Common use of Belgian Terms Clause in Contracts

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. Without prejudice to the generality of any provision of the Loan DocumentsIn this Agreement, in each Loan Document where it relates to a Belgian entityLoan Party, a reference to: (a) a “liquidator”, “trustee in bankruptcy, judicial custodian, compulsory manager, receiver”, “administrator” administrator receiver, administrator or similar officer includes shall be deemed to include any insolventiefunctionaris/praticien de l’insolvabilité, curator/curator / curateur, vereffenaar/vereffenaar / liquidateur, voorlopig bewindvoerder/bewindvoerder / administrateur provisoire, ondernemingsbemiddelaar/médiateur d’entreprisemandataris ad hoc / mandataire ad hoc, as applicable, and sekwester/ondernemingsbemiddelaar / médiateur d'entreprise and sekwester / séquestre; (b) a “Security” person being unable to pay its debts is that person being in a state of cessation of payments (staking van betaling / cessation de paiements); (c) insolvency shall be deemed to include a gerechtelijke reorganisatie / réorganisation judiciaire, faillissement / faillite and any other concurrence between creditors (samenloop van schuldeisers / concours des créanciers); (d) suspension of payment, moratorium of any indebtedness or reorganisation shall be deemed to include any gerechtelijke reorganisatie / réorganisation judiciaire; (e) winding up, administration, liquidation or dissolution includes any vereffening / liquidation, ontbinding / dissolution, faillissement / faillite and sluiting van een onderneming / fermeture d'enterprise; (f) assignment, composition, compromise or similar arrangement with any creditor shall be deemed to include a minnelijk akkoord met alle schuldeisers/ accord amiable avec tous les créanciers or gerechtelijke reorganisatie / réorganisation judiciaire, as applicable; (g) attachment, sequestration, distress, execution or analogous events shall be deemed to include any uitvoerend beslag / saisie exécutoire and bewarend beslag / saisie conservatoire; (h) security interest or security shall be deemed to include any mortgage (hypotheek/hypotheek / hypothèque), pledge (pand/nantissement), any mandate to grant a mortgage, a pledge or any other real security (mandaat/mandatpand / gage), privilege (voorrecht/voorrecht / privilège), reservation of title arrangement retention right (eigendomsvoorbehoud/droit eigendomsvoorbehoud / réserve de rétentionpropriété), any real security in rem (zakelijke zekerheid/zekerheid / sûreté réelle) and any transfer by way of security (overdracht ten titel van zekerheid/zekerheid / transfert à titre de garantie)) and, in general, any right in rem created for the purpose of granting security and any promise or mandate to create any of the security interest mentioned above; (ci) a person being “unable to pay company which is organised under the laws of Belgium, incorporated in Belgium or which its debts” jurisdiction of incorporation is Belgium means that person being this company has its principal place of business (voornaamste vestiging / établissement principal) (within the meaning of the Belgian law of 16 July 2004 on conflicts of law code) in a state of cessation of payments (staking van betaling/cessation de paiements)Belgium; (dj) a “moratorium”an amalgamation, “composition”demerger, “assignment” merger, consolidation or similar arrangement corporate reconstruction includes a minnelijk akkoord met schuldeisers/accord amiable avec des créanciers or gerechtelijke reorganisatie/réorganisation judiciaireoverdracht van algemeenheid / transfert d'universalité, as applicableoverdracht van bedrijfstak / transfert de branche d'activité, splitsing / scission and fusie / fusion and assimilated transactions (gelijkgestelde verrichtingen / operations assimilées) in accordance with Articles 12.7 and 12.8 of the Belgian Code of Companies and Associations; (ek) an “insolvency” includes any insolventieprocedure/procédure d’insolvabilitéa subsidiary shall be deemed to include a dochtervennootschap / filiale as defined in Article 1:15 of the Belgian Code of Companies and Associations; and (l) the Belgian Code of Companies and Associations means the Belgian Wetboek van vennootschappen en verenigingen/ Code des sociétés et des associations dated 23 March 2019, faillissement/faillite, gerechtelijke reorganisatie/réorganisation judiciaire and any other concurrence between creditors (samenloop van schuldeisers/concours des créanciers);as amended from time to time.

Belgian Terms. Without prejudice to the generality of any provision of the Loan DocumentsIn this Agreement, in each Loan Document where it relates to a Belgian entityLoan Party, a reference to: (a) a “liquidator”, “trustee in bankruptcy, judicial custodian, compulsory manager, receiver”, “administrator” administrator receiver, administrator or similar officer includes shall be deemed to include any insolventiefunctionaris/praticien de l’insolvabilité, curator/curator / curateur, vereffenaar/vereffenaar / liquidateur, voorlopig bewindvoerder/bewindvoerder / administrateur provisoire, ondernemingsbemiddelaar/médiateur d’entreprisemandataris ad hoc / mandataire ad hoc, as applicable, and sekwester/ondernemingsbemiddelaar / médiateur d’entreprise and sekwester / séquestre; (b) a “Security” person being unable to pay its debts is that person being in a state of cessation of payments (staking van betaling / cessation de paiements); (c) insolvency shall be deemed to include a gerechtelijke reorganisatie / réorganisation judiciaire, faillissement / faillite and any other concurrence between creditors (samenloop van schuldeisers / concours des créanciers); (d) suspension of payment, moratorium of any indebtedness or reorganisation shall be deemed to include any gerechtelijke reorganisatie / réorganisation judiciaire; (e) winding up, administration, liquidation or dissolution includes any vereffening / liquidation, ontbinding / dissolution, faillissement / faillite and sluiting van een onderneming / fermeture d’enterprise; (f) assignment, composition, compromise or similar arrangement with any creditor shall be deemed to include a minnelijk akkoord met alle schuldeisers/ accord amiable avec tous les créanciers or gerechtelijke reorganisatie / réorganisation judiciaire, as applicable; (g) attachment, sequestration, distress, execution or analogous events shall be deemed to include any uitvoerend beslag / saisie exécutoire and bewarend beslag / saisie conservatoire; (h) security interest or security shall be deemed to include any mortgage (hypotheek/hypotheek / hypothèque), pledge (pand/nantissement), any mandate to grant a mortgage, a pledge or any other real security (mandaat/mandatpand / gage), privilege (voorrecht/voorrecht / privilège), reservation of title arrangement retention right (eigendomsvoorbehoud/droit eigendomsvoorbehoud / réserve de rétentionpropriété), any real security in rem (zakelijke zekerheid/zekerheid / sûreté réelle) and any transfer by way of security (overdracht ten titel van zekerheid/zekerheid / transfert à titre de garantie) and, in general, any right in rem created for the purpose of granting security and any promise or mandate to create any of the security interest mentioned above; (i) a company which is organised under the laws of Belgium, incorporated in Belgium or which its jurisdiction of incorporation is Belgium means that this company has its principal place of business (voornaamste vestiging / établissement principal) (within the meaning of the Belgian law of 16 July 2004 on conflicts of law code) in Belgium; (j) an amalgamation, demerger, merger, consolidation or corporate reconstruction includes a overdracht van algemeenheid / transfert d’universalité, overdracht van bedrijfstak / transfert de branche d’activité, splitsing / scission and fusie / fusion and assimilated transactions in accordance with Articles 676 and 677 of the Belgian Companies Code (gelijkgestelde verrichtingen / operations assimilées); (ck) a person being “unable subsidiary shall be deemed to pay its debts” is that person being include a dochtervennootschap / filiale as defined in a state Article 6 of cessation of payments (staking van betaling/cessation de paiements);the Belgian Companies Code; and (dl) a “moratorium”, “composition”, “assignment” or similar arrangement includes a minnelijk akkoord met schuldeisers/accord amiable avec the Belgian Companies Code means the Belgian Wetboek van vennootschappen / Code des créanciers or gerechtelijke reorganisatie/réorganisation judiciairesociétés dated 7 May 1999, 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);amended from time to time.

Belgian Terms. Without prejudice to the generality of any provision of the Loan DocumentsIn this Agreement, in each Loan Document where it relates to a Belgian entityLoan Party, a reference to: (a) a “liquidator”, “trustee in bankruptcy, judicial custodian, compulsory manager, receiver”, “administrator” administrator receiver, administrator or similar officer includes shall be deemed to include any insolventiefunctionaris/praticien de l’insolvabilité, curator/curator / curateur, vereffenaar/vereffenaar / liquidateur, voorlopig bewindvoerder/bewindvoerder / administrateur provisoire, ondernemingsbemiddelaar/médiateur d’entreprisemandataris ad hoc / mandataire ad hoc, as applicable, and sekwester/ondernemingsbemiddelaar / médiateur d'entreprise and sekwester / séquestre; (b) a “Security” person being unable to pay its debts is that person being in a state of cessation of payments (staking van betaling / cessation de paiements); (c) insolvency shall be deemed to include a gerechtelijke reorganisatie / réorganisation judiciaire, faillissement / faillite and any other concurrence between creditors (samenloop van schuldeisers / concours des créanciers); (d) suspension of payment, moratorium of any indebtedness or reorganisation shall be deemed to include any gerechtelijke reorganisatie / réorganisation judiciaire; (e) winding up, administration, liquidation or dissolution includes any vereffening / liquidation, ontbinding / dissolution, faillissement / faillite and sluiting van een onderneming / fermeture d'enterprise; (f) assignment, composition, compromise or similar arrangement with any creditor shall be deemed to include a minnelijk akkoord met alle schuldeisers/ accord amiable avec tous les créanciers or gerechtelijke reorganisatie / réorganisation judiciaire, as applicable; (g) attachment, sequestration, distress, execution or analogous events shall be deemed to include any uitvoerend beslag / saisie exécutoire and bewarend beslag / saisie conservatoire; (h) security interest or security shall be deemed to include any mortgage (hypotheek/hypotheek / hypothèque), pledge (pand/nantissement), any mandate to grant a mortgage, a pledge or any other real security (mandaat/mandatpand / gage), privilege (voorrecht/voorrecht / privilège), reservation of title arrangement retention right (eigendomsvoorbehoud/droit eigendomsvoorbehoud / réserve de rétentionpropriété), any real security in rem (zakelijke zekerheid/zekerheid / sûreté réelle) and any transfer by way of security (overdracht ten titel van zekerheid/zekerheid / transfert à titre de garantie)) and, in general, any right in rem created for the purpose of granting security and any promise or mandate to create any of the security interest mentioned above; (ci) a person being “unable to pay company which is organised under the laws of Belgium, incorporated in Belgium or which its debts” jurisdiction of incorporation is Belgium means that person being this company has its principal place of business (voornaamste vestiging / établissement principal) (statutory seat (statutaire zetel/siège statutaire within the meaning of the Belgian law of 16 July 2004 on conflicts of law codeCode of Companies and Associations) in a state of cessation of payments (staking van betaling/cessation de paiements)Belgium; (dj) a “moratorium”an amalgamation, “composition”demerger, “assignment” merger, consolidation or similar arrangement corporate reconstruction includes a minnelijk akkoord met schuldeisers/accord amiable avec des créanciers or gerechtelijke reorganisatie/réorganisation judiciaireoverdracht van algemeenheid / transfert d'universalité, as applicableoverdracht van bedrijfstak / transfert de branche d'activité, splitsing / scission and fusie / fusion and assimilated transactions (gelijkgestelde verrichtingen / operations assimilées) in accordance with Articles 12.7 and 12.8 of the Belgian Code of Companies and Associations; (ek) an “insolvency” includes any insolventieprocedure/procédure d’insolvabilitéa subsidiary shall be deemed to include a dochtervennootschap / filiale as defined in Article 1:15 of the Belgian Code of Companies and Associations; and (l) the Belgian Code of Companies and Associations means the Belgian Wetboek van vennootschappen en verenigingen/ Code des sociétés et des associations dated 23 March 2019, faillissement/faillite, gerechtelijke reorganisatie/réorganisation judiciaire and any other concurrence between creditors (samenloop van schuldeisers/concours des créanciers);as amended from time to time.

Belgian Terms. Without prejudice to the generality of any provision of the Loan DocumentsIn this Agreement, in each Loan Document where it relates to a Belgian entityLoan Party, a reference to: (a) a “liquidator”, “trustee in bankruptcy, judicial custodian, compulsory manager, receiver”, “administrator” administrator receiver, administrator or similar officer includes shall be deemed to include any insolventiefunctionaris/praticien de l’insolvabilité, curator/curator / curateur, vereffenaar/vereffenaar / liquidateur, voorlopig bewindvoerder/bewindvoerder / administrateur provisoire, ondernemingsbemiddelaar/médiateur d’entreprisemandataris ad hoc / mandataire ad hoc, as applicable, and sekwester/ondernemingsbemiddelaar / médiateur d’entreprise and sekwester / séquestre; (b) a “Security” person being unable to pay its debts is that person being in a state of cessation of payments (staking van betaling / cessation de paiements); (c) insolvency shall be deemed to include a gerechtelijke reorganisatie / réorganisation judiciaire, faillissement / faillite and any other concurrence between creditors (samenloop van schuldeisers / concours des créanciers); (d) suspension of payment, moratorium of any indebtedness or reorganisation shall be deemed to include any gerechtelijke reorganisatie / réorganisation judiciaire; (e) winding up, administration, liquidation or dissolution includes any vereffening / liquidation, ontbinding / dissolution, faillissement / faillite and sluiting van een onderneming / fermeture d’enterprise; (f) assignment, composition, compromise or similar arrangement with any creditor shall be deemed to include a minnelijk akkoord met alle schuldeisers/ accord amiable avec tous les créanciers or gerechtelijke reorganisatie / réorganisation judiciaire, as applicable; (g) attachment, sequestration, distress, execution or analogous events shall be deemed to include any uitvoerend beslag / saisie exécutoire and bewarend beslag / saisie conservatoire; (h) security interest or security shall be deemed to include any mortgage (hypotheek/hypotheek / hypothèque), pledge (pand/nantissement), any mandate to grant a mortgage, a pledge or any other real security (mandaat/mandatpand / gage), privilege (voorrecht/voorrecht / privilège), reservation of title arrangement retention right (eigendomsvoorbehoud/droit eigendomsvoorbehoud / réserve de rétentionpropriété), any real security in rem (zakelijke zekerheid/zekerheid / sûreté réelle) and any transfer by way of security (overdracht ten titel van zekerheid/zekerheid / transfert à titre de garantie)) and, in general, any right in rem created for the purpose of granting security and any promise or mandate to create any of the security interest mentioned above; (ci) a person being “unable to pay company which is organised under the laws of Belgium, incorporated in Belgium or which its debts” jurisdiction of incorporation is Belgium means that person being this company has its principal place of business (voornaamste vestiging / établissement principal) (within the meaning of the Belgian law of 16 July 2004 on conflicts of law code) in a state of cessation of payments (staking van betaling/cessation de paiements)Belgium; (dj) a “moratorium”an amalgamation, “composition”demerger, “assignment” merger, consolidation or similar arrangement corporate reconstruction includes a minnelijk akkoord met schuldeisers/accord amiable avec des créanciers or gerechtelijke reorganisatie/réorganisation judiciaireoverdracht van algemeenheid / transfert d’universalité, as applicableoverdracht van bedrijfstak / transfert de branche d’activité, splitsing / scission and fusie / fusion and assimilated transactions in accordance with Articles 676 and 677 of the Belgian Companies Code (gelijkgestelde verrichtingen / operations assimilées) in accordance with Articles 12.7 and 12.8 of the Belgian Code of Companies and Associations; (ek) an “insolvency” includes any insolventieprocedure/procédure d’insolvabilitéa subsidiary shall be deemed to include a dochtervennootschap / filiale as defined in Article 61:15 of the Belgian Companies Code of Companies and Associations; and (l) the Belgian Companies Code of Companies and Associations means the Belgian Wetboek van vennootschappen en verenigingen/ Code des sociétés et des associations dated 7 May 199923 March 2019, faillissement/faillite, gerechtelijke reorganisatie/réorganisation judiciaire and any other concurrence between creditors (samenloop van schuldeisers/concours des créanciers);as amended from time to time.

Belgian Terms. Without prejudice to the generality of any provision of the Loan DocumentsIn this Agreement, in each Loan Document where it relates to a Belgian entityLoan Party, a reference to: (a) a “subsidiary” or “Subsidiary” shall be deemed to include a dochtervennootschap/filiale as defined in Article 1:15 of the Belgian Code of Companies and Associations; (b) “gross negligence” is a reference to zware xxxx/faute grave and “wilful misconduct” is a reference to opzet/intention; (c) a “liquidator”, “trustee in bankruptcy”, “compulsory manager”, “receiver”, “administrative receiver”, “administrator” or similar officer includes any insolventiefunctionaris/praticien de l’insolvabilitél’ insolvabilit é , curator/curateur, vereffenaar/liquidateur, gedelegeerd rechter/juge dé l é gu é , ondernemingsbemiddelaar/mé diateur d’ entreprise, gerechtsmandataris/ mandataire de justice, voorlopig bewindvoerder/administrateur provisoire, ondernemingsbemiddelaargerechtelijk bewindvoerder/médiateur d’entrepriseadministrateur judiciaire, as applicable, mandataris ad hoc/mandataire ad hoc and any sekwester/séquestres é questre; (bd) a “Securitysuspension of payments”, “moratorium of any indebtedness”, or “reorganisation” includes any gerechtelijke reorganisatie/ré organisation judiciaire; (e) an “insolvency” includes any insolventieprocedure/procedure d’ insolvabilit é , gerechtelijke reorganisatie/ré organisation judiciaire, faillissement/faillite and any other concurrence between creditors (samenloop van schuldeisers/concours des cré anciers ); (f) a “security interest”, “security” or “Lien” includes a mortgage (hypotheek/hypothèquehypoth è que), a pledge (pand/nantissementgage), 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); , any other proprietary security interest (czakelijke zekerheid/sû ret é r é elle ), a mandate to grant a mortgage, a pledge or any other real surety, a privilege (voorrecht/privil è ge) and a person being “unable to pay its debts” is that person being in a state retention of cessation of payments title (staking van betalingeigendomsvoorbehoud/cessation ré serve de paiementsproprié t é ); (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);