Canada Deposit Insurance Corporation Act — C-3 39.15
.13(1)(d), no person may terminate or amend any agreement with the federal member institution that is in relation to any of that institution’s shares or liabilities that are prescribed by the regulations made under subsection 39.2(10), claim an accelerated payment or forfeiture of the term under such an agreement or demand payment of any amount under such an agreement, by reason only of a monetary default by that institution in the performance of obligations under the agreement when that default occurs after the order was made but before a conversion under subsection 39.2(2.3) in respect of that institution. Agreements overridden (2) Where an order is made under subsection 39.13(1), any stipulation in an agreement is of no force or effect if it (a) has the effect of providing for or permitting anything that, in substance, is contrary to paragraph (1)(e), subsection (1.1) or paragraph 39.13(3)(b); or (b) provides, in substance, that the federal member institution ceases to have the rights — or, in the case of a bridge institution, does not have the rights — to use or deal with assets that the federal member institution or bridge institution would otherwise have, on (i) the insolvency or deteriorated financial condition of the federal member institution or any of its affiliates, providers of credit support or guarantors, (ii) a non-monetary default, before the order was made, by the federal member institution or any of its affiliates in the performance of obligations under the agreement, (iii) a monetary default, before the order was made, under the agreement by the federal member institution or any of its affiliates that is remedied within 60 days after the day on which the order is made, (iv) the making of the order or any change of control or ownership of the federal member institution or any of its affiliates that is related to the making of the order, (v) the assignment or assumption of the agreement to or by a bridge institution or a third party, (vi) the transfer to a third party of all or part of the assets or liabilities of the federal member institution or any of its affiliates, (vii) a conversion under subsection 39.2(2.3) in respect of the federal member institution, or (viii) a conversion of any of the federal member institution’s shares or liabilities in accordance with the contractual terms of those shares or liabilities. Organization’s rules — no force or effect (2.1) If an order is made under subsection 39.13(1), any stipulation in the rules of an organization is of no force or effect if it (a) has the effect of providing for or permitting anything that, in substance, is contrary to paragraph (1)(f) or 39.13(3)(b); or (b) provides, in substance, that the federal member institution ceases to have the rights — or, in the case of the bridge institution, does not have the rights — of a member of the organization, that the federal member institution or the bridge institution would otherwise have, on (i) the insolvency or deteriorated financial condition of the federal member institution or any of its affiliates, providers of credit support or guarantors, (ii) a non-monetary default, before the order was made, by the federal member institution or any of its affiliates in the performance of obligations under the rules of the organization, (iii) a monetary default, before the order was made, under the rules of the organization by the federal member institution or any of its affiliates that is remedied by the institution within 60 days after the day on which the order is made, (iv) the making of the order or any change of control or ownership of the federal member institution or any of its affiliates that is related to the making of the order, (v) the transfer of the federal member institution’s membership to a bridge institution or a third party, (vi) the transfer to a third party of all or part of the assets or liabilities of the federal member institution or any of its affiliates, (vii) a conversion under subsection 3