Canada Set-Off and Cancellation Agreement

Prepare an Agreement for Set-off and Cancellation of Shares between two affiliated Canadian companies with this downloadable template.

• One of the companies (selling company) sells shares to the other (purchasing company), as part of a rollover transaction.
• The purchase price of the shares is set off against the redemption of shares of stock held by the purchasing company in the capital of the selling company.
• The purchaser pays for the shares by way of a promissory note. The vendor redeems the shares and pays the redemption price also by way of promissory note.
• Both promissory notes are for the same amount and set each other off.

This Canada Set-Off and Cancellation Agreement template is available in MS Word format, and is fully editable to fit your specific circumstances.