Common use of COMMITMENTS OF THE Clause in Contracts

COMMITMENTS OF THE. DEBTOR a) ensure that the hypothecated property, above, is free at all times from any priority, hypothec or charge that may rank higher than the rights of the Creditor, except, as the case may be, those stated below, and to remit to the Creditor and La Financière agricole, upon request and at his own expense, any waiver, cession of rank, discharge or release that they may deem necessary to maintain the primacy of the rights of the Creditor over the hypothecated property; b) ensure that the hypothecated property is not left vacant or abandoned, maintain it in good condition by making any necessary repairs and by operating or using it in a proper manner in order not to reduce the security of the Creditor, allow the Creditor's employees or those of La Financière agricole to inspect and appraise the property, and repay the Creditor or La Financière agricole, as the case may be, for the expenses incurred for all maintenance and repair work carried out by them and for all measures taken by virtue of the powers conferred on them under subsection 4 of the first paragraph of section 22 of the Act, if the Debtor fails to do such work within thirty (30) days of the formal notice sent by registered or certified mail to his last address known to the Creditor or La Financière agricole; c) where such is the case, pay without subrogation any taxes, assessments, apportionments, ground-rents or emphyteutic rents and other land taxes encumbering the hypothecated property, and hand over to the Creditor the receipts attesting payment thereof within fifteen (15) days of the due date; d) immediately pay to the lessor the rent of any farm operation the lease of which is required in the certificate, and pay any taxes, assessments, apportionments, and other land taxes encumbering the rented property, if such is a condition of the lease, and hand over to the Creditor the receipts attesting payment thereof within fifteen (15) days of the due date; e) obtain the prior authorization of La Financière agricole: for any servitude or other dismemberment of the right of ownership affecting the hypothecated property; for any establishment of superficies on all or part of the hypothecated property resulting from division of the object of the right of ownership of the immovable, transfer of the right of accession or renunciation of the benefit of accession; for any voluntary disposal of all or part of the hypothecated property. At La Financière agricole’s request, the Debtor undertakes to require that the purchaser assume, in whole or in part, personally and solidarily with him and, if necessary, solidarily with any co-owner, the payment of the loan as well as the obligations of the original Debtor, without novation. The Debtor undertakes to provide to the Creditor, at his own expense, a copy bearing a registration certificate, if necessary, of any deed of transfer of the property. In the case of movable property where a description has not been filed in the register of personal and movable real rights, the Debtor undertakes to provide to the Creditor, at his own expense, a certified copy of a notice of preservation of hypothec under the purchaser's name and proof that it was sent to him, registered within the time prescribed under article 2700 of the Civil Code of Québec; f) obtain prior authorization from La Financière agricole for the release by the Creditor of any Debtor or the release by the Creditor, with or without consideration, of any security taken under the present; g) obtain prior authorization from La Financière agricole before granting any lease of all or part of the hypothecated property; require in such event, where such is the case, that the lessee assume personally and solidarily with the Debtor and, as the case may be, solidarily with any co-lessee, the payment of all or part of the loan, without novation; provide to the Creditor, at the Debtor's own expense, a copy bearing a registration certificate, if required, for any deed of lease of the property and any documents required by the Creditor; not give a discharge by anticipation of more than one (1) month's rent and not lease the hypothecated property or part of it for a rent significantly lower than its rental value; h) refrain from removing outside of Québec, without the prior authorization of La Financière agricole, the hypothecated property, except, as the case may be, for the purpose of carrying on the regular operations of the Debtor and, in such a case, for a limited period of time; i) remit to the Creditor any sum collected due to the disposal, expropriation or lease of the property securing the loan, which must be applied, in all or in part, to pay the taxes or other charges owed in relation to the immovable, to pay for repair costs or to reduce his claim in capital and interest, all for the purposes and in the manner determined by La Financière agricole; j) comply with all federal, 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 provide the Creditor and La Financière agricole, upon request, with any document that may be issued in this regard; where applicable, allow the Creditor and La Financière agricole to inspect or cause to have inspected the Debtor’s business and the assets on which the Creditor has issued guarantees in order to ensure compliance with the standards enacted under these laws and regulations, and, upon request, allow them access for this purpose; where applicable, notify the Creditor and La Financière agricole forthwith after a judgment, notice, or order issued under such laws and regulations is served on the Debtor 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 defect alleged in the notice or order or, where applicable, to obtain the cancellation of their publication against his assets; take the necessary 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, pay the costs resulting from the obligations provided for in this paragraph. The Creditor may also take the necessary measures, at the Debtor’s expense, to ensure that his assets comply with the standards enacted under these laws and regulations; k) provide the Creditor and La Financière agricole, at the Debtor's expense, with all the information and documents deemed necessary.

COMMITMENTS OF THE. DEBTOR a) ensure that the hypothecated property, above, is free at all times from any priority, hypothec or charge that may rank higher than the rights of the Creditor, except, as the case may be, those stated below, and to remit to the Creditor and La Financière agricole, upon request and at his own expense, any waiver, cession of rank, discharge or release that they may deem necessary to maintain the primacy of the rights of the Creditor over the hypothecated property; b) ensure that the hypothecated property is not left vacant or abandoned, maintain it in good condition by making any necessary repairs and by operating or using it in a proper manner in order not to reduce the security of the Creditor, allow the Creditor's employees or those of La Financière agricole to inspect and appraise the property, and repay the Creditor or La Financière agricole, as the case may be, for the expenses incurred for all maintenance and repair work carried out by them and for all measures taken by virtue of the powers conferred on them under subsection 4 of the first paragraph of section 22 of the Act, if the Debtor fails to do such work within thirty (30) days of the formal notice sent by registered or certified mail to his last address known to the Creditor or La Financière agricole; c) where such is the case, pay without subrogation any taxes, assessments, apportionments, ground-rents or emphyteutic rents and other land taxes encumbering the hypothecated property, and hand over to the Creditor the receipts attesting payment thereof within fifteen (15) days of the due date; d) immediately pay to the lessor the rent of any farm operation the lease of which is required in the certificate, and pay any taxes, assessments, apportionments, and other land taxes encumbering the rented property, if such is a condition of the lease, and hand over to the Creditor the receipts attesting payment thereof within fifteen (15) days of the due date; e) obtain the prior authorization of La Financière agricole: for any servitude or other dismemberment of the right of ownership affecting the hypothecated property; for any establishment of superficies on all or part of the hypothecated property resulting from division of the object of the right of ownership of the immovable, transfer of the right of accession or renunciation of the benefit of accession; for any voluntary disposal of all or part of the hypothecated property. At La Financière agricole’s request, the Debtor undertakes to require that the purchaser assume, in whole or in part, personally and solidarily with him and, if necessary, solidarily with any co-owner, the payment of the loan as well as the obligations of the original Debtor, without novation. The Debtor undertakes to provide to the Creditor, at his own expense, a copy bearing a registration certificate, if necessary, of any deed of transfer of the property. In the case of movable property where a description has not been filed in the register of personal and movable real rights, the Debtor undertakes to provide to the Creditor, at his own expense, a certified copy of a notice of preservation of hypothec under the purchaser's name and proof that it was sent to him, registered within the time prescribed under article 2700 of the Civil Code of Québec; f) obtain prior authorization from La Financière agricole for the release by the Creditor of any Debtor or the release by the Creditor, with or without consideration, of any security taken under the present; g) obtain prior authorization from La Financière agricole before granting any lease of all or part of the hypothecated property; require in such event, where such is the case, that the lessee assume personally and solidarily with the Debtor and, as the case may be, solidarily with any co-lessee, the payment of all or part of the loan, without novation; provide to the Creditor, at the Debtor's own expense, a copy bearing a registration certificate, if required, for any deed of lease of the property and any documents required by the Creditor; not give a discharge by anticipation of more than one (1) month's rent and not lease the hypothecated property or part of it for a rent significantly lower than its rental value; h) refrain from removing outside of Québec, without the prior authorization of La Financière agricole, the hypothecated property, except, as the case may be, for the purpose of carrying on the regular operations of the Debtor and, in such a case, for a limited period of time; i) remit to the Creditor any sum collected due to the disposal, expropriation or lease of the property securing the loan, which must be applied, in all or in part, to pay the taxes or other charges owed in relation to the immovable, to pay for repair costs or to reduce his claim in capital and interest, all for the purposes and in the manner determined by La Financière agricole; j) comply with all laws, regulations or by-laws pertaining to the protection of the environment, be they federal, provincialprovincial or municipal, 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 in particular: obtain, where necessary, any certificate of authorization, permit, licence or certification authorization certificate issued under these laws and regulationslaws, regulations or by-laws; take such steps as may be all necessary measures to ensure that his business and the assets on which he has issued guarantees comply immovable is at all times in conformity with the various standards set out in these laws those laws, regulations and regulations by-laws, and provide the Creditor and La Financière agricole, upon request, with any document that may be certificate of conformity issued in this regardfor such purpose; where applicable, allow the Creditor and La Financière agricole to inspect or cause to have the building inspected the Debtor’s business and the assets on which the Creditor has issued guarantees in order to ensure compliance with of environmental standards and allow them access to the standards enacted under these laws and regulations, andimmovable for this purpose, upon request, allow them access for this purpose; where applicable, notify the Creditor and La Financière agricole forthwith after as soon as a judgment, notice, notice or an order issued under in accordance with such laws, regulations or by-laws and regulations is served on him or registered against the Debtor or is published against his assets immovable and provide them with a copy of such judgment, notice, notice or order; where applicable, promptly immediately take all the necessary steps measures to remedy the defect alleged default specified in the notice or order oror to obtain, where applicableas the case may be, to obtain the cancellation cancelling of their publication the claim against the immovable; notify the Creditor and La Financière agricole as soon as civil or criminal proceedings are instituted against him because he did not fulfil his assetsenvironmental obligations; take the necessary measures to ensure that the his activities he performs are carried out in accordance compliance with the various standards enacted by these laws stipulated in those laws, regulations and regulationsby-laws; - pay, in all cases, pay the costs resulting from the obligations provided for set out in this paragraph. The Creditor may may, also take the necessary measures, at the expense of the Debtor’s expense, take all necessary measures to ensure that his assets comply the immovable complies with the standards enacted under these laws and regulationsenvironmental standards; k) provide the Creditor and La Financière agricole, at the Debtor's expense, with all the information and documents deemed necessary.

COMMITMENTS OF THE. DEBTOR a) ensure that the hypothecated property, above, is free at all times from any priority, hypothec or charge that may rank higher than the rights of the Creditor, except, as the case may be, those stated below, and to remit to the Creditor and La Financière agricole, upon request and at his own expense, any waiver, cession of rank, discharge or release that they may deem necessary to maintain the primacy of the rights of the Creditor over the hypothecated property; b) ensure that the hypothecated property is not left vacant or abandoned, maintain it in good condition by making any necessary repairs and by operating or using it in a proper manner in order not to reduce the security of the Creditor, allow the Creditor's employees or those of La Financière agricole to inspect and appraise the property, and repay the Creditor or La Financière agricole, as the case may be, for the expenses incurred for all maintenance and repair work carried out by them and for all measures taken by virtue of the powers conferred on them under subsection 4 of the first paragraph of section 22 of the ActAct respecting La Financière agricole du Québec (R.S.Q., chapter L‑0.1), if the Debtor fails to do such work within thirty (30) days of the formal notice sent by registered or certified mail to his last address known to the Creditor or La Financière agricole; c) where such is the case, pay without subrogation any taxes, assessments, apportionments, ground-rents or emphyteutic rents and other land taxes encumbering the hypothecated property, and hand over to the Creditor the receipts attesting payment thereof within fifteen (15) days of the due date; d) immediately pay to the lessor the rent of any farm operation the lease of which is required in the certificate, and pay any taxes, assessments, apportionments, and other land taxes encumbering the rented property, if such is a condition of the lease, and hand over to the Creditor the receipts attesting payment thereof within fifteen (15) days of the due date; e) obtain the prior authorization of La Financière agricole: for any servitude or other dismemberment of the right of ownership affecting the hypothecated property; for any establishment of superficies on all or part of the hypothecated property resulting from division of the object of the right of ownership of the immovable, transfer of the right of accession or renunciation of the benefit of accession; for any voluntary disposal of all or part of the hypothecated property. At La Financière agricole’s request, the Debtor undertakes to require that the purchaser assume, in whole or in part, personally and solidarily with him and, if necessary, solidarily with any co-owner, the payment of the loan as well as the obligations of the original Debtor, without novation. The Debtor undertakes to provide to the Creditor, at his own expense, a copy bearing a registration certificate, if necessary, of any deed of transfer of the property. In the case of movable property where a description has not been filed in the register of personal and movable real rights, the Debtor undertakes to provide to the Creditor, at his own expense, a certified copy of a notice of preservation of hypothec under the purchaser's name and proof that it was sent to him, registered within the time prescribed under article 2700 of the Civil Code of Québec; f) obtain prior authorization from La Financière agricole for the release by the Creditor of any Debtor or the release by the Creditor, with or without consideration, of any security taken under the present; g) obtain prior authorization from La Financière agricole before granting any lease of all or part of the hypothecated property; require in such event, where such is the case, that the lessee assume personally and solidarily with the Debtor and, as the case may be, solidarily with any co-lessee, the payment of all or part of the loan, without novation; provide to the Creditor, at the Debtor's own expense, a copy bearing a registration certificate, if required, for any deed of lease of the property and any documents required by the Creditor; not give a discharge by anticipation of more than one (1) month's rent and not lease the hypothecated property or part of it for a rent significantly lower than its rental value; h) refrain from removing outside of Québec, without the prior authorization of La Financière agricole, the hypothecated property, except, as the case may be, for the purpose of carrying on the regular operations of the Debtor and, in such a case, for a limited period of time; i) remit to the Creditor any sum collected due to the disposal, expropriation or lease of the property securing the loan, which must be applied, in all or in part, to pay the taxes or other charges owed in relation to the immovable, to pay for repair costs or to reduce his claim in capital and interest, all for the purposes and in the manner determined by La Financière agricole; j) register with the Minister of Natural Resources and Wildlife, or with any person or organization designated for such purpose by the Minister, any forest area of the hypothecated property, obtain for which a forest management plan and, if he made timber felling on the hypothecated property, respect the recommendations of the plan concerning maximum timber felling; k) comply with all laws, regulations or by-laws, be they federal, provincialprovincial or municipal, pertaining the timber felling and the standards of harvest and felling, and municipal in particular obtain any permit issued under these laws, regulations or by-laws; l) comply with all laws, regulations or by-laws and regulationspertaining to the protection of the environment, includingbe they federal, but not limited to, environmental, land protection, animal welfareprovincial or municipal, and labour and human rights laws and regulations, and specifically in particular: - obtain, where necessary, any certificate of authorization, permit, licence or certification authorization certificate issued under these laws and regulationslaws, regulations or by-laws; - take such steps as may be all necessary measures to ensure that his business and the assets on which he has issued guarantees comply immovable is at all times in conformity with the various standards set out in these laws those laws, regulations and regulations by-laws, and provide the Creditor and La Financière agricole, upon request, with any document that may be certificate of conformity issued in this regardfor such purpose; where applicable, - allow the Creditor and La Financière agricole to inspect or cause to have the building inspected the Debtor’s business and the assets on which the Creditor has issued guarantees in order to ensure compliance with of environmental standards and allow them access to the standards enacted under these laws and regulations, andimmovable for this purpose, upon request, allow them access for this purpose; where applicable, - notify the Creditor and La Financière agricole forthwith after as soon as a judgment, notice, notice or an order issued under in accordance with such laws, regulations or by-laws and regulations is served on him or registered against the Debtor or is published against his assets immovable and provide them with a copy of such judgment, notice, notice or order; where applicable, promptly - immediately take all the necessary steps measures to remedy the defect alleged default specified in the notice or order oror to obtain, where applicableas the case may be, to obtain the cancellation cancelling of their publication the claim against the immovable; - notify the Creditor and La Financière agricole as soon as civil or criminal proceedings are instituted against him because he did not fulfil his assetsenvironmental obligations; - take the necessary measures to ensure that the his activities he performs are carried out in accordance compliance with the various standards enacted by these laws stipulated in those laws, regulations and regulationsby-laws; - pay, in all cases, pay the costs resulting from the obligations provided for set out in this paragraph. The Creditor may may, also take the necessary measures, at the expense of the Debtor’s expense, take all necessary measures to ensure that his assets comply the immovable complies with the standards enacted under these laws and regulationsenvironmental standards; km) provide the Creditor and La Financière agricole, at the Debtor's expense, with all the information and documents deemed necessary.

COMMITMENTS OF THE. DEBTOR a) ensure that the hypothecated property, above, is free at all times from any priority, hypothec or charge that may rank higher than the rights of the Creditor, except, as the case may be, those stated below, and to remit to the Creditor and La Financière agricole, upon request and at his own expense, any waiver, cession of rank, discharge or release that they may deem necessary to maintain the primacy of the rights of the Creditor over the hypothecated property; b) ensure that the hypothecated property is not left vacant or abandoned, maintain it in good condition by making any necessary repairs and by operating or using it in a proper manner in order not to reduce the security of the Creditor, allow the Creditor's employees or those of La Financière agricole to inspect and appraise the property, and repay the Creditor or La Financière agricole, as the case may be, for the expenses incurred for all maintenance and repair work carried out by them and for all measures taken by virtue of the powers conferred on them under subsection 4 of the first paragraph of section 22 of the ActAct respecting La Financière agricole du Québec (R.S.Q., chapter L‑0.1), if the Debtor fails to do such work within thirty (30) days of the formal notice sent by registered or certified mail to his last address known to the Creditor or La Financière agricole; c) where such is the case, pay without subrogation any taxes, assessments, apportionments, ground-rents or emphyteutic rents and other land taxes encumbering the hypothecated property, and hand over to the Creditor the receipts attesting payment thereof within fifteen (15) days of the due date; d) immediately pay to the lessor the rent of any farm operation the lease of which is required in the certificate, and pay any taxes, assessments, apportionments, and other land taxes encumbering the rented property, if such is a condition of the lease, and hand over to the Creditor the receipts attesting payment thereof within fifteen (15) days of the due date; e) obtain the prior authorization of La Financière agricole: for any servitude or other dismemberment of the right of ownership affecting the hypothecated property; for any establishment of superficies on all or part of the hypothecated property resulting from division of the object of the right of ownership of the immovable, transfer of the right of accession or renunciation of the benefit of accession; for any voluntary disposal of all or part of the hypothecated property. At La Financière agricole’s request, the Debtor undertakes to require that the purchaser assume, in whole or in part, personally and solidarily with him and, if necessary, solidarily with any co-owner, the payment of the loan as well as the obligations of the original Debtor, without novation. The Debtor undertakes to provide to the Creditor, at his own expense, a copy bearing a registration certificate, if necessary, of any deed of transfer of the property. In the case of movable property where a description has not been filed in the register of personal and movable real rights, the Debtor undertakes to provide to the Creditor, at his own expense, a certified copy of a notice of preservation of hypothec under the purchaser's name and proof that it was sent to him, registered within the time prescribed under article 2700 of the Civil Code of Québec; f) obtain prior authorization from La Financière agricole for the release by the Creditor of any Debtor or the release by the Creditor, with or without consideration, of any security taken under the present; g) obtain prior authorization from La Financière agricole before granting any lease of all or part of the hypothecated property; require in such event, where such is the case, that the lessee assume personally and solidarily with the Debtor and, as the case may be, solidarily with any co-lessee, the payment of all or part of the loan, without novation; provide to the Creditor, at the Debtor's own expense, a copy bearing a registration certificate, if required, for any deed of lease of the property and any documents required by the Creditor; not give a discharge by anticipation of more than one (1) month's rent and not lease the hypothecated property or part of it for a rent significantly lower than its rental value; h) refrain from removing outside of Québec, without the prior authorization of La Financière agricole, the hypothecated property, except, as the case may be, for the purpose of carrying on the regular operations of the Debtor and, in such a case, for a limited period of time; i) remit to the Creditor any sum collected due to the disposal, expropriation or lease of the property securing the loan, which must be applied, in all or in part, to pay the taxes or other charges owed in relation to the immovable, to pay for repair costs or to reduce his claim in capital and interest, all for the purposes and in the manner determined by La Financière agricole; j) register with the Minister of Natural Resources and Wildlife, or with any person or organization designated for such purpose by the Minister, any forest area of the hypothecated property, obtain for which a forest management plan and, if he made timber felling on the hypothecated property, respect the recommendations of the plan concerning maximum timber felling; k) comply with all laws, regulations or by-laws, be they federal, provincial or municipal, pertaining the timber felling and the standards of harvest and felling, and in particular obtain any permit issued under these laws, regulations or by-laws; l) comply with all federal, 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 provide the Creditor and La Financière agricole, upon request, with any document that may be issued in this regard; where applicable, allow the Creditor and La Financière agricole to inspect or cause to have inspected the Debtor’s business and the assets on which the Creditor has issued guarantees in order to ensure compliance with the standards enacted under these laws and regulations, and, upon request, allow them access for this purpose; where applicable, notify the Creditor and La Financière agricole forthwith after a judgment, notice, or order issued under such laws and regulations is served on the Debtor 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 defect alleged in the notice or order or, where applicable, to obtain the cancellation of their publication against his assets; take the necessary 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, pay the costs resulting from the obligations provided for in this paragraph. The Creditor may also take the necessary measures, at the Debtor’s expense, to ensure that his assets comply with the standards enacted under these laws and regulations; km) provide the Creditor and La Financière agricole, at the Debtor's expense, with all the information and documents deemed necessary.