Assumption of Losses Sample Clauses

Assumption of Losses. 3.1 The Controlling Company shall be obliged to compensate for any annual loss of the Controlled Company, which would otherwise arise during the term of the Agreement. The provisions of Sec. 302 AktG, as amended from time to time, shall apply to the assumption of losses. 3.2 The claim for the assumption of losses shall arise at the end of the fiscal year of the Controlled Company and shall become due at that time.

Assumption of Losses. (1) The valid version of Section 302 of the German Stock Corporation Act shall apply analo- gously. (2) In particular, the Controlling Company shall be obliged to offset any net loss for the year in- curred during the term of this Agreement unless such loss is offset by drawing funds from other retained earnings in accordance with Section 2, Paragraph 2, Sentence 2 which have been transferred to other retained earnings during the term of this Agreement. Furthermore, the provisions governing the waiver and settlement of the entitlement to offset losses (Sec- tion 302, Paragraph 3 of the German Stock Corporation Act) and the statutes of limitation (Section 302, Paragraph 4 of the German Stock Corporation Act) shall apply.

Assumption of Losses. The provisions of the valid version of Section 302 of the German Stock Corporation Act shall apply analogously.

Assumption of Losses. As regards the assumption of losses, the provisions of § 302 AktG, as amended from time to time, shall apply mutatis mutandis.

Assumption of Losses. 3.1 Siemens AG shall be obliged to assume the losses of the Subsidiary in accordance with the provisions of Section 302 of the German Stock Corporation Act (AktG), as amended from time to time. 3.2 If this agreement does not end prior to the expiration of the Subsidiary’s fiscal year, the entitlement to the assumption of losses shall arise at the end of the Subsidiary’s fiscal year and shall be due taking that date as value date. 3.3 The obligation to assume losses shall apply retroactively as of the beginning of the Subsidiary’s fiscal year in which this agreement becomes effective in accordance with Article 4.1.

Assumption of Losses. In accordance with the latest version of the provisions of § 302 of the German Public Companies Act, the CONTROLLING COMPANY is obliged to reimburse annual defi- cits occurring during the term of the agreement if these are not compensated for by amounts being withdrawn from the other retained profits which have resulted during the term of the agreement in which they were transferred.

Assumption of Losses. (1) Munich Reinsurance Company shall be obliged to assume any losses made by MR Beteiligungen 20. GmbH in accordance with the provisions of Section 302 of the German Stock Corporation Act (AktG), as amended from time to time (or corresponding subsequent regulation). (2) The right to assumption of losses shall arise at the end of MR Beteiligungen 20. GmbH’s financial year and shall be due as at that date or, in the event of the Agreement being terminated before that date, as at the date of termination of the agreement. (3) The obligation to assume losses shall apply retroactively from the beginning of the financial year of MR Beteiligungen 20. GmbH in which this Agreement takes effect.

Assumption of Losses. In accordance with Section 302 of the German Stock Corporation Act, RWE Plus shall be obliged to offset any net loss for the year incurred during the term of this Agreement - for the first time for the truncated financial year ending on 31 December 2002 - unless such loss is offset by drawing funds from uncommitted reserves in accordance with Section 2, Paragraph 2, Sentence 2 which have been transferred to other retained earnings during the term of this Agreement. In accordance with Section 302, Paragraph 3 of the German Stock Corporation Act, RWE Plus Headquarters shall refrain from renouncing its right to offset losses and from reaching a settlement on offsetting losses before three years from the day on which the registration of the termination of this Agreement in the Commercial Register pursuant to Section 10 of the German Commercial Code is deemed to have been made public.

Assumption of Losses. The controlling company undertakes toward the controlled company to assume the latter’s losses in accordance with the provisions of Section 302 AktG (German Stock Corporation Law) (in its entirety and in all its elements) in its applicable version (or provisions replacing it).

Assumption of Losses. 2.1 Siemens AG undertakes, pursuant to Section 302 (1) of the German Stock Cor- poration Act (AktG), in its mutatis mutandis application and as amended from time to time, to compensate any annual net loss of the Subsidiary that is other- wise incurred during the term of the Agreement, unless such loss is compensated by release of any amounts from the Subsidiary’s other retained earnings appropriated during the term of the Agreement. In all other respects, Section 302 of the German Stock Corporation Act (AktG), as amended from time to time, shall also apply mutatis mutandis. 2.2 The entitlement to compensation for any annual net loss that is otherwise in- curred shall arise as of the end of the Subsidiary’s fiscal year and shall be fulfilled taking that date as value date.