Common use of Security for Hedging Agreements Clause in Contracts

Security for Hedging Agreements. (a) The guarantees, security and loss payee designations provided for under the other sections of this Article 10 (the “Security”) will also secure the performance of the obligations of the Borrowers to the Lenders, their Affiliates and the Exiting Lenders in their capacity as counterparties under Hedging Agreements (the “Hedging Creditors”). The Collateral Agent will act as agent for the Hedging Creditors for all purposes of the Security Documents, including the enforcement or release thereof. For such purposes, the provisions of Article 17, Article 18 and Article 19 (adapted accordingly) will also apply to the Hedging Creditors. However, until termination and repayment in full of the Facility, the claims of the Hedging Creditors will not be taken into account in any situation where a decision regarding the Security has to be made by the Lenders, including any enforcement or release thereof. (b) The rights of the Lenders and the Hedging Creditors under the Security will rank pari passu, but only to the extent of an aggregate maximum amount of $150,000,000 in respect of the claims of the Hedging Creditors under Hedging Agreements (such amount to be calculated as provided in Section 10.5(c)). Any excess will rank after the rights of the Lenders under the Facility. Any proceeds of realization of the Security to be distributed to the Hedging Creditors will be allocated among them pro rata to their claims (irrespective of the dates of the related agreements or transactions). (c) Each Hedging Creditor will calculate its claim under any Hedging Agreement in accordance with normal market practices (using the xxxx-to-market method whenever applicable) and after giving effect to any close-out, netting arrangement or right of set-off provided by contract or permitted by law. (d) The Hedging Agreements secured by the Security will consist of Hedging Agreements made from the date of this Agreement with Hedging Creditors who are Lenders or Affiliates thereof as well as Hedging Agreements made prior to this Agreement with Hedging Creditors who are Lenders or Exiting Lenders. For greater certainty, the Security (to the extent not released by the Lenders) will continue to secure the obligations of any Borrower to any Hedging Creditor (i) after termination and repayment in full of the Facility, or (ii) after such Hedging Creditor (or the Lender affiliated with it) has ceased to be a Lender. (e) The Agents will be entitled at any time to assume that the only Lenders or Affiliates thereof with a Hedging Creditor status are those who have notified the Agents of such status before such time. Cascades represents and warrants to the Agents that the only Exiting Lender with a Hedging Creditor status is Société Générale (Canada Branch).

Security for Hedging Agreements. (a) The guarantees, security and loss payee designations provided Agent will act as agent for under the other sections of this Article 10 (the “Security”) will also secure the performance of the obligations of the Borrowers to the Lenders, their Affiliates and the Exiting Lenders in their capacity as counterparties under Hedging Agreements (hereafter, the “Hedging Creditors”). The Collateral Agent will act as agent for the Hedging Creditors "hedging lenders") for all purposes of the Security Documents, including the enforcement or release thereof. For such purposes, the provisions of Article Articles 17, Article 18 and Article 19 (adapted accordingly) will also apply to the Hedging Creditorshedging lenders. However, until termination and repayment in full of the Facility, the claims of the Hedging Creditors hedging lenders will not be taken into account in the calculation of the Majority Lenders, including in any situation where a decision regarding the Security has to be made by the Majority Lenders, including any enforcement or release thereof. (b) The rights of the Lenders and the Hedging Creditors hedging lenders under the Security will rank pari passu, but only to the extent of an aggregate maximum amount of $150,000,000 100,000,000 in respect of the claims of the Hedging Creditors hedging lenders under Hedging Agreements (such amount to be calculated as provided in Section 10.5(c)). Any excess will rank after the rights of the Lenders under the Facility. Any proceeds of realization of the Security to be distributed to the Hedging Creditors will be allocated hedging lenders among them pro rata to their claims (irrespective of the dates of the related agreements or transactions). (c) Each Hedging Creditor hedging lender will calculate its claim under any Hedging Agreement in accordance with normal market practices (using the xxxx-to-market method whenever applicable) and after giving effect to any close-out, netting arrangement or right of set-off provided by contract or permitted by law. (d) The For greater certainty, (i) the Hedging Agreements secured by the Security will consist of include not only Hedging Agreements made from the date of this Agreement with Hedging Creditors who are Lenders or Affiliates thereof as well as Hedging Agreements hereof but also those made prior to this Agreement the date hereof with Hedging Creditors who are Lenders or Exiting Lenders. For greater certaintyhedging lenders, and (ii) the Security (to the extent not released by the Lenders) will continue to secure the obligations of any Borrower to any Hedging Creditor (i) hedging lender after termination and repayment in full of the Facility, or (ii) after such Hedging Creditor (or the Lender affiliated with it) has ceased to be a Lender. (e) The Agents will be entitled at any time to assume that the only Lenders or Affiliates thereof with a Hedging Creditor status are those who have notified the Agents of such status before such time. Cascades represents and warrants to the Agents that the only Exiting Lender with a Hedging Creditor status is Société Générale (Canada Branch).

Security for Hedging Agreements. (a) The guarantees, security and loss payee designations provided Agent will act as agent for under the other sections of this Article 10 (the “Security”) will also secure the performance of the obligations of the Borrowers to the Lenders, their Affiliates and the Exiting Lenders in their capacity as counterparties under Hedging Agreements (hereafter, the “Hedging Creditorshedging lenders”). The Collateral Agent will act as agent for the Hedging Creditors ) for all purposes of the Security Documents, including the enforcement or release thereof. For such purposes, the provisions of Article Articles 17, Article 18 and Article 19 (adapted accordingly) will also apply to the Hedging Creditorshedging lenders. However, until termination and repayment in full of the FacilityFacilities, the claims of the Hedging Creditors hedging lenders will not be taken into account in the calculation of the Majority Lenders, including in any situation where a decision regarding the Security has to be made by the Majority Lenders, including any enforcement or release thereof. (b) The rights of the Lenders and the Hedging Creditors hedging lenders under the Security will rank pari passu, but only to the extent of an aggregate maximum amount of $150,000,000 100,000,000 in respect of the claims of the Hedging Creditors hedging lenders under Hedging Agreements (such amount to be calculated as provided in Section 10.5(c10.7(c)). Any excess will rank after the rights of the Lenders under the FacilityFacilities. Any proceeds of realization of the Security to be distributed to the Hedging Creditors hedging lenders will be allocated among them pro rata to their claims (irrespective of the dates of the related agreements or transactions). (c) Each Hedging Creditor hedging lender will calculate its claim under any Hedging Agreement in accordance with normal market practices (using the xxxx-to-market method whenever applicable) and after giving effect to any close-out, netting arrangement or right of set-off provided by contract or permitted by law. (d) The Hedging Agreements secured by the Security will consist of include Hedging Agreements made from with a hedging lender who is (or was) a Lender at the date time of this the entering into of such Hedging Agreement with Hedging Creditors who are Lenders or Affiliates thereof as well as Hedging Agreements made prior to this Agreement with Hedging Creditors who counterparties that are Lenders or Exiting Lendersas at the date hereof. For greater certainty, the Security (to the extent not released by the Lenders) will continue to secure the obligations of any Borrower to any hedging lender under Hedging Creditor (i) Agreements after termination and repayment in full of the Facility, or (ii) after such Hedging Creditor (or the Lender affiliated with it) has ceased to be a LenderFacilities. (e) The Agents will be entitled at any time to assume that the only Lenders or Affiliates thereof with a Hedging Creditor status are those who have notified the Agents of such status before such time. Cascades represents and warrants to the Agents that the only Exiting Lender with a Hedging Creditor status is Société Générale (Canada Branch).

Security for Hedging Agreements. (a) The guarantees, security and loss payee designations provided Agent will act as agent for under the other sections of this Article 10 (the “Security”) will also secure the performance of the obligations of the Borrowers to the Lenders, their Affiliates and the Exiting Lenders in their capacity as counterparties under Hedging Agreements (hereafter, the “Hedging Creditors”). The Collateral Agent will act as agent for the Hedging Creditors "hedging lenders") for all purposes of the Security Documents, including the enforcement or release thereof. For such purposes, the provisions of Article Articles 17, Article 18 and Article 19 (adapted accordingly) will also apply to the Hedging Creditorshedging lenders. However, until termination and repayment in full of the Facility, the claims of the Hedging Creditors hedging lenders will not be taken into account in the calculation of the Majority Lenders, including in any situation where a decision regarding the Security has to be made by the Majority Lenders, including any enforcement or release thereof. (b) The rights of the Lenders and the Hedging Creditors hedging lenders under the Security will rank pari passu, but only to the extent of an aggregate maximum amount of $150,000,000 50,000,000 in respect of the claims of the Hedging Creditors hedging lenders under Hedging Agreements (such amount to be calculated as provided in Section 10.5(c)). Any excess will rank after the rights of the Lenders under the Facility. Any proceeds of realization of the Security to be distributed to the Hedging Creditors will be allocated hedging lenders among them pro rata to their claims (irrespective of the dates of the related agreements or transactions). (c) Each Hedging Creditor hedging lender will calculate its claim under any Hedging Agreement in accordance with normal market practices (using the xxxx-to-market method whenever applicable) and after giving effect to any close-out, netting arrangement or right of set-off provided by contract or permitted by law. (d) The For greater certainty, (i) the Hedging Agreements secured by the Security will consist of include not only Hedging Agreements made from the date of this Agreement with Hedging Creditors who are Lenders or Affiliates thereof as well as Hedging Agreements hereof but also those made prior to this Agreement the date hereof with Hedging Creditors who are Lenders or Exiting Lenders. For greater certaintyhedging lenders, and (ii) the Security (to the extent not released by the Lenders) will continue to secure the obligations of any Borrower to any Hedging Creditor (i) hedging lender after termination and repayment in full of the Facility, or (ii) after such Hedging Creditor (or the Lender affiliated with it) has ceased to be a Lender. (e) The Agents will be entitled at any time to assume that the only Lenders or Affiliates thereof with a Hedging Creditor status are those who have notified the Agents of such status before such time. Cascades represents and warrants to the Agents that the only Exiting Lender with a Hedging Creditor status is Société Générale (Canada Branch).