Executive Proceedings Clause Samples

Executive Proceedings. For the purpose of articles 571 et seq. of the Spanish Civil Procedural Law, the Parties agree that: any amount due and payable (importe vencido, líquido y exigible) under the Loan Documents by the Spanish Borrower that may be claimed in any executive proceedings in Spain will be set out in a certificate which details the relevant calculations and determinations provided by the Lender and will be based on the Register maintained by the Administrative Agent in connection with this Agreement, all in accordance with Section 2.10; the Parties expressly agree that such balance shall be considered as an acknowledgement of debt and may be claimed pursuant to the same provisions of such law; the Administrative Agent may have the Certificate notarized evidencing that the calculations and determinations have been effected; and the Administrative Agent may claim the total amount of the principal and interest due if there is a default in the repayment of any instalment of principal or interest, subject to any of the applicable guarantee and other limitations applying to Spanish Borrower set out in this Agreement. The Parties agree that, for the purposes of payment and dispatch of enforcement in Spain, or for the purposes of judicial or non-judicial enforcement claims in Spain, the balance resulting from such accounts, duly certified by the Administrative Agent by virtue of the Certificate in accordance with this Agreement, will be a due and payable amount (importe vencido, líquido y exigible) for Spanish procedural purposes, and may be used as evidence in such judicial proceedings in Spain and will have full legal effect under Spanish procedural enforcement laws, including for the purposes of the article 572.2 of Spanish Civil Procedural Law. Spanish Public Document: This Agreement, as well as any amendment and restatement that affect the term, financial costs, repayment and maturity, prepayment events and events of default of the facilities regulated under this Agreement, shall be raised to public status at the discretion of the Administrative Agent and upon its request as soon as practicable by means of a Spanish Public Document only for the purposes contemplated in Article 517 133208524_1 et seq. of the Spanish Civil Procedural Law and other related provisions, any related notarization costs shall be borne according to Section 9.03. The Spanish Public Document: will have the effects established under articles 517 et seq. of the Spanish Civil Procedural Law; and may...

Executive Proceedings. (a) This Agreement and any other Loan Documents which a Spanish Obligor is a guarantor or provider of security to, at the discretion of the Collateral Agent, as well as any amendments hereto or thereto, shall be formalised in a Spanish Public Document, so that it may have the status of a notarial document of loan for all purposes contemplated in Article 517, number 4 of the Spanish Civil Procedural Law (Law 1/2000 of 7th January) (“Ley de Ejuiciamiento Civil”) (the “Civil Procedural Law”). (b) Upon enforcement, the sum payable by any Spanish Obligor shall be the total aggregate amount of the balance of the accounts maintained by the Administrative Agent (or the relevant Lender, as the case may be). For the purposes of Articles 517 et seq. of the Civil Procedural Law, the Credit Parties expressly agree that such balances shall be considered as due, liquid and payable and may be claimed pursuant to the same provisions of such law. (c) For the purpose of the provisions of Art, 571, et seq. of the Civil Procedural Law, it is expressly agreed by the Credit Parties that the determination of the debt to be claimed through the executive proceedings shall be effected by the Administrative Agent (or the relevant Lender, as the case may be) by means of the appropriate certificate evidencing the balances shown in the relevant account(s) referred to in paragraph (b) above. By virtue of the foregoing, to exercise executive action by the Collateral Agent or any of the Lenders it will be sufficient to present: (i) an original notarial first or authentic copy of this Agreement; (ii) a notarial certificate, if necessary, for the purposes described in paragraph (d) below; (iii) the notarial document (acta notarial) which incorporates the certificate issued by the Administrative Agent (or the relevant Lender, as the case may be) of the amount due by the Spanish Obligor including an excerpt of the credits and debits (including the interest applied) which appear in the relevant account(s) referred to in paragraph (b) above, evidencing that the determination of the amounts due and payable by the Spanish Obligor have been calculated as agreed in this Agreement and that such amounts coincide with the balance of such accounts; and (iv) a notarial document (acta notarial) evidencing that the Spanish Obligor has been served notice of the amount that is due and payable. (d) Paragraph (c) above is also applicable to any Lender with regard to its Commitment. Such Lender may issue the ap...

Executive Proceedings. Each Spanish Security Document shall be formalized in a Spanish Public Document so that it may have the status of an executive title for all purposes contemplated in Article 517, number 4 of the Spanish Civil Procedure Law (law 1/2000 of 7 January) and, for the purposes of the executive proceedings contemplated therein, the Spanish Loan Parties and the Lenders agree that the amounts due and payable will be the amounts appearing in the Register according to Section 2.07(b) above as certified by the Administrative Agent.

Executive Proceedings. Any dis- agreement or dispute arising in the performance of the contract shall be resolved by the execu- tives of the Parties authorized for this purpose.

Executive Proceedings. (i) For the purpose of articles 571 et seq. of the Spanish Civil Procedural Law, the Parties agree that: (A) any amount due and payable (importe vencido, líquido y exigible) under the Loan Documents by the Spanish Borrower that may be claimed in any executive proceedings in Spain will be set out in a certificate which details the relevant calculations and determinations provided by the Lender and will be based on the Register maintained by the Administrative Agent in connection with this Agreement, all in accordance with Section 2.10; (B) the Parties expressly agree that such balance shall be considered as an acknowledgement of debt and may be claimed pursuant to the same provisions of such law; (C) the Administrative Agent may have the Certificate notarized evidencing that the calculations and determinations have been effected; and (D) the Administrative Agent may claim the total amount of the principal and interest due if there is a default in the repayment of any instalment of #94513555v35 principal or interest, subject to any of the applicable guarantee and other limitations applying to Spanish Borrower set out in this Agreement. (ii) The Parties agree that, for the purposes of payment and dispatch of enforcement in Spain, or for the purposes of judicial or non-judicial enforcement claims in Spain, the balance resulting from such accounts, duly certified by the Administrative Agent by virtue of the Certificate in accordance with this Agreement, will be a due and payable amount (importe vencido, líquido y exigible) for Spanish procedural purposes, and may be used as evidence in such judicial proceedings in Spain and will have full legal effect under Spanish procedural enforcement laws, including for the purposes of the article 572.2 of Spanish Civil Procedural Law.

Executive Proceedings. 40.1 This Agreement and any other Finance Document at the discretion of the Facility Agent, as well as any amendments hereto or thereto, shall be formalised in a Spanish Public Document, so that it may have the status of a notarial document of loan for all purposes contemplated in Article 517, number 4 of the Spanish Civil Procedural Law (Law 1/2000 of 7th January) ("Ley de Enjuiciamiento Civil") (the "CIVIL PROCEDURAL LAW"), and Articles 913-4 and 914-2 in relation to Article 916-2 of the Spanish Commercial Code and other related provisions. 40.2 Upon enforcement, the sum payable by the Spanish Borrower shall be the total aggregate amount of the balance of the control account(s) ("cuentas de credito") maintained by the Facility Agent (or the relevant Lender, as the case may be). For the purposes of Articles 571 et seq. of the Civil Procedural Law, the parties expressly agree that such balances shall be considered as due, liquid and payable and may be claimed pursuant to the same provisions of such law. 40.3 For the purpose of the provisions of Art. 571 et seq. of the Civil Procedural Law, it is expressly agreed by the Parties that the determination of the debt to be claimed through the executive proceedings shall be effected by the Facility Agent (or the relevant Lender, as the case may be) by means of the appropriate certificate evidencing the balances shown in the relevant account(s) referred to in Clause 40.2. By virtue of the foregoing, to exercise executive action by the Facility Agent or any of the Lenders it will be sufficient to present (i) an original notarial first or authentic copy of this Agreement, (ii) a notarial certificate, if necessary, for the purposes described in Clause 40.6 below, (iii) the notarial document ("acta notarial") which incorporates the certificate issued by the Facility Agent (or the relevant Lender, as the case may be) of the amount due by the Spanish Borrower including an excerpt of the credits and debits, including the interest applied, which appear in the relevant account(s) referred to in Clause 40.2, evidencing that the determination of the amounts due and payable by the Spanish Borrower have been calculated as agreed in this Agreement and that such amounts coincide with the balance of such accounts, and (iv) a notarial document ("acta notarial") evidencing that the Spanish Borrower has been served notice of the amount that is due and payable. 40.4 Clause 40.3 above is also applicable to any Lender with regard to it...

Executive Proceedings. 79 -ii- THE SCHEDULES SCHEDULE PAGE -------- ---- SCHEDULE 1 THE ORIGINAL PARTIES.................................. 81 SCHEDULE 2 REQUESTS.............................................. 87 SCHEDULE 3 MANDATORY COST FORMULAE............................... 89 SCHEDULE 4 FORM OF TRANSFER CERTIFICATE.......................... 92 SCHEDULE 5 FORM OF ACCESSION LETTER.............................. 94 SCHEDULE 6 FORM OF COMPLIANCE CERTIFICATE........................ 95 SCHEDULE 7 TIMETABLES............................................ 97 SCHEDULE 8 FORM OF RESIGNATION LETTER............................ 99 THIS AGREEMENT (the "AGREEMENT") is dated August 2005 and made between:

Executive Proceedings. 7.1 For the purpose of article 571 et seq. of the Spanish Civil Act: (a) the amount due and payable under the Transaction Documents that may be claimed in any executive proceedings in Spain will be contained in a certificate supplied by the Purchaser or the Transaction Administrator and will be based on the ledgers and/or accounts maintained by the Purchaser or the Transaction Administrator in connection with this Agreement and the Transaction Documents; (b) the Parties expressly agree that such balance shall be considered as an acknowledgement of debt and may be claimed pursuant to the same provisions of the Spanish Civil Code; (c) the determination of the debt to be claimed through the executive proceeding shall be effected by the Purchaser or the Transaction Administrator by means of the appropriate certificate evidencing the balance shown in the ledgers and/or account or accounts maintained by the Purchaser or the Transaction Administrator in connection with this Agreement and the Transaction Documents in respect of the Originators and the Servicers; and (d) the Purchaser or the Transaction Administrator may (at the cost of the Spanish Originator) have the certificate notarised. 7.2 A Party may start executive proceedings by presenting to any relevant court: (a) an original notarial copy of this Agreement and/or the relevant Transaction Document; and (b) a notarial document (acta notarial) incorporating the certificate of that Party referred to in sub-paragraph (7)(1)(a) above, evidencing that the determination of the amounts due and payable by the relevant Originators and the Servicers have been calculated as agreed in this Agreement and that such amounts coincide with the balance shown in the ledgers and/or account or accounts maintained by the Purchaser or the Transaction Administrator in connection with this Agreement and the Transaction Documents in respect of the Originators, the Performance Guarantor and the Servicers.

Executive Proceedings. For the purpose of art. 571 et seq. of the Spanish Civil Procedural Act, the Parties agree that: