German Terms Sample Clauses

German Terms. Wherever this Agreement includes English terms after which either in the same provision or elsewhere in this Agreement German terms have been inserted in brackets and/or italics, the respective German terms alone and not the English terms shall be authoritative for the interpretation of the respective provisions.

German Terms. Where a German term has been inserted in italics, it alone (and not the English term to which it relates) shall be authoritative for the purpose of the interpretation of the relevant English term in this Agreement.

German Terms. In this Agreement, where a translation of a word or phrase into the German language appears in the text of this Agreement, such translation of a word or phrase shall prevail and, furthermore, where it relates to a German entity or other applicable term, a reference to: (a) a compulsory manager, receiver, administrator includes an Insolvenzverwalter, a Vorläufiger Insolvenzverwalter, a Zwangsverwalter or a custodian or creditor’s trustee (Sachwalter); (b) secretary or director includes any statutory legal representative(s) (organschaftlicher Vertreter) of a person pursuant to the laws of its jurisdiction of incorporation, including but not limited to, in relation to a person incorporated or established in Germany, a managing director (Geschäftsführer) or member of the board of directors (Vorstand); (c) a disposal includes a Verfügung; (d) filing for insolvency or to file for insolvency includes the meaning Antrag auf Eröffnung des Insolvenzverfahrens; and (e) a winding up, administration or dissolution (and each of those terms) includes insolvency proceedings (Insolvenzverfahren).

German Terms. Notwithstanding any other provision of this Agreement to the contrary, in this Agreement, where it relates to any Obligor which is organized under the laws of Germany, any reference to (a) a liquidator, trustee, custodian, receiver or administrator includes an “Insolvenzverwalter,” a “vorläufiger Insolvenzverwalter” or a “Sachwalter”; (b) “Organizational Documents” or “constitutional documents” includes reference to articles of association (Satzung) or partnership agreement (Gesellschaftsvertrag), as applicable, and any by-laws of a supervisory board or advisory board, as applicable; and (c) a “director” or “officer” includes any statutory legal representative(s) (organschaftlicher Vertreter) of a Person, including but not limited to, a member of the board of directors (Vorstand), a managing director (Geschäftsführer) or an authorized representative (Prokurist).

German Terms. Where a German term has been inserted in quotation marks and/or italics, such term alone (and not the English term to which it relates) shall be authoritative for the interpretation of the respective provision.

German Terms. (i) In this Agreement, where it relates to (i) a German Loan Party or any other German Subsidiary, or (ii) any Collateral or other security rights or security assets governed by German law and unless the contrary intention appears, a reference to: (A) a “custodian”, “liquidator”, “trustee”, “receiver”, “administrator” “manager”, “assignee”, “sequestrator” or “supervisor” or other similar officer includes an insolvency administrator (Insolvenzverwalter), interim insolvency administrator (vorläufiger Insolvenzverwalter) or custodian (Sachwalter) or interim custodian (vorläufiger Sachwalter);

German Terms. In this Agreement, where it relates to any entity incorporated or established under the laws of Germany or the context so requires, unless a contrary indication appears, a reference to: (a) a person being unable to pay its debts includes that person being in a state of Zahlungsunfähigkeit under Section 17 of the German Insolvency Act (Insolvenzordnung) or being overindebted (überschuldet) under Section 19 of the German Insolvency Act (Insolvenzordnung); (b) a liquidator, trustee in bankruptcy, administrative receiver, receiver, administrator or compulsory manager includes an insolvency administrator (Insolvenzverwalter), interim insolvency administrator (vorläufiger Insolvenzverwalter) or custodian (Sachwalter) or interim custodian (vorläufiger Sachwalter); (c) a corporate action, formal legal proceedings or other formal procedure or formal step taken for the winding up, administration or dissolution includes liquidation (Liquidation) and any action taken by the competent court as set out in Section 21 of the German Insolvency Act (Insolvenzordnung); (d) a moratorium includes protective shield proceedings (Schutzschirmverfahren) and insolvency plan proceedings (Insolvenzplanverfahren); (e) a director or manager of a company includes any statutory legal representative(s) (organschaftlicher Vertreter) of a person pursuant to the laws of its jurisdiction of incorporation, including with respect to a person incorporated or established in Germany, any managing director (Geschäftsführer), member of the board (Vorstand) or proxy (Prokurist); (f) a guarantee includes any guarantee (Garantie), any indemnity, and any joint and several (gesamtschuldnersich) or independent obligation (unabhängiges Schuldversprechen) within the meaning of German law; and the constitutional, incorporation and registry documents and/or excerpts include the relevant entity’s articles of association (Satzung) (as filed with the competent commercial register) or partnership agreement (Gesellschaftsvertrag), a recent online excerpt from the competent commercial register (elektronischer Abdruck aus dem Handelsregister) and, as applicable, a copy of its list of shareholders (Gesellschafterliste) (as filed with the competent commercial register) and, as applicable, any by-laws (Geschäftsordnungen).

German Terms. In this Agreement, where it relates to a company incorporated or established under the laws of Germany or a Transaction Security Document governed by German law, a reference to: (a) “receiver”, “manager”, “conservator”, “trustee”, “agent”, “custodian”, “monitor”, “liquidator” or other similar officer includes a reference to an Insolvenzverwalter, vorläufiger Insolvenzverwalter, Sachwalter or vorläufiger Sachwalter; (b) seeking to adjudicate a Loan Party or Subsidiary bankrupt or insolvent or seeking the “liquidation”, “dissolution”, “winding-up”, reorganization”, “arrangement”, “protection”, “relief” or “composition” or initiating or taking steps to initiate any “Insolvency Proceedings” includes an application or filing for, or an institution of, insolvency proceedings (Antrag auf Eröffnung eines Insolvenzverfahrens) (including, without limitation, by way of (vorläufige) Eigenverwaltung or S▇▇▇▇▇-schirmverfahren), an ordering of provisional measures according to section 21 of the German Insolvency Code (Insolvenzordnung) (Anordnung vorläufiger Maßnahmen) or a rejection of insolvency proceedings on grounds of insufficiency of assets (Abweisung m▇▇▇▇▇▇ Masse); (c) a person being “unable to pay its debts” or “unable to pay its debts as they fall due”, includes that person being in a state of Zahlungsunfähigkeit within the meaning of section 17 of the German Insolvency Code (Insolvenzordnung) and a person’s “assets being less than the aggregate sum of its liabilities” includes that person being in a state of Überschuldung within the meaning of section 19 of the German Insolvency Code (Insolvenzordnung); (d) “management” of a person includes reference to its Geschäftsführung or Vorstand (as applicable); and (e) the “Governing Documents” includes an excerpt from the competent commercial register (Ausdruck aus dem Handelsregister) of most recent date (not older than 14 days), an up-to-date copy of the articles of association (Satzung) (as filed with the competent commercial register) or partnership agreement (Gesellschafts-vertrag) and, as applicable, an up-to-date copy of the list of shareholders (Gesellschafterliste) as filed with the competent commercial register.

German Terms. In this Agreement, where it relates to the German Borrowers, a reference to: (a) gross negligence includes ▇▇▇▇▇ Fahrlässigkeit; (b) negligence includes Fahrlässigkeit; (c) a security interest includes any mortgage (Grundschuld, Hypothek), pledge (Pfandrecht), retention of title arrangement (Eigentumsvorbehalt), right of retention (Zurückbehaltungsrecht), right to reclaim goods (Herausgabeansprüche), and, in general, any right in rem created for the purpose of granting security; (d) a winding-up, administration or dissolution (and any of those terms) includes a German entity being declared bankrupt (insolvent) or dissolved (ausfgelöst); (e) any step or procedure taken in connection with insolvency proceedings includes a German entity having applied for bankruptcy (Insolvenzantrag) or the opening of bankruptcy proceedings (Insolvenzeröffnung); and (f) an administrator includes an insolvency administrator (Insolvenzverwalter) and insolvency trustee (▇▇▇▇▇▇▇▇▇▇).