Common use of Legal Successors Clause in Contracts

Legal Successors. 14.1 This Pledge Agreement shall remain in effect despite any amalgamation or merger (howsoever effected) relating to Secured Creditors or the Security Agent, and references to the Secured Creditors or the Security Agent shall be deemed to include any assignee or successor in title of Secured Creditors or the Security Agent and any person who, under any applicable law, has assumed the rights and obligations of Secured Creditors or the Security Agent hereunder or under any other agreements or to which under such laws the same have been transferred or novated or assigned in any manner. To the extent a further notification or registration or any other step is required by law to give effect to the above, such further registration shall be made and the Pledgor hereby gives power of attorney to the Security Agent to make any notifications, or to take any other steps, and undertakes to do so himself if so requested by the Security Agent. 14.2 For the purpose of Article 1278 of the Luxembourg Civil Code, to the extent required under applicable law and without prejudice to any other terms hereof or of any other agreements and in particular paragraph 1 of this Clause, the Security Agent hereby expressly reserve and the Pledgor agrees to the preservation of this Pledge and the security interest created thereunder in case of assignment, novation, amendment or any other transfer of the Secured Obligations or any other rights arising for it under the Financing Documents or any other agreements to which the Pledgor is a party.

Legal Successors. 14.1 This Pledge Agreement shall remain in effect despite any amalgamation or merger (howsoever effected) relating to Secured Creditors or the Security Agent, and references to the Secured Creditors or the Security Agent shall be deemed to include any assignee or successor in title of Secured Creditors or the Security Agent and any person who, under any applicable law, has assumed the rights 154 and obligations of Secured Creditors or the Security Agent hereunder or under any other agreements or to which under such laws the same have been transferred or novated or assigned in any manner. To the extent a further notification or registration or any other step is required by law to give effect to the above, such further registration shall be made and the Pledgor hereby gives power of attorney to the Security Agent to make any notifications, or to take any other steps, and undertakes to do so himself if so requested by the Security Agent. 14.2 For the purpose of Article 1278 of the Luxembourg Civil Code, to the extent required under applicable law and without prejudice to any other terms hereof or of any other agreements and in particular paragraph 1 of this Clause, the Security Agent hereby expressly reserve and the Pledgor agrees to the preservation of this Pledge and the security interest created thereunder in case of assignment, novation, amendment or any other transfer of the Secured Obligations or any other rights arising for it under the Financing Documents or any other agreements to which the Pledgor is a party.

Legal Successors. 14.1 This Pledge Agreement shall remain in effect despite any amalgamation or merger (howsoever effected) relating to Secured Creditors or the Security Agent, and references to the Secured Creditors or the Security Agent shall be deemed to include any assignee or successor in title of Secured Creditors or the Security Agent and any person who, under any applicable law, has assumed the rights and obligations of Secured Creditors or the Security Agent hereunder or under any other agreements or to which under such laws the same have been transferred or novated or assigned in any manner. To the extent a further notification or registration or any other step is required by law to give effect to the above, such further registration shall be made and the Pledgor hereby gives power of attorney to the Security Agent to make any notifications, or to take any other steps, and undertakes to do so himself if so requested by the Security AgentAgent . 14.2 For the purpose of Article 1278 of the Luxembourg Civil Code, to the extent required under applicable law and without prejudice to any other terms hereof or of any other agreements and in particular paragraph 1 of this Clause, the Security Agent hereby expressly reserve and the Pledgor agrees to the preservation of this Pledge and the security interest created thereunder in case of assignment, novation, amendment or any other transfer of the Secured Obligations or any other rights arising for it under the Financing Documents or any other agreements to which the Pledgor is a party.