Netherlands Terms. Notwithstanding any other provision of this Agreement to the contrary, in this Agreement: (a) where it relates to a Dutch Loan Party or in connection with any security in the Netherlands, (i) a reference to a Lien or security interest includes a retention of title arrangement (eigendomsvoorbehoud), privilege (voorrecht), a right of retention (recht van retentie), a right to reclaim goods (recht van reclame) and in general any right in rem (beperkt recht) created for the purpose of granting security (goederenrechtelijke zekerheid); and (ii) an attachment includes a beslag; and (b) where it relates to a Dutch Loan Party, (i) a director means a managing director (bestuurder) and board of directors means its managing board (bestuur); (ii) suspension of payments or a moratorium includes surséance van betaling; (iii) an administrator includes a bewindvoerder; (iv) a receiver includes a curator; and (v) a winding up, an administration or a dissolution includes failliet verklaard and ontbonden.
Netherlands Terms. Without prejudice to the generality of any provision of this Agreement, to the extent this Agreement relates to a Netherlands Credit Party, a reference to: (a) a winding-up, administration or dissolution includes a Netherlands Credit Party being declared bankrupt (failliet verklaard) or dissolved (ontbonden), (b) a moratorium includes surseance van betaling and a moratorium is declared or occurs includes surseance verleend, (c) a trustee in bankruptcy includes a curator, (d) an administrator includes a bewindvoerder, (e) attachment includes a beslag and (f) a necessary action to authorize where applicable, includes without limitation: (i) any action required to comply with the Works Councils Act of the Netherlands (Wet op de ondernemingsraden) and (ii) obtaining an unconditional positive advice (advies) from the competent works council(s). 110
