Eligible Financial Contract. This Agreement, including the security interest granted by this Agreement, and any Contract, are “eligible financial contracts” within the meaning of the Bankruptcy and Insolvency Act (Canada), the Companies’ Creditors Arrangement Act (Canada), the Winding-up and Restructuring Act (Canada) and the Payment Clearing and Settlement Act (Canada). Customer represents that it is a “financial institution” for the purposes of the Payment Clearing and Settlement Act (Canada).
Eligible Financial Contract. The parties acknowledge and agree that this Agreement constitutes an “eligible financial contract” for the purposes of the Bankruptcy and Insolvency Act (Canada), the Companies Creditors’ Arrangement Act (Canada), the Winding- Up and Restructuring Act (Canada), the Canada Deposit Insurance Corporation Act (Canada) and any statute of Canada, any province of Canada or the United States analogous to any of the foregoing statutes.
Eligible Financial Contract. This Agreement, all Transactions under this Agreement, and any guarantee thereof by Customer’s Guarantor or Company’s Guarantor, as applicable, each and together constitute an “eligible financial contract” under and in all proceedings related to the Companies’ Creditors Arrangement Act (Canada), as amended, restated, replaced or re-enacted from time to time, and will be treated similarly under and in all proceedings related to any bankruptcy, insolvency or similar law (regardless of the jurisdiction of application or competence of such law) or any ruling, order, directive or pronouncement made pursuant thereto, including, but not limited to, the Bankruptcy and Insolvency Act (Canada), as amended, restated, replaced or re-enacted from time to time.17.14.
Eligible Financial Contract. The Loan Parties intend that this Agreement be an eligible financial contract (as defined in the Bankruptcy and Insolvency Act (Canada)). [REMAINING SPACE INTENTIONALLY LEFT BLANK; SIGNATURES TO FOLLOW ON NEXT PAGE]
Eligible Financial Contract. Section 10.10 is deleted and replaced with the following: “This Agreement, including all Transactions under this Agreement and any Performance Assurance or other designated collateral, credit support or margin agreement or similar arrangement and any guarantee thereof, as applicable, each and together constitute an “eligible financial contract” under and in all proceedings related to the Bankruptcy Insolvency Act (Canada), the Companies’ Creditors Arrangement Act (Canada) or the Winding-up and Restructuring Act (Canada) (in any case, as amended, restated, replaced or re-enacted from time to time) and will be treated similarly under and in all proceedings related to any bankruptcy, insolvency or similar law (regardless of the jurisdiction of application or competence of such law) or any ruling, order, directive or pronouncement made pursuant thereto. The Parties further acknowledge and agree that each of them is a “forward contract merchant” for purposes of the Bankruptcy Code with respect to all Transactions, and that all provisions of the Bankruptcy Code pertaining to “forward contract merchants”, including without limitation, Sections 362(b)(6), 546(e) and 556, shall be applicable to the Parties. The Parties further acknowledge and agree that: (i) all payments made or to be made by one Party to the other Party under or pursuant to this Agreement constitute “settlement payments” within the meaning of the Bankruptcy Code; (ii) all transfers of Performance Assurance by one Party to the other Party under this Agreement constitute “margin payments” within the meaning of the Bankruptcy Code; and
Eligible Financial Contract. Each party acknowledges and agrees that this Agreement, including all Transactions hereunder, each and together constitute an “eligible financial contract” under and in all proceedings related to the Bankruptcy and Insolvency Act (Canada), the Companies’ Creditors Arrangement Act (Canada) or the Winding-up and Restructuring Act (Canada), as the same may be amended, restated, replaced or re-enacted from time to time, and will be treated similarly under and in all proceedings related to any bankruptcy, insolvency or similar law (regardless of the jurisdiction of application or competence of such law) or any ruling, order, directive or pronouncement made pursuant thereto.
