Common use of Quebec Matters Clause in Contracts

Quebec Matters. For the purposes of holding any security granted by any Loan Party pursuant to the laws of the Province of Quebec to secure payment of any debenture or bond issued by any Loan Party, Collateral Agent is hereby appointed to act as the person holding the power of attorney (fondé de pouvoir) pursuant to article 2692 of the Civil Code of Quebec to act on behalf of each of the debentureholders or bondholders (as applicable), initially namely JPMorgan Chase Bank, N.A. in its capacity as Collateral Agent for the Secured Parties. Each Person who is or becomes a Lender and each assignee holder of any debenture or bonds issued by any Loan Party shall be deemed to ratify the power of attorney (fondé de pouvoir) granted to Collateral Agent hereunder by its execution of an Assignment and Assumption. The Collateral Agent agrees to act in such capacity. Each party hereto agrees that, notwithstanding Section 32 of An Act respecting the special powers of legal persons (Quebec), the Collateral Agent shall also be entitled to act as a debentureholder or bondholder (as applicable) and to acquire and/or to hold on behalf of the Secured Parties any debentures, bonds or other titles of indebtedness to be issued under any deed of hypothec executed by or on behalf of any Loan Party. For greater certainty, the Collateral Agent, acting as the holder of an irrevocable power of attorney (fondé de pouvoir), shall have the same rights, powers, immunities, indemnities and exclusions from liability as are prescribed in favor of the Collateral Agent in this Agreement, which shall apply mutatis mutandis. In the event of the resignation and appointment of a successor Collateral Agent, such successor Collateral Agent shall also act as the holder of an irrevocable power of attorney (fondé de pouvoir).

Quebec Matters. For the purposes of holding any the grant of security granted by any Loan Party pursuant to under the laws of the Province of Quebec to secure payment of any debenture which may now or bond issued in the future be granted or provided by any Loan Party, Collateral each of the Lenders (including in its capacity as a potential Hedge Bank, Cash Management Bank or PBLOC Bank) and the L/C Issuer hereby authorizes and appoints the Administrative Agent is hereby appointed to act as the person holding the holder of an irrevocable power of attorney (fondé de pouvoir) pursuant to article (within the meaning of Article 2692 of the Civil Code of Quebec Quebec) in order to act on behalf of each hold any hypothec granted under the laws of the debentureholders Province of Quebec as security for any debenture, bond or bondholders (as applicable), initially namely JPMorgan Chase Bank, N.A. in its capacity as Collateral Agent for the Secured Parties. Each Person who is or becomes a Lender and each assignee holder other title of any debenture or bonds indebtedness that may be issued by any Loan Party shall be deemed pursuant to ratify a deed of hypothec and to exercise such rights and duties as are conferred upon a fondé de pouvoir under the relevant deed of hypothec and applicable laws (with the power to delegate any such rights or duties). Moreover, in respect of attorney (fondé de pouvoir) granted any pledge by any such Loan Party of any such debenture, bond or other title of indebtedness, as security for any Obligations the Administrative Agent shall also be authorized to Collateral Agent hereunder by hold such debenture, bond or other title of indebtedness as agent and pledgee for its execution own account and for the benefit of an Assignment and Assumption. The Collateral Agent agrees to act in such capacity. Each party hereto agrees thatany of the other Secured Parties, the whole notwithstanding the provisions of Section 32 of An Act respecting the special powers Special Powers of legal persons Legal Persons (Quebec). Any person who becomes a Secured Party under this Agreement shall be deemed to have consented to and ratified the foregoing appointment of the Administrative Agent as fondé de pouvoir, the Collateral Agent shall also be entitled to act and as a debentureholder or bondholder (as applicable) agent and to acquire and/or to hold mandatary on behalf of the relevant Secured Parties any debentures, bonds or other titles of indebtedness to be issued under any deed of hypothec executed by or on behalf of any Loan PartyParties. For greater certainty, the Collateral Administrative Agent, acting as the holder of an irrevocable power of attorney (fondé de pouvoir), shall have the same rights, powers, immunities, indemnities and exclusions from liability as are prescribed in favor of the Collateral Administrative Agent in this Agreement, which shall apply mutatis mutandis. In the event of the resignation and appointment of a successor Collateral AgentAdministrative Agent under this Agreement, such successor Collateral Administrative Agent shall also act as the holder of an irrevocable power of attorney (fondé de pouvoir).

Quebec Matters. For the purposes of holding any the grant of security granted by any Loan Party pursuant to under the laws of the Province of Quebec to secure payment of any debenture which may now or bond issued in the future be granted or provided by any Loan Party, Collateral each of the Lenders (including in its capacity as a potential Hedge Bank or Cash Management Bank) and the L/C Issuer hereby authorizes and appoints the Administrative Agent is hereby appointed to act as the person holding the holder of an irrevocable power of attorney (fondé de pouvoir) pursuant to article (within the meaning of Article 2692 of the Civil Code of Quebec Quebec) in order to act on behalf of each hold any hypothec granted under the laws of the debentureholders Province of Quebec as security for any debenture, bond or bondholders (as applicable), initially namely JPMorgan Chase Bank, N.A. in its capacity as Collateral Agent for the Secured Parties. Each Person who is or becomes a Lender and each assignee holder other title of any debenture or bonds indebtedness that may be issued by any Loan Party shall be deemed pursuant to ratify a deed of hypothec and to exercise such rights and duties as are conferred upon a fondé de pouvoir under the relevant deed of hypothec and applicable laws (with the power to delegate any such rights or duties). Moreover, in respect of attorney (fondé de pouvoir) granted any pledge by any such Loan Party of any such debenture, bond or other title of indebtedness, as security for any Obligations the Administrative Agent shall also be authorized to Collateral Agent hereunder by hold such debenture, bond or other title of indebtedness as agent and pledgee for its execution own account and for the benefit of an Assignment and Assumption. The Collateral Agent agrees to act in such capacity. Each party hereto agrees thatany of the other Secured Parties, the whole notwithstanding the provisions of Section 32 of An Act respecting the special powers Special Powers of legal persons Legal Persons (Quebec). Any person who becomes a Secured Party under this Agreement shall be deemed to have consented to and ratified the foregoing appointment of the Administrative Agent as fondé de pouvoir, the Collateral Agent shall also be entitled to act and as a debentureholder or bondholder (as applicable) agent and to acquire and/or to hold mandatary on behalf of the relevant Secured Parties any debentures, bonds or other titles of indebtedness to be issued under any deed of hypothec executed by or on behalf of any Loan PartyParties. For greater certainty, the Collateral Administrative Agent, acting as the holder of an irrevocable power of attorney (fondé de pouvoir), shall have the same rights, powers, immunities, indemnities and exclusions from liability as are prescribed in favor of the Collateral Administrative Agent in this Agreement, which shall apply mutatis mutandis. In the event of the resignation and appointment of a successor Collateral AgentAdministrative Agent under this Agreement, such successor Collateral Administrative Agent shall also act as the holder of an irrevocable power of attorney (fondé de pouvoir).