OFFER TO PURCHASE FOR CASH EMERGIS INC ... - About TELUS
OFFER TO PURCHASE FOR CASH EMERGIS INC ... - About TELUS
OFFER TO PURCHASE FOR CASH EMERGIS INC ... - About TELUS
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kind in respect of the Shares other than in the ordinary course of business consistent with past practice; (j) not amend its<br />
articles or by-laws; (k) not settle or compromise any claim by any holder or former holder of Shares in connection with the<br />
transactions contemplated by the Support Agreement; (l) except in the ordinary course or as required by applicable law,<br />
not enter into or materially modify any Material Contract (as defined in the Support Agreement) if such action would<br />
result in a Material Adverse Effect; (m) not liquidate or wind-up or dissolve Emergis or its Subsidiaries; (n) not amend the<br />
articles or by-laws of any Subsidiary or purchase or redeem any securities of any Subsidiary, or create any new<br />
subsidiaries; (o) except pursuant to a Pre-Acquisition Reorganization, not reorganize, amalgamate, consolidate, wind up<br />
or merge Emergis or any Subsidiary with any other Person, nor acquire or agree to acquire any Person or business of any<br />
other Person; (p) not sell, pledge, mortgage, lease or encumber any material assets; (q) except for commitments entered<br />
into prior to the date of the Support Agreement which are not in the ordinary course and which are disclosed in the<br />
Emergis Disclosure Letter or non-capital expenditures in the ordinary course of business consistent with past practices,<br />
not make any individual expenditure or series thereof in excess of $200,000 or expenditures in the aggregate in excess of<br />
$500,000; (r) maintain current insurance; (s) not reduce the stated capital of Emergis or any Subsidiary; (t) not make any<br />
write down of assets or make changes to accounting practices; (u) not enter into any lease or sublease real property or<br />
modify, amend or exercise any right to renew any lease or sublease of real property; (v) not create or change any Benefit<br />
Plan (as defined in the Support Agreement); and (w) cause Emergis and its Subsidiaries to file all tax returns required to be<br />
filed and not to make changes relating to its tax status.<br />
Pre-Acquisition Reorganization: Emergis has agreed that, upon written notice provided by the Offeror at least<br />
10 Business Days (as defined in the Support Agreement) prior to the Expiry Time, Emergis shall effect such<br />
reorganization of its business, operations, Subsidiaries and assets or such other transactions (each, a “Pre-Acquisition<br />
Reorganization”) as the Offeror reasonably requests prior to the Effective Date, provided that the Pre-Acquisition<br />
Reorganizations are not prejudicial to Emergis, its Subsidiaries or its Shareholders in any material respect and (a) do not<br />
result or are not likely to result in any breach by Emergis or any of its Subsidiaries of (i) any existing contract or<br />
commitment of Emergis or its Subsidiaries; or (ii) any Law; or (b) would not reasonably be expected to impede or delay<br />
the Offeror’s ability to take up and pay for the Shares tendered to the Offer. Without limiting the foregoing, Emergis shall<br />
use commercially reasonable efforts to obtain all necessary consents, approvals or waivers from any Persons to effect each<br />
Pre-Acquisition Reorganization. The completion of any such Pre-Acquisition Reorganization shall be subject to the<br />
satisfaction or waiver by the Offeror of the conditions of the Offer and shall be effected prior to any take-up by the Offeror<br />
of Shares tendered to the Offer.<br />
If the Offeror does not take up and pay for the Shares tendered to the Offer, the Offeror shall indemnify Emergis and<br />
its Subsidiaries for any and all losses, costs and expenses, including reasonable legal fees and disbursements, incurred in<br />
connection with any proposed Pre-Acquisition Reorganization.<br />
Termination of Existing Discussions: Emergis has agreed to immediately cease and cause to be terminated any<br />
existing discussions or negotiation by it or any Emergis Representative with any Person other than the Offeror regarding<br />
an actual or potential Acquisition Proposal, whether or not initiated by Emergis. In connection therewith, Emergis has<br />
agreed to cease to provide any access to information concerning Emergis and its Subsidiaries, and will promptly request,<br />
in accordance with any confidentiality agreement signed with any such Person, the return or destruction of any<br />
confidential information provided to such Person, and use its commercially reasonable efforts to ensure that such<br />
requests are complied with.<br />
Non-Solicitation Obligation of Emergis: Emergis has agreed that, except as expressly permitted in the Support<br />
Agreement, it shall not, and shall cause Emergis Representatives not to, take any action of any kind which might, directly<br />
or indirectly, interfere with the successful acquisition of Shares by the Offeror pursuant to the Offer or any Compulsory<br />
Acquisition Transaction or Subsequent Acquisition Transaction, including any action to:<br />
(a) solicit, assist, initiate, or knowingly encourage or otherwise facilitate any inquiries, proposals, offers or<br />
expressions of interest regarding any actual or potential Acquisition Proposal;<br />
(b) engage in any discussions or negotiations regarding any actual or potential Acquisition Proposal or accept or<br />
enter into, or publicly propose to accept or enter into, any letter of intent, agreement in principle, agreement,<br />
arrangement or undertaking related to any Acquisition Proposal;<br />
(c) furnish or provide access to any information concerning Emergis, its Subsidiaries or their respective<br />
businesses, properties or assets to any Person in connection with or that could reasonably be expected to<br />
lead to or facilitate, an Acquisition Proposal;<br />
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