Canadian Grantor definition

Canadian Grantor means the Grantors that are organized under the laws of Canada or any province or territory thereof.

Canadian Grantor the Canadian Borrower and any other Canadian Subsidiary of the Parent Borrower (other than any Excluded Subsidiary) that becomes a party hereto from time to time after the date hereof.

Canadian Grantor means the Canadian Borrower and each other Loan Party that is organized under the laws of Canada or any province or territory thereof. The undersigned, a Financial Officer of the U.S. Borrower and a Financial Officer of the Canadian Borrower, each hereby certifies to the Administrative Agent and each other Secured Party as follows:

Examples of Canadian Grantor in a sentence

• In the case of any letters of credit not constituting Excluded Assets acquired following the Closing Date and constituting Collateral, such Canadian Grantor shall use its commercially reasonable efforts to promptly obtain the consent of the issuer thereof and any nominated person thereon to the assignment of the proceeds of the related letter of credit.

• Such Canadian Grantor shall take, or refrain from taking, as the case may be, each action that is necessary to be taken or not taken, as the case may be, so that no breach of subsection 4.16 of the ABL Credit Agreement is caused by the failure to take such action or to refrain from taking such action by such Canadian Grantor or any of its Subsidiaries.

• If any amount payable under or in connection with any of such Canadian Grantor’s Collateral shall be or become evidenced by any Instrument or Chattel Paper, such Canadian Grantor shall (except as provided in the following sentence) be entitled to retain possession of all Collateral of such Canadian Grantor evidenced by any Instrument or Chattel Paper, and shall hold all such Collateral in trust for the ABL Collateral Agent, for the benefit of the Secured Parties.

• Such Canadian Grantor has not given any account debtor any deduction in respect of the amount due under any such Account, except in the ordinary course of business, as otherwise permitted by the Loan Documents or as such Canadian Grantor may otherwise advise the Administrative Agent in writing.

• All Proceeds of Security Collateral while held by the ABL Collateral Agent in such Collateral Proceeds Account (or by the relevant Canadian Grantor in trust for the ABL Collateral Agent and the other Secured Parties) shall continue to be held as collateral security for all the Obligations of such Canadian Grantor and shall not constitute payment thereof until applied as provided in subsection 6.5 and any applicable Intercreditor Agreement.

More Definitions of Canadian Grantor

Canadian Grantor means a Grantor that is a Canadian Subsidiary.

Canadian Grantor means each of the Canadian Borrowers and the Canadian Subsidiary Guarantors, and “Canadian Grantors” means all of them.

Canadian Grantor means a Grantor that is a Canadian Loan Party.

Canadian Grantor shall have the meaning assigned to such term in the preamble hereto.

Canadian Grantor means the Canadian Borrower, Xxxxxxxxxxxx Canadian Investments, L.P., a Quebec limited partnership and Xxxxxxxxxxxx Canada Holdings Inc., an Alberta corporation.

Canadian Grantor means the Canadian Borrower and any other Loan ---------------- Party that becomes an additional Grantor in accordance with Section 7.16 and may from time to time have Obligations outstanding to a Canadian Lender, the Canadian Agent or the Canadian Collateral Agent.

Canadian Grantor has the meaning set forth in the preamble above.