Hypothecary Representative. The Trustee is hereby appointed and accepts its appointment as the hypothecary representative (fondé de pouvoir) of all present and future Secured Parties as contemplated by article 2692 of the Civil Code of Quebec to enter into, to take and to hold, on behalf of and for the benefit of each of the Secured Parties, any hypothec granted on property pursuant to the laws of the Province of Quebec and to exercise such powers and duties which are conferred upon the Trustee under any deed of hypothec or herein or under any other agreement. Any Person who becomes a Secured Party will be deemed to have consented to and confirmed the Trustee as hypothecary representative and to have ratified as of the date such Person becomes a Secured Party all actions taken by the hypothecary representative. For greater certainty, the purchase of any Note by any Noteholder shall constitute ratification by such Noteholder of the appointment of the Trustee constituted hereunder and the incurrence of any debt by the Securitization Entities with the other Secured Parties pursuant to the applicable Transaction Document shall constitute such ratification by such Secured Party of such appointment constituted hereunder. The execution by the Trustee, acting as hypothecary representative, prior to the execution of this Base Indenture of any deeds of hypothec, pledges or other similar documents is hereby ratified and confirmed. Notwithstanding the provisions of Section 32 of An Act respecting the special powers of legal persons (Quebec), the Trustee may acquire and be the holder of any bond, note or other title of indebtedness issued by the Co-Issuers. The Trustee, acting as hypothecary representative for the Secured Parties, shall have the same rights, powers, immunities, indemnities and exclusions from liability as are prescribed in favor of Trustee in this Base Indenture, which shall apply mutatis mutandis. Without limitation, the provisions of the Base Indenture regarding the resignation or removal of the Trustee shall apply mutatis mutandis to the resignation or removal and appointment of a successor to the Trustee acting as hypothecary representative for the Secured Parties.
Hypothecary Representative. The Hypothecary Representative shall be appointed pursuant to the terms of the Collateral Agency Agreement for the purposes of holding the Note Security for the benefit of the Note Investors in order to secure the Company’s obligation under the Note Documents.
Hypothecary Representative. For greater certainty and without limiting the power of the Administrative Agent hereunder or under any other Loan Document, the Administrative Agent and each Lender hereby appoints and authorizes Citibank, N.A., to act as hypothecary representative within the meaning of Article 2692 of the Civil Code of Quebec (in such capacity, the “Hypothecary Representative”) of the Administrative Agent and the Lenders for the purposes of holding any security granted by any Loan Party pursuant to the laws of the Province of Quebec and to exercise such rights and duties as are conferred upon the Hypothecary Representative thereunder and under applicable laws (with the power to delegate any such rights and duties as appropriate). Citibank, N.A., the Administrative Agent and each of the Lenders xxxxxx confirms and agrees to such appointment and each Person who is or becomes the Administrative Agent or a Lender hereunder (including by its execution of an assignment and assumption agreement) shall be deemed to have consented to and ratified the foregoing appointment of the Hypothecary Representative and to have ratified all actions taken by the Hypothecary Representative prior to such date. For greater certainty, the Hypothecary Representative shall have the same rights, powers, immunities, indemnities and exclusions from liability as are prescribed in favour of the Collateral Agent in this Agreement, which shall apply mutadis mutandis. In the event of the resignation and appointment of a successor Collateral Agent (which shall include its resignation as Hypothecary Representative), such successor Collateral Agent shall also act as the Hypothecary Representative unless and until a successor hypothecary representative is otherwise appointed.
Hypothecary Representative. For greater certainty, and without limiting the powers of Agent, each member of the Lender Group and each Bank Product Provider (collectively the” Secured Parties and individually a “Secured Party”) hereby irrevocably constitutes the Agent as the hypothecary representative within the meaning of Article 2692 of the Civil Code of Quebec in order to hold hypothecs and security granted by any Loan Party on property pursuant to the laws of the Province of Québec in order to secure obligations of any Loan Party hereunder and under the other Loan Documents. The execution by the Agent, acting as hypothecary representative prior to this Agreement of any deeds of hypothec or other security documents is hereby ratified and confirmed.
Hypothecary Representative. It is understood and agreed by the parties hereto, that as part of its duties and functions, the Administrative Agent shall serve as the hypothecary representative for all present and future Secured Parties, as contemplated by Article 2692 of the Civil Code of Québec.
Hypothecary Representative. For greater certainty, and without limiting the powers of Agent, each Lender hereby irrevocably constitutes Agent as the hypothecary representative within the meaning of Article 2692 of the CCQ in order to hold hypothecs and security granted by any Loan Party on property pursuant to the laws of the Province of Québec in order to secure obligations of any Loan Party hereunder and under the other Loan Documents. The execution by Agent, acting as hypothecary representative prior to this Agreement of any deeds of hypothec or other security documents, is hereby ratified and confirmed.
Hypothecary Representative. 11.1. The Hypothecary Representative shall be appointed pursuant to the terms of the Collateral Agency Agreement for the purposes of holding the Note Security for the benefit of the Note Investors in order to secure the Company’s obligation under the Transaction Documents. The Company shall cause each Additional Investor, upon its execution of a Joinder Agreement to this Agreement, to deliver a joinder agreement to the Collateral Agency Agreement to the Hypothecary Representative.
11.2. Each Additional Investor agrees that it is and shall be bound by, and hereby assumes, all covenants, terms, conditions, obligations, duties and waivers applicable to a Note Investor under the Collateral Agency Agreement, and promptly following the entering into of the applicable Joinder Agreement, shall enter into a joinder to the Collateral Agency Agreement providing for the foregoing.
Hypothecary Representative. The Hypothecary Representative represents that it has been appointed as hypothecary representative of the Debtholders under the Collateral Agency Agreement, that it has the capacity and is authorized to enter into and deliver this Agreement on behalf of the Secured Parties and that this Agreement is binding on the Secured Parties.
Hypothecary Representative. Each Lender hereby irrevocably appoints and authorizes the Collateral Agent to act as hypothecary representative of the Secured Parties as contemplated under Article 2692 of the Civil Code of Québec, and to enter into, to take and to hold on their behalf, and for their benefit, any security, including any hypothec or other Lien, and to exercise such powers and duties that are conferred upon the Collateral Agent, as hypothecary representative, under any Credit Facility Documents. Any Person who becomes a Secured Party shall, upon becoming a Secured Party, be deemed to have consented to and confirmed the Collateral Agent as the hypothecary representative of the Secured Parties and to have ratified, as of the date it becomes a Secured Party, all actions taken by the Collateral Agent in such capacity. The substitution of the Collateral Agent pursuant to the provisions of Section 13.9 also constitutes the substitution of the Collateral Agent as hypothecary representative as aforesaid.
Hypothecary Representative. The Purchasers hereby irrevocably appoint and authorize the Collateral Agent to act as their hypothecary representative as contemplated under Article 2692 of the Civil Code of Québec, and to enter into, to take and to hold on their behalf, and for their benefit, any hypothec, and to exercise such powers and duties that are conferred upon the Collateral Agent, as hypothecary representative, under any Note Documents. To the extent that the Collateral Agent has been appointed as hypothecary representative for the Purchasers under any instrument creating security in favor of the gent by the grantor thereof, this Section 12.7 shall serve as a ratification of such appointment. The substitution of the Agent hereunder, also constitutes the substitution of the Agent as hypothecary representative as aforesaid.
