Quebec Hypothecary Representative. Without limiting the powers of the Agent (and as part of its duties) hereunder or under the other Loan Documents and to the extent applicable, the Borrower (on its own behalf and on behalf of each Secured Subsidiary) and the Lenders hereby acknowledge that the Agent will, for the purposes of holding any security granted under the Deeds of Hypothec be the hypothecary representative (within the meaning of Article 2692 of the Civil Code of Québec) for all present and future Lenders. Each of the Lenders and the other Secured Parties hereby constitutes, to the extent necessary, the Agent as its hypothecary representative in order to hold Liens granted under such hypothecs. Each Person who becomes a Lender after the Facilities Initial Establishment Date will be deemed to have confirmed and ratified the constitution of the Agent as its hypothecary representative. Any Person who is not a Lender and who is entitled to benefit from the Liens created by the Security Documents will be deemed to have accepted the constitution of the Agent as its hypothecary representative. The execution, if applicable, prior to the Facilities Initial Establishment Date by the Agent, in its capacity as hypothecary representative for and on behalf of the Lenders of the hypothecs comprised within the Security is hereby ratified and confirmed. For the avoidance of doubt, the Agent, acting as hypothecary representative, shall have the same rights, powers, immunities, indemnities and exclusions from liability as are prescribed in favor of the Agent in this Agreement, which shall apply mutatis mutandis. In the event of the resignation of the Agent (which shall include its resignation as hypothecary representative) and appointment of a successor Agent, such successor Agent shall also act as hypothecary representative, as contemplated above.
Quebec Hypothecary Representative. Without limiting the powers of the Collateral Agent, for the purposes of holding any hypothec granted pursuant to the laws of the Province of Quebec to secure the prompt payment and performance of any and all Obligations by any Loan Party, each of the Secured Parties hereby irrevocably appoints and authorizes the Collateral Agent and, to the extent necessary, ratifies the appointment and authorization of the Collateral Agent, to act as the hypothecary representative of the present and future Secured Parties as contemplated under Article 2692 of the Civil Code of Québec (in such capacity, the “Attorney”), 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 Attorney under any related deed of hypothec and applicable law. The Attorney shall: (a) have the sole and exclusive right and authority to exercise, except as may be otherwise specifically restricted by the terms hereof, all rights and remedies given to the Attorney pursuant to any such deed of hypothec and applicable law, and
