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.

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.

• 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.

• 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.

• There is about $11,000 left in the program with the expectation that those funds will soon also be spoken for.

• 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.

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 has the meaning set forth in Article VII.

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 has the meaning specified in Section 9.

Canadian Hypothec means a deed of hypothec and issue of bonds granted or to be granted by any Loan Party in favor of the Administrative Agent on all of its present and future moveable or immoveable property pursuant to the laws of the Province of Quebec, together with all bonds, debentures and pledge of bond/debenture agreements or hypothecs thereof, as amended, supplemented or otherwise modified from time to time, and includes, for certainty and without limitation, (i) that certain Deed of Hypothec and Issue of Bonds (the “Deed of Hypothec”) dated December 4, 2014, made by the Canadian Borrower in favor of the Administrative Agent before Mtre. Xxxxxxx Xxxxxxx, notary for the Province of Québec, done and passed in the City of Montreal on such date under number 445, and (ii) a related Pledge of Bond Agreement (the “Bond Pledge Agreement”) dated December 4, 2014, made by the Canadian Borrower in favor of the Administrative Agent relating to a bond in the principal amount of C$100,000,000 represented by Certificate No. A-1 dated December 4, 2014, payable on demand to the Administrative Agent and issued by the Canadian Borrower pursuant to the Deed of Hypothec.

Canadian Hypothec means the Deed of Hypothec made by the Canadian Credit Parties in favor of the Administrative Agent in the form attached hereto as Exhibit H-3.