v R - if there are things to be agreed upon then there is no contract or Lambert, writing for the majority, held there were two courses of action:
Was the clause void either because of uncertainty or because it was an agreement to agree?. Scotiabank was successful at trial, which Empress Towers appealed. Empress Towers sought a writ of possession. On August 31 Empress Towers responded stating Scotiabank would be allowed to stay if they made a payment of $15,000 before September 15 (an employee of Empress Towers had been robbed of $30,000 in that branch of the bank and only $15,000 of insurance was paid) and rent of $5,400 per month thereafter, and that tenancy would be terminable on 90 days notice going forward. On JScotiabank proposed a rate of $5,400 a month, up from $3,097.92 under the existing lease, but they received no written reply from Empress Towers. On Scotiabank exercised its option to renew for a further 5 years from September 1, 1989. In 1984, the parties entered into a new lease which contained the clause stating Scotiabank could renew for two successive periods of five years each provided it gave three months written notice, and the "rental for any renewal period, which shall be the market rental prevailing at the commencement of that renewal term as mutually agreed between the Landlord and the Tenant". With a team of approximately 90,000 employees and assets of approximately $1.2 trillion (as at October 31, 2021), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS).In 1972, Scotiabank first leased property from Empress Towers - this lease expired in 1984. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. Scotiabank is a Leading Bank in the Americas. This transaction supports Scotiabank's strategic focus on operations across its footprint where it can achieve greater scale and deliver the highest value for customers. The transaction will add approximately CAD 35 million per quarter to the Bank's earnings and be immediately accretive to earnings per share. On closing the Bank will pay CAD 650 million in cash and issue 7 million shares to Grupo Said impacting Scotiabank's Common Equity Tier 1 capital ratio by approximately 10 basis points. 
The transaction is valued at approximately CAD 1.3 billion. "Our long-standing relationship with the Said family will remain a significant benefit to us as we build on our momentum in Chile over the coming years."
"Today's announcement enables us to achieve even greater scale and deliver the highest value for customers, further strengthening our position as a Leading Bank in the Americas," said Brian Porter, President and CEO, Scotiabank.
The transaction is subject to customary closing conditions and regulatory approvals.
28, 2022 /CNW/ - The Bank of Nova Scotia ("Scotiabank" or the "Bank") announced today that it has reached an agreement to acquire Grupo Said's remaining 16.8% stake in Scotiabank Chile increasing its ownership in the Chilean entity to 99.8%.
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