Common use of Dutch Terms Clause in Contracts

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 Agreement, where it relates to a Dutch entityLoan Party, a reference to: (a) a necessary action to authorise authorize where applicable, includes without limitation limitation: any action required requires to comply with the Dutch Works Councils Act of the Netherlands (Wet op de ondernemingsraden); (b) gross negligence means grove ▇▇▇▇▇▇; (c) a security interest Lien 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)rem, created for the purpose of granting security (goederenrechtelijk zekerheidsrecht); (id) willful misconduct means opzet; (e) a winding-up, administration or dissolution (and any of those terms) includes a Dutch entity being declared bankrupt (failliet verklaard) or dissolved (ontbonden); (iif) a moratorium includes surséance surseance van betaling and granted a moratorium includes surséance surseance verleend; (iiig) any step or procedure taken in connection with insolvency proceedings includes a Dutch entity having filed a notice under section 36 of the 1990 Dutch Tax Collection Act of the Netherlands (Invorderingswet 1990); (ivh) a trustee in bankruptcy receiver includes a curator; (vi) an administrator includes a bewindvoerder; and and (vij) an attachment includes a beslag.

Dutch Terms. In this Agreement, where it relates to a Dutch entityLoan Party, a reference to: (a) a necessary action to authorise authorize where applicable, includes without limitation limitation: any action required requires to comply with the Dutch Works Councils Act of the Netherlands (Wet op de ondernemingsraden); (b) gross negligence means grove ▇▇▇▇▇▇; (c) a security interest Lien 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)rem, created for the purpose of granting security (goederenrechtelijk zekerheidsrecht); (id) willful misconduct means opzet; (e) a winding-up, administration or dissolution (and any of those terms) includes a Dutch entity being declared bankrupt (failliet verklaard) or dissolved (ontbonden); (iif) a moratorium includes surséance surseance van betaling and granted a moratorium includes surséance surseance verleend; (iiig) any step or procedure taken in connection with insolvency proceedings includes a Dutch entity having filed a notice under section 36 of the 1990 Dutch Tax Collection Act of the Netherlands (Invorderingswet 1990); (ivh) a trustee in bankruptcy receiver includes a curator; (vi) an administrator includes a bewindvoerder; and (vij) an attachment includes a beslag.

Dutch Terms. In this Agreement, where it relates to a Dutch entityLoan Party, a reference to: (a) a necessary action to authorise authorize where applicable, includes without limitation limitation: any action required requires to comply with the Dutch Works Councils Act of the Netherlands (Wet op de ondernemingsraden); (b) gross negligence means grove s▇▇▇▇▇; (c) a security interest Lien 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)rem, created for the purpose of granting security (goederenrechtelijk zekerheidsrecht); (id) willful misconduct means opzet; (e) a winding-up, administration or dissolution (and any of those terms) includes a Dutch entity being declared bankrupt (failliet verklaard) or dissolved (ontbonden); (iif) a moratorium includes surséance surseance van betaling and granted a moratorium includes surséance surseance verleend; (iiig) any step or procedure taken in connection with insolvency proceedings includes a Dutch entity having filed a notice under section 36 of the 1990 Dutch Tax Collection Act of the Netherlands (Invorderingswet 1990); (ivh) a trustee in bankruptcy receiver includes a curator; (vi) an administrator includes a bewindvoerder; and (vij) an attachment includes a beslag.

Dutch Terms. In this Agreement, where it relates to a Dutch entityLoan Party, a reference to: (a) a necessary action to authorise authorize where applicable, includes without limitation limitation: any action required requires to comply with the Dutch Works Councils Act of the Netherlands (Wet op de ondernemingsraden); (b) gross negligence means grove sch▇▇▇; (c) a security interest Lien 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)rem, created for the purpose of granting security (goederenrechtelijk zekerheidsrecht); (id) willful misconduct means opzet; (e) a winding-up, administration or dissolution (and any of those terms) includes a Dutch entity being declared bankrupt (failliet verklaard) or dissolved (ontbonden); (iif) a moratorium includes surséance surseance van betaling and granted a moratorium includes surséance surseance verleend; (iiig) any step or procedure taken in connection with insolvency proceedings includes a Dutch entity having filed a notice under section 36 of the 1990 Dutch Tax Collection Act of the Netherlands (Invorderingswet 1990); (ivh) a trustee in bankruptcy receiver includes a curator; (vi) an administrator includes a bewindvoerder; and (vij) an attachment includes a beslag.

Dutch Terms. In this Agreement, where it relates to a Dutch entity, a reference to: (a) a necessary action to authorise authorize where applicable, includes without limitation any action required to comply with the limitation, obtaining unconditional positive advice (advies) from each competent Works Councils Act of the Netherlands (Wet op de ondernemingsraden)Council; (b) negligence means ▇▇▇▇▇▇; (c) ▇▇▇▇▇ negligence means grove ▇▇▇▇▇▇; (d) a security interest Lien 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)rem, created for the purpose of granting security (goederenrechtelijk zekerheidsrecht); (ie) willful misconduct means opzet; (f) a winding-up, administration or dissolution (and any of those terms) includes in each case a Dutch entity being being: (i) declared bankrupt (failliet faillet verklaard); or (ii) or dissolved (ontbonden); (iig) a moratorium includes surséance surseance van betaling and granted a moratorium includes surséance surseance verleend; (iiih) any step or procedure taken in connection with insolvency proceedings includes a Dutch entity having filed a notice under section 36 of the 1990 Dutch Tax Collection Act of the Netherlands (Invorderingswet invorderingswet 1990); (ivi) a trustee in bankruptcy includes a curator; (vj) an administrator includes a bewindvoerder; (k) a receiver or an administrative receiver does not include a curator or a bewindvoerder; and (vil) an attachment includes a beslag.