Acts and Regulations

84-137 - Debentures

Full text
6In any debenture made pursuant to this Regulation,
(a) where the context so requires, words importing the singular include the plural and words importing the plural include the singular, and words importing the masculine include the feminine and neuter genders and words importing the feminine include the masculine and neuter genders and words importing the neuter gender include the masculine and feminine genders;
(b) the term “corporation” includes the successors and assigns of the corporation, unless expressly stated to the contrary;
(c) the term “lender” includes the heirs, executors, administrators, successors and assigns of the lender, unless expressly stated to the contrary;
(d) all covenants, conditions, liabilities and obligations entered into or imposed upon a corporation shall be construed to be jointly and severally binding upon each of them and upon their successors and assigns, unless expressly stated to the contrary;
(e) all covenants, conditions, liabilities and obligations entered into or imposed upon a lender shall be construed to be jointly and severally binding upon each of them and upon their heirs, executors, administrators, successors and assigns, unless expressly stated to the contrary; and
(f) all covenants, conditions, liabilities and obligations entered into or imposed upon a guarantor shall be construed to be jointly and severally binding upon each of them and upon their heirs, executors, administrators, successors and assigns, unless expressly stated to the contrary.
6In any debenture made pursuant to this Regulation,
(a) where the context so requires, words importing the singular include the plural and words importing the plural include the singular, and words importing the masculine include the feminine and neuter genders and words importing the feminine include the masculine and neuter genders and words importing the neuter gender include the masculine and feminine genders;
(b) the term “corporation” includes the successors and assigns of the corporation, unless expressly stated to the contrary;
(c) the term “lender” includes the heirs, executors, administrators, successors and assigns of the lender, unless expressly stated to the contrary;
(d) all covenants, conditions, liabilities and obligations entered into or imposed upon a corporation shall be construed to be jointly and severally binding upon each of them and upon their successors and assigns, unless expressly stated to the contrary;
(e) all covenants, conditions, liabilities and obligations entered into or imposed upon a lender shall be construed to be jointly and severally binding upon each of them and upon their heirs, executors, administrators, successors and assigns, unless expressly stated to the contrary; and
(f) all covenants, conditions, liabilities and obligations entered into or imposed upon a guarantor shall be construed to be jointly and severally binding upon each of them and upon their heirs, executors, administrators, successors and assigns, unless expressly stated to the contrary.