Common use of Dutch Terms Clause in Contracts

Dutch Terms. In this Agreement, where it relates to a Dutch Domiciled Credit Party, or Dutch security, a reference to: (a) a necessary action to authorize where applicable, includes without limitation: (i) any action required to comply with the Works Councils Act of the Netherlands (Wet op de ondernemingsraden); and (ii) obtaining an unconditional positive advice (advies) from the competent works council(s) if a positive advice is required pursuant to the Dutch Works Councils Act (Wet op de ondernemingsraden); (b) gross negligence means grove xxxxxx; (c) negligence means xxxxxx; (d) a security interest includes any mortgage (hypotheek), pledge (pandrecht), retention of title arrangement (eigendomsvoorbehoud), right of retention (recht van retentie), right to reclaim goods (recht van reclame), and, in general, any right in rem (beperkt recht), created for the purpose of granting security (goederenrechtelijk zekerheidsrecht); (e) willful misconduct means opzet; (f) a winding-up, administration or dissolution (and any of those terms) includes a Dutch entity being declared bankrupt (failliet verklaard) or dissolved (ontbonden); (g) a moratorium includes surseance van betaling and a moratorium is declared or occurs includes surseance verleend; (h) any step or procedure taken in connection with insolvency proceedings includes a Dutch entity having filed a notice under Section 36 of the Dutch Tax Collection Act (Invorderingswet 1990); (i) an administrative receiver or receiver includes a curator and a beoogd curator or stille bewindvoerder; (j) an administrator includes a bewindvoerder and a beoogd curator or stille bewindvoerder; (k) an attachment includes a beslag; (l) a merger includes a juridische fusie; (m) a demerger includes a juridische splitsing; and (n) financial assistance means any action or contemplated action prohibited under section 2:98(c) of the Dutch Civil Code.

Dutch Terms. In this Agreement, where it relates to a Dutch Domiciled Credit Party, or Dutch security, a reference to: (a) a necessary action to authorize where applicable, includes without limitation: (i) any action required to comply with the Works Councils Act of the Netherlands (Wet op de ondernemingsraden); and (ii) obtaining an unconditional positive advice (advies) from the competent works council(s) if a positive advice is required pursuant to the Dutch Works Councils Act (Wet op de ondernemingsraden); (b) gross negligence means grove xxxxxx; (c) negligence means xxxxxx; (d) a security interest includes any right of mortgage (hypotheek), right of pledge (pandrecht), retention of title arrangement (eigendomsvoorbehoud), right of retention (recht van retentieretentierecht), right to reclaim goods of reclamation (recht van reclame), and, in general, any limited right in rem (beperkt recht), created for the purpose of granting security (goederenrechtelijk zekerheidsrecht); (e) willful wilful misconduct means opzet; (f) a winding-up, administration or dissolution (and any of those terms) includes a Dutch entity being declared bankrupt (failliet verklaard) or dissolved (ontbonden); (g) a moratorium includes a Dutch entity being granted a suspension of payments (surseance van betaling and a moratorium is declared or occurs includes surseance verleendbetaling); (h) any step or procedure taken in connection with insolvency proceedings includes a Dutch entity having filed a notice under Section 36 of the Dutch Tax Collection Act (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); (i) an administrative receiver or receiver includes a curator and a beoogd curator or stille bewindvoerder; (j) an administrator includes a bewindvoerder and a beoogd curator or stille bewindvoerder; (k) an attachment includes a beslag; (l) a merger includes a juridische fusie; (m) a demerger includes a juridische splitsing; and (n) financial assistance means any action or contemplated action prohibited under section 2:98(c) of the Dutch Civil Code.

Dutch Terms. In this Agreement, where it relates to or has an effect on a Dutch Domiciled Credit Partyentity or its assets, or Dutch security, then, solely for purposes of Dutch law, a reference to: (a) a necessary action to authorize where applicable, includes without limitation: (i) any action required to comply with the Works Councils Act of the The Netherlands (Wet op de ondernemingsraden); and (ii) obtaining an unconditional positive advice (advies) from the competent works council(s) if a positive advice is required pursuant to the Dutch Works Councils Act (Wet op de ondernemingsraden); (b) gross negligence means grove xxxxxx; (c) negligence means xxxxxx; (d) a security interest 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, in general, any right in rem (beperkt recht), created for the purpose of granting security (goederenrechtelijk zekerheidsrecht); (e) willful wilful misconduct means opzet; (f) a winding-up, administration or dissolution (and any of those terms) includes a Dutch entity being declared bankrupt (failliet verklaard) or dissolved (ontbonden); (g) a moratorium includes surseance van betaling and a moratorium is declared or occurs includes surseance verleend; (h) any step or procedure taken in connection with insolvency proceedings includes a Dutch entity having filed a notice under Section 36 of the Dutch Tax Collection Act (Invorderingswet 1990); (i) an administrative receiver or receiver includes a curator and a beoogd curator or stille bewindvoerdercurator; (j) an administrator includes a bewindvoerder and a beoogd curator or stille bewindvoerder; (k) an attachment includes a beslag; (l) a merger includes a juridische fusie; (m) a demerger includes a juridische splitsing; and (n) financial assistance means any action or contemplated action prohibited under section 2:98(c) of the Dutch Civil Codelaw.

Dutch Terms. In this Agreement, where it relates to a Dutch Domiciled Credit Party, person or Dutch securitythe context so requires, a reference to: (a) The Netherlands means the European part of the Kingdom of the Netherlands and Dutch means in or of The Netherlands; (b) works council means each works council (ondernemingsraad) or central or group works council (centrale of groeps ondernemingsraad) having jurisdiction over that person; (c) a necessary action to authorize where applicable, authorise includes without limitation: (i) any action required to comply with the Works Councils Act of the The Netherlands (Wet op de ondernemingsraden); and (ii) obtaining an unconditional , followed by a neutral or positive advice (advies) from the competent works council(s) council of that person which, if conditional, contains conditions which can reasonably be complied with and would not cause and are not reasonably likely to cause a positive advice is required pursuant to the Dutch Works Councils Act (Wet op de ondernemingsraden); (b) gross negligence means grove xxxxxx; (c) negligence means xxxxxxbreach of any term of any Transaction Document; (d) constitutional documents means the articles of association (statuten) and deed of incorporation (akte van oprichting) and an up-to-date extract of registration of the Trade Register of the Dutch Chamber of Commerce; (e) a security interest or security includes any mortgage (hypotheek), pledge (pandrecht), retention of title arrangement (eigendomsvoorbehoud), right of retention (recht van retentie), right to reclaim goods (recht van reclame), and, in general, ) and any right in rem (beperkt recht), ) created for the purpose of granting security (goederenrechtelijk zekerheidsrechtgoederenrechtelijke zekerheid); (e) willful misconduct means opzet; (f) a winding-up, administration or dissolution (and any of those terms) includes a Dutch entity being declared bankrupt (failliet verklaard) or dissolved (ontbonden); (g) a moratorium includes surseance van betaling and a moratorium is declared or occurs includes surseance verleend; (h) any procedure or step or procedure taken in connection with insolvency proceedings includes a Dutch entity that person having filed a notice under Section 36 of the Dutch Tax Collection Act of The Netherlands (Invorderingswet 1990); (i) an administrative receiver or receiver a liquidator includes a curator and or a beoogd curator or stille bewindvoerdercurator; (j) an administrator includes a bewindvoerder and or a beoogd curator or stille bewindvoerder; (k) an attachment includes a beslag; (l) a merger includes a juridische fusiegross negligence means grove xxxxxx; (m) a demerger includes a juridische splitsingindemnify means vrijwaren; (n) negligence means xxxxxx; and (no) financial assistance wilful misconduct means any action or contemplated action prohibited under section 2:98(c) of the Dutch Civil Codeopzet.

Dutch Terms. In this Agreement, where it relates to a Person incorporated (or established) under Dutch Domiciled Credit Partylaw, or any Collateral Document governed by Dutch securitylaw, a reference to: (a) a necessary action to authorize where applicable, includes without limitation: (i) any action required to comply with the Works Councils Act of the Netherlands (Wet op de ondernemingsraden); and (ii) obtaining an unconditional positive advice (advies) from the competent works council(s) if a positive advice is required pursuant to the Dutch Works Councils Act (Wet op de ondernemingsraden); (b) gross negligence means grove xxxxxx; (c) negligence means xxxxxx; (d) a security interest 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, in general, any right in rem (beperkt recht), created for the purpose of granting security (goederenrechtelijk zekerheidsrecht); (e) willful wilful misconduct means opzet; (f) a winding-up, administration or dissolution (and any of those terms) includes a Dutch entity being declared bankrupt (failliet verklaard) or dissolved (ontbonden); (g) a moratorium includes surseance van betaling and a moratorium is declared or occurs includes surseance verleend; (h) any step or procedure taken in connection with insolvency proceedings includes a Dutch entity having filed a notice under Section 36 of the Dutch Tax Collection Act (Invorderingswet 1990); (i) an administrative receiver or receiver includes a curator and a beoogd curator or stille bewindvoerdercurator; (j) an administrator includes a bewindvoerder and a beoogd curator or stille bewindvoerder; (k) an attachment includes a beslag;; and (l) a merger includes a juridische fusie; (m) a demerger includes a juridische splitsing; and (n) financial assistance means any action or contemplated action prohibited under section 2:98(c) of the Dutch Civil Code.

Dutch Terms. In this Agreement, where it relates to a Dutch Domiciled Credit Party, or Dutch securityentity, a reference to: (a) a necessary action to authorize authorise where applicable, includes without limitation: (i) limitation any action required to comply with the Works Councils Act of the Netherlands (Wet op de ondernemingsraden); and. (iib) obtaining an unconditional positive advice (advies) from a consent being provided under this Agreement requires the competent works council(s) if a positive advice is required pursuant parties concerned to comply with the standard of reasonableness and fairness set out in article 6:248 of the Dutch Works Councils Act (Wet op de ondernemingsraden)Civil Code; (bc) gross negligence means grove xxxxxx; (cd) negligence means xxxxxx; (de) a security interest 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, in general, any right in rem (beperkt recht), created for the purpose of granting security (goederenrechtelijk zekerheidsrecht); (ef) willful wilful misconduct means opzet; (fi) a winding-up, administration or dissolution (and any of those terms) includes a Dutch entity being declared bankrupt (failliet verklaard) or dissolved (ontbonden); (gii) a moratorium includes surseance surséance van betaling and granted a moratorium is declared or occurs includes surseance surséance verleend; (hiii) any step or procedure taken in connection with insolvency proceedings includes a Dutch entity having filed a notice under Section section 36 of the Dutch Tax Collection Act of the Netherlands (Invorderingswet 1990) or Section 16d of the Social Insurance Co-ordination Act of the Netherlands (Coördinatiewet Sociale Verzekeringen); (iiv) an administrative receiver or receiver a trustee in bankruptcy includes a curator and a beoogd curator or stille bewindvoerdercurator; (jv) an administrator includes a bewindvoerder and a beoogd curator or stille bewindvoerder;; and (kvi) an attachment includes a beslag; (l) a merger includes a juridische fusie; (m) a demerger includes a juridische splitsing; and (n) financial assistance means any action or contemplated action prohibited under section 2:98(c) of the Dutch Civil Code.