POSTPONEMENT OF DEBTS. All debts and liabilities, present and future, of the Borrower to the Guarantor are hereby assigned to the Lender and postponed to the payment and performance in full of the Obligations, and all monies received by the Guarantor in respect thereof shall be received in trust for the Lender or, in the Province of Quebec, as agent for the Lender and forthwith upon receipt shall be paid over to the Lender, the whole without in any way lessening or limiting the liability of the Guarantor under this Agreement. This assignment and postponement is independent of the guarantee herein and shall remain in full force and effect until the Lender has received payment and performance in full of all Obligations, notwithstanding that the liability of the Guarantor under the guarantee herein may have been discharged or terminated.
POSTPONEMENT OF DEBTS. AND GUARANTOR NOT TO COMPETE
POSTPONEMENT OF DEBTS. All liabilities and indebtedness, present and future, absolute or contingent, of the Borrower to the Guarantor, and of any other guarantor or Person liable directly or as surety for the Guaranteed Obligations or any part thereof, are hereby assigned to the Investor and postponed to the payment and performance in full of the Guaranteed Obligations, the Indemnified Amounts and all other amounts payable hereunder and all monies received by the Guarantor in respect thereof shall be received in trust for the Investor or, in the Province of Quebec, as agent for the Investor and forthwith upon receipt shall be paid over to the Investor, the whole without in any way lessening or limiting the liability of the Guarantor under this Agreement. Such assignment and postponement is independent of the guarantee and indemnity herein and shall remain in full force and effect until the Investor has received payment and performance in full of all Guaranteed Obligations, all Indemnified Amounts and all other amounts payable hereunder, notwithstanding that the liability of the Guarantor under the guarantee and indemnity herein may have been discharged or terminated.
POSTPONEMENT OF DEBTS. Upon the occurrence and during the continuation of an Event of Default, all liabilities and indebtedness, present and future, absolute or contingent, of the Company to the Guarantor are hereby postponed to the payment and performance in full of the Obligations and all other amounts payable hereunder and all monies received by the Guarantor in respect thereof shall be received in trust for the Noteholders and forthwith upon receipt shall be paid over to the Collateral Agent, the whole without in any way lessening or limiting the liability of the Guarantor under this Agreement except to the extent of monies so paid. Such postponement is independent of the guarantee herein and shall remain in full force and effect until the Collateral Agent has received payment and performance in full of all Obligations and all other amounts payable hereunder.
