Common use of Acknowledgements Regarding Security Bond Obligations Clause in Contracts

Acknowledgements Regarding Security Bond Obligations. For greater certainty, and without limiting the powers of the Collateral Agent hereunder or under any of the other Credit Documents, the Borrower hereby acknowledges that the Collateral Agent shall, for purposes of holding any security interest granted by any Credit Party in any of its property or assets pursuant to the laws of the Province of Quebec to secure obligations of such Credit Party under any debenture or bond (any such obligations, “Security Bond Obligations”), be the holder of an irrevocable power of attorney (fondé de pouvoir) (within the meaning of the Civil Code of Quebec, as amended) for each of the First Lien Creditors and the Senior Secured Notes Trustee (on behalf of the Second Lien Creditors) and in particular for all present and future holders of any debenture or bond (the First Lien Creditors and the Senior Secured Notes Trustee (on behalf of the Second Lien Creditors) and any such holders, collectively, the “Secured Creditor Grantors”). In accepting the benefits afforded to it hereunder, each Secured Creditor Grantor hereby constitutes, to the extent necessary, the Collateral Agent as the holder of an irrevocable power of attorney (fondé de pouvoir) (within the meaning of Article 2692 of the Civil Code of Quebec, as amended) in order to hold security granted by any Credit Party in the Province of Quebec to secure Security Bond Obligations. Each assignee of any Secured Creditor Grantor shall be deemed to have confirmed and ratified the constitution of the Collateral Agent as the holder of such irrevocable power of attorney (fondé de pouvoir) upon becoming a Lender under the Credit Agreement as contemplated in Section 11.6(b)(A) thereof or becoming a Senior Secured Noteholder in accordance with the terms of the Senior Secured Notes Indenture, as the case may be, and/or by receiving the benefits of the Collateral Documents. Notwithstanding the provisions of Section 32 of An Act Respecting the Special Powers of Legal Persons (Quebec), the Collateral Agent may acquire and be the holder of any debenture or bond. The Borrower hereby acknowledges that such debenture or bond constitutes a title of indebtedness, as such term is used in Article 2692 of the Civil Code of Quebec, as amended.

Acknowledgements Regarding Security Bond Obligations. For greater certainty, and without limiting the powers of the Collateral Agent hereunder or under any of the other Credit Documents, the Borrower hereby acknowledges that the Collateral Agent shall, for purposes of holding any security interest granted by any Credit Party in any of its property or assets pursuant to the laws of the Province of Quebec to secure obligations of such Credit Party under any debenture or bond (any such obligations, “Security Bond Obligations”"SECURITY BOND OBLIGATIONS"), be the holder of an irrevocable power of attorney (fondé de pouvoirFONDE DE POUVOIR) (within the meaning of the Civil Code of QuebecCIVIL CODE OF QUEBEC, as amended) for each of the First Lien Creditors and the Senior Secured Notes Trustee (on behalf of the Second Lien Creditors) and in particular for all present and future holders of any debenture or bond (the First Lien Creditors and the Senior Secured Notes Trustee (on behalf of the Second Lien Creditors) and any such holders, collectively, the “Secured Creditor Grantors”"SECURED CREDITOR GRANTORS"). In accepting the benefits afforded to it hereunder, each Secured Creditor Grantor hereby constitutes, to the extent necessary, the Collateral Agent as the holder of an irrevocable power of attorney (fondé de pouvoirFONDE DE POUVOIR) (within the meaning of Article 2692 of the Civil Code of QuebecCIVIL CODE OF QUEBEC, as amended) in order to hold security granted by any Credit Party in the Province of Quebec to secure Security Bond Obligations. Each assignee of any Secured Creditor Grantor shall be deemed to have confirmed and ratified the constitution of the Collateral Agent as the holder of such irrevocable power of attorney (fondé de pouvoirFONDE DE POUVOIR) upon becoming a Lender under the Credit Agreement as contemplated in Section 11.6(b)(A) thereof or becoming a Senior Secured Noteholder in accordance with the terms of the Senior Secured Notes Indenture, as the case may be, and/or by receiving the benefits of the Collateral Documents. Notwithstanding the provisions of Section 32 of An Act Respecting the Special Powers of Legal Persons AN ACT RESPECTING THE SPECIAL POWERS OF LEGAL PERSONS (Quebec), the Collateral Agent may acquire and be the holder of any debenture or bond. The Borrower hereby acknowledges that such debenture or bond constitutes a title of indebtedness, as such term is used in Article 2692 of the Civil Code of QuebecCIVIL CODE OF QUEBEC, as amended.

Acknowledgements Regarding Security Bond Obligations. For greater certainty, and without limiting the powers of the Collateral Agent hereunder or under any of the other Credit Documents, the Borrower hereby acknowledges that the Collateral Agent shall, for purposes of holding any security interest granted by any Credit Party in any of its property or assets pursuant to the laws of the Province of Quebec to secure obligations of such Credit Party under any debenture or bond (any such obligations, “Security Bond Obligations”), be the holder of an irrevocable power of attorney (fondé de pouvoir) (within the meaning of the Civil Code of Quebec, as amended) for each of the First Lien Creditors and the Senior Secured Notes Trustee (on behalf of the Second Lien Creditors) Creditor and in particular for all present and future holders of any debenture or bond (the First Lien Secured Creditors and the Senior Secured Notes Trustee (on behalf of the Second Lien Creditors) and any such holders, collectively, the “Secured Creditor Grantors”). In accepting the benefits afforded to it hereunder, each Secured Each Security Creditor Grantor hereby constitutes, to the extent necessary, the Collateral Agent as the holder of an irrevocable power of attorney (fondé de pouvoir) (within the meaning of Article 2692 of the Civil Code of Quebec, as amended) in order to hold security granted by any Credit Party in the Province of Quebec to secure Security Bond Obligations. Each assignee of any Secured Creditor Grantor shall be deemed to have confirmed and ratified the constitution of the Collateral Agent as the holder of such irrevocable power of attorney (fondé de pouvoir) upon becoming a Lender under the this Credit Agreement as contemplated in Section 11.6(b)(A) thereof or becoming a Senior Secured Noteholder in accordance with the terms of the Senior Secured Notes Indenture, as the case may be, and/or by receiving the benefits of the Collateral Documents. Notwithstanding the provisions of Section 32 of An Act Respecting the Special Powers of Legal Persons (Quebec), the Collateral Agent may acquire and be the holder of any debenture or bond. The Borrower hereby acknowledges that such debenture or bond constitutes a title of indebtedness, as such term is used in Article 2692 of the Civil Code of Quebec, as amended.

Acknowledgements Regarding Security Bond Obligations. For greater certainty, and without limiting the powers of the Collateral Agent hereunder or under any of the other Credit Documents, the Borrower hereby acknowledges that the Collateral Agent shall, for purposes of holding any security interest granted by any Credit Party in any of its property or assets pursuant to the laws of the Province of Quebec to secure obligations of such Credit Party under any debenture or bond (any such obligations, “Security Bond Obligations”"SECURITY BOND OBLIGATIONS"), be the holder of an irrevocable power of attorney (fondé de pouvoirFONDE DE POUVOIR) (within the meaning of the Civil Code of QuebecCIVIL CODE OF QUEBEC, as amended) for each of the First Lien Creditors and the Senior Secured Notes Trustee (on behalf of the Second Lien Creditors) Creditor and in particular for all present and future holders of any debenture or bond (the First Lien Secured Creditors and the Senior Secured Notes Trustee (on behalf of the Second Lien Creditors) and any such holders, collectively, the “Secured Creditor Grantors”"SECURED CREDITOR GRANTORS"). In accepting the benefits afforded to it hereunder, each Secured Each Security Creditor Grantor hereby constitutes, to the extent necessary, the Collateral Agent as the holder of an irrevocable power of attorney (fondé de pouvoirFONDE DE POUVOIR) (within the meaning of Article 2692 of the Civil Code of QuebecCIVIL CODE OF QUEBEC, as amended) in order to hold security granted by any Credit Party in the Province of Quebec to secure Security Bond Obligations. Each assignee of any Secured Creditor Grantor shall be deemed to have confirmed and ratified the constitution of the Collateral Agent as the holder of such irrevocable power of attorney (fondé de FONDE DE pouvoir) upon becoming a Lender under the this Credit Agreement as contemplated in Section 11.6(b)(A) thereof or becoming a Senior Secured Noteholder in accordance with the terms of the Senior Secured Notes Indenture, as the case may be, and/or by receiving the benefits of the Collateral Documents. Notwithstanding the provisions of Section 32 of An Act Respecting the Special Powers of Legal Persons AN ACT RESPECTING THE SPECIAL POWERS OF LEGAL PERSONS (Quebec), the Collateral Agent may acquire and be the holder of any debenture or bond. The Borrower hereby acknowledges that such debenture or bond constitutes a title of indebtedness, as such term is used in Article 2692 of the Civil Code of QuebecCIVIL CODE OF QUEBEC, as amended.