Belgian Terms. (a) In this Agreement, where it relates to any Belgian entity or Security, a reference to:
(i) gross negligence means zware xxxx/faute grave;
(ii) wilful misconduct means opzet/intention;
(iii) a liquidator, receiver, administrative receiver, administrator, compulsory manager or other similar officer includes any vereffeningsdeskundige/praticien de la liquidation, herstructureringsdeskundige/praticien de la réorganisation, curator/curateur, vereffenaar/liquidateur, gedelegeerd rechter/juge délégué, gerechtsmandataris/mandataire de justice, voorlopig bewindvoerder/administrateur provisoire, mandataris ad hoc/mandataire ad hoc, ondernemingsbemiddelaar/médiateur d’entreprise, as applicable;
(iv) a person being unable to pay its debts is that person being in a state of cessation of payments (staking van betaling/cessation de paiements);
(v) a suspension of payments, moratorium of any indebtedness or reorganisation includes any of those terms in the context of any gerechtelijke reorganisatie/réorganisation judiciaire, overdracht onder gerechtelijk gezag/transfert sous autorité judiciaire, staking van betaling/cessation de paiements or any other legal proceeding based on Book XX, Title V/I (Insolventie van Ondernemingen/Insolvabilité des entreprises – Gerechtelijke reorganisatie / Réorganisation judiciaire) or Title V/II (Insolventie van Ondernemingen/Insolvabilité des entreprises – Overdracht onder gerechtelijk gezag/Transfert sous autorité judiciaire) of the Belgian Code of Economic Law (Wetboek van economisch recht/Code de droit économique);
(vi) commences negotiations with one or more of its creditors with a view to rescheduling any of its indebtedness includes any negotiations conducted with a view to reaching a settlement agreement (minnelijk akkoord/accord amiable) with one or more of its creditors pursuant to Book XX, Title IV (Minnelijk akkoord buiten gerechtelijke reorganisatie/Accord amiable hors réorganisation judiciaire), Book XX, Title V/1, Chapter 1 (Openbare gerechtelijke reorganisatie door een minnelijk akkoord/ Réorganisation judiciaire publique par accord amiable), or Book XX, Title V/1, Chapter 4, Section 2 (Besloten gerechtelijke reorganisatie door een minnellijk akkoord/Réorganisation judiciaire privée par accord amiable) of the Belgian Code of Economic Law (Wetboek van economisch recht/Code de droit économique);
(vii) a composition, compromise, assignment or arrangement includes a settlement agreement outside judicial reorganisation (minne...
Belgian Terms. Without prejudice to the generality of any provision of the Loan Documents, in each Loan Document where it relates to a Belgian entity, a reference to:
(a) a “liquidator”, “receiver”, “administrator” or similar officer includes any insolventiefunctionaris/praticien de l’insolvabilité, curator/curateur, vereffenaar/liquidateur, voorlopig bewindvoerder/administrateur provisoire, ondernemingsbemiddelaar/médiateur d’entreprise, as applicable, and sekwester/séquestre;
(b) a “Security” includes any mortgage (hypotheek/hypothèque), pledge (pand/nantissement), any mandate to grant a mortgage, a pledge or any other real security (mandaat/mandat), privilege (voorrecht/privilège), reservation of title arrangement (eigendomsvoorbehoud/droit de rétention), any real security (zakelijke zekerheid/sûreté réelle) and any transfer by way of security (overdracht ten titel van zekerheid/transfert à titre de garantie);
(c) a person being “unable to pay its debts” is that person being in a state of cessation of payments (staking van betaling/cessation de paiements);
(d) a “moratorium”, “composition”, “assignment” or similar arrangement includes a minnelijk akkoord met schuldeisers/accord amiable avec des créanciers or gerechtelijke reorganisatie/réorganisation judiciaire, as applicable;
(e) an “insolvency” includes any insolventieprocedure/procédure d’insolvabilité, faillissement/faillite, gerechtelijke reorganisatie/réorganisation judiciaire and any other concurrence between creditors (samenloop van schuldeisers/concours des créanciers);
Belgian Terms. 2.2.1 In this Loan Agreement, where it relates to any Belgian entity or any Security Interest governed by Belgian law, any reference to:
(i) a “liquidator”, “receiver”, “administrator”, “compulsory manager” or other similar officer includes any curator/curateur, vereffenaar/liquidateur, voorlopig bewindvoerder/administrateur provisoire, gerechtelijk deskundige/expert judiciaire, mandataris ad hoc/mandataire ad hoc, ondernemingsbemiddelaar/médiat eur d’entreprise, as applicable, and sekwester/sequester;
Belgian Terms. Insofar as it applies to a Belgian Obligor or any other member of the Group incorporated in Belgium, a reference in this Agreement to:
Belgian Terms. Without prejudice to the generality of any provision of this Agreement, in this Agreement where it relates to a Belgian Loan Party, a reference to:
(a) a winding up or liquidation includes a Belgian entity being declared bankrupt (failliet verklaard/declaree en faillite) or dissolved (ontbonden/dissoute);
(b) a moratorium includes gerechtelijke reorganisatie/reorganization judiciaire;
(c) insolvency includes a bankruptcy and moratorium;
(d) a receiver includes a curator/curateur;
(e) an administrator includes a bewindvoerder/administrateur;
Belgian Terms. In this Agreement, where it relates to a Belgian Loan Party, a reference to:
(a) a “liquidator”, “receiver”, “administrative receiver”, “administrator” or similar officer includes without limitation any curator/curateur, vereffenaar/liquidateur, gedelegeerd rechter/juge délégué, gerechtsmandataris/ mandataire de justice, voorlopig bewindvoerder/administrateur judiciaire, gerechtelijk bewindvoerder/administrateur judiciaire, mandataris ad hoc/mandataire ad hoc and sekwester/séquestre;
(b) a “suspension of payments”, “moratorium of any indebtedness”, “winding-up”, “dissolution”, “administration” or “reorganisation” includes without limitation any vereffening/liquidation, ontbinding/dissolution, faillissement/faillite or sluiting van een onderneming/fermeture d’entreprise;
Belgian Terms. All references herein in the context of Belgian law or a Belgian Loan Party to: (a) a receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer includes any curator/curateur, vereffenaar/liquidateur, voorlopig bewindvoerder/administrateur judiciaire, ondernemingsbemiddelaar/médiateur d'entreprise, as applicable; 42 CHAR1\1707916v5
(b) a security interest includes any mortgage (hypotheek/hypothèque), mortgage mandate (hypothecair mandaat/mandat hypothécair), pledge (pand/nantissement), privilege (voorrecht/privilège), retention right (eigendomsvoorbehoud/droit de retention), any real surety (zakelijke zekerheid/sûreté réelle) and any transfer by way of security (overdracht ten titel van zekerheid/transfert à titre de garantie);
Belgian Terms. In this Agreement, where it relates to a Belgian entity, a reference to:
(a) gross negligence means zware xxxx/faute grave;
(b) wilful misconduct means opzet/intention;
(c) a liquidator, trustee in bankruptcy, judicial custodian, compulsory manager, receiver, administrator receiver, administrator or similar officer includes a curator/curateur, verefferaar/liquidateur, voorlopig bewindvoerder/adminstrateur provisoire, commissaris inzake opschorting/commissaire au sursis, mandataris ad hoc / mandataire ad hoc and sekwester/séquestre;
(d) a security includes a mortgage (hypotheek/hypothèque), a pledge (pand/nantissement), a privilege (voorrecht/privilège), a retention of title (eigendomsvoorbehoud/réserve de propriété), a real surety (zakelijke zekerheid/sûreté réelle), a transfer by way of security (overdracht ten titel van zekerheid/transfert à titre de garantie) and a promise or mandate to create any of the security interest mentioned above;
(e) a moratorium, composition, assignment or similar arrangement with any creditor means gerechtelijke reorganisatie/réorganisation judiciaire and minnelijk akkoord met alle schuldeisers/accord amiable avec tous les créanciers;
(f) an insolvency includes gerechtelijke reorganisatie/réorganisation judiciaire, faillissement/faillite and any other concurrence between creditors (samenloop van schuldeisers/concours des créanciers);
(g) a winding up, liquidation, administration or dissolution means vereffening/liquidation (vrijwillig of niet vrijwillig / volontaire ou involontaire), ontbinding/dissolution, faillissement/faillite and sluiting van een onderneming/fermeture d’enterprise;
(h) an attachment, sequestration, distress, execution or analogous events means uitvoerend beslag/saisie exécutoire and bewarend beslag/saisie conservatoire;
(i) guarantee means, only for the purpose of the guarantee granted by a Guarantor incorporated in Belgium pursuant to Clause 17 (Guarantee and indemnity), an independent guarantee and not a surety (borg/cautionnement); and
(j) an Obligor being incorporated in Belgium or of which its jurisdiction of incorporation is Belgium, means that such Obligor has its habitual residence (within the meaning of the Belgian Law of 16 July 2004 on the conflicts of law code) in Belgium.
Belgian Terms. 2.2.1 In this Loan Agreement, where it relates to any Belgian entity or any Security Interest governed by Belgian law, any reference to:
(i) a “liquidator”, “receiver”, “administrator”, “compulsory manager” or other similar officer includes any curator/curateur, vereffenaar/liquidateur, voorlopig bewindvoerder/administrateur provisoire, gerechtelijk deskundige/expert judiciaire, mandataris ad hoc/mandataire ad hoc, ondernemingsbemiddelaar/médiat eur d’entreprise, as applicable, and sekwester/sequester;
(ii) a “Security Interest” includes any mortgage (hypotheek/hypothèque), pledge (pand/nantissement), any mandate to grant a mortgage, a pledge or any other real security (mandaat/mandat), privilege (voorrecht/privilège), reservation of title arrangement (eigendomsvoorbehoud/réserve de propriété), any in rem security (zakelijke zekerheid/sûreté réelle) and any transfer by way of security (overdracht ten titel van zekerheid/transfert à titre de sûreté);
(iii) a “moratorium” or “reorganisation” includes any gerechtelijke reorganisatie/réorganisation judiciaire;
(iv) a “composition” or “arrangement” includes a minnelijk akkoord met schuldeisers/accord amiable avec des créanciers or gerechtelijke reorganisatie/réorganisation judiciaire, as applicable;
