Common use of Quebec Security Documents Clause in Contracts

Quebec Security Documents. (a) Without limiting the powers of Agent or any other Person acting as an agent or mandatary for Agent hereunder or under any other Financing Agreements, each Borrower and Guarantor hereby acknowledges that, for purposes of holding any hypothecs and security granted by such Borrower or Guarantor on property pursuant to the laws of the Province of Quebec to secure obligations of such Borrower or Guarantor under any debenture or bond issued by such Borrower or Guarantor, Agent shall be the holder of an irrevocable power of attorney (fondé de pouvoir) (within the meaning of the Civil Code of Quebec) for the Secured Parties, including without limitation, all present and future Lenders and any Affiliate of a Lender, and in particular for all present and future holders of any such debenture or bond. The Secured Parties hereby: (i) irrevocably constitute, to the extent necessary, Agent as the holder of an irrevocable power of attorney (fondé de pouvoir) (within the meaning of Article 2692 of the Civil Code of Quebec) in order to hold hypothecs and security granted by a Borrower or Guarantor on property pursuant to the laws of the Province of Quebec to secure the obligations of such Borrower or Guarantor under any debenture or bond issued by such Borrower or Guarantor; and (ii) appoint and agree that Agent may act as the bondholder and mandatary (i.e. agent) with respect to any debenture or bond that may be issued by a Borrower or Guarantor and pledged in its favor from time to time. The execution by Agent, acting as fondé de pouvoir and mandatary, prior to this Agreement, of any deeds of hypothec or other security documents is hereby ratified and confirmed.

Quebec Security Documents. (a) Without limiting the powers of Agent or any other Person acting as an agent or mandatary for Agent hereunder or under any other Financing Agreements, each Borrower and Guarantor hereby acknowledges that, for purposes of holding any hypothecs and security granted by such Borrower or Guarantor on property pursuant to the laws of the Province of Quebec to secure obligations of such Borrower or Guarantor under any debenture or bond issued by such Borrower or Guarantor, Agent shall be the holder of an irrevocable power of attorney (fondé de pouvoir) (within the meaning of the Civil Code of Quebec) for the Secured Parties, including without limitation, all present and future Lenders and any Affiliate of a Lender, and in particular for all present and future holders of any such debenture or bond. The Secured Parties hereby: (i) irrevocably constitute, to the extent necessary, Agent as the holder of an irrevocable power of attorney (fondé de pouvoir) (within the meaning of Article 2692 of the Civil Code of Quebec) in order to hold hypothecs and security granted by a Borrower or Guarantor on property pursuant to the laws of the Province of Quebec to secure the obligations of such Borrower or Guarantor under any debenture or bond issued by such Borrower or Guarantor; and (ii) appoint and agree that Agent may act as the bondholder and mandatary (i.e. agent) with respect to any debenture or bond that may be issued by a Borrower or Guarantor and pledged in its favor from time to time. The execution by Agent, acting as fondé de pouvoir and mandatary, prior to this Agreement, of any deeds of hypothec or other security documents is hereby ratified and confirmed.. 110

Quebec Security Documents. (a) Without For greater certainty, and without limiting the powers of Agent Agent, or any other Person acting as an agent or mandatary for Agent hereunder or under any other Financing AgreementsLoan Documents, each Borrower and Guarantor Loan Party hereby acknowledges that, for purposes of holding any hypothecs and security granted by such Borrower or Guarantor a Loan Party on property pursuant to the laws of the Province of Quebec to secure obligations of such Borrower or Guarantor a Loan Party under any debenture or bond issued by such Borrower or Guarantora Loan Party, Agent shall be the holder of an irrevocable power of attorney (fondé de pouvoirFONDE DE POUVOIR) (within the meaning of the Civil Code of QuebecCIVIL CODE OF QUEBEC) for the Secured PartiesLender Group (which includes each Lender and Agent), including without limitation, all present and future Lenders and any Affiliate of a Lender, and in particular for all present and future holders of any such debenture or bond. The Secured Parties Lender Group hereby: (i) irrevocably constitute, to the extent necessary, Agent as the holder of an irrevocable power of attorney (fondé de pouvoirFONDE DE POUVOIR) (within the meaning of Article 2692 of the Civil Code of QuebecCIVIL CODE OF QUEBEC) in order to hold hypothecs and security granted by a Borrower or Guarantor Loan Party on property pursuant to the laws of the Province of Quebec to secure the obligations of such Borrower or Guarantor a Loan Party under any debenture or bond issued by such Borrower or Guarantora Loan Party; and (ii) appoint and agree that Agent may act as the bondholder and mandatary (i.e. agent) with respect to any debenture or bond that may be issued by a Borrower or Guarantor Loan Party and pledged in its favor favour from time to time. The execution by Agent, acting as fondé de pouvoir FONDE DE POUVOIR and mandatary, prior to this Agreement, of any deeds of hypothec or other security documents is hereby ratified and confirmed.

Quebec Security Documents. (a) Without limiting the powers of the Administrative Agent or any other Person acting as an agent or mandatary for the Administrative Agent hereunder or under any other Financing AgreementsLoan Documents, each of the Borrower and Guarantor the Guarantors hereby acknowledges that, for purposes of holding any hypothecs and security granted by such the Borrower or such Guarantor on property pursuant to the laws of the Province of Quebec to secure obligations of such the Borrower or such Guarantor under any debenture or bond issued by such the Borrower or such Guarantor, the Administrative Agent shall be the holder of an irrevocable power of attorney (fondé de pouvoir) (within the meaning of the Civil Code of Quebec) for the Secured Parties, including without limitation, all present and future Lenders and any Affiliate of a Lender, and in particular for all present and future holders of any such debenture or bond. The Secured Parties hereby: (i) irrevocably constitute, to the extent necessary, the Administrative Agent as the holder of an irrevocable power of attorney (fondé de pouvoir) (within the meaning of Article 2692 of the Civil Code of Quebec) in order to hold hypothecs and security granted by a the Borrower or a Guarantor on property pursuant to the laws of the Province of Quebec to secure the obligations of such the Borrower or a Guarantor under any debenture or bond issued by such the Borrower or a Guarantor; and (ii) appoint and agree that the Administrative Agent may act as the bondholder and mandatary (i.e. agent) with respect to any debenture or bond that may be issued by a the Borrower or a Guarantor and pledged in its favor from time to time. The execution by the Administrative Agent Agent, acting as fondé de pouvoir and mandatary, prior to this Agreement, of any deeds of hypothec or other security documents is hereby ratified and confirmed. Notwithstanding the provisions of Section 32 of An Act Respecting the Special Powers of Legal Persons (Quebec), the Administrative Agent may acquire and be the holder of any debenture or bond issued by the Borrower or a Guarantor (i.e. the fondé de pouvoir may acquire and hold the first debenture or bond issued under any deed of hypothec by the Borrower or a Guarantor). Each of the Borrower and the Guarantors hereby acknowledges that such debenture or bond constitutes a title of indebtedness, as such term is used in Article 2692 of the Civil Code of Quebec. The constitution of the Administrative Agent as fondé de pouvoir and as bondholder and mandatary with respect to any bond that may be issued and pledged from time to time to the Administrative Agent for the benefit of the Secured Parties shall be deemed to have been ratified and confirmed by each Person accepting an assignment of, a participation in or an arrangement in respect of, all or any portion of an assignor’s rights and obligations under this Agreement by the execution of an assignment agreement, including an Assignment and Assumption Agreement or other agreement pursuant to which it becomes such assignee or participant, and by each successor Administrative Agent pursuant to which it becomes a successor Administrative Agent under this Agreement. The Administrative Agent, acting as fondé de pouvoir, shall have the same rights, powers and immunities as the Administrative Agent as stipulated herein, including under this Section 11.14, which shall apply mutatis mutandis. Without limitation, the provisions of this Section 11.14 shall apply mutatis mutandis to the resignation and appointment of a successor Administrative Agent acting as fondé de pouvoir.

Quebec Security Documents. (a) Without limiting the powers of the Administrative Agent or any other Person acting as an agent or mandatary for the Administrative Agent hereunder or under any other Financing AgreementsLoan Documents, each of the Borrower and Guarantor the Guarantors hereby acknowledges that, for purposes of holding any hypothecs and security granted by such the Borrower or such Guarantor on property pursuant to the laws of the Province of Quebec to secure obligations of such the Borrower or such Guarantor under any debenture or bond issued by such the Borrower or such Guarantor, the Administrative Agent shall be the holder of an irrevocable power of attorney (fondé de pouvoir) (within the meaning of the Civil Code of Quebec) for the Secured Parties, including without limitation, all present and future Lenders and any Affiliate of a Lender, and in particular for all present and future holders of any such debenture or bond. The Secured Parties hereby: (i) irrevocably constitute, to the extent necessary, the Administrative Agent as the holder of an irrevocable power of attorney (fondé de pouvoir) (within the meaning of Article 2692 of the Civil Code of Quebec) in order to hold hypothecs and security granted by a the Borrower or a Guarantor on property pursuant to the laws of the Province of Quebec to secure the obligations of such the Borrower or a Guarantor under any debenture or bond issued by such the Borrower or a Guarantor; and (ii) appoint and agree that the Administrative Agent may act as the bondholder and mandatary (i.e. agent) with respect to any debenture or bond that may be issued by a the Borrower or a Guarantor and pledged in its favor from time to time. The execution by the Administrative Agent Agent, acting as fondé de pouvoir and mandatary, prior to this Agreement, of any deeds of hypothec or other security documents is hereby ratified and confirmed.Notwithstanding the provisions of Section 32 of An Act Respecting the Special Powers of Legal Persons (Quebec), the Administrative Agent may acquire and be the holder of any debenture or bond issued by the Borrower or a Guarantor (i.e. the fondé de pouvoir may acquire and hold the first debenture or bond issued under any deed of hypothec by the Borrower or a Guarantor). Each of the Borrower and the Guarantors hereby acknowledges that such debenture or bond constitutes a title of indebtedness, as such term is used in Article 2692 of the Civil Code of Quebec.