Common use of LIMITATION OF SECURITY Clause in Contracts

LIMITATION OF SECURITY. 12.1 The right to enforce the security interests created hereunder shall, to the extent that the Secured Obligations represent those of an affiliated company (verbundenes Unternehmen) within the meaning of Section 15 et seq. of the German Stock Corporation Act (Aktiengesetz) of the Assignor (other than any of the Assignor's subsidiaries), at all times be limited to an amount equal to the Assignor's assets (the calculation of which shall take into account the captions reflected in Section 266 sub-section (2) A, B and C of the German Commercial Code (Handelsgesetzbuch)) less the sum of (A) the Assignor's liabilities (the calculation of which shall take into account the captions reflected in Section 266 subsection (3) B, C and D of the German Commercial Code), and (B) the stated share capital (Stammkapital) of the Assignor (the "NET ASSETS").

LIMITATION OF SECURITY. 12.1 8.1 The right to enforce the security interests created hereunder shall, to the extent that the Secured Obligations represent those of an affiliated company (verbundenes Unternehmen) within the meaning of Section 15 et seq. of the German Stock Corporation Act (Aktiengesetz) of the Assignor (other than any of the Assignor's subsidiaries), at all times be limited to an amount equal to the Assignor's assets (the calculation of which shall take into account the captions reflected in Section 266 sub-section (2) A, B and C of the German Commercial Code (Handelsgesetzbuch)) less the sum of (A) the Assignor's liabilities (the calculation of which shall take into account the captions reflected in Section 266 subsection (3) B, C and D of the count the captions reflected in Section(3)B, C and D of the German Commercial Code), and (B) the stated share capital (Stammkapital) of the Assignor (the "NET ASSETS").

LIMITATION OF SECURITY. 12.1 8.1 The right to enforce the security interests created hereunder shall, to the extent that the Secured Obligations represent those of an affiliated company (verbundenes Unternehmen) within the meaning of Section 15 et seq. of the German Stock Corporation Act (Aktiengesetz) of the Assignor (other than any of the Assignor's subsidiaries), at all times be limited to an amount equal to the Assignor's assets (the calculation of which shall take into account the captions reflected in Section 266 sub-section (2) A, B and C of the German Commercial Code (Handelsgesetzbuch)) less the sum of (A) the Assignor's liabilities (the calculation of which shall take into account the captions reflected in Section 266 subsection (3) B, C and D of the German Commercial Code), and (B) the stated share capital (Stammkapital) of the Assignor (the "NET ASSETS").

LIMITATION OF SECURITY. 12.1 8.1 The right to enforce the security interests created hereunder shall, to the extent that the Secured Obligations represent those of an affiliated company (verbundenes Unternehmen) within the meaning of Section 15 et seq. of the German Stock Corporation Act (Aktiengesetz) of the Assignor (other than any of the Assignor's subsidiaries), at all times be limited to an amount equal to the Assignor's assets (the calculation of which shall take into account the captions reflected in Section 266 sub-section (2) A, B and C of the German Commercial Code (Handelsgesetzbuch)) less the sum of (A) the Assignor's liabilities (the calculation of which shall take into account the captions reflected in Section 266 subsection (3) B, C and D of the count the captions reflected in Section 266 subsection (3)B, C and D of the German Commercial Code), and (B) the stated share capital (Stammkapital) of the Assignor (the "NET ASSETS").