Common use of Enforcement Before the Spanish Courts Clause in Contracts

Enforcement Before the Spanish Courts. (i) In the event that a Purchaser or holder of a Note decides, for the purposes of the enforcement of a Note Document (that has been raised to the status of public document in Spain) before the Spanish courts, to commence the ordinary enforcement proceeding set forth in Articles 517 et seq., of the Spanish Law of Civil Procedure, the parties expressly agree for purposes of Article 571 et seq., of such Spanish Law of Civil Procedure that the settlement to determine the summarily enforceable debt be made by the Agent (on behalf of the corresponding Purchaser or holder of a Note). Therefore, the following will be sufficient for the commencement of the summary proceedings: (a) the notarial deed (escritura de elevación a público) evidencing this Agreement (or the relevant Note Document that has been raised to the status of public document in Spain); (b) a certificate, issued by the Agent, of the debt for which the Note Party is liable, as well as the extract of the debit and credit entries and the entries corresponding to the application of interest that determines the actual balance for which enforcement is requested and the document providing evidence (documento fehaciente) that the settlement of the debt has been carried out in the form agreed to in this Agreement; and (c) a notarial document providing evidence of the prior notice to the Note Party of the amount due as a result of the settlement. (ii) The Note Party shall bear all Taxes, expenses and duties accruing or that are incurred by reason of the notarial instruments referred to in the previous paragraph.

Enforcement Before the Spanish Courts. (i) In the event that a Purchaser or holder of a Note Creditor Party decides, for the purposes of the enforcement of a Note Debt Document (that has been raised to the status of public document in Spain) before the Spanish courts, to commence the ordinary enforcement proceeding set forth in Articles 517 517, et seq., of the Spanish Law of Civil ProcedureProcedure (Ley de Enjuciamiento Civil), the parties expressly agree for purposes of Article 571 571, et seq., of such Spanish Law of Civil Procedure that the settlement to determine the summarily enforceable debt be made by the Agent such (on behalf of the corresponding Purchaser or holder of a Note). Therefore, the following will be sufficient for the commencement of the summary proceedings: (ai) the notarial deed (escritura de elevación a público) evidencing this Agreement (or the relevant Note Debt Document that has been raised to the status of public document in Spain); (bii) a certificate, issued by the AgentSecurity Trustee, of the debt for which the Note Party Debtor is liable, as well as the extract of the debit and credit entries and the entries corresponding to the application of interest that determines the actual balance for which enforcement is requested and the document providing evidence (documento fehaciente) that the settlement of the debt has been carried out in the form agreed to in this Agreement; and (ciii) a notarial document providing evidence of the prior notice to the Note Party Debtor of the amount due as a result of the settlement. (ii) . The Note Party Debtor shall bear all Taxestaxes, expenses and duties accruing or that are incurred by reason of the notarial instruments referred to in the previous paragraph.

Enforcement Before the Spanish Courts. (i) In the event that a Purchaser or holder of a Note Creditor Party decides, for the purposes of the enforcement of a Note Debt Document (that has been raised to the status of public document in Spain) before the Spanish courts, to commence the ordinary enforcement proceeding set forth in Articles 517 517, et seq., of the Spanish Law of Civil ProcedureProcedure (Ley de Enjuciamiento Civil), the parties Parties expressly agree for purposes of Article 571 571, et seq., of such Spanish Law of Civil Procedure that the settlement to determine the summarily enforceable debt be made by the Agent (on behalf of the corresponding Purchaser or holder of a Note)Security Trustee. Therefore, the following will be sufficient for the commencement of the summary proceedings: (ai) the notarial deed (escritura de elevación a público) evidencing this Agreement (or the relevant Note Debt Document that has been raised to the status of public document in Spain); (bii) a certificate, issued by the AgentSecurity Trustee, of the debt for which the Note Party Debtor is liable, as well as the extract of the debit and credit entries and the entries corresponding to the application of interest that determines the actual balance for which enforcement is requested and the document providing evidence (documento fehaciente) that the settlement of the debt has been carried out in the form agreed to in this Agreement; and (ciii) a notarial document providing evidence of the prior notice to the Note Party Debtor of the amount due as a result of the settlement. (ii) . The Note Party Debtor shall bear all Taxestaxes, expenses and duties accruing or that are incurred on by reason of the notarial instruments referred to in the previous paragraph.