Quebec Liens (Hypothecs). For the purposes of holding any Liens (hypothecs) granted by any Obligor pursuant to any Quebec law governed Canadian Security Documents that secure the payment of all indebtedness, liabilities and other obligations, present and future, owed by an Obligor to the Agent and Secured Parties hereunder and under the other Loan Documents, the Secured Parties hereby appoint the Agent as hypothecary representative for all purposes of Article 2692 of the Civil Code of Québec, and, more specifically, all present and future Secured Parties. Each Secured Party therefore appoints the Agent as its hypothecary representative to hold the Liens created pursuant to such Quebec law governed Canadian Security Documents in order to secure the indebtedness, liabilities and other obligations, present and future, owed by an Obligor to the Agent and such Secured Parties hereunder and under the other Loan Documents. By executing an Assignment and Acceptance, each future Secured Party shall be deemed to ratify the appointment of the Agent as hypothecary representative hereunder. The substitution of the Agent pursuant to the provisions of this Section 11 shall also constitute the substitution of the Agent as hypothecary representative hereunder.
Appears in 4 contracts
Samples: Credit and Guaranty Agreement (Milacron Holdings Corp.), Amendment No. 1 (Milacron Holdings Corp.), Amendment No. 2 (Milacron Holdings Corp.)
