European Insolvency Regulation definition

European Insolvency Regulation means Council Regulation (EC) No. 1346/2000 of May 29, 2012 on Insolvency Proceedings, as amended from time to time.

European Insolvency Regulation has the meaning provided in Section 5.18.

European Insolvency Regulation means the Council Regulation (EC) 2015/848 of 20 May 2015 on insolvency proceedings, as amended.

Examples of European Insolvency Regulation in a sentence

• With respect to each Loan Party subject to the European Insolvency Regulation, not knowingly, without the prior written consent of the Administrative Agent, change its centre of main interest (as that term is used in Article 3(1) of the European Insolvency Regulation) unless it is changing to a centre of main interest located in the same country as the original centre of main interest.

• For the purposes of the European Insolvency Regulation, the centre of main interest (as that term is used in Article 3(1) of the European Insolvency Regulation of each Credit Party and each Material Subsidiary incorporated in the European Union) is situated in its jurisdiction of incorporation.

• With respect to each Credit Party subject to the European Insolvency Regulation, shall not, without the prior written consent of the Administrative Agent, change its centre of main interest (as that term is used in Article 3(1) of the European Insolvency Regulation) from its jurisdiction of incorporation.

• For so long as the Parent Borrower is incorporated under the laws of the Netherlands, the Parent Borrower has its central administration (administration centrale) and, for the purposes of the European Insolvency Regulation, the centre of its main interests (centre des intérêts principaux) at the place of its registered office (siège statutaire) in the Netherlands and, as of the Closing Date, has no establishment (as defined in the European Insolvency Regulation) outside the Netherlands.

• With respect to each Pre-Approved Borrower or Other Non-U.S. Revolving Borrower that is subject to the European Insolvency Regulation, not, without the prior written consent of the Administrative Agent, change its centre of main interest (as that term is used in Article 3(1) of the European Insolvency Regulation) unless it is changing to a centre of main interest located in the same country as the original centre of main interest.

More Definitions of European Insolvency Regulation

European Insolvency Regulation has the meaning assigned to such term in Section 3.20.

European Insolvency Regulation means the Regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings.

European Insolvency Regulation means Section 3(1) of the European Council Regulation (EC) No. 1346/2000 on Insolvency Proceedings.

European Insolvency Regulation means Council Regulation (EC) No. 1346/2000 of May 29, 2012 on Insolvency Proceedings, as amended from time to time. “EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor person), as in effect from time to time. “EURIBOR” means the Euro Interbank Offered Rate, as administered by the European Money Markets Institute (or any other Person that takes over the administration of such rate) for a period equal in length to such Interest Period, as displayed on the applicable Reuters page (or on any successor or substitute page or service providing such quotations as determined by the Administrative Agent from time to time. “EURIBOR Rate” means, for any day, with respect to any Credit Extension denominated in Euros, the rate per annum equal to EURIBOR determined pursuant to the definition thereof; provided that in no event shall the EURIBOR Rate be less than 0.75% per annum for the purposes of this Agreement. “EURIBOR Rate Revolving Loan” means a Revolving Loan that bears interest at a rate based on the definition of “EURIBOR Rate.” All EURIBOR Rate Revolving Loans must be denominated in Euros. “Event of Default” has the meaning assigned to such term in Article 7. “Excess Cash Flow” means, for any Test Period ending on the last day of any Fiscal Year, an amount (if positive) equal to: (a) the sum, without duplication, of the amounts for such period of the following: (i) Consolidated Net Income for such period, plus (ii) the Consolidated Working Capital Adjustment for such period, plus (iii) Cash gains of the type excluded from the definition of “Net Income” to the extent not otherwise included in calculating Consolidated Net Income (except to the extent such gains consist of proceeds applied pursuant to Section 2.11(b)(ii)), minus -38- #96942867v160458181 #96942867v1

European Insolvency Regulation means The Council of the European Union Regulation No 2015/848 of 20 May 2015 on insolvency proceedings (recast).

European Insolvency Regulation has the meaning provided in Section 5.18. “Event of Default” has the meaning provided in Section 8.01. “Event of Loss” means, with respect to any property, (i) the actual or constructive total loss of such property or the use thereof resulting from destruction, damage beyond repair, or the rendition of such property permanently unfit for normal use from any casualty or similar occurrence whatsoever, (ii) the destruction or damage of a portion of such property from any casualty or similar occurrence whatsoever, (iii) the condemnation, confiscation or seizure of, or requisition of title to or use of, any property, or (iv) in the case of any property located upon a leasehold, the termination or expiration of such leasehold. “Excluded Subsidiary” means (i) any Unrestricted Subsidiary solely to the extent in existence as of the Closing Date, (ii) any Immaterial Subsidiary other than, at the option of the Borrower, any Immaterial Subsidiary designated by the Borrower as a Subsidiary Guarantor, (iii) any bona fide joint venture entered into for legitimate business purposes, (iv) any Subsidiary that is prohibited or restricted by applicable law, rule or regulation or by any contractual obligation existing on the Closing Date and disclosed to the Administrative Agent in writing (or, if later, existing on the date such Subsidiary becomes a Restricted Subsidiary, so long as such contractual restriction was not created in contemplation of the provision of a guaranty) from guaranteeing the Obligations or which would require consent, approval, license or authorization from any Governmental Authority to provide a guarantee unless such consent, approval, license or authorization has been received, after giving effect to the anti-assignment provision of the UCC and other applicable law, (v) captive insurance companies, (vi) not-for-profit Subsidiaries and (vii) any Non-U.S. Subsidiary that is not required to become a Subsidiary Guarantor pursuant to the Agreed Security Principles. “Excluded Taxes” means any of the following Taxes imposed on or with respect to a Recipient or required to be withheld or deducted from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, Canadian capital Taxes and branch profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the laws of, or having its principal office or, in the case of any Lender, its Applicable Lending Office located in, the juri...

European Insolvency Regulation shall have the meaning provided in Section 7.29.