Common use of Representations and Warranties of the Trustees Clause in Contracts

Representations and Warranties of the Trustees. 3.4.1 By its acceptance to be a Trustee, each corporate Trustee, as the case may be, hereby represents and warrants to the Settlor and the Unitholders that: (a) it is incorporated under the laws of Canada or a province thereof; (b) it is authorized under the laws of the Province of Québec to act as a trustee as contemplated in Article 1274 of the Civil Code; and (c) it is at least 51% owned by residents. 3.4.2 By his acceptance to be a Trustee, each individual represents and warrants to the Settlor and the Unitholders that he satisfies all qualifications hereunder and under the laws of the Province of Québec to act as a trustee as contemplated in the Civil Code.