Item - 2013.CC37.10

City Council on July 16, 17, 18 and 19, 2013, adopted the following:

1.         City Council authorize the Deputy City Manager and Chief Financial Officer to enter into, execute and deliver a consent and acknowledgement (the “Consent and Acknowledgement”) to  Sun Life Assurance Company of Canada ("Sun Life") and to a Collateral Agent to be appointed pursuant to a General Security Agreement to be granted by Enwave, whereby the City consents to the assignment by Enwave of  its interest in the Energy Transfer Agreement dated January 18, 2002 between the City and Enwave, as amended, (the “Energy Transfer Agreement”) to Sun Life and to BNY Trust Company of Canada as security for credit facilities negotiated by Enwave and its lenders; provided, however, that the terms and conditions of the Consent and Acknowledgement, and any related documents in which the City has an interest, are satisfactory to the Deputy City Manager and Chief Financial Officer and the City Solicitor and in a form satisfactory to the City Solicitor.

2.         City Council authorize the Deputy City Manager and Chief Financial Officer to deliver and execute, if necessary, on behalf of the City, any additional documents that the Deputy City Manager and Chief Financial Officer and the City Solicitor determine are necessary to give effect to Part 1 above.