HomeMy WebLinkAboutBy-law 6158/03THE CORPORATION OF THE CITY OF PICKERING
BY-LAW NO. 61 58 /03
Being a by-law to approve and authorize the execution of an amendment
made as of the 12th day of June, 2003 to the shareholders' agreement
made as of the 28th day of September, 2001 amongst The Corporation of
the Town of Ajax, The Corporation of the City of Belleville, The
Municipality of Clarington, The Corporation of the City of Pickering,
Veridian Corporation, Veridian Connections Inc. and Veridian Energy Inc.
WHEREAS The Corporation of the Town of Ajax ("Ajax"), The Corporation of the City of
Belleville ("Belleville"), The Municipality of Clarington ("Clarington") and The Corporation
of the City of Pickering ("Pickering") entered into a shareholders' agreement (the
"Shareholders' Agreement") made as of the 28th day of September, 2001 with Veridian
Corporation, Veridian Connections Inc. and Veridian Energy Inc.;
AND WHEREAS the parties to the Shareholders' Agreement wish to amend the same
to (a) provide that the chair and vice-chair of Veridian Corporation may be any one of
the nominees to its board; and (b) remove the provisions relating to an executive
committee of Veridian Corporation;
NOW THEREFORE THE COUNCIL OF THE CORPORATIONOF THE CITY OF
PICKERING ENACTS AS FOLLOWS:
That Council authorizes and approves the first amending agreement to the
Shareholders' Agreement (the "First Amending Agreement") made as of the 12th
day of June, 2003 amongst Ajax, Belleville, Clarington and Pickering, as the
shareholders of Veridian Corporation, and Veridian Corporation, Veridian
Connections Inc. and Veridian Energy Inc. in the form of the draft agreement
presented to Council and attached hereto as Schedule "A".
That the Mayor and the Clerk are authorized to execute the First Amending
Agreement.
That the Clerk is authorized to affix the Corporate Seal of The Corporation of the
City of Pickering to the First Amending Agreement.
By-law read a first, second and third time and finally passed this 23rd day of June, 2003
Wayne Arth'urs, Ma,,zor
Bruce Taylor, Clerk