Common use of Spanish Law Particularities Clause in Contracts

Spanish Law Particularities. (i) At the reasonable request of the Administrative Agent, each of the Assignee and the existing Lender (each at its own cost) shall promptly formalize the duly completed transfer certificate and/or assignment agreement as a Spanish Public Document. (ii) The Parties agree that a transfer or assignment under this Section 9.04 shall constitute a transfer of any Spanish Law Security Document to the Assignee in the manner set out in Article 1,203 et seq. of the Spanish Civil Code, and with the effects set out in Article 1,528 of the Spanish Civil Code. (iii) Each Spanish Loan Party hereby expressly waives any right it may have in the future under article 1,535 of the Spanish Civil Code to any extent it may be applicable. (iv) Each Spanish Loan Party (and each other Loan Party having executed a Spanish Law Share Pledge) accepts all transfers and assignments made by the Lenders under and in accordance with the terms of this Agreement without requiring any additional formalities, and undertakes, if necessary, to cooperate in the granting of any Spanish Public Document required for such purposes (at the cost of the Assignee or the existing Lender).

Appears in 3 contracts

Samples: Term Loan Credit Agreement (Adient PLC), Term Loan Credit Agreement (Adient PLC), Term Loan Credit Agreement (Adient PLC)

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Spanish Law Particularities. (i) At the reasonable request of the Administrative Agent, each of the Assignee parties to the Assignment and the existing Lender Assumption (each at its own cost) shall promptly formalize the duly completed transfer certificate and/or assignment agreement Assignment and Assumption as a Spanish Public Document. (ii) . The Parties agree that a any transfer or and/or assignment under this Section 9.04 11.10 shall constitute a transfer of any Spanish Law law governed Security Document to the Assignee assignee in the manner set out in Article 1,203 1203 et seq. of the Spanish Civil Code, and with the effects set out in Article 1,528 1528 of the Spanish Civil Code. (iii) . Each Spanish Loan Credit Party hereby expressly waives any right it may have in the future under article 1,535 1535 of the Spanish Civil Code to any extent it may be applicable. (iv) . Each Spanish Loan Credit Party (and each other Loan Credit Party having executed a any Spanish Law Share Pledgelaw governed pledges over interest/shares/quota shares) accepts all transfers and assignments made by the Lenders under and in accordance with the terms of this Agreement without requiring any additional formalities, and undertakes, if necessary, to cooperate in the granting of any Spanish Public Document required for such purposes (at the cost of the Assignee or the existing Lender)purposes.

Appears in 1 contract

Samples: Credit Agreement (Copart Inc)

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