Limitations Applicable to French Guarantors Sample Clauses

Limitations Applicable to French Guarantors. Each Guarantor incorporated, organized or formed, as the case may be, in France (a “French Guarantor”), and by its acceptance hereof, each Holder, hereby confirm that the obligation and liability of such French Guarantor or its subsidiaries (a) will not include any obligation or liability which if incurred would constitute a violation to its corporate benefit or interest (“intérêt social”) in particular within the meaning of Articles L.241-3 or L. 242-6 (such articles are applicable to sociétés en commandite par actions and to sociétés par actions simplifiées pursuant to Articles L. 243-1 and L. 244-1 of the French Commercial Code) and/or would constitute prohibited financial assistance within the meaning of Article L. 225-216 of the French Commercial Code and/or would constitute a misuse of corporate assets (abus de bien sociaux) within the meaning of Articles L. 241-3 or L. 242-6 of the French Commercial Code (such articles are applicable to sociétés en commandite par actions and to sociétés par actions simplifiées pursuant to Articles L. 243-1 and L. 244-1 of the French Commercial Code); and (b) shall be limited to the extent required by applicable law to the maximum amount any such French Guarantor can pay without exceeding its financial capacity or otherwise resulting in insolvency of such French Guarantor, as of the date the Note Guarantee is subscribed or, if later further amended, restated or reaffirmed, as of such later date, and the Note Guarantee given by any of (i) Crown Bevcan France SAS, (ii) Crown Developpement, (iii) Crown Europe SAS, (iv) Société Civile Immobilière des Baquets, (v) Société Civile Immobilière Xxxxxxxx Xxxx, (vi) SPG France Holdings and (vii) Signode France SAS and each other Subsidiary Guarantor incorporated, organized or formed, as the case may be, in France (each, a “French Subsidiary Guarantor”) will in addition be limited as to each French Subsidiary Guarantor or its subsidiaries, to the extent required by French law, to an amount that represents either (i) the amount of such proceeds made available to such French Subsidiary Guarantor via intragroup loans or otherwise or (ii) the equivalent in Euros of the portion of the proceeds of the Notes used directly or indirectly to repay or refinance obligations of or obligations guaranteed (to the extent permitted under French law) by, such French Subsidiary Guarantor or its subsidiaries, or to fund or refinance (directly or indirectly) advances or loans to such French Subsidia...
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Limitations Applicable to French Guarantors. Each Guarantor incorporated, organized or formed, as the case may be, in France (a “French Guarantor”), and by its acceptance hereof, each Holder and the Trustee, hereby confirm that the liability of such French Guarantor shall be limited to the extent required by applicable law to the amount any such French Guarantor can pay without exceeding its financial capacity or otherwise resulting in insolvency of such French Guarantor.
Sample 1
Limitations Applicable to French Guarantors. Notwithstanding anything to the contrary in this Agreement, (i) the representations and warranties made in Section 1 hereof and the covenants made in Section 5 hereof by any Guarantor organized under the laws of France (a “French Guarantor”) shall be strictly limited to matters related to such French Guarantor, (ii) any expenses or indemnities to be paid by any French Guarantor under Section 7 or 9 hereof shall be limited to the expenses or indemnities incidental to the performance of its obligations, its representations and warranties, (iii) any certificates to be given by any French guarantor under Section 8 hereof shall be strictly limited to matters related to it and (iv) any obligations or liabilities incurred or assumed under this Agreement by any of the French Guarantors shall not include any obligations or liabilities which if incurred would constitute financial assistance within the meaning of Article L.225-216 of the French Code de commerce or/and would constitute a misuse of corporate assets within the meaning of Article L.241-3, L.242-6 or L.244-1 of the French Code de commerce or any other law or regulations having the same effect.
Sample 1
Limitations Applicable to French Guarantors. 63 4.10 Limitations Applicable to Spanish Guarantors. ................................................................ 64 4.11 Limitations Applicable to Italian Guarantors.................................................................... 64 CHAR1\1707916v5
Sample 1
Limitations Applicable to French Guarantors. (a) In the case of each French Guarantor, its obligations under this Article IV shall apply only insofar as required to: (i) guarantee the payment obligations under the Loan Documents of its direct or indirect Subsidiaries which are or become Loan Parties from time to time under this Agreement and incurred by those Subsidiaries as a Borrower (if such Subsidiary is not a French Loan Party) or as a Borrower and/or Guarantor (if such Subsidiary is a French Loan Party); and (ii) guarantee the payment obligations of the other Loan Parties which are not direct or indirect Subsidiaries of such French Guarantor; provided, that, in each such case such guarantee shall (A) be limited to the payment obligations of such other Loan Parties under the Loan Documents and (B) not exceed an amount equal to the aggregate amount borrowed by such other Loan Parties under this Agreement (either directly in their capacity as a Borrower or indirectly by way of one or more intra-group loans made to such other Loan Parties directly or indirectly by the Borrower), and (without double counting) on-lent to such French Guarantor by way of one or more intra-group loans directly or indirectly from such other Loan Parties and outstanding from time to time (such amount being the “Maximum French Guaranteed Amount”). (b) Any payment made by a French Guarantor in accordance with clause (a)(ii) above in respect of the obligations of any other Loan Party shall reduce pro tanto the outstanding amount of the intra-group loans due by such French Guarantor to such other Loan Party under the intra-group loans referred to therein. (c) For the avoidance of doubt, any payment made by a French Guarantor in respect of the payment obligations of another Loan Party referred to in clause (a)(ii) above shall reduce the relevant Maximum French Guaranteed Amount. 63 CHAR1\1707916v5 (d) Notwithstanding any other provision of this Article IV, no French Guarantor shall secure liabilities under this Agreement which would result in such French Guarantor not complying with French financial assistance rules as set out in article L. 225-216 of the French Code de commerce and/or would constitute a misuse of corporate assets within the meaning of article L. 241-3 or L. 242-6 of the French Code de commerce or any other laws or regulations having the same effect, as interpreted by French courts. (e) Notwithstanding anything in this Agreement to the contrary (including Section 4.02), it is acknowledged that each French Guar...
Sample 1
Limitations Applicable to French Guarantors. Each Guarantor incorporated, organized or formed, as the case may be, in France (a “French Guarantor”), and by its acceptance hereof, each Holder and the Trustee, hereby confirm that the obligation and liability of such French Guarantor (a) will not include any obligation or liability which if incurred would constitute the provision of financial assistance within the meaning of Article L. 225-216 of the French Commercial Code and/or would constitute a “misuse of corporate assets or powers” within the meaning of Article L. 241-3 or L. 242-6 of the French Commercial Code; and (b) shall be limited to the extent required by applicable law to the amount any such French Guarantor can pay without exceeding its financial capacity or otherwise resulting in insolvency of such French Guarantor, as of the date the note guarantee is subscribed or, if later further amended, restated or reaffirmed, as of such later date, and that the Guarantee given by any of Société de Participations CarnaudMetalbox, Crown Bevcan France SAS, Crown Emballage France SAS and Crown Développment (each, a “French Subsidiary Guarantor”) will in addition be limited to the equivalent in Euros of the portion of the proceeds of the notes used directly or indirectly to repay or refinance obligations of or obligations guaranteed (to the extent permitted under French law) by, such French Subsidiary Guarantor, or to fund or refinance (directly or indirectly) advances or loans to such French Subsidiary Guarantor.
Sample 1
Limitations Applicable to French Guarantors. Each Guarantor incorporated, organized or formed, as the case may be, in France (a “French Guarantor”), and by its acceptance hereof, each Holder and the Trustee, hereby confirm that the liability of such French Guarantor shall be limited to the extent required by applicable law to the amount any such French Guarantor can pay without exceeding its financial capacity or otherwise resulting in insolvency of such French Guarantor, as of the date the note guarantee is subscribed or, if later further amended, restated or reaffirmed, as of such later date, and that the Guarantee given by any of Société de Participations CarnaudMetalbox, Crown Bevcan France SAS and Crown Emballage France SAS (each, a “French Subsidiary Guarantor”) will in addition be limited to the equivalent in Euros of the portion of the proceeds of the notes used directly or indirectly to repay or refinance obligations of or obligations guaranteed (to the extent permitted under French law) by, such French Subsidiary Guarantor, or to fund or refinance (directly or indirectly) advances or loans to such French Subsidiary Guarantor.
Sample 1
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Related to Limitations Applicable to French Guarantors

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