Canadian Hypothec definition

Canadian Hypothec means a trust deed of hypothec granted or to be granted by any Credit Party in favor of the Canadian Administrative Agent on moveable or immoveable property pursuant to the laws of the Province of Quebec, together with all bonds, debentures and pledges or hypothecs thereof, as amended, supplemented or otherwise modified from time to time.

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Canadian Hypothec means, individually and collectively as the context may require, (a) the Deed of Hypothec dated on or about the Fourth Restatement Date by the Canadian Loan Parties party thereto in favor of the Administrative Agent, (b) any other deed of hypothec entered into after the Fourth Restatement Date by any Canadian Loan Party pursuant to the terms of this Agreement, or any other Loan Document, including Section 5.13, in each case, as the same may be amended, restated or otherwise modified from time to time, and (c) any Deed of Hypothec or pledge agreement and related bond executed in favor of the Existing Administrative Agent.

Canadian Hypothec means, individually and collectively as the context may require, (a) the Deed of Hypothec dated as of the date hereof of the Canadian Loan Parties party thereto in favor of the Administrative Agent (for the benefit of the Canadian Lender Parties), and (b) any other deed of hypothec entered into after the Effective Date by any Canadian Loan Party pursuant to the terms of this Agreement, or any other Loan Document, including Section 5.13, in each case, as the same may be amended, restated or otherwise modified from time to time.

Examples of Canadian Hypothec in a sentence

For greater certainty and without limiting the powers of any Agent, each of the initial Lenders and Agents hereby designates and appoints the Collateral Agent as agent for and on behalf of each of them to hold and to be the sole registered holder of the bonds issued from time to time under any Canadian Hypothec.
Subject to Section 5.04, no Lien has arisen in respect of any construction, repair, improvement or other work in connection with the Project or any part thereof which might now or hereafter have priority over the Mortgage or Canadian Hypothec in favor of the Administrative Agent to any extent whatsoever.
The US Administrative Agent shall --------------------------- have received, with a counterpart for each Lender, the Demand Debenture and Debenture Pledge Agreement for the province of Nova Scotia and the Canadian Hypothec, each executed and delivered by a duly authorized officer of the Canadian Borrower.
In this respect, (i) (as specified in Section 9.06) records shall be kept indicating the names and addresses of, and the pro rata portion of the obligations and indebtedness secured by any pledge of any such debenture or bond and owing to, each Lender, and (ii) each Lender holding any Tranche A Loan will be entitled to the benefits of any Collateral covered by any Canadian Hypothec and will participate in the proceeds of realization of any such Collateral, the whole in accordance with the terms hereof.
With respect to the allocation of the proceeds of Collateral among the Secured Revolving Obligations, each Foreign Security Amendment shall provide that the proceeds of any Collateral granted as security under each Canadian Mortgage, each Canadian Hypothec and each other Foreign Security Agreement shall be allocated to the payment in full of the Canadian Secured Obligations prior to the payment in full of the U.S. Secured Obligations that constitute Secured Revolving Obligations.

More Definitions of Canadian Hypothec

Canadian Hypothec means a hypothec granted by any Credit Party having assets located in the province of Quebec, and any bonds or debentures, any pledge of bonds or debentures and documentation related thereto.

Canadian Hypothec means, individually and collectively as the context may require, (a) the Deed of Hypothec dated as of the date hereof of the Canadian Loan Parties party thereto in favor of the Administrative Agent (for the benefit of the Canadian Lender Parties), (b) the Deed of Hypothec dated as of the Original Closing Date by the Canadian Loan Parties party thereto in favor of the Administrative Agent, and (c) any other deed of hypothec entered into after the Restatement Date by any Canadian Loan Party pursuant to the terms of this Agreement, or any other Loan Document, including Section 5.13, in each case, as the same may be amended, restated or otherwise modified from time to time.

Canadian Hypothec. THE MOVEABLE HYPOTHEC EXECUTED AND DELIVERED BY ----------------- THE CANADIAN BORROWER ON THE ORIGINAL CLOSING DATE, SUBSTANTIALLY IN THE FORM OF EXHIBIT E-4 TO THE ORIGINAL CREDIT AGREEMENT, AS THE SAME MAY BE AMENDED, SUPPLEMENTED OR OTHERWISE MODIFIED FROM TIME TO TIME.

Canadian Hypothec the moveable hypothec executed and delivered by ----------------- the Canadian Borrower on the Original Closing Date, substantially in the form of Exhibit E-4 to the Existing Credit Agreement, as the same may be amended, supplemented or otherwise modified from time to time.

Canadian Hypothec means the Deed of hypothec on Universality of Movable Property dated as of June 28, 2022 the Canadian Borrower in favor of the Administrative Agent acting as the hypothecary representative, for the benefit of the Secured Parties, substantially in the form of Exhibit C-3.

Canadian Hypothec means, collectively, each deed of hypothec, if any, executed after the Closing Date in accordance with Section 5.12 or 5.17(a) by one or more Canadian Loan Parties or other Loan Parties that own Collateral located in the Province of Québec in favor of Agent as hypothecary representative. “Canadian Loan Party” means any Loan Party that is incorporated under the laws of Canada or a province or territory thereof. “Canadian MEPP” means any “multi-employer plan” or “multi-employer pension plan” as such term is defined for purposes of the PBA. “Canadian Pension Plan” means any “registered pension plan”, as such term is defined in Section 248(1) of the Income Tax Act (Canada), or any employee benefit plan that is subject to the funding requirements of the PBA, whether or not registered with any Governmental Authority, but shall not include any (i) Canadian MEPP, or (ii) the Canada Pension Plan or Québec Pension Plan, as, administered by the Government of Canada and Government of Québec, respectively. “Canadian Subsidiary” means any Subsidiary of any Loan Party that is formed under the laws of Canada or a province or territory thereof. “Capital Expenditures” means, with respect to any Person for any period, the amount of all expenditures by such Person and its Subsidiaries during such period that are capital expenditures as determined in accordance with GAAP, whether such expenditures are paid in cash or financed, but excluding, without duplication (a) with respect to the purchase price of assets that are purchased substantially contemporaneously with the trade-in of existing assets during such period, the amount that the gross amount of such purchase price is reduced by the credit granted by the seller of such assets for the assets being traded in at such time, and (b) expenditures made during such period to consummate one or more Permitted Acquisitions. “Capital Lease” means a lease that is required to be capitalized for financial reporting purposes in accordance with GAAP. “Capitalized Lease Obligation” means that portion of the obligations under a Capital Lease that is required to be capitalized in accordance with GAAP. “Cash Equivalents” means (a) marketable direct obligations issued by, or unconditionally guaranteed by, the United States or issued by any agency thereof and backed by the full faith and credit of the United States, in each case maturing within one year from the date of acquisition thereof, (b) marketable direct obligations issued or fully guar...

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