Proposed Land Transfer The closing of the sale is conditional upon NS Power obtaining the necessary regulatory approval for the land sale. Pursuant to Section 5.3 of the Agreement, such approval must be obtained within 90 days of the Agree...
AI summary NS Power seeks regulatory approval for a land sale, required within 90 days of August 15, 2025, with a decision requested by November 13, 2025, to comply with the Agreement's terms.
5.3 Vendor's Conditions The obligation of the Vendor to complete the Agreement on Closing shall be subject to the Vendor satisfying the following conditions on or before the 90th day after the execution of this Agreement by both parties: R...
AI summary The Vendor's obligation to complete the Agreement is conditional on obtaining regulatory approvals and senior management approval. These conditions can be waived by the Vendor, and failure to meet them results in the Agreement becoming void with the Deposit being returned to the Purchaser.
7.1 Vendor's Representations The Vendor hereby represents and warrants to and in favour of the Purchaser that; - (a) the Vendor is a body corporate duly existing under the laws of the Province of Nova Scotia, and has the necessary corporat...
AI summary The Vendor makes several representations and warranties to the Purchaser, including its corporate authority, ownership of the Lands free of encumbrances, and its commitment to manage the Lands prudently and obtain the Purchaser's consent before making material changes.
9.7 Amendment of Agreement No supplement or amendment of the Agreement shall be binding unless executed in writing by the parties hereto in the same manner as the execution of this Agreement.
AI summary This section outlines the requirement that any amendment or supplement to the Agreement must be executed in writing by the parties in the same manner as the original Agreement to be binding.
Request IR-3: - a) Is it foreseeable that this property would be required by NS Power for future use related to its works in the area? - b) Please explain how this decision was arrived at.
AI summary The document contains two questions posed in Request IR-3, asking whether a property may be needed by NS Power for future use and how the decision was made.
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