Common use of Canadian Collateral Clause in Contracts

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. 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 I attached hereto, each future Lender and Interest Rate Exchanger shall be deemed to ratify the power of attorney granted to the Administration Agent hereunder.