Foreign Secured Parties definition
Examples of Foreign Secured Parties in a sentence
For such purposes, each of the other Foreign Secured Parties releases the Collateral Agent from the restrictions imposed by Section 181 of the German Civil Code (Bürgerliches Gesetzbuch) and any corresponding restriction set forth in other applicable jurisdictions, in each case, to the extent legally possible.
The execution by the Representative prior to the date hereof of any document creating or evidencing any such security for the benefit of any of the Foreign Secured Parties is hereby ratified and confirmed.
The Foreign Secured Parties hereby authorize the Administrative Agent to rely on the information provided by the relevant German Security Provider.
Each future Foreign Secured Party, whether a Lender or a holder of any Foreign Obligation, shall be deemed to have ratified and confirmed (for itself and on behalf of each of its Affiliates that are or become Foreign Secured Parties from time to time) the appointment of the Administrative Agent as the Representative.
In any proceeding under any Bankruptcy Law relating to any other Foreign Loan Party, each Guarantor agrees that the Foreign Secured Parties shall be entitled to receive payment in full in cash of all Guaranteed Obligations (including all interest and expenses accruing after the commencement of a proceeding under any Bankruptcy Law, whether or not constituting an allowed claim in such proceeding (“Post Petition Interest”)) before such Guarantor receives payment of any Subordinated Obligations.
If, however, it would be held that such claims of the Foreign Administrative Agent and such claims of any one or more of the Foreign Secured Parties do constitute such common property and such provisions do apply, the parties hereto agree that this Agreement shall constitute an administration agreement (beheersregeling) within the meaning of article 3:168 DCC.
To effectuate the foregoing intention, the Foreign Administrative Agent, the other Foreign Secured Parties and the undersigned hereby irrevocably agree that the Foreign Obligations of the undersigned under this Foreign Guaranty Supplement and the Foreign Guaranty at any time shall be limited to the maximum amount as will result in the Foreign Obligations of the undersigned under this Foreign Guaranty Supplement and the Foreign Guaranty not constituting a fraudulent transfer or conveyance.
No Guarantor shall have the right to assign its rights hereunder or any interest herein without the prior written consent of the Foreign Secured Parties.
To effectuate the foregoing intention, the Foreign Administrative Agent, the other Foreign Secured Parties and the Guarantors hereby irrevocably agree that the Foreign Obligations of each Guarantor under this Foreign Guaranty at any time shall be limited to the maximum amount as will result in the Foreign Obligations of such Guarantor under this Foreign Guaranty not constituting a fraudulent transfer or conveyance.