Sample Investment Management Agreement Page 19
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21Client Name
Date
Page 19
first person to elect a majority of the directors of the second person, unless that first
person holds the voting securities only to secure an obligation,
(ii)
the second person is a partnership, other than a limited partnership, and the first person
holds more than 50% of the interests of the partnership, or
the second person is a limited partnership and the general partner of the limited partnership is the
first person.
“director” means
(i)
a member of the board of directors of a company or an individual who performs similar
functions for a company, and
(ii)
with respect to a person that is not a company, an individual who performs functions
similar to those of a director of a company;
“eligibility adviser” means
(i)
a person that is registered as an investment dealer or in an equivalent category of
registration under the securities legislation of the jurisdiction of a purchaser and
authorized to give advice with respect to the type of security being distributed, and
(ii)
in Saskatchewan or Manitoba, also means a lawyer who is a practicing member in good
standing with a law society of a jurisdiction of Canada or a public accountant who is a
member in good standing of an institute or association of chartered accountants, certified
general accountants or certified management accountants in a jurisdiction of Canada
provided that the lawyer or public accountant must not
(1)
have a professional, business or personal relationship with the issuer, or any of its
directors, executive officers, founders, or control persons, and
(2)
have acted for or been retained personally or otherwise as an employee, executive
officer, director, associate or partner of a person that has acted for or been
retained by the issuer or any of its directors, executive officers, founders or
control persons within the previous 12 months;
“financial assets” means
(i)
cash,
(ii)
securities, or
(iii)
a contract of insurance, a deposit or an evidence of a deposit that is not a security for the
purposes of securities legislation;
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