Collateral Located in Quebec. The Loan Parties will not, and will not permit any of their Subsidiaries to own tangible Collateral in Quebec having a fair market value in excess of CAD $750,000, unless the Agent has confirmed in writing that it is satisfied that the Loan Parties or Subsidiaries owning such Collateral in Quebec have taken all action that the Agent has reasonably requested in order to perfect and protect the Agent’s security interest in such Collateral under the laws of Quebec.
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Samples: Term Loan Credit Agreement (Team Inc), Term Loan Credit Agreement (Team Inc), Term Loan Credit Agreement (Team Inc)
Collateral Located in Quebec. The Loan Parties will not, and will not permit any of their Subsidiaries to own tangible Collateral in Quebec having a fair market value in excess of CAD $750,000, unless the Agent has confirmed in writing that it is satisfied that the Loan Parties or Subsidiaries owning such Collateral in Quebec have taken all action that the Agent has reasonably requested in order to perfect and protect the Agent’s security interest in such Collateral under the laws of Quebec. ARTICLE IX.
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