Austrian Capital Maintenance Rules definition

Austrian Capital Maintenance Rules means of mandatory Austrian capital maintenance rules (Kapitalerhaltungsvorschriften) including, without limitation, § 82 et seq. of the Austrian Act on Limited Liability Companies (Gesetz über Gesellschaften mit beschränkter Haftung - “GmbHG”) and § 52 et seq. of the Austrian Act on Joint Stock Companies (Aktiengesetz - “AktG”) (the “Austrian Capital Maintenance Rules”).
Sample 1
Austrian Capital Maintenance Rules has the meaning given to it in Section 12.11.
Sample 1
Austrian Capital Maintenance Rules means mandatory Austrian capital maintenance rules (Kapitalerhaltungsvorschriften), including, without limitation, §§ 82 et seq. of the Austrian Act on Limited Liability Companies (Gesetz über Gesellschaften mit beschränkter Haftung – GmbHG) and §§ 52 et seq. of the Austrian Act on Joint Stock Companies (Aktiengesetz – AktG)
Sample 1

Examples of Austrian Capital Maintenance Rules in a sentence

  • If and to the extent the payment obligations of an Austrian Guarantor under this Clause 11 and/or under any other provision in a Finance Document would not be permitted under Austrian Capital Maintenance Rules, then such payment obligations shall be limited to the maximum amount permitted to be paid under Austrian Capital Maintenance Rules.

  • According to the Parties' understanding of the Austrian Capital Maintenance Rules as of the date hereof, the amount secured is not less than (i) that Austrian Guarantor's balance sheet profit (including retained earnings) (Bilanzgewinn) as defined in § 224 (3) lit A no.

  • If and to the extent the assumption or enforcement of any such payment obligation or liability of an Austrian Guarantor under this Clause 11 and/or under any other provision in a Finance Document would expose any officer of an Austrian Guarantor to personal liability or criminal responsibility such obligation or liability shall be limited to the maximum amount then permissible under Austrian Capital Maintenance Rules.

  • He doesn’t know what a Feynman diagram is, he doesn’t know what the Feynman theory of pair production and annihilation is.

  • Should it be held that any obligation or liability of CAME Holding GmbH under this Second Supplemental Indenture contradicts Austrian Capital Maintenance Rules, the obligations and liabilities of CAME HOLDING GmbH under this Second Supplemental Indenture shall be reduced to a maximum amount which is permitted pursuant to Austrian Capital Maintenance Rules (considering all guarantees and security provided by CAME Holding GmbH to secure the Issuer’s obligations under the Indenture and the Notes).

  • None of the obligations of Sulzer Orthopädie GmbH pursuant to this Clause 17 (Guarantee and Indemnity) shall be construed to create any obligation of Sulzer Orthopädie GmbH to act in violation of the mandatory Austrian Capital Maintenance Rules (“Kapitalerhaltungsvorschriften”) pursuant to Austrian Company Law, in particular sections 82 et seq.

  • None of the Group Companies is party to any Contract or transaction that violates Austrian Capital Maintenance Rules.

  • Without prejudice to any future changes in law or the interpretation by the courts in relation to Austrian Capital Maintenance Rules, it is noted that based on current interpretation of Austrian Capital Maintenance Rules the amount which may be guaranteed in favour of (indirect) shareholders depends essentially (i) on the economic and operational benefits received by the guaranteeing entity and (ii) an adequate and limited risk for the guarantor resulting from the guarantee.

  • According to established case law and unanimous doctrine (e.g. see above), the creation of personal security (such as guarantees) or in rem security (such as a pledge over shares or bank accounts) securing obligations of other group companies constitutes such a benefit for the third party within the meaning of the above interpretation and may, hence, violate Austrian Capital Maintenance Rules.

  • Should any obligation or liability of the Austrian Guarantor under this Accession Letter or any other Finance Document violate or contradict Austrian Capital Maintenance Rules and therefore be held invalid or unenforceable (in whole or in part), such obligation or liability shall be deemed to be replaced by an obligation or liability of a similar nature which is in compliance with Austrian Capital Maintenance Rules and which provides the best possible security interest in favor of the Finance Parties.

Related to Austrian Capital Maintenance Rules

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