Liabilities, Limitations and Prohibitions Sample Clauses

Liabilities, Limitations and Prohibitions. The Company will treat equally all holders of promissory notes issued with charge to this bxxx trade line. Also, as the law allows it, the Company binds itself that in the following cases, each and all of holders of the promissory notes issued with charges to this trade bxxx xxxx, will have at their discretion the authority, and not the obligation to demand for the advance payment of the capital of the promissory notes that they hold and the interests accrued to the date of payment, plus any other amount whose payment may correspond, as if it were a payment overdue: a) Should D&S fall into default or a simple delay in the payment of capital or interests of any promissory note issued with charges to this trade bxxx xxxx, and such is not corrected within thirty days as of the date such non compliance took place; b) Should the Company fall into default for the payment of liabilities of monies, directly or indirectly, in favor of third parties, for a total accumulated amount greater than the equivalent to five percent of its total assets according to its last consolidated financial statement (line number five dot ten dot zero zero dot zero ze:ro of the Company’s uniform coded statistical card), and such is not corrected within thirty days as of the date such default takes place, however, with the understanding that the Company is not in default of a liability if the source, amount, opportunity or any other aspect of the same is in dispute or legally challenged by D&S, a condition that in any case, should be endorsed by the auditors; c) The non compliance of any liability mentioned in the preceding item five dot five dot one, or if the Company or any of its affiliates shall fall into insolvency, as long as the previous conditions are not corrected within thirty days as of the date the Board of Directors of D&S has been made aware of the same; d) If any statement made by the company in any of the instruments that are issued or subscribed as a result of information commitments that are taken in this instrument, were or turned out to be incomplete or maliciously false; e) If any other D&S creditor collects legitimately from it the total amount of a credit whose cause is an operation of money credit, in virtue of having exercised the right to advance its expiration date due the Company’s default, due to a cause that is considered in the respective contract, however, with the exception of the cases where the amount of the money credit operation collected in advance ...