Canadian Domiciled Obligor definition
Examples of Canadian Domiciled Obligor in a sentence
No Canadian Domiciled Obligor or other Person claiming through or on behalf of any Canadian Domiciled Obligor shall have any right to any Cash Collateral, until Full Payment of all Canadian Facility Obligations.
If a Dominion Account of a U.S. Domiciled Obligor or Canadian Domiciled Obligor is not maintained with Bank of America or Bank of America (Canada), as applicable, Agent may, during any Dominion Trigger Period, require immediate transfer of all funds in such account to a Dominion Account maintained with Bank of America or Bank of America (Canada), as applicable.
Each Canadian Domiciled Obligor acknowledges that its guaranty pursuant to this Section is necessary to the conduct and promotion of its business, and can be expected to benefit such business.
It is agreed among each Canadian Domiciled Obligor and U.K. Domiciled Obligor, Agent and Lenders that the provisions of this Section 5.11 are of the essence of the transaction contemplated by the Loan Documents and that, but for such provisions, Agent and Lenders would decline to make Loans and issue Letters of Credit.
No Lien has arisen, xxxxxx or inchoate, in respect of any Canadian Domiciled Obligor or their property in connection with any Canadian Pension Plan (other than contribution amounts not yet due).
The “U.K./Canadian Allocable Amount” for any Canadian Domiciled Obligor or U.K. Domiciled Obligor shall be the maximum amount that could then be recovered from such Canadian Domiciled Obligor or U.K. Domiciled Obligor under this Section 5.11 without rendering such payment voidable under Section 548 of the U.S. Bankruptcy Code or under any similar applicable fraudulent transfer or conveyance Applicable Law, or the Applicable Law in Canada or any province or territory thereof, or in England.
Each Canadian Domiciled Obligor waives all defenses available to a surety, guarantor or accommodation co-obligor other than Full Payment of Canadian Facility Obligations and waives, to the maximum extent permitted by law, any right to revoke any guaranty of Canadian Facility Obligations as long as it is an Obligor.
To further secure the prompt payment and performance of the Foreign Facility Obligations, each Canadian Domiciled Obligor and each U.S. Domiciled Obligor hereby transfers and assigns to Agent and/or Security Trustee all of such Obligor’s right, title and interest in, to and under all now or hereafter existing leases of real property with annual rents in excess of $1,500,000 to which such Obligor is a party, whether as lessor or lessee, and all extensions, renewals, modifications and proceeds thereof.
No Canadian Domiciled Obligor or Subsidiary contributes to or participates in a Canadian Multi-Employer Plan.
Each Canadian Domiciled Obligor and U.K. Domiciled Obligor waives all defenses available to a surety, guarantor or accommodation co-obligor other than Full Payment of all Obligations.