The plaintiffs in a class proceeding brought a motion to determine whether a 'loan forgiveness' benefit under a settlement agreement was triggered.
The benefit was payable if there was no Approved Emissions Modification (AEM) by June 15, 2017.
The US EPA approved a fix on May 19, 2017, but it was not implemented in Canada until June 23, 2017.
The court held that the definition of AEM, which required the fix to be 'implementable in Canada', meant available within a reasonable time, not immediately available.
Therefore, the AEM existed by the deadline and the loan forgiveness benefit was not triggered.