Canada Cooperatives Act

Marginal note:Definitions

266 The definitions in this section apply in this Part.

event of default

event of default means, in relation to a trust indenture, an event specified in the trust indenture on the occurrence of which the principal, interest and other money payable under the trust indenture become or may be declared to be payable before maturity, but the event is not an event of default until all the conditions set out in the trust indenture in connection with the giving of notice of the event have been satisfied or the period for giving the notice has elapsed. (cas de défaut)

guarantor

guarantor means a person that has guaranteed an obligation of an issuer under a trust indenture. (caution)

issuer

issuer means a cooperative that has issued, is about to issue or is in the process of issuing debt obligations. (émetteur)

trustee

trustee means a person appointed as trustee, including the administrator of the property of others, under the terms of a trust indenture to which a cooperative is a party, and includes a successor trustee. (fiduciaire)

trust indenture

trust indenture means a deed, indenture or other instrument or act, including a supplement or amendment, made by a cooperative under which the cooperative issues debt obligations and in which a person is appointed as trustee for the holders of the debt obligations issued under it. (acte de fiducie)