Common use of Dutch Terms Clause in Contracts

Dutch Terms. In this Agreement, where it refers to a Dutch entity, a reference to: (i) a necessary authorization 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 an unconditional positive advice (advies) from the competent works council(s); (ii) a security interest includes any mortgage (hypotheek), pledge (pandrecht), retention-of-title arrangement (recht van retentie), right to reclaim goods (recht van reclame), privilege (voorrecht) and, in general, any right in rem (beperkt recht) created for the purpose of granting security (goederenrechtelijk zekerheidsrecht); (iii) a director in relation to the Dutch Borrower or other Dutch entity, means a managing director (bestuurder) and board of directors means its managing board (bestuur); (iv) an insolvency, liquidation or administration includes a Dutch entity being declared bankrupt (failliet verklaard), being subject to emergency measures (noodregeling) or dissolved (ontbonden); (v) a moratorium includes surseance van betaling and being subject to a moratorium includes surseance verleend; (vi) any insolvency, liquidation or administration or any steps taken in connection therewith include a Dutch entity having filed a notice under section 36 of the Dutch Tax Collection Act (Invorderingswet 1990) or section 23 of the Sectoral Pension Fund (Obligatory Membership) Xxx 0000 (Wet verplichte deelneming in een bedrijf persioenfonds 2000); (vii) a receiver or trustee in bankruptcy includes a curator; (viii) an administrator includes a bewindvoerder; (ix) an attachment includes a beslag and attaching or taking possession of (any of those terms) includes beslag leggen; and (x) a subsidiary includes a subsidiary as defined in section 2:24a of the Dutch Civil Code.

Dutch Terms. In this Agreementrelation to any entity that is incorporated, or where it refers to a Dutch entityapplicable, has its centre of main interest in the Netherlands, a reference to: (ia) an administrator includes a bewindvoerder and a stille bewindvoerder; (b) an attachment includes conservatoir and executoriaal beslag; (c) a necessary authorization where applicable distribution or dividend includes without limitation: any distribution of profits (awinstuitkering) or the distribution of reserves (uitkering uit reserves); (d) admitting the inability to pay debts as they fall due and to incur debts or liabilities beyond a person’s ability to pay includes with respect to an entity the filing of any action required to comply with notice under section 36 of the Works Councils Tax Collection Act of the Netherlands (Invorderingswet 1990) (“TCA”) or section 60 paragraphs 2 and/or 3 of the Social Insurance Financing Act of the Netherlands (Wet op de ondernemingsraden); and (bFinanciering Sociale Verzekeringen) obtaining an unconditional positive advice (advies) from in conjunction with section 36 of the competent works council(s)TCA; (iie) a security interest Lien includes any mortgage (hypotheek), pledge (pandrecht), retention-of-retention of title arrangement (eigendomsvoorbehoud), privilege (voorrecht), right of retention (recht van retentie), right to reclaim goods (recht van reclame), privilege (voorrecht) and, in general, and any right in other rights is rem (beperkt rechtzakelijke rechten) or other rights created for the purpose of granting security security; (goederenrechtelijk zekerheidsrechtf) a liquidator or a trustee in bankruptcy includes a curator and a beoogd curator; (g) a moratorium of any indebtedness includes (voorlopige) surseance van betaling and a moratorium is declared in respect of any indebtedness includes surseance verleend; (h) Organization Documents means in relation to companies incorporated in the Netherlands, a copy of (i) the articles of association (statuten), (ii) the deed of incorporation (akte van oprichting) and (iii) an up-to-date extract (uittreksel) from the trade register (Handelsregister) of the Dutch chamber of commerce (Xxxxx van Koophandel); (iiii) Responsible Officers include authorized representatives and managing directors of a director in relation to the Dutch Borrower or other Dutch entity, means a managing director (bestuurder) and board of directors means its managing board (bestuur);; and (ivj) an insolvencywinding-up, liquidation or and administration (and any of those terms) includes a Dutch an entity being declared bankrupt (failliet verklaard), being subject dissolved (ontbonden) or subjected to emergency measures regulations (noodregeling) or dissolved (ontbonden); (v) a moratorium includes surseance van betaling and being subject to a moratorium includes surseance verleend; (vi) any insolvency, liquidation or administration or any steps taken in connection therewith include a Dutch entity having filed a notice under section 36 on the basis of the Dutch Tax Collection Act (Invorderingswet 1990) or section 23 of the Sectoral Pension Fund (Obligatory Membership) Xxx 0000 on Financial Supervision (Wet verplichte deelneming in een bedrijf persioenfonds 2000op het Financieel Toezicht); (vii) a receiver or trustee in bankruptcy includes a curator; (viii) an administrator includes a bewindvoerder; (ix) an attachment includes a beslag and attaching or taking possession of (any of those terms) includes beslag leggen; and (x) a subsidiary includes a subsidiary as defined in section 2:24a of the Dutch Civil Code.

Dutch Terms. In As used in this Agreement, where it refers relates to a Dutch entityLoan Party, a reference to: : (i) organizational documents means the deed of incorporation (akte van oprichting), articles of association (statuten) and an extract of the Dutch Chamber of Commerce (Xxxxx van Koophandel), (ii) a necessary authorization corporate or other organizational action where applicable includes without limitation: (aA) any action required to comply with the Works Councils Act of the Netherlands (Wet op de ondernemingsraden); and (bB) obtaining an unconditional a positive advice (advies) or neutral advice, which, if conditional, contains conditions which in the opinion of the Administrative Agent are acceptable and 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); ; (iiiii) a any Lien and any security interest includes any mortgage (hypotheek), pledge (pandrecht), retention-of-retention of title arrangement (eigendomsvoorbehoud), privilege (voorrecht), right of retention (recht van retentie), right to reclaim goods (recht van reclame), privilege (voorrecht) and, in general, any right in rem (beperkt zakelijk recht) created for the purpose of granting security (goederenrechtelijk zekerheidsrecht); (iii) a director in relation to the Dutch Borrower or other Dutch entity, means a managing director (bestuurder) and board of directors means its managing board (bestuur); ; (iv) an a bankruptcy, insolvency, liquidation liquidation, winding up, or administration dissolution (and any of those terms) includes a Dutch entity being declared bankrupt (failliet verklaard), being subject to emergency measures (noodregeling) or dissolved (ontbonden); ; (v) a moratorium includes (voorlopige) surseance van betaling and being subject to granted a moratorium includes (voorlopige) surseance verleend; ; (vi) any insolvencya trustee, liquidation or administration or any steps taken in connection therewith include includes a Dutch entity having filed curator and a notice under section 36 of the Dutch Tax Collection Act (Invorderingswet 1990) or section 23 of the Sectoral Pension Fund (Obligatory Membership) Xxx 0000 (Wet verplichte deelneming in een bedrijf persioenfonds 2000); (vii) a receiver or trustee in bankruptcy liquidator includes a curator; ; (viiivii) an administrator includes a bewindvoerder; (ix) an attachment includes a beslag and attaching or taking possession of (any of those terms) includes beslag leggen; and (x) a subsidiary includes a subsidiary as defined in section 2:24a of the Dutch Civil Code., a

Dutch Terms. In this Agreement, where it refers relates to a Dutch entity, a reference to: (ia) a necessary authorization action to authorise where applicable applicable, includes without limitation: : (ai) any action required to comply with the Works Councils Act of the Netherlands (Wet op de ondernemingsraden); and and (bii) obtaining an unconditional positive advice (advies) from the competent works council(s); (iib) gross negligence means groveschuld; (c) negligence means xxxxxx; (d) a security interest includes any mortgage (hypotheek), pledge (pandrecht), retention-of-retention of title arrangement (recht van retentieeigendomsvoorbehoud), privilege (voorrecht), right of retention (rechtvanretentie), right to reclaim goods (recht van reclamevanreclame), privilege (voorrecht) and, in general, any right in rem (beperkt beperkte recht) ), created for the purpose of granting security (goederenrechtelijk zekerheidsrechtgoederenrechtelijkzekerheidsrecht); (iiie) a director in relation to the Dutch Borrower or other Dutch entity, wilful misconduct means a managing director (bestuurder) and board of directors means its managing board (bestuur)opzet; (ivf) an insolvencya winding-up, liquidation administration or administration dissolution (and any of those terms) includes a Dutch entity being declared bankrupt (failliet verklaard), being subject to emergency measures (noodregeling) or dissolved (ontbonden); (vg) a moratorium includes surseance van betaling and being subject to granted a moratorium includes surseance surséance verleend; (vih) any insolvency, liquidation step or administration or any steps procedure taken in connection therewith include with insolvency proceedings includes a Dutch entity having filed a notice under section 36 of the Dutch Tax Collection Act (Invorderingswet 1990) or section 23 of the Sectoral Pension Fund (Obligatory Membership) Xxx 0000 (Wet verplichte deelneming in een bedrijf persioenfonds 2000); (viii) a receiver or trustee in bankruptcy includes a curator; (viiij) an administrator includes a bewindvoerder; (ixk) an attachment includes a beslag and attaching or taking possession of (any of those terms) includes beslag leggenbeslag; and (xl) a subsidiary includes a subsidiary as defined in section 2:24a of the Dutch Civil CodeCode means Burgerlijk Wetboek.

Dutch Terms. In this Agreement, where it refers relates to a Dutch entity, a reference to: (ia) a necessary authorization an authorization, where applicable applicable, includes without limitation: : (ai) any action required to comply with the Works Councils Act of the Netherlands (Wet op de ondernemingsraden); and and (bii) obtaining an unconditional positive advice (advies) from the competent works council(s); (iib) financial assistance means any act contemplated by article 2:98(c) of the Dutch Civil Code; (c) a security interest includes any mortgage (hypotheek), pledge (pandrecht), retention-of-title arrangement (recht van retentie), right to reclaim goods (recht van reclame), privilege (voorrecht) lien and, in general, any right in rem (beperkt beperkte recht) ), created for the purpose of granting security (goederenrechtelijk zekerheidsrecht) and a lien includes any retention of title arrangement (eigendomsvoorbehoud), privilege (voorrecht), right of retention (recht van retentie) or right to reclaim goods (recht van reclame); (iiid) a director in relation to the Dutch Borrower winding-up, administration or other Dutch entity, means a managing director dissolution (bestuurderand any of those terms) and board of directors means its managing board (bestuur); (iv) an insolvency, liquidation or administration includes a Dutch entity being declared bankrupt (failliet verklaard), being subject to emergency measures (noodregeling) or dissolved (ontbonden); (ve) a moratorium includes surseance van betaling and being subject to granted a moratorium includes surseance verleend; (vif) any insolvency, liquidation or administration or any steps step taken in connection therewith include with insolvency proceedings includes a Dutch entity having filed a notice under section 36 of the Dutch Tax Collection Act of The Netherlands (Invorderingswet 1990) or section 23 of the Sectoral Pension Fund (Obligatory Membership) Xxx 0000 (Wet verplichte deelneming in een bedrijf persioenfonds 2000); (viig) a receiver or trustee in bankruptcy includes a curator; (viiih) an administrator includes a bewindvoerder; (ixi) an attachment includes a beslag and attaching or taking possession of (and any of those terms) includes beslag leggen; and (xj) a subsidiary any necessary action to authorize includes a subsidiary as defined in section 2:24a of an unconditional positive advice from the Dutch Civil Codecompetent (joint) works council ((gemeenschappelijke) ondernemingsraad).

Dutch Terms. In this Agreement, where it refers relates to a Dutch entity, a reference to: (ia) The Netherlands means the European part of the Kingdom of the Netherlands and Dutch means in or of The Netherlands; (b) a necessary authorization where applicable winding-up, administration or dissolution (and any of those terms) includes without limitation: a Dutch entity being subject to a pre-insolvency plan procedure (aonderhands akkoordprocedure), declared bankrupt (failliet verklaard) or dissolved (ontbonden); (c) constitutional documents means the articles of association (statuten), deed of incorporation (akte van oprichting) and an up-to-date extract of registration of the Trade Register of the Dutch Chamber of Commerce; (d) works council means each works council (ondernemingsraad) or central or group works council (centrale of groeps ondernemingsraad) having jurisdiction over that person; (e) an action (…) to authorise includes any action required to comply with the Works Councils Act of the The Netherlands (Wet op de ondernemingsraden); and (b) obtaining an unconditional , followed by a neutral or positive advice (advies) from the competent works council(s)council of that person; (iif) a security interest financial assistance includes any act contemplated by Section 2:98c of the Dutch Civil Code; (g) an encumbrance includes any mortgage (hypotheek), pledge (pandrecht), retention-of-title arrangement (recht van retentie), right to reclaim goods (recht van reclame), privilege (voorrecht) and, in general, any right in rem (beperkt recht) ), created for the purpose of granting security (goederenrechtelijk zekerheidsrecht); (iiih) any step or procedure taken in connection with insolvency proceedings includes a director in relation to Dutch entity having filed a notice under Section 36(2) of the Dutch Borrower or other Dutch entity, means a managing director Tax Collection Act of the Netherlands (bestuurder) and board of directors means its managing board (bestuurInvorderingswet 1990); (iv) an insolvency, liquidation or administration includes a Dutch entity being declared bankrupt (failliet verklaard), being subject to emergency measures (noodregeling) or dissolved (ontbonden); (vi) a moratorium includes surseance van betaling and being subject to a moratorium is declared includes surseance verleend; (vi) any insolvency, liquidation or administration or any steps taken in connection therewith include a Dutch entity having filed a notice under section 36 of the Dutch Tax Collection Act (Invorderingswet 1990) or section 23 of the Sectoral Pension Fund (Obligatory Membership) Xxx 0000 (Wet verplichte deelneming in een bedrijf persioenfonds 2000); (viij) a receiver or trustee in bankruptcy or liquidator includes a curator or a beoogd curator; (viiik) an administrator includes a (stille) bewindvoerder;, herstructureringsdeskundige or a beoogd bewindvoerder; and (ixl) an attachment includes a beslag and attaching or taking possession of (any of those terms) includes beslag leggen; and (x) a subsidiary includes a subsidiary as defined in section 2:24a of the Dutch Civil Codebeslag.

Dutch Terms. In this Agreement, where it refers relates to a Dutch entityan entity incorporated in the Netherlands, a reference to: (i) a necessary authorization 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 an unconditional positive advice (advies) from the competent works council(s); (ii) a security interest includes any mortgage (hypotheek), pledge (pandrecht), retention-of-title arrangement (recht van retentie), right to reclaim goods (recht van reclame), privilege (voorrecht) and, in general, any right in rem (beperkt recht) created for the purpose of granting security (goederenrechtelijk zekerheidsrecht); (iii) a director in relation to the Dutch Borrower or other Dutch entity, “director” means a managing director (bestuurder) and “board of directors directors” means its managing board (bestuur); (ivii) an “action to authorize” or “duly authorized”, where applicable, includes without limitation any action required to comply with the Dutch Works Council Act (Wet op de ondernemingsraden); (iii) any “proceeding under any bankruptcy or insolvency law”, “bankruptcy”, “insolvency”, liquidation or administration “dissolution” includes a Dutch entity being declared bankrupt (failliet verklaard), being subject to emergency measures (noodregeling) or dissolved (ontbonden); (viv) “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 includes surseance van betaling and being subject to a moratorium includes has been granted (surseance verleend); (viv) any insolvency, liquidation procedure or administration or any steps step taken in connection therewith include a with an insolvency proceeding includes such Dutch entity having filed a notice under section Section 36 of the Dutch Tax Collection Act of the Netherlands (Invorderingswet 1990) or section 23 Section 60 of the Sectoral Pension Fund (Obligatory Membership) Xxx 0000 Social Insurance Financing Act of the Netherlands (Wet verplichte deelneming Financiering Sociale Verzekeringen) in een bedrijf persioenfonds 2000conjunction with Section 36 of the Tax Collection Act of the Netherlands (Invorderingswet 1990); (viivi) a receiver “trustee” in any bankruptcy or trustee in bankruptcy insolvency proceeding includes a curator; (viiivii) an administrator “administrator” includes a bewindvoerder; (ixviii) an attachment “attachment” includes a beslag and attaching or taking possession of (any of those terms) includes beslag leggen; and (x) a subsidiary includes a subsidiary as defined in section 2:24a of the Dutch Civil Code.beslag;

Dutch Terms. In this Agreementrelation to any entity that is incorporated, or where it refers to a Dutch entityapplicable, has its centre of main interest in the Netherlands, a reference to: (ia) a necessary authorization where applicable suspension of payments or a moratorium of any indebtedness includes without limitation: (avoorlopige) surseance van betaling and a moratorium is declared in respect of any action required indebtedness that includes surseance verleend; (b) winding-up, liquidation, administration, dissolution and re-organisation (and any of those terms) includes an entity being declared bankrupt (failliet verklaard), dissolved (ontbonden) or subject to comply with emergency regulations (noodregeling) on the Works Councils Act basis of the Netherlands Dutch Act on Financial Supervision (Wet op de ondernemingsraden); and het Financieel Toezicht) or statutory proceedings for the restructuring of debt (bakkoordprocedure) obtaining an unconditional positive advice under the Dutch Bankruptcy Act (advies) from the competent works council(sFaillissementswet); (iic) a security Security interest includes any mortgage (hypotheek), pledge (pandrecht), retention-of-title arrangement (recht van retentie), right to reclaim goods (recht van reclame), privilege (voorrecht) and), in general, and any right other rights in rem (beperkt rechtzakelijke rechten) or other rights created for the purpose of granting security (goederenrechtelijk zekerheidsrecht)security; (iiid) a director in relation to the Dutch Borrower or other Dutch entity, gross negligence means a managing director (bestuurder) and board of directors means its managing board (bestuur)grove xxxxxx; (ive) an insolvency, liquidation or administration includes a Dutch entity being declared bankrupt (failliet verklaard), being subject to emergency measures (noodregeling) or dissolved (ontbonden)wilful misconduct means opzet; (vf) a moratorium includes surseance van betaling and being subject to liquidator or a moratorium includes surseance verleend; (vi) any insolvency, liquidation or administration or any steps taken in connection therewith include a Dutch entity having filed a notice under section 36 of the Dutch Tax Collection Act (Invorderingswet 1990) or section 23 of the Sectoral Pension Fund (Obligatory Membership) Xxx 0000 (Wet verplichte deelneming in een bedrijf persioenfonds 2000); (vii) a receiver or trustee in bankruptcy includes a curator and a beoogd curator; (viiig) an administrator includes a bewindvoerder and a stille bewindvoerder; (ixh) an attachment includes conservatoir and executoriaal beslag; (i) a beslag and attaching distribution or taking possession dividend includes any distribution of profits (any winstuitkering) or the distribution of those terms) includes beslag leggenreserves (uitkering uit reserves); and (xj) constitutional documents means a subsidiary includes a subsidiary as defined in section 2:24a copy of: (i) the articles of association (statuten); (ii) the deed of incorporation (akte van oprichting); and (iii) an up-to-date extract (uittreksel) from the trade register (Handelsregister) of the Dutch Civil CodeChamber of Commerce (Xxxxx van Koophandel).