Products tagged with 'ontario'

If you entered into a contract on behalf of a company that was not incorporated yet, you can assign it to the corporation later under this Agreement to Adopt Pre-Incorporation Contract.

• The Agreement is made between a newly incorporated Ontario company and its principal shareholder. The new company agrees to adopt a contract between the shareholder and another party, which was entered into prior to its incorporation.
• The shareholder assigns its interest in the prior contract to the new company, and the new company becomes a party to the prior contract in place and stead of the shareholder, as if it had been an original party.
• As a principal of the corporation, it is advisable that you do this as soon as possible after incorporating to avoid any tax or other liability arising under the contract.
• This is a fully editable legal document that can be easily customized to meet your needs. Download it right after you purchase it.

Transfer shares under subsection 85(1) of the Income Tax Act (Canada) with this Ontario Section 85 Rollover Corporate Approval and Implementation Forms Package.

• The package of forms contains:
  • Bill of Sale and Indemnity, including the vendor's indemnity of the purchaser, and representations and warranties with respect to the sale;
  • Corporate Resolutions approving and authorizing the transaction;
  • Share Transfer Form transferring shares from the vendor to the purchaser;
  • Share Subscription from the vendor for new shares being issued by the purchaser as payment for the shares being transferred in the rollover.
• This package of forms is provided in MS Word format, and the forms are all fully editable to fit your specific circumstances.
• Intended to be used only in the Province of Ontario, Canada.

Prepare the required corporate resolutions to reorganize an Ontario corporation's share capital with this Section 86 Rollover Resolutions Package.

• These documents are required for a rollover with a fixed redemption amount, under s. 86 of the Income Tax Act (Canada).
• The package contains:
  • Special Resolution with instructions for wording of the Articles of Amendment, fixing the redemption amount on the new preference shares to be created;
  • Share Subscription for the replacement shares;
  • Corporate Resolutions accepting the subscriptions, setting the redemption amount for the new shares and including an undertaking of the directors not to declare dividends if it would reduce the corporation's assets and make it unable to redeem the shares at their full redemption amount;
  • Share Subscription from the new shareholder for the new shares;
  • Corporate Resolutions issuing the new shares.
• Completing the paperwork for an asset exchange is so much easier with this package of documents.
• Available in MS Word format.
• Intended to be used only in the Province of Ontario, Canada.

This package contains the resolutions and corporate forms required for a reorganization of a corporation's share capital through a Section 86 Rollover.

• This package contains the following:
  • Special Resolution with instructions for wording of the Articles of Amendment, with the redemption amount on the new preference shares to be set by the directors at the time of issue;
  • Share Subscription form for the new shares;
  • Corporate Resolutions accepting the subscriptions, limiting the addition to the capital account;
  • Directors' Undertaking not to declare dividends if it would reduce the corporation's assets and make it unable to redeem the shares at their full redemption amount.
• This Section 86 Rollover Resolutions Package contains all of these documents in one downloadable MS Word file. All forms are fully editable to fit your specific circumstances.
• Governed by Canadian tax laws and intended to be used only in the Province of Ontario.

Prepare share transfers for an Ontario corporation with this Share Transfer and Release Forms package.

• The package contains the following items:
  • Share Transfer and Indemnity Form, to transfer all of the shares of a corporation to a purchaser. The seller indemnifies the buyer and releases the corporation from any claims the seller may have with respect to the seller's involvement with the corporation.
  • A simpler form of Share Transfer, to transfer all or part of a shareholder's shares to another party.
  • A resolution of the directors of the corporation approving the share transfer.
• Available in MS Word format.
• Intended to be used only in the Province of Ontario, Canada.

Prepare a Share Pledge Agreement with No Recourse with this customizable template form for Ontario lenders.

This Share Pledge Agreement is intended to provide a lender with security from a corporate borrower in the Province of Ontario, Canada. It is compliant with the provisions of the Ontario Personal Property Security Act and is available in MS Word format.

Parties Involved

• Borrower: A corporate entity who is borrowing the funds and has issued the shares to the shareholder.
• Shareholder: The individual or entity who is pledging the shares of stock, and is a principal or stakeholder in the corporate borrower.
• Lender: The party providing the loan to the borrower.

Pledge of Shares

The shareholder pledges the shares to the lender. These shares are to be held as security for a loan that the lender is making to the borrower.

Additional Shares

The shareholder agrees to pledge any additional, substitute, or replacement shares issued in its name, ensuring that the security remains intact throughout the term of the loan.

Retention of Voting Rights and Dividends

So long as the borrower is not in default under the loan:

• the shareholder will retain the right to vote the shares that have been pledged at shareholder meetings, allowing the shareholder to continue participating in corporate decisions, and
• any dividends accruing to the shareholder will be payable to the account of the shareholder.

No Recourse Provision

In the event of a shortfall between the balance of the debt owing and any proceeds realized from dealing with the shares, the shareholder shall have no liability for such shortfall. The lender has no recourse against the shareholder for any deficiency in the repayment of the loan.

Non-Guarantee Status

The shareholder is not a guarantor, surety, or indemnifier with respect to the loan. Its only obligation is the pledge of shares as security.