Common use of German Terms Clause in Contracts

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 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 over-indebted (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 and (g) 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 any entity a Person incorporated or established under in the laws Federal Republic of Germany or the context so requires, unless a contrary indication appearsGermany, a reference to: (a) a person being unable to pay its debts receiver, interim receiver, receiver/manager, sequestrator, conservator, custodian, administrator, trustee, liquidator, voluntary administrator, receiver and manager or other similar official includes that person being in a state of Zahlungsunfähigkeit any: (i) insolvency administrator (Insolvenzverwalter) or preliminary insolvency administrator (vorläufiger Insolvenzverwalter) appointed under Section 17 of the German Insolvency Act (Insolvenzordnung) or being overindebted (überschuldet) under Section 19 of the German Insolvency Act Code (Insolvenzordnung); (bii) a liquidator, trustee in bankruptcy, administrative receiver, receiver, administrator or compulsory manager includes an insolvency administrator (Insolvenzverwalter), interim insolvency administrator (vorläufiger Insolvenzverwalter) or custodian court supervisor (Sachwalter) or interim custodian preliminary court supervisor (vorläufiger Sachwalter)) appointed under the German Insolvency Code; (ciii) liquidator (Liquidatoren) appointed under the German Commercial Code (Handelsgesetzbuch) or under the German Act on Limited Liability Companies (Gesetz betreffen die Gesellschaften mit beschränkter Haftung); and (b) a corporate actionbankruptcy, formal legal proceedings or other formal procedure or formal step taken for the winding reorganization, liquidation, receivership, insolvency, winding-up, administration administration, dissolution, compromise, arrangement, plans of arrangement or dissolution includes relief or protection of debtors, includes, without limitation, insolvency (Insolvenz), insolvency proceedings (Insolvenzverfahren), preliminary insolvency proceedings (vorläufiges Insolvenzverfahren), debtor-in-possession proceedings (Eigenverwaltung), including any protective shield procedure (Schutzschirmverfahren), any insolvency plan (Insolvenzplan), any proceedings pursuant to the enactment of the directive (EU) 2019/1023 and a combination of any of the foregoing and a liquidation (Liquidation) and any action taken by the competent court as set out in Section 21 of the German Insolvency Act or dissolution (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 (GeschäftsordnungenAuflösung).

German Terms. In this Agreementeach Loan Document, where it relates to any entity incorporated a person incorporated, established or established under having its centre of main interests (as that term is used in Article 3(1) regulation No. 2015/848 on insolvency proceedings (recast), as amended, of the laws European Parliament and of The Council of the European Union Regulation (EU)) in Germany or the context so requiresestablishment of any entity (as that term is used in Article 2(10) regulation No. 2015/848 on insolvency proceedings (recast), as amended, of the European Parliament and of The Council of the European Union Regulation (EU)) in Germany, or any Security under German law and unless a the contrary indication intention 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 winding-up, administration or dissolution includes liquidation means (Liquidationpreliminary) insolvency proceedings ((vorläufiges) Insolvenzverfahren), the opening of insolvency proceedings (Insolvenzeröffnungsbeschluss) or for rejection of insolvency proceedings due to lack of funds (Abweisungsbeschluss xxxxxxx Xxxxx) and including any action taken by the competent court as set out in Section section 21 InsO or any action taken by a restructuring court (Restrukturierungsgericht) under the StaRUG and a combination of any of the German Insolvency Act foregoing and a liquidation (InsolvenzordnungLiquidation) or dissolution (Auflösung). (b) a (provisional) liquidator, liquidator, trustee in bankruptcy, judicial custodian, compulsory manager, receiver, administrator receiver, administrator or similar officer means any: (i) restructuring moderator (Sanierungsmoderator) or restructuring agent (Restrukturierungsbeauftragter), (ii) insolvency administrator (Insolvenzverwalter) or preliminary insolvency administrator (vorläufiger Insolvenzverwalter) appointed under the InsO; (diii) court supervisor (Xxxxxxxxxx) or preliminary court supervisor (vorläufiger Xxxxxxxxxx) appointed under the InsO; and (iv) liquidator (Liquidatoren) appointed under the German Commercial Code (Handelsgesetzbuch, HGB) or under the German Act on Limited Liability Companies (Gesetz betreffend die Gesellschaften mit beschränkter Haftung, GmbHG). (c) a moratorium includes protective shield proceedings person being “unable to pay its debts”, “insolvent” or “bankrupt” means that person being in the state of illiquidity (SchutzschirmverfahrenZahlungsunfähigkeit) 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 section 17 InsO or in the laws state of its jurisdiction of incorporation, including with respect over-indebtedness (Überschuldung) pursuant to a person incorporated or established in Germany, any managing director (Geschäftsführer), member of the board (Vorstand) or proxy (Prokurist)section 19 InsO; (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 Agreementeach Loan Document, where it relates to any entity incorporated a person incorporated, established or established under having its centre of main interests (as that term is used in Article 3(1) regulation No. 2015/848 on insolvency proceedings (recast), as amended, of the laws European Parliament and of The Council of the European Union Regulation (EU)) in Germany or the context so requiresestablishment of any entity (as that term is used in Article 2(10) regulation No. 2015/848 on insolvency proceedings (recast), as amended, of the European Parliament and of The Council of the European Union Regulation (EU)) in Germany, or any Security under German law and unless a the contrary indication intention 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 winding-up, administration or dissolution includes liquidation means (Liquidationpreliminary) insolvency proceedings ((vorläufiges) Insolvenzverfahren), the opening of insolvency proceedings (Insolvenzeröffnungsbeschluss) or for rejection of insolvency proceedings due to lack of funds (Abweisungsbeschluss xxxxxxx Xxxxx) and including any action taken by the competent court as set out in Section section 21 InsO or any action taken by a restructuring court (Restrukturierungsgericht) under the StaRUG and a combination of any of the German Insolvency Act foregoing and a liquidation (InsolvenzordnungLiquidation) or dissolution (Auflösung). (b) a (provisional) liquidator, liquidator, trustee in bankruptcy, judicial custodian, compulsory manager, receiver, administrator receiver, administrator or similar officer means any: (i) restructuring moderator (Sanierungsmoderator) or restructuring agent (Restrukturierungsbeauftragter), (ii) insolvency administrator (Insolvenzverwalter) or preliminary insolvency administrator (vorläufiger Insolvenzverwalter) appointed under the InsO; (diii) court supervisor (Xxxxxxxxxx) or preliminary court supervisor (vorläufiger Xxxxxxxxxx) appointed under the InsO; and (iv) liquidator (Liquidatoren) appointed under the German Commercial Code (Handelsgesetzbuch, HGB) or under the German Act on Limited Liability Companies (Gesetz betreffend die Gesellschaften mit beschränkter Haftung, GmbHG). (c) a moratorium includes protective shield proceedings person being “unable to pay its debts”, "insolvent" or "bankrupt" means that person being in the state of illiquidity (SchutzschirmverfahrenZahlungsunfähigkeit) 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 section 17 InsO or in the laws state of its jurisdiction of incorporation, including with respect over-indebtedness (Überschuldung) pursuant to a person incorporated or established in Germany, any managing director (Geschäftsführer), member of the board (Vorstand) or proxy (Prokurist)section 19 InsO; (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).