Quebec Matters. For purposes pursuant to which the interpretation or construction of a Loan Document may be subject to the laws of the Province of Québec or a court or tribunal exercising jurisdiction in the Province of Québec, (a) any “right of offset”, “right of setoff” or similar expression shall be deemed to include a “right of compensation”, (b) “joint and several” shall be deemed to include “solidary”, (c) “gross negligence or willful misconduct” shall be deemed to be “intentional or gross fault” and (d) “beneficial ownership” shall be deemed to include “ownership on behalf of another as mandatory”.
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Samples: Term Loan Credit Agreement (Corre Horizon Fund, Lp), Term Loan Credit Agreement (Team Inc), Unsecured Term Loan Credit Agreement (Team Inc)
Quebec Matters. For purposes pursuant to which the interpretation or construction of a Loan Document may be subject to the laws of the Province of Québec or a court or tribunal exercising jurisdiction in the Province of Québec, (a) any “”right of offset””, “”right of setoff”” or similar expression shall be deemed to include a “”right of compensation””, (b) “””joint and several”” shall be deemed to include “”solidary””, (c) “””gross negligence or willful misconduct”” shall be deemed to be “”intentional or gross fault”” and (d) “””beneficial ownership”” shall be deemed to include “”ownership on behalf of another as mandatory””.
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