Examples of German Obligations in a sentence
Notwithstanding anything herein to the contrary, funds received for the account of a Defaulting Lender in respect of (a) Canadian Obligations shall only be applied to the payment or settlement of Canadian Obligations, and not in respect of any U.S. Obligations and (b) German Obligations shall only be applied to the payment or settlement of German Obligations of such German Borrower, and not in respect of any other Obligations.
Notwithstanding anything in this Agreement to the contrary, funds received from or held by (a) any Canadian Borrowing Base Obligor or any other Excluded Subsidiary shall be applied only to the payment of the Canadian Obligations or the German Obligations and (b) a German Borrower shall only be applied to the repayment of German Obligations of such German Borrower and, in each case, shall not be applied to the payment of the U.S. Obligations.
Notwithstanding the foregoing, the Canadian Borrower and each German Borrower shall only be liable for such additional amounts to the extent that they relate to the Canadian Obligations and the German Obligations of such German Borrower, respectively.
If an Event of Default described in Section 10.1(h) occurs and is continuing with respect to the Lead Borrower, the Canadian Borrower, any German Borrower, or any Significant Subsidiary, then to the extent permitted by Applicable Law, all Obligations, except the German Obligations, shall become automatically due and payable and all Revolver Commitments shall terminate, without any action by the Agent or notice of any kind.
The demonstration of language proficiency and of the use of English for holders of an IR shall be done through a method of assessment established by the competent authority.