Dutch Terms Sample Clauses

Dutch Terms. In this Agreement, where it relates to a Dutch person or the context so requires, a reference to:

Dutch Terms. In this Agreement, where it relates to a Dutch Credit Party, a reference to: (i) a “necessary action to authorise” where applicable, includes without limitation: (a) any action required to comply with the Works Councils Act of the Netherlands (Wet op de ondernemingsraden); and (b) obtaining an unconditional positive advice (advies) from the competent works council(s); (ii) “security interest” includes any mortgage (hypotheek), pledge (pandrecht), retention of title arrangement (eigendomsvoorbehoud), right of retention (recht van retentie), right to reclaim goods (recht van reclame), and, in general, any right in rem (beperkt recht), created for the purpose of granting security (goederenrechtelijk zekerheidsrecht); (iii) a “winding-up, administration” or “dissolution” includes a bankruptcy (faillissement) or dissolution (ontbinding); (iv) a “suspension of payments” includes surseance van betaling; (v) any “step” or “procedure” taken in connection with insolvency proceedings includes a Dutch entity having filed a notice under Section 36 of the Tax Collection Act of the Netherlands (Invorderingswet 1990); (vi) a “liquidator” includes a curator; (vii) an “administrator” includes a bewindvoerder; (viii) an “attachment” includes a beslag;

Dutch Terms. As used in this Agreement, where it relates to a Dutch Loan Party, a reference to: (i) a necessary corporate or other organizational action where applicable includes without limitation: (A) any action required to comply with the Works Councils Act of the Netherlands (Wet op de ondernemingsraden); and (B) obtaining an positive or neutral advice (advies), which, if conditional, contains conditions which can be reasonably complied with by the relevant Dutch Loan Party, from the competent works council(s); (ii) gross negligence means grove schuld; (iii) any Lien and any security interest includes any mortgage (hypotheek), pledge (pandrecht), retention of title arrangement (eigendomsvoorbehoud), privilege (voorrecht), right of retention (recht van retentie), right to reclaim goods (recht van reclame), and, in general, any right in rem (zakelijk recht) created for the purpose of granting security (goederenrechtelijk zekerheidsrecht); (iv) willful misconduct means opzet; (v) a bankruptcy, liquidation or winding up, dissolution (and any of those terms) includes a Dutch entity being declared bankrupt (failliet verklaard) or dissolved (ontbonden); (vi) a moratorium includes surseéance van betaling and granted a moratorium includes surseance verleend; (vii) a bankruptcy trustee, includes a curator and a liquidator includes a curator; (viii) an administrator includes a bewindvoerder and a receiver or an administrative receiver does not include a curator or bewindvoerder; (ix) the procedure described under Sections 7.01(f) and (g) includes filing a notice under section 36 of the Tax Collection Act of the Netherlands (Invorderingswet 1990), (x) an attachment includes a beslag, (xi) a director includes a managing director (bestuurder) and board of directors includes a managing board (bestuur). Where “the Netherlands” or “Dutch” is referred to it refers only to the European part of the Kingdom of the Netherlands and its laws respectively.

Dutch Terms. In this Agreement, a reference to: (a) a “board of directors” means a managing board (bestuur) when a Dutch Loan Party is concerned;

Dutch Terms. In this Agreement, where it relates to a Dutch Domiciled Credit Party, or Dutch security, a reference to: (a) a necessary action to authorize where applicable, includes without limitation: (i) any action required to comply with the Works Councils Act of the Netherlands (Wet op de ondernemingsraden); and (ii) obtaining an unconditional positive advice (advies) from the competent works council(s) if a positive advice is required pursuant to the Dutch Works Councils Act (Wet op de ondernemingsraden); (b) gross negligence means grove ▇▇▇▇▇▇; (c) negligence means ▇▇▇▇▇▇; (d) a security interest includes any mortgage (hypotheek), pledge (pandrecht), retention of title arrangement (eigendomsvoorbehoud), right of retention (recht van retentie), right to reclaim goods (recht van reclame), and, in general, any right in rem (beperkt recht), created for the purpose of granting security (goederenrechtelijk zekerheidsrecht); (e) willful misconduct means opzet; (f) a winding-up, administration or dissolution (and any of those terms) includes a Dutch entity being declared bankrupt (failliet verklaard) or dissolved (ontbonden); (g) a moratorium includes surseance van betaling and a moratorium is declared or occurs includes surseance verleend; (h) any step or procedure taken in connection with insolvency proceedings includes a Dutch entity having filed a notice under Section 36 of the Dutch Tax Collection Act (Invorderingswet 1990); (i) an administrative receiver or receiver includes a curator and a beoogd curator or stille bewindvoerder; (j) an administrator includes a bewindvoerder and a beoogd curator or stille bewindvoerder; (k) an attachment includes a beslag; (l) a merger includes a juridische fusie; (m) a demerger includes a juridische splitsing; and (n) financial assistance means any action or contemplated action prohibited under section 2:98(c) of the Dutch Civil Code.

Dutch Terms. In this Agreement and any other Credit Document, where it relates to an entity incorporated in The Netherlands, a reference to:

Dutch Terms. In this Agreement, where it relates to a Dutch entity or other applicable term, a reference to: (a) a necessary action to authorise, where applicable, includes without limitation: (i) any action required to comply with the Dutch Works Council Act (Wet op de ondernemingsraden); and (ii) obtaining an unconditional positive advice (advies) from the competent works council(s);

Dutch Terms. In this Agreement, where it relates to a Dutch entity, a reference to: (a) a necessary action to authorise where applicable, includes without limitation any action required to comply with the Works Councils Act of the Netherlands (Wet op de ondernemingsraden); (b) a security interest includes any mortgage (hypotheek), pledge (pandrecht), retention of title arrangement (eigendomsvoorbehoud), privilege (voorrecht), right of retention (recht van retentie), right to reclaim goods (recht van reclame), and, in general, any right in rem (beperkt recht), created for the purpose of granting security (goederenrechtelijk zekerheidsrecht); (i) a winding-up, administration or dissolution (and any of those terms) includes a Dutch entity being declared bankrupt (failliet verklaard) or dissolved (ontbonden); (ii) a moratorium includes surséance van betaling and granted a moratorium includes surséance verleend; (iii) any step or procedure taken in connection with insolvency proceedings includes a Dutch entity having filed a notice under section 36 of the Tax Collection Act of the Netherlands (Invorderingswet 1990); (iv) a trustee in bankruptcy includes a curator; (v) an administrator includes a bewindvoerder; and (vi) an attachment includes a beslag.

Dutch Terms. In this Indenture, where it relates to a Dutch Domiciled Grantor, a reference to financial assistance means any action or contemplated action prohibited under section 2:98(c) of the Dutch Civil Code.