, and global trade reconfiguration. While tariffs on steel, aluminum, and motor vehicles remain, their impact on the CPI is projected to be 0.4%, a reduction from previous estimates. However, US tariffs on goods from China and Brazil are increasing import costs. Ongoing supply excess and fading cost pressures may ease inflation, but the removal of the carbon tax will reduce downward pressure starting in 2026.
Tariffs have increased core inflation Consumer price index (CPI) inflation has ticked up, largely because businesses have passed on some of the cost of higher tariffs to consumers ([Chart 29](#page-47-0)). Businesses will likely pass on mo...
AI summary Consumer price index (CPI) inflation has increased due to businesses passing on higher tariffs to consumers. Core CPI rose to 3.1% in the third quarter of 2025, driven by tariff impacts on goods like cookware, motor vehicles, and appliances. About half of the cost pass-through from tariffs has occurred by September, with services price inflation remaining high. Inflation expectations remain elevated among manufacturers, service businesses, and households.
Chart 29: Inflation in US goods prices is rising as tariff costs are passed on to consumer prices Contributions to core CPI growth, year-over-year, monthly data Sources: US Bureau of Labor Statistics via Haver Analytics and Bank of Canada...
AI summary Chart 29 illustrates the rise in US goods prices inflation, highlighting how tariff costs are being passed on to consumer prices. The data, sourced from the US Bureau of Labor Statistics and the Bank of Canada, shows contributions to core CPI growth year-over-year as of September 2025.
Table 4: Summary of the quarterly projection for Canada\ 2025 2024 2025 2026 2027 Q1 Q2 Q3 Q4 Q4 Q4 Q4 Q4 CPI inflation (year-over-year percentage change) 2.3 1.7 2.0 2.0 (2.1) 1.9 2.0 2.2 2.1 (1.9) (2.4) (2.1) Core inflation (year-over-ye...
AI summary Table 4 presents quarterly projections for Canada, including CPI inflation, core inflation, and real GDP growth from 2024 to 2027. The data includes year-over-year and quarter-over-quarter percentage changes, with some figures sourced from the January Report.
US tariffs could raise inflation in Canada more than expected The cost of higher US import tariffs is affecting inflation in the United States. Inflation in Canada could also be affected in several ways, including the following: - US tarif...
AI summary US import tariffs may increase inflation in Canada more than expected due to interconnected supply chains, potential disruptions, multinational price adjustments, and a weaker Canadian dollar, all of which could raise production and import costs.
The assessment for underlying inflation Core inflation is one of the indicators the Bank of Canada considers when assessing underlying inflation. Measures of core inflation aim to filter out shortterm noise, typically by excluding volatile...
AI summary The Bank of Canada assesses underlying inflation using core inflation measures, which exclude volatile components. Recent core inflation rates have ranged between 2½% and 3¼%, with some measures showing slight increases and others remaining stable in September.
Chart 34: Measures of core inflation remain around 2½% to 3¼% Year-over-year percentage change, monthly data Note: Core measures included are CPI-trim, CPI-median, CPIX and CPIXFET. CPI-trim excludes CPI components whose rates of change in...
AI summary Chart 34 shows core inflation measures, such as CPI-trim and CPIX, remained between 2½% and 3¼% in September 2025. The breadth of inflation suggests underlying inflation is closer to 2½%, slightly below the Bank's preferred core measures. Chart 35 indicates that the distribution of price changes is slightly skewed upwards, pointing to elevated inflation for some components.
Shifts in trade are expected to add costs Canadian counter-tariffs on US imports are pushing up costs and inflation ([Chart 37](#page-64-0)). The peak impact from tariffs on the level of the consumer price index (CPI) is now projected to b...
AI summary Canadian counter-tariffs on US imports are increasing costs and inflation, with the peak impact on the CPI projected at 0.4% in Q1 2026, down from 0.8% in the July Report due to the removal of most counter-tariffs. Counter-tariffs have already raised prices by approximately 0.3%.