Spanish Notarial Document Clause Samples

Spanish Notarial Document. (i) At the request of the Administrative Agent, each Spanish Guarantor agrees that each Spanish Security Document, as well as any amendments thereto, shall, upon such request of the Administrative Agent be formalized in a Spanish Public Document at the request of the Administrative Agent. Each Spanish Guarantor also undertakes to grant any public or private document required by the Administrative Agent for the purposes of or in relation to such notarial document. The costs of release of first copies of such Spanish notarial document shall be borne by the Spanish Guarantor, and the cost regarding the release of additional copies will be borne by the party hereto requesting such additional copies. (ii) Each Spanish Guarantor undertakes that the notarial document shall (A) at least expressly state that any Loan Party is entitled to claim (subject to any of the applicable guarantee limitations established and subject to compliance with the terms of this Agreement) amounts outstanding under the Loan Documents following a non-payment of principal or interest under this Agreement, in accordance with the terms of this Agreement (it being understood and agreed that this does not prejudice the exercise of any other right and remedy of the Administrative Agent or any Loan Party) and (B) state any conditions that the Agent reasonably considers necessary or convenient in respect of the enforceability of the Security Documents referred to in article 517 et seq. of the Spanish Civil Procedural Act.