Common use of Executive Proceedings Clause in Contracts

Executive Proceedings. (a) At the discretion of the holders of the Notes, the ratification of the position of each Spanish Obligor as a Subsidiary Guarantor under this Agreement shall be formalized in a Spanish public document (escritura pública), so that it has the status of a notarial document of loan for all purposes contemplated in article 517, paragraph 2, number 4 of the Civil Procedural Law.

Executive Proceedings. (a) At the discretion of the holders of the NotesLender’s discretion, the ratification of the position of each Spanish Obligor as a Subsidiary Guarantor under this Agreement shall be formalized in a Spanish public document (escritura pública), so that it has the status of a notarial document of loan for all purposes contemplated in article 517, paragraph 2, number 4 of the Civil Procedural Law.

Executive Proceedings. (a) At the discretion of the holders of the NotesIssuing Bank, the ratification of the position of each Spanish Obligor as a Subsidiary Guarantor Guarantors under this Agreement shall be formalized in into a Spanish public document (escritura pública), so that it has the status of a notarial document of loan for all purposes contemplated in article Article 517, paragraph 2, number 4 of the Civil Procedural Law.. UTi Worldwide Inc. Nedbank Letter of Credit Agreement