Canadian Security Document definition
Examples of Canadian Security Document in a sentence
The Canadian Borrower will cause any subsequently acquired or organized Canadian Subsidiary (other than (a) any Inactive Subsidiary and (b) any such non-wholly owned Subsidiary, as aforesaid) or any Canadian Subsidiary that ceases to be an Inactive Subsidiary to execute a supplement to the Canadian Subsidiary Guarantee Agreement and each applicable Canadian Security Document.
The Canadian Borrower will cause any subsequently acquired or organized Canadian Subsidiary that is a Material Subsidiary or any Canadian Subsidiary that was not a Material Subsidiary that subsequently becomes a Material Subsidiary to execute a supplement to the Canadian Subsidiary Guarantee Agreement and each applicable Canadian Security Document.
Upon completion of the actions set forth in each Canadian Security Document, such Canadian Security Document shall constitute a fully perfected Lien on, and security interest in, all right, title and interest of the Loan Parties in such Collateral and the proceeds thereof, as security for the Canadian Borrower Obligations, in each case prior and superior in right to any other Person.
In connection with the execution and delivery of any Canadian Subsidiary Guarantee or Canadian Security Document pursuant to this Section 5.1(14), the Borrower shall, or shall cause the relevant Canadian Subsidiary to, deliver to the Administrative Agent such corporate resolutions, certificates, legal opinions and such other related documents as shall be reasonably requested by the Administrative Agent.
The Collateral Agent shall have no duty to ascertain or inquire as to the performance or observance of any of the terms of any Canadian Security Document by any Lien Grantor.
The Administrative Agent shall have received original stock certificates evidencing the capital stock pledged pursuant to the Pledge Agreements, any Canadian Security Document, any U.K. Security Document and (to the extent applicable) any German Security Document, together with an appropriate undated stock power for each certificate (to the extent applicable) duly executed in blank by the registered owner thereof (except that such stock certificates of United Telecom Ltd.
The Administrative Agent shall have received evidence of insurance coverage in form, scope, and substance reasonably satisfactory to the Administrative Agent and otherwise in compliance with the terms of Section 5.10 hereof and Section 4.12 of each of the U.S. Security Agreement and each applicable Canadian Security Document.
Upon completion of the actions set forth in each Canadian Security Document, such Canadian Security Document, shall constitute a fully perfected Lien on, and security interest in, all right, title and interest of the Loan Parties in such Collateral and the proceeds thereof, as security for the Canadian Borrower Obligations, in each case prior and superior in right to any other Person (except Liens permitted by subsection 7.3).
In connection with the execution and delivery of any Canadian Subsidiary Guarantee or Canadian Security Document pursuant to this Section 5.1(13), the Borrower shall, or shall cause the relevant Canadian Subsidiary to, deliver to the Administrative Agent such corporate resolutions, certificates, legal opinions and such other related documents as shall be reasonably requested by the Administrative Agent.
The US Administrative Agent shall have received evidence in form and substance reasonably satisfactory to it that all of the requirements relating to insurance of subsection 5.3 of the US Guarantee and Collateral Agreement, of each Canadian Security Document and of each of the Mortgages shall have been satisfied.