Retention of Security for Deficiency. Until such time as any Deficiency has been determined and an amount equal to the Deficiency has been recovered by the Finance Parties, the Finance Parties will be entitled to retain the benefit of the security in respect of claims and losses that Project Co has as against the Material Project Contractor under the relevant Material Contract (or as against any guarantor of such Material Contract) that arose prior to the date of the assumption, transfer or assignment of the relevant Material Contract (or guarantee in respect of such Material Contract) by or to the Authority (or by or to a third party designated by the Authority) provided that:
Retention of Security for Deficiency. Until such time as any Deficiency has been determined and an amount equal to the Deficiency has been recovered by the Secured Parties, the Secured Parties shall be entitled to retain the benefit of the Security in respect of Claims and Losses that Project Co has as against a Principal Contractor under the relevant Principal Contract (or any guarantor of such Principal Contract) that arose prior to the date of the assumption, transfer or assignment of the relevant Principal Contract (or guarantee in respect of such Principal Contract) by or to the Province (or by or to a third party designated by the Province) provided that:
Retention of Security for Deficiency. 16 9.5 Assignment of Material Contracts by Finance Parties 17 10. ASSIGNMENT 17 10.1 Restriction on Assignment 17 10.2 Assignment by Agent 17 10.3 Assignment by Senior Lender 17 10.4 Assignment by Authority 17 10.5 New Agreement 18 11. GENERAL 18 11.1 Term 18 11.2 Conflict or Inconsistency 18 11.3 Entire Agreement 18 11.4 Waiver 18 11.5 Counterparts 18 11.6 Confidentiality 19 11.7 Notices 19 11.8 No Partnership or Agency 20 11.9 Remedies Cumulative 20 11.10 Disputes 20 SCHEDULE 10 LENDERS’ REMEDIES AGREEMENT THIS AGREEMENT is dated as of ▼, 20 BETWEEN: INTERIOR HEALTH AUTHORITY, (the “Authority”) AND: ▼ (the “Agent”), [on its own behalf and] as agent for the Senior Lenders AND: ▼ (“Project Co”)
Retention of Security for Deficiency. 19 9.5 Assignment of Project Contracts by Senior Secured Creditors 20 10. NEW AGREEMENTS 20 10.1 Applicability of Section 10 20 10.2 Termination of Project Implementation Agreement and Replacement with New Agreements 20 10.3 Deliveries to Project Co 20 10.4 Authority to Enter into New Agreements 20 10.5 Conditions to New Agreements Becoming Effective 21
Retention of Security for Deficiency. Until such time as any Deficiency has been determined and an amount equal to the Deficiency has been recovered by the Senior Secured Creditors, the Senior Secured Creditors will be entitled to retain the benefit of the security in respect of claims and losses that Operations Co has as against the Project Contractor under the relevant Project Contract (or as against any guarantor of such Project Contract) that arose prior to the date of the assumption, transfer or assignment of the relevant Project Contract (or guarantee in respect of such Project Contract) by or to the Authority (or by or to a third party designated by the Authority), provided that:
Retention of Security for Deficiency. 16 9.5 Assignment of Material Project Contracts by Finance Parties 17 10. ASSIGNMENT 17 10.1 Restriction on Assignment 17 10.2 Assignment by Collateral Agent 17 10.3 Assignment by Senior Lender 18 10.4 Assignment by Authority 18 10.5 New Agreement 18 11. GENERAL 18 11.1 Term 18 11.2 Conflict or Inconsistency 18 11.3 Entire Agreement 19 11.4 Waiver 19 11.5 Counterparts 19 11.6 Confidentiality 19 11.7 Notices 19 11.8 No Partnership or Agency 21 11.9 Remedies Cumulative 21 11.10 Disputes 21 LENDERS’ REMEDIES AGREEMENT THIS AGREEMENT is dated as of June 13, 2011 BETWEEN: HER MAJESTY THE QUEEN IN RIGHT OF THE PROVINCE OF BRITISH COLUMBIA AS REPRESENTED BY THE MINISTER OF LABOUR, CITIZENS' SERVICES, AND OPEN GOVERNMENT (the “Authority”) AND: COMPUTERSHARE TRUST COMPANY OF CANADA (the “Collateral Agent”), for and on behalf of the Finance Parties AND: BROOKFIELD INFRASTRUCTURE PARTNERSHIPS SURREY (“Project Co”)
Retention of Security for Deficiency. If, in the reasonable opinion of the Agent, there is likely to be a Senior Debt Deficiency, then until such time as an amount equal to the Senior Debt Deficiency has been recovered by the Finance Parties, the Finance Parties will be entitled to retain the benefit of the security in respect of claims and losses that Project Co has as against the Material Contract Party under the relevant Material Contract (or as against any guarantor of such Material Contract) that arose prior to the date of the assumption, transfer or assignment of the relevant Material Contract (or guarantee in respect of such Material Contract) by or to the Province (or by or to a third party designated by the Province) provided that:
