Common use of DESCRIPTION OF CLAIMS Clause in Contracts

DESCRIPTION OF CLAIMS. The universality of the present and future claims of the Debtor from any source whatsoever, including interest, dividends, and the income arising therefrom, with the right for the Creditor to benefit from the real or personal securities, whether present or future, securing such claims. Excluded therefrom are claims exempt from seizure, those resulting from the sale of the Debtor's other property by a third person in the exercice of that person's rights, and those under contracts of insurance on the Debtor's other property, the whole in accordance with sections 2668 and 2676 of the Civil Code of Québec. Also excluded therefrom are the proceeds of any possible sale, in whole or in part, of any agricultural quota.