Common use of Limitations Applicable to French Guarantors Clause in Contracts

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 Subsidiary Guarantor from time to time.

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 HolderHolder and the Trustee, 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 provision 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) or powers” within the meaning of Articles Article 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 societés par actions simplifiées pursuant to Articles L. 243-1 and Article 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 note guarantee is subscribed or, if later further amended, restated or reaffirmed, as of such later date, and that the Note Guarantee given by any of (i) Société de Participations Carnaudmetalbox, 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 Emballage France SAS and Crown Développment 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 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 subsidiariesGuarantor, or to fund or refinance (directly or indirectly) advances or loans to such French Subsidiary Guarantor from time to timeGuarantor.

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) or powers” 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 societés 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 Subsidiary Guarantor from time to time.

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) or powers” 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 societés 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) Société de Participations Carnaudmetalbox SAS, Crown Bevcan France SAS, (ii) Crown DeveloppementEmballage France SAS, (iii) Crown Développement SAS, Crown Europe SAS, (iv) Xxxxxxx SAS, Litec France SAS, Mima Packaging Systems SAS, Nordic SAS, Société Civile Immobilière des Baquets, (v) Société Civile Immobilière Xxxxxxxx Xxxxxxxx-Xxxx, (vi) Scybele SAS, SPG France Holdings SAS and (vii) Signode France Strapex 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 Subsidiary Guarantor from time to time.