Common use of Spanish Guarantee Limitation Clause in Contracts

Spanish Guarantee Limitation. Notwithstanding any other provision of this Clause 20 (Guarantee and indemnity) the guarantee, indemnity and other obligations of any Obligor incorporated in Spain expressed to be assumed in this Clause 20 (Guarantee and indemnity) shall be deemed not to be assumed by such Obligor incorporated in Spain to the extent that the same would constitute the provision of financial assistance within the meaning of either Article 81 of the 1989 Spanish Corporations Act (Ley de Sociedades Anónimas) or Article 40.5 of the 1995 Spanish Limited Liability Companies Act (Ley de Sociedadas de Responsabilidad Limitada).

Spanish Guarantee Limitation. Notwithstanding any other provision of this Clause 20 18 (Guarantee and indemnity) the guaranteeguarantees, indemnity indemnities and other obligations of any Obligor incorporated in Spain expressed to be assumed in this Clause 20 18 (Guarantee and indemnity) shall be deemed not to be assumed by such Obligor incorporated in Spain to the extent that the same would constitute the provision of financial assistance within the meaning of either Article 81 150.1 of the 1989 2010 Spanish Corporations Act (Ley de Sociedades Anónimasde Capital) (in the case of a Spanish Obligor which is a sociedad anónima), or Article 40.5 143.2 of the 1995 2010 Spanish Limited Liability Companies Corporations Act (Ley de Sociedadas Sociedades de Responsabilidad LimitadaCapital) (in the case of a Spanish Obligor which is a sociedad limitada).