Ann: Trading Halt, page-212

Material Licence means all Permits issued by any Governmental Authority, or any applicable stock exchange or securities commission, to the Corporation and which are at any time on or after the date of this Agreement, (i) necessary or Material to the Business and operations of the Corporation (including the construction of the Facility on the Original Parcel); or (ii) designated by the Purchaser, acting reasonably, as a Material Licence, provided that the Purchaser has notified the Corporation of such designation, (iii) those Material Licences existing as of the date of this Agreement listed in Schedule D;