Common use of Dutch Terms Clause in Contracts

Dutch Terms. In this Agreement, where it relates to a Dutch person or the context so requires, a reference to (i) ‘works council’ means each works council (ondernemingsraad) or central or group works council (centrale of groeps ondernemingsraad) within the meaning of the Works Councils Act of the Netherlands (Wet op de ondernemingsraden) having jurisdiction over that person, (ii) the execution, delivery and performance of any document or action having been ‘duly authorized’ includes any action required to comply with the Works Councils Act of the Netherlands (Wet op de ondernemingsraden) and obtaining an unconditional positive advice (advies) from the competent works council(s), (iii) ‘constituent documents’ means the deed of incorporation (akte van oprichting), articles of association (statuten), and an up-to-date extract of the Trade Register of the Dutch Chamber of Commerce relating to that person, (iv) a ‘bankruptcy’, ‘winding-up’, ‘liquidation’ or ‘dissolution’ includes that person being declared bankrupt (failliet verklaard) or dissolved (ontbonden), (v) a ‘moratorium’ includes (voorlopige) surseance van betaling, (vi) ‘admit in writing its inability or fail generally to pay its debts’ includes that person having filed a notice under Section 36 of the Tax Collection Act of the Netherlands (Invorderingswet 1990) or Section 60 of the Social Insurance Financing Act of the Netherlands (Wet Financiering Sociale Verzekeringen) in conjunction with Section 36 of the Tax Collection Act of the Netherlands (Invorderingswet 1990), (vii) a ‘liquidator’ or ‘trustee in bankruptcy’ includes a curator or a beoogd curator, (viii) an ‘administrator’ includes a bewindvoerder or a beoogd bewindvoerder, and (ix) a ‘lien’ includes any mortgage (hypotheek), pledge (pandrecht), retention of title arrangement (eigendomsvoorbehoud), privilege (voorrecht), right of retention (recht van retentie), right to reclaim goods (recht van reclame), and any right in rem (beperkt recht), created for the purpose of granting security (goederenrechtelijk zekerheidsrecht).

Dutch Terms. In this Agreement, where it relates to a the Dutch person or the context so requiresBorrower, a reference to: (a) an action to authorize, where applicable, includes without limitation: (i) ‘works council’ means each works council (ondernemingsraad) or central or group works council (centrale of groeps ondernemingsraad) within the meaning of the Works Councils Act of the Netherlands (Wet op de ondernemingsraden) having jurisdiction over that person, (ii) the execution, delivery and performance of any document or action having been ‘duly authorized’ includes any action required to comply with the Dutch Works Councils Act of the Netherlands (Wet op de ondernemingsraden); and (ii) and obtaining an unconditional a positive advice (positief advies) from the competent works council(s), ; (iii) ‘constituent documents’ means the deed of incorporation (akte van oprichting), articles of association (statuten), and an up-to-date extract of the Trade Register of the Dutch Chamber of Commerce relating to that person, (iv) a ‘bankruptcy’, ‘winding-up’, ‘liquidation’ or ‘dissolution’ includes that person being declared bankrupt (failliet verklaard) or dissolved (ontbonden), (v) a ‘moratorium’ includes (voorlopige) surseance van betaling, (vi) ‘admit in writing its inability or fail generally to pay its debts’ includes that person having filed a notice under Section 36 of the Tax Collection Act of the Netherlands (Invorderingswet 1990) or Section 60 of the Social Insurance Financing Act of the Netherlands (Wet Financiering Sociale Verzekeringen) in conjunction with Section 36 of the Tax Collection Act of the Netherlands (Invorderingswet 1990), (vii) a ‘liquidator’ or ‘trustee in bankruptcy’ includes a curator or a beoogd curator, (viiib) an ‘administrator’ includes a bewindvoerder or a beoogd bewindvoerder, and (ix) a ‘lien’ encumbrance includes any mortgage (hypotheek), pledge (pandrecht), retention of title arrangement (eigendomsvoorbehoud), privilege (voorrecht), right of retention (recht van retentie), right to reclaim goods (recht van reclame), and and, in general, any right in rem (beperkt recht), whether or not created for the purpose of granting security (goederenrechtelijk zekerheidsrecht); (c) a surety includes a borg; (d) a winding-up, bankruptcy, insolvency, administration or dissolution includes a Dutch person being declared bankrupt (failliet verklaard) or dissolved (ontbonden); (e) a reorganization includes a surséance van betaling; (f) filing a petition seeking to take advantage of laws relating to bankruptcy, insolvency, reorganization, winding up or composition for adjustment of debts includes a Dutch person having filed a notice under section 36 of the Tax Collection Act of the Netherlands (Invorderingswet 1990); (g) a trustee, receiver, administrative receiver or administrator includes a curator; (h) an administrator, custodian or compulsory manager includes a bewindvoerder; (i) a liquidator includes a vereffenaar; (j) an attachment includes a beslag; (k) a subsidiary includes a dochtermaatschappij; (l) an affiliate includes a groepsmaatschappij; (m) a director includes a bestuurder; (n) articles of incorporation include an akte van oprichting containing statuten; (o) a collective bargaining agreement includes a collectieve arbeidsovereenkomst; and (p) a labor union includes a vakbond.

Dutch Terms. In As used in this Agreement, where it relates to a Dutch person or the context so requiresLoan Party, a reference to to: (i) ‘works council’ organizational documents means each works council the deed of incorporation (ondernemingsraadakte van oprichting), articles of association (statuten) or central or group works council (centrale of groeps ondernemingsraad) within the meaning and an extract of the Works Councils Act Dutch Chamber of the Netherlands Commerce (Wet op de ondernemingsraden) having jurisdiction over that personXxxxx van Koophandel), (ii) the execution, delivery and performance of any document a necessary corporate or other organizational action having been ‘duly authorized’ where applicable includes without limitation: (A) any action required to comply with the Works Councils Act of the Netherlands (Wet op de ondernemingsraden); and (B) obtaining a positive or neutral advice, which, if conditional, contains conditions which in the opinion of the Administrative Agent are acceptable and obtaining an unconditional positive advice (advies) can reasonably be expected to be satisfied by the relevant Dutch Loan Party without breaching the terms of any Loan Document, from the competent works council(s), ; (iii) ‘constituent documents’ means the deed of incorporation any Lien and any security interest includes any mortgage (akte van oprichtinghypotheek), articles of association pledge (statutenpandrecht), and an up-to-date extract retention of title arrangement (eigendomsvoorbehoud), privilege (voorrecht), right of retention (recht van retentie), right to reclaim goods (recht van reclame), and, in general, any right in rem (zakelijk recht) created for the Trade Register purpose of the Dutch Chamber of Commerce relating to that person, granting security (goederenrechtelijk zekerheidsrecht); (iv) a ‘bankruptcy’, ‘winding-insolvency, liquidation, winding up’, ‘liquidation’ or ‘dissolution’ dissolution (and any of those terms) includes that person a Dutch entity being declared bankrupt (failliet verklaard) or dissolved (ontbonden), ; (v) a ‘moratorium’ moratorium includes (voorlopige) surseance van betaling, betaling and granted a moratorium includes (voorlopige) surseance verleend; (vi) ‘admit a trustee, includes a curator and a liquidator includes a curator; (vii) an administrator includes a bewindvoerder, a beoogd bewinvoerder, a herstructureringsdeskundige or an observator, (viii) a receiver or an administrative receiver does not include a curator or bewindvoerder; (ix) any “procedure or step” taken in writing its inability or fail generally to pay its debts’ connection with insolvency proceedings includes that person a Dutch Loan Party having filed a notice under Section 36 of the Tax Collection Act of the Netherlands (Invorderingswet 1990) or Section 60 of the Social Insurance Financing Act of the Netherlands (Wet Financiering Sociale Verzekeringen) in conjunction with Section 36 of the Tax Collection Act of the Netherlands (Invorderingswet 1990) (x) an attachment includes a beslag, (xi) a director includes a managing director (bestuurder) and board of directors includes a managing board (bestuur), and (xii) a reorganization includes statutory proceedings for the restructuring of debt (akkoordprocedure) under the Dutch Bankruptcy Act (Faillissementswet), (viixiii) a ‘liquidator’ or ‘trustee in bankruptcy’ director includes a curator or a beoogd curator, managing director (viiibestuurder) an ‘administrator’ and board of directors includes a bewindvoerder or a beoogd bewindvoerder, managing board (bestuur) and (ixxiv) a ‘lien’ “subsidiary” includes any mortgage a dochtermaatschappij as defined in Article 2:24a of the Dutch Civil Code (hypotheekBurgerlijk Wetboek), pledge (pandrecht), retention . Where “the Netherlands” or “Dutch” is referred to it refers only to the European part of title arrangement (eigendomsvoorbehoud), privilege (voorrecht), right the Kingdom of retention (recht van retentie), right to reclaim goods (recht van reclame), the Netherlands and any right in rem (beperkt recht), created for the purpose of granting security (goederenrechtelijk zekerheidsrecht)its laws respectively.

Dutch Terms. In this Agreement, where it relates to a Dutch person or the context so requiresentity, a reference to: (a) “the Netherlands” refers to (i) ‘works council’ means each works council (ondernemingsraad) or central or group works council (centrale of groeps ondernemingsraad) within the meaning part of the Works Councils Act Kingdom of the Netherlands located in Europe (Wet op de ondernemingsradenand all derivative terms, including “Dutch” shall be construed accordingly); (b) having jurisdiction over that person, (ii) the execution, delivery and performance of any document an “action to authorize” or action having been ‘“duly authorized’ ”, where applicable, includes without limitation any action required to comply with the Dutch Works Councils Council Act of the Netherlands (Wet op de ondernemingsraden); (c) and obtaining an unconditional positive advice (advies) from the competent works council(s)any “liquidation”, (iii) ‘constituent documents’ means the deed of incorporation (akte van oprichting)“bankruptcy”, articles of association (statuten), and an up-to-date extract of the Trade Register of the “insolvency” or “dissolution” includes a Dutch Chamber of Commerce relating to that person, (iv) a ‘bankruptcy’, ‘winding-up’, ‘liquidation’ or ‘dissolution’ includes that person entity being declared bankrupt (failliet verklaard) or dissolved (ontbonden), ; (vd) a ‘moratorium’ any voluntary procedure or step taken seeking reorganization or other relief includes (voorlopige) surseance van betaling, (vi) ‘admit in writing its inability or fail generally to pay its debts’ includes that person such Dutch entity having filed (i) a notice under Section 36 of the Tax Collection Act of the Netherlands (Invorderingswet 1990) or Section 60 of the Social Insurance Financing Act of the Netherlands (Wet Financiering Sociale Verzekeringen) in conjunction with Section 36 of the Tax Collection Act of the Netherlands (Invorderingswet 1990), ) or (viiii) a ‘declaration under article 370(3) of the Dutch Bankruptcy Act (Faillissementswet);a “trustee” in any bankruptcy or insolvency proceeding or a “liquidator’ or ‘trustee in bankruptcy’ ” includes a curator or a beoogd curator, ; (viiie) an ‘“administrator’ ” or "conservator" includes a bewindvoerder or a beoogd bewindvoerder, and a herstructureringsdeskundige or a observator; (ixf) an “attachment” includes a beslag; (g) “gross negligence” means grove xxxxxx; (h) “indemnify” means vrijwaren; (i) “negligence” means xxxxxx; (j) “bad faith” means kwade trouw; (k) “willful misconduct” means opzet; (l) a ‘lien’ “security interest” or “security” includes any mortgage (hypotheek), pledge (pandrecht), retention of title arrangement (eigendomsvoorbehoud), privilege (voorrecht), right of retention (recht van retentie), right to reclaim goods (recht van reclame), and and, in general, any right in rem (beperkt recht), created for the purpose of granting security (goederenrechtelijk zekerheidsrecht); and (m) a “moratorium” or “suspension of payments” includes a surseance van betaling and granted a moratorium or suspension of payments includes surseance verleend.

Dutch Terms. In this Agreement, where it relates With respect to a Dutch person or Loan Party incorporated in the context so requiresNetherlands, a reference to (i) ‘works council’ means each works council (ondernemingsraad) or central or group works council (centrale of groeps ondernemingsraad) within the meaning of the Works Councils Act of the Netherlands (Wet op de ondernemingsraden) having jurisdiction over that person, (ii) the execution, delivery and performance of any document or action having been ‘duly authorized’ includes any action required to comply with the Works Councils Act of the Netherlands (Wet op de ondernemingsraden) and obtaining an unconditional positive advice (advies) from the competent works council(s), (iii) ‘constituent documents’ means the deed of incorporation (akte van oprichting), articles of association (statuten), and an up-to-date extract of the Trade Register of the Dutch Chamber of Commerce relating to that person, (iv) a ‘bankruptcy’, ‘“winding-up’”, ‘liquidation’ “administration” or ‘“dissolution’ ” includes that person a Dutch entity being declared bankrupt (failliet verklaard) or dissolved (ontbonden), (vii) a ‘“trustee in bankruptcy” or “administrative receiver” includes a curator, (iii) an “administrator” includes a bewindvoerder, (iv) a “moratorium’ ” includes any suspension of payments proceedings (voorlopige) surseance van betaling) and a “moratorium declared” includes any suspensions of payments granted (surseance verleend), (viv) ‘admit in writing its inability or fail generally to pay its debts’ an insolvency proceeding includes that person a Dutch entity having filed a notice under Section 36 of the Tax Collection Act of the Netherlands (Invorderingswet 1990) or Section 60 of the Social Insurance Financing Act of the Netherlands (Wet Financiering Sociale Verzekeringen) in conjunction with Section 36 of the Tax Collection Act of the Netherlands (Invorderingswet 1990)) not being a payment extension requested in accordance with the decree of the Dutch State Secretary of Finance of January 2022, nr. 2022 – 2085 (as amended from time to time) and any additional extension requested in accordance with such decree, (viivi) a ‘liquidator’ or ‘trustee in bankruptcy’ includes a curator or a beoogd curator, (viii) an ‘administrator’ includes a bewindvoerder or a beoogd bewindvoerder, and (ix) a ‘lien’ “Lien” includes any mortgage (hypotheek), pledge (pandrecht), retention of title arrangement (eigendomsvoorbehoud), privilege (voorrecht), right of retention (recht van retentie)) and in general, right to reclaim goods (recht van reclame), and any right in rem (beperkt recht), created for the purpose of granting security (goederenrechtelijk zekerheidsrecht), (vii) any action to authorize includes any action required to comply with the Dutch Works Councils Act (Wet op de Ondernemingsraden) and obtaining an unconditional positive advice from any competent works council, (viii) board of directors shall refer to the managing board (bestuur) and a director shall refer to a member of the management board (bestuurder), (ix) “gross negligence” includes a beslag, (x) wilful misconduct means opzet, and (xi) an “attachment” includes a beslag.

Dutch Terms. In this Agreement, where it relates to a Dutch person or the context so requires, a reference to (i) ‘'works council’ ' means each works council (ondernemingsraad) or central or group works council (centrale of groeps ondernemingsraad) within the meaning of the Works Councils Act of the Netherlands (Wet op de ondernemingsraden) having jurisdiction over that person, (ii) the execution, delivery and performance of any document or action having been ‘'duly authorized’ ' includes any action required to comply with the Works Councils Act of the Netherlands (Wet op de ondernemingsraden) and obtaining an unconditional positive advice (advies) from the competent works council(s), (iii) ‘'constituent documents’ ' means the deed of incorporation (akte van oprichting), articles of association (statuten), and an up-to-date extract of the Trade Register of the Dutch Chamber of Commerce relating to that person, (iv) a ‘'bankruptcy’', ‘'winding-up’', ‘'liquidation’ ' or ‘'dissolution’ ' includes that person being declared bankrupt (failliet verklaard) or dissolved (ontbonden), (v) a ‘'moratorium’ ' includes (voorlopige) surseance van betaling, (vi) ‘'admit in writing its inability or fail generally to pay its debts’ ' includes that person having filed a notice under Section 36 of the Tax Collection Act of the Netherlands (Invorderingswet 1990) or Section 60 of the Social Insurance Financing Act of the Netherlands (Wet Financiering Sociale Verzekeringen) in conjunction with Section 36 of the Tax Collection Act of the Netherlands (Invorderingswet 1990), (vii) a ‘'liquidator’ ' or ‘'trustee in bankruptcy’ ' includes a curator or a beoogd curator, (viii) an ‘'administrator’ ' includes a bewindvoerder or a beoogd bewindvoerder, and (ix) a ‘'lien’ ' includes any mortgage (hypotheek), pledge (pandrecht), retention of title arrangement (eigendomsvoorbehoud), privilege (voorrecht), right of retention (recht van retentie), right to reclaim goods (recht van reclame), and any right in rem (beperkt recht), created for the purpose of granting security (goederenrechtelijk zekerheidsrecht).. US-DOCS\101954982.7000000000.8

Dutch Terms. In this Agreement, where it relates to a Dutch person or an entity incorporated in the context so requiresNetherlands, a reference to to: NAI-1506002948v15 (i) ‘works council’ a “director” means each works council a managing director (ondernemingsraadbestuurder) or central or group works council and “board of directors” means its managing board (centrale of groeps ondernemingsraad) within the meaning of the Works Councils Act of the Netherlands (Wet op de ondernemingsraden) having jurisdiction over that person, bestuur); (ii) the execution, delivery and performance of any document an “action to authorize” or action having been ‘“duly authorized’ ”, where applicable, includes without limitation any action required to comply with the Dutch Works Councils Council Act of the Netherlands (Wet op de ondernemingsraden) and obtaining an unconditional positive advice (advies) from the competent works council(s), ; (iii) ‘constituent documents’ means the deed of incorporation (akte van oprichting)any “proceeding under any bankruptcy or insolvency law”, articles of association (statuten)“bankruptcy”, and an up-to-date extract of the Trade Register of the “insolvency”, or “dissolution” includes a Dutch Chamber of Commerce relating to that person, (iv) a ‘bankruptcy’, ‘winding-up’, ‘liquidation’ or ‘dissolution’ includes that person entity being declared bankrupt (failliet verklaard) or dissolved (ontbonden); (iv) “bankruptcy, insolvency, receivership or similar proceeding” or “liquidation proceeding” (or words of similar import) includes an application for moratorium (surseance van betaling) and the appointment of a receiver, liquidator, custodian, trustee includes the appointment of an administrator and that a moratorium has been granted (surseance verleend); (v) a ‘moratorium’ any procedure or step taken in connection with an insolvency proceeding includes (voorlopige) surseance van betaling, (vi) ‘admit in writing its inability or fail generally to pay its debts’ includes that person such Dutch entity having filed a notice under Section 36 of the Tax Collection Act of the Netherlands (Invorderingswet 1990) or Section 60 of the Social Insurance Financing Act of the Netherlands (Wet Financiering Sociale Verzekeringen) in conjunction with Section 36 of the Tax Collection Act of the Netherlands (Invorderingswet 1990), ; (vi) a “trustee” in any bankruptcy or insolvency proceeding includes a curator; (vii) a ‘liquidator’ or ‘trustee in bankruptcy’ an “administrator” includes a curator or a beoogd curator, bewindvoerder; (viii) an ‘administrator’ “attachment” includes a bewindvoerder or a beoogd bewindvoerder, and beslag; (ix) a ‘lien’ includes “gross negligence” means grove xxxxxx; (x) “indemnify” means vrijwaren; (xi) “negligence” means xxxxxx; (xii) “bad faith” means kwade trouw; and (xiii) “willful misconduct” means opzet. Section 5. Amendment to Section 2.02(b) of the Credit Agreement. Section 2.02(b) of the Credit Agreement is hereby amended by deleting the last sentence of such Section and replacing it with the following: Each Lender at its option may make any mortgage (hypotheek), pledge (pandrecht), retention Loan by causing any domestic or foreign branch or Affiliate of title arrangement (eigendomsvoorbehoud), privilege (voorrecht), right such Lender to make such Loan; provided that any exercise of retention (recht van retentie), right such option shall not affect the obligation of the applicable Borrower to reclaim goods (recht van reclame), and any right repay such Loan in rem (beperkt recht), created for accordance with the purpose terms of granting security (goederenrechtelijk zekerheidsrecht)this Agreement. Section 6.