Common use of COMMITMENTS OF THE BORROWER Clause in Contracts

COMMITMENTS OF THE BORROWER. Until the loan has been repaid in full, the Borrower shall: a) meet the conditions that made him eligible for the loan during its entire term of the loan and more particularly: a.1) if the Borrower is a natural person, he must be of full age, domiciled in Canada, a Canadian citizen or permanent resident within the meaning of the Immigration and Refugee Protection Act (R.S.C., [2001], chapter 27); a.2) if the borrower is a legal person, a general or limited partnership, it must have its head office and principal place of business in Canada; a.3) if the Borrower is an entity composed of more than one natural person, legal person, general or limited partnership or of a combination of those ones, each of them must comply with the requirements applicable to them in accordance with subparagraphs a.1) and a.2); b) not possess a wood processing plant operating permit whose authorized annual consumption is more than 2 000 cubic metres of rough timber for peeling, sawing or pulp and paper production, the Borrower expressly declaring to not possess such a permit; c) comply with every requirement and condition listed in the certificate; d) carry on the regular operations of his business; e) obtain prior authorization from La Financière agricole to validate any discharge, with or without consideration, of a surety securing the loan, to be granted subsequently by the Lender; f) obtain prior authorization from La Financière agricole to validate any taking charge of the loan; g) where the Borrower is or is formed of a general or limited partnership, a business corporation or a cooperative, obtain prior authorization from La Financière agricole to validate any amendment to the agreement under which it was formed and any disposal of the shares of a partner, the issue, allotment, transfer, redemption or repayment of shares of the business corporation, or the issue, allotment, transfer or repayment of common shares of the cooperative; h) comply with all laws, regulations and by-laws pertaining to the protection of the environment, be they federal, provincial or municipal; i) provide La Financière agricole and the Lender, at the Borrower's expense, with any information and documents deemed necessary.

COMMITMENTS OF THE BORROWER. Until the loan has been repaid in full, the Borrower shall: a) meet the conditions that made him eligible for the loan during its entire term of the loan and more particularly: a.1) if the Borrower is a natural person, he must be of full age, domiciled in Canada, a Canadian citizen or permanent resident within the meaning of the Immigration and Refugee Protection Act (R.S.C., [2001], chapter 27); a.2) if the borrower is a legal person, a general or limited partnership, it must have its head office and principal place of business in Canada; a.3) if the Borrower is an entity composed of more than one natural person, legal person, general or limited partnership or of a combination of those ones, each of them must comply with the requirements applicable to them in accordance with subparagraphs a.1) and a.2); b) not possess a wood processing plant operating permit whose authorized annual consumption is more than 2 000 cubic metres of rough timber for peeling, sawing or pulp and paper production, the Borrower expressly declaring to not possess such a permit; c) comply with every requirement and condition listed in the certificate; d) carry on the regular operations of his business; e) obtain prior authorization from La Financière agricole to validate any discharge, with or without consideration, of a surety securing the loan, to be granted subsequently by the Lender; f) obtain prior authorization from La Financière agricole to validate any taking charge of the loan; g) where the Borrower is or is formed of a general or limited partnership, a business corporation or a cooperative, obtain prior authorization from La Financière agricole to validate any amendment to the agreement under which it was formed and any disposal of the shares of a partner, the issue, allotment, transfer, redemption or repayment of shares of the business corporation, or the issue, allotment, transfer or repayment of common shares of the cooperative; h) notify the Lender and La Financière agricole as soon as civil, criminal, or penal proceedings are filed against him; i) behave in an ethical and socially responsible manner at all times; j) comply with all lawsfederal, provincial, and municipal laws and regulations, including, but not limited to, environmental, land protection, animal welfare, and labour and human rights laws and regulations, and specifically obtain, where necessary, any certificate of authorization, permit, or certification issued under these laws and regulations; take such steps as may be necessary to ensure that his business and the assets on which he has issued guarantees comply at all times with the various standards set out in these laws and regulations and by-provide the Lender and La Financière agricole, upon request, with any document that may be issued in this regard; where applicable, allow the Lender and La Financière agricole to inspect or cause to have inspected the Borrower’s business and the assets on which the Lender has issued guarantees in order to ensure compliance with the standards enacted under these laws pertaining and regulations, and, upon request, allow them access for this purpose; where applicable, notify the Lender and La Financière agricole forthwith after a judgment, notice, or order issued under such laws and regulations is served on the Borrower or is published against his assets and provide them with a copy of such judgment, notice, or order; where applicable, promptly take the necessary steps to remedy the protection defect alleged in the notice or order or, where applicable, to obtain the cancellation of their publication against his assets; take the environmentnecessary measures to ensure that the activities he performs are carried out in accordance with the various standards enacted by these laws and regulations; - in all cases, be they federalpay the costs resulting from the obligations provided for in this paragraph. The Lender may also take the necessary measures, provincial or municipalat the Borrower’s expense, to ensure that his assets comply with the standards enacted under these laws and regulations; ik) provide La Financière agricole and the Lender, at the Borrower's expense, with any information and documents deemed necessary.

COMMITMENTS OF THE BORROWER. Until the loan has been repaid in full, the Borrower shall: a) meet the conditions that made him eligible for the loan during its entire term of the loan and more particularly: a.1) if the Borrower is a natural person, he must be of full age, domiciled in Canada, a Canadian citizen or permanent resident within the meaning of the Immigration and Refugee Protection Act (R.S.C., [2001], chapter 27); a.2) if the borrower is a legal person, a general or limited partnership, it must have its head office and principal place of business in Canada; a.3) if the Borrower is an entity composed of more than one natural person, legal person, general or limited partnership or of a combination of those ones, each of them must comply with the requirements applicable to them in accordance with subparagraphs a.1) and a.2); b) not possess a wood processing plant operating permit whose authorized annual consumption is more than 2 000 cubic metres of rough timber for peeling, sawing or pulp and paper production, the Borrower expressly declaring to not possess such a permit; c) comply with every requirement and condition listed in the certificate; d) carry on the regular operations of his business; e) obtain prior authorization from La Financière agricole to validate any discharge, with or without consideration, of a surety securing the loan, to be granted subsequently by the Lender; f) obtain prior authorization from La Financière agricole to validate any taking charge of the loan; g) where the Borrower is or is formed of a general or limited partnership, a business corporation or a cooperative, obtain prior authorization from La Financière agricole to validate any amendment to the agreement under which it was formed and any disposal of the shares of a partner, the issue, allotment, transfer, redemption or repayment of shares of the business corporation, or the issue, allotment, transfer or repayment of common shares of the cooperative; hi) comply with all laws, regulations and by-laws pertaining to the protection of the environment, be they federal, provincial or municipal; i) provide La Financière agricole and the Lender, at the Borrower's expense, with any information and documents deemed necessary.