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C-78 - Forestry Credit Act
Section 27
Disposition versions
27. Where at the expiry of the term provided for in section 19, a borrower has not discharged his or its obligations in full and the lender grants him an extension of time to pay the balance of the loan, the borrower is no longer entitled to the repayment of interest provided in section 16, but the lender shall continue to benefit by the guarantee provided in the first paragraph of section 29 or, as the case may be, by the guarantee contemplated in the third paragraph of the said section.
27. Where at the expiry of the term provided for in section 19, a borrower has not discharged his or its obligations in full and the lender grants him a delay to pay the balance of the loan, the borrower is no longer entitled to the repayment of interest provided in section 16, but the lender shall continue to benefit by the guarantee provided in the first paragraph of section 29 or, as the case may be, by the guarantee contemplated in the third paragraph of the said section.
27. Where at the expiry of the term provided for in section 19, a borrower has not discharged his or its obligations in full and the lender grants him a delay to pay the balance of the loan, the borrower is no longer entitled to the repayment of interest provided in section 16, but the lender shall continue to benefit by the guarantee provided in section 29.
