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C-37.1 - Act respecting the Communauté urbaine de l’Outaouais

Section 177
Disposition versions

Full text
177. Notwithstanding any law, agreement, trust deed or other provision, none of the provisions of this Act or the exercise of any of the powers which it assigns to the transit authority, or any of the acts which it authorizes shall have the effect of putting a public transport undertaking in default under the terms of the agreements and trust deeds relating to bonds, or of making the payment exigible before maturity, or of enabling the creditors or the trustees or representatives of the creditors to exercise the powers and recourses contemplated in the case of default of the public transport undertaking as regards such bonds, except in the case where payment of the debt has not been assumed by the transit authority.
1969, c. 85, s. 228; 1990, c. 85, s. 110; 1999, c. 40, s. 67.
177. Notwithstanding any law, agreement, trust deed or other provision, none of the provisions of this Act or the exercise of any of the powers which it assigns to the Corporation, or any of the acts which it authorizes shall have the effect of putting a public transport undertaking in default under the terms of the agreements and trust deeds relating to bonds, or of making the payment exigible before maturity, or of enabling the creditors or the trustees or representatives of the creditors to exercise the powers and recourses contemplated in the case of default of the public transport undertaking as regards such bonds, except in the case where payment of the debt has not been assumed by the Corporation.
1969, c. 85, s. 228; 1990, c. 85, s. 110.
177. Notwithstanding any law, agreement, trust deed or other provision, none of the provisions of this act or the exercise of any of the powers which it assigns to the Transit Commission, or any of the acts which it authorizes shall have the effect of putting a public transport undertaking in default under the terms of the agreements and trust deeds relating to bonds, or of making the payment exigible before maturity, or of enabling the creditors or the trustees or representatives of the creditors to exercise the powers and recourses contemplated in the case of default of the public transport undertaking as regards such bonds, except in the case where payment of the debt has not been assumed by the Commission.
1969, c. 85, s. 228.
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