Canadian Collateral. The Canadian Pledge and Security Agreement is effective to create in favor of the Collateral Agent, for the ratable benefit of the Secured Parties, a legal, valid and enforceable security interest in the Collateral described therein to secure the Finance Obligations. In the case of the Collateral described in the Canadian Pledge and Security Agreement that can be perfected by the filing of a PPSA filing, when PPSA and other filings specified on Schedule 6.20 in appropriate form are filed in the offices specified on Schedule 6.20, the Collateral Agent will have, for the ratable benefit of the Secured Parties, a fully perfected Lien on, and security interest in, all right, title and interest of the grantors thereunder in such of the Collateral in which a security interest can be perfected under the PPSA to secure the Finance Obligations, in each case prior and superior in right to any other Person, other than with respect to Permitted Liens made superior to such security interest by the Intercreditor Agreement or automatically by operation of law.
Canadian Collateral. For the purposes of holding any Liens granted by the Company or any other Loan Party pursuant to the laws of the province of Quebec, the Lenders hereby acknowledge that the Administration Agent shall be and act as the person holding the power of attorney of all present and future Lenders and Interest Rate Exchangers for all purposes of Article 2692 of the Civil Code of Quebec (the Administration Agent acting in such capacity is herein referred to as the “Trustee”). By executing an assignment and assumption agreement in the form of Exhibit XII attached hereto, each future Lender and Interest Rate Exchanger shall be deemed to ratify the power of attorney granted to the Administration Agent hereunder.
Canadian Collateral. The Canadian Security Agreement and the Deed of Hypothec are effective to create in favor of the Collateral Agent, for the ratable benefit of the Secured Parties, a legal, valid and enforceable security interest and hypothec, as applicable, in the Canadian Collateral described therein and, when financing statements and recordations, as applicable, in appropriate form are filed in the offices specified on Schedule 4.01 to the Canadian Security Agreement and, with respect to the Deed of Hypothec, at the register of personal and movable real rights, all filings necessary in the Provinces of Ontario, Alberta, British Columbia and Quebec to perfect the Lien created by the Canadian Security Agreement and the Deed of Hypothec in favour of the Canadian Secured Parties in the Collateral charged thereunder in which a security interest or hypothec can be perfected under the PPSA and the Civil Code, as applicable, shall have been made, and such Lien shall constitute a perfected Lien on, and security interest and hypothec in, all right, title and interest of the grantors thereunder in such of the Collateral in which a security interest can be perfected under the PPSA and the Civil Code in each case prior and superior in right to any other Person, other than with respect to Permitted Liens.
Canadian Collateral. The Administrative Agent shall have received each of the following documents with respect to Collateral located in Canada or owned by a Person having a principal place of business, chief executive office or domicile in Canada:
Canadian Collateral. To secure payment and performance of all Canadian Obligations each Canadian Loan Party has granted to Agent, for itself and the benefit of Secured Parties, under the Canadian Collateral Documents, a continuing security interest in, a Lien upon, and a right of set off against, and has pledged and made a collateral assignment to Agent, for itself and the benefit of Secured Parties, as security, all personal property of each respective Canadian Loan Party, but specifically excluding all Excluded Canadian Assets, whether now owned or hereafter acquired or existing, and wherever located (together with all other collateral security for the respective Canadian Obligations at any time granted by the Canadian Loan Parties to or held or acquired from the Canadian Loan Parties by Agent or any Secured Party, but specifically excluding all Excluded Canadian Assets, collectively, the “Canadian Collateral”).
Canadian Collateral all Collateral which the Canadian Borrower (and, if applicable, Canadian Subsidiary Guarantors) owns or otherwise has an interest in.
Canadian Collateral. Upon the earlier to occur of (a) a Default, (b) an Event of Default, or (c) the Borrowers having furniture, fixtures, inventory, equipment, intellectual property and leasehold improvements located in Canada having an aggregate net book value in excess of $1,500,000.00 U.S. Dollars, as shown on the most recent financial statements delivered by the Borrowers to the Administrative Agent, the Administrative Agent may file such financing statements or financing change statements as are necessary to perfect the security interest previously granted by the Borrowers in such of the Borrowers’ assets located in Canada without further consent or action by or on behalf of any Borrower, and the Borrowers shall take whatever action is or may be requested by the Administrative Agent to further grant to the Administrative Agent, on behalf of the Lenders, a first priority, perfected security interest in all of the Borrowers’ assets located in Canada. (The Lenders hereby acknowledge that unless the Administrative Agent has filed the foregoing financing statements or financing change statements, the Lenders will not have a first priority, perfected security interest in any of the Borrowers’ assets located in Canada). In determining whether the Borrowers own furniture, fixtures, inventory, equipment, intellectual property and leasehold improvements located in Canada having an aggregate book value in excess of $1,500,000.00 U.S. Dollars, any such property (i) which is identified by the Borrowers as a “pass-through purchase”, as shown on the most recent financial statements delivered by the Borrowers to the Administrative Agent, shall not be taken into account, and (ii) the ownership of which the Borrowers can establish, to the Administrative Agent’s satisfaction, must be promptly transferred to one of their its customers shall not be taken into account.
Canadian Collateral. Upon the earlier to occur of (a) an Unmatured Event of Default, (b) an Event of Default, or (c) the Borrower having furniture, fixtures, inventory, equipment, intellectual property and leasehold improvements located in Canada having an aggregate net book value in excess of $1,000,000.00 U.S. Dollars, as shown on the most recent financial statements delivered by the Borrower to the Agent, the Agent may file such financing statements or financing change statements as are necessary to perfect the security interest previously granted by the Borrower in such of the Borrower's Property located in Canada without further consent or action by or on behalf of the Borrower, and the Borrower shall take whatever action is or may be requested by the Agent to further grant to the Agent, on behalf of the Lenders, a first priority, perfected security interest in all of such Borrower's Property located in Canada. (The Lenders hereby acknowledge that unless the Agent has filed the foregoing financing statements or financing change statements, the Lenders will not have a first priority, perfected security interest in such of Borrower's Property located in Canada).
Canadian Collateral. 51 6.20 Dissolution of Management Systems, Integrators, Inc. and Solutions Through Data-Processing, Inc............................................................................................52 SECTION 7. NEGATIVE COVENANTS....................................................................................52 7.1 Merger, Consolidation, Dissolution or Liquidation..............................................52 7.2 Acquisitions:..................................................................................52 7.3 Liens and Encumbrances:........................................................................52 7.4 Transactions With Affiliates or Subsidiaries...................................................53 7.5 Guarantees:....................................................................................53 7.6 Distributions, Redemptions and Other Indebtedness:.............................................54
Canadian Collateral. On or before the July 28, 2017, the Canadian Loan Parties shall execute and deliver such Collateral Documents as the Administrative Agent may reasonably request for the purpose of granting and perfecting Liens in favor of the Administrative Agent on substantially all assets of the Canadian Loan Parties excluding (i) real property assets located in Canada; (ii) any assets encumbered by Liens as of the Fifth Amendment Effective Date, so long as such Liens were permitted under Section 7.01 as in effect immediately prior to the Fifth Amendment Effective Date; and (iii) any assets intended to be encumbered, or actually encumbered, by Liens permitted under Section 7.01(k) so long as the Indebtedness intended to be incurred pursuant to Section 7.03(g) is incurred on or prior to August 31, 2017 (or such later dated agreed to by the Administrative Agent).
