Common use of Quebec Hypothecary Representative Clause in Contracts

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 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 Closing 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 Closing 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 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 For the purposes of holding the hypothecs which may now or in the future be required to be provided by any security granted Obligor under the Deeds laws of Hypothec be the Province of Quebec, each of the Noteholders hereby irrevocably authorizes, appoints and designates each Indenture Trustee (and successor thereto) to act as the hypothecary representative (“fondé de pouvoir”) within the meaning of Article 2692 of the Civil Code of Québec) Quebec for all present and future Lenders. Each Noteholders and other creditors of the Lenders and Obligations (in such capacity the other Secured Parties hereby constitutes, to the extent necessary, the Agent as its hypothecary representative “Hypothecary Representative”) in order to hold Liens any hypothec 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 laws of the Agent Province of Quebec as its hypothecary representative. Any Person who is not a Lender security for the Obligations and who is entitled to benefit from exercise such rights and duties as are conferred upon the Liens created by Hypothecary Representative under the Security Documents will be deemed relevant deed of hypothec and applicable laws (with the power to have accepted the constitution of the Agent as its hypothecary representativedelegate any such rights or duties). The execution, if applicable, execution prior to the Facilities Initial Establishment Date date hereof by the Agent, Indenture Trustee in its capacity as hypothecary representative for and on behalf the Hypothecary Representative of any deed of hypothec or other security documents made pursuant to the laws of the Lenders Province of the hypothecs comprised within the Security Quebec is hereby ratified and confirmed. Any Person who becomes a Noteholder or other creditor of the Obligations shall be deemed to have consented to and ratified the foregoing appointment of the Indenture Trustee as the Hypothecary Representative on behalf of all Noteholders and other creditors of the Obligations. For the avoidance of doubtgreater certainty, the Agent, Indenture Trustee acting as hypothecary representativethe Hypothecary Representative, shall have the same rights, powers, immunities, indemnities and exclusions from liability as are prescribed in favor favour of the Agent Indenture Trustee in this AgreementIndenture, which shall apply mutatis mutandis. In the event of the resignation of the Agent Indenture Trustee (which shall include its resignation as hypothecary representativeHypothecary Representative) and appointment of a successor AgentIndenture Trustee, such successor Agent Indenture Trustee shall also act as hypothecary representativethe Hypothecary Representative on behalf of the Noteholders and other creditors of the Obligations, as contemplated above.. Each such successor Indenture Trustee without further act or formality (other than the filing of a notice of replacement in the applicable register in accordance with Article 2692 of the Civil Code of Québec for the purposes of exercising the rights relating to any hypothec) shall automatically become the successor Hypothecary Representative under each then existing deed of hypothec. Notwithstanding anything to the contrary, this provision shall be governed and construed under the internal laws of the Province of Quebec. 138