Examples of Management Determination in a sentence
The Security Trustee may withhold any enforcement proceeds until final determination of the amount of the Net Assets pursuant to the Management Determination or, if applicable, the Auditors’ Determination.
The relevant German Guarantor shall provide a written substantiated confirmation to the Agent within 15 (fifteen) Business Days following a Lender’s demand under the Guarantee to what extent the demanded payment would lead to the occurrence of a Capital Impairment (the Management Determination).
It being understood that the assets of the Pledgor will be assessed at liquidation values (Liquidationswerte) if the managing directors of the Pledgor, at the time they prepare the Management Determination (as defined below) are, due to factual or legal circumstances at that time, in their opinion not able to make a positive prognosis as to whether the business of the Pledgor can carry on as a going concern (positive Fortführungsprognose), in particular when the Pledge is enforced.
If and to the extent the Net Assets as determined by the Auditors’ Determination are lower than the amount enforced in accordance with the Management Determination, the Security Trustee shall release to the relevant German Chargor (or in case of a German GmbH & Co. KG Chargor to its general partner) such exceeding enforcement proceeds.
It being understood that the assets of the Pledgor will be assessed at liquidation values (Liquidationswerte) if the managing directors of the Pledgor, at the time they prepare the Management Determination (as defined below) are, due to factual or legal - 16 - circumstances at that time, in their opinion not able to make a positive prognosis as to whether the business of the Pledgor can carry on as a going concern (positive Fortführungsprognose), in particular when the Pledge is enforced.