French Guarantors Clause Samples

French Guarantors. (a) The guarantees, obligations liabilities and undertakings of any Obligor incorporated in France (a “French Guarantor”) under Clause 24 (Guarantees) and the Senior Finance Documents shall be deemed not to be undertaken or incurred to the extent that the same would constitute unlawful financial assistance within the meaning of Article L.225-216 al. 1 of the French Commercial Code and the guarantee under by the French Guarantors under Clause 24 (Guarantees) shall be construed accordingly. (b) The guarantee and indemnity obligations under Clause 24 (Guarantees) of any French Guarantor will be limited to the amount specified in any Accession Notice signed by such French Guarantor.

French Guarantors. (a) For the purposes of this Section 5.10.

French Guarantors. (i) Notwithstanding any other provision in this Agreement or the other Finance Documents, the obligation of any French Guarantor under this Clause 20 (Guarantee and Indemnity) or any certificate, notice or other document delivered pursuant thereto or in connection therewith shall be limited: (A) by the financial assistance provisions under article L. 225-216 of the French commercial code. Moreover, the obligations of each French Guarantor under this Clause 20 will not extend to cover any indebtedness which would cause infringement of article L.225-216 of the French commercial code or any similar enactments or provisions in any other jurisdiction; (B) by the French corporate interest (intérêt social) and misuse of assets (abus de bien sociaux) rules; and (C) to a guarantee of the payment obligation of other members of the Group under the Finance Documents provided that any guarantee given by a French Guarantor in relation to the payment obligations of a member of the Group which is not a subsidiary of that French Guarantor (i.e. a company controlled by such French Guarantor within the meaning of article L.233.3 of the French commercial code) shall be limited to the amount made available under the Facilities or the Hedging Agreements to that French Guarantor (either directly or indirectly by way of one or several intra-group loans granted by another member of the Group) and which remains outstanding at the time of enforcement of the guarantee granted by that French Guarantor. (ii) Without limiting the generality of the foregoing in paragraph (i) above: (A) the representations and undertakings made in Clauses 21 (Representations) and 24 (General undertakings) respectively by each French Guarantor shall be made only for itself and for each of its Subsidiaries; (B) the liability of any French Guarantor under this Clause 20 (Guarantee and Indemnity) shall be limited to the punctual performance by each guaranteed Obligor of all that guaranteed Obligor’s payment obligations under the Finance Documents (but excluding any obligations of such guaranteed Obligor as a Guarantor under the Finance Documents); (C) for the avoidance of doubt, it is acknowledged that the French Guarantors are not acting jointly and severally and are not, between themselves, “co-débiteurs solidaires” as to their obligations pursuant to the guarantees given pursuant to this Clause 20 (Guarantee and Indemnity); and (D) the obligations under this Clause 20 (Guarantee and Indemnity) of any Frenc...

French Guarantors. In respect of any Obligor under the Senior Finance Documents which is incorporated in France (a "French Guarantor"), each such French Guarantor shall be deemed to be an Obligor under this Agreement solely for the purposes of the definitions of Permitted Acquisition, Permitted Disposal, Permitted Financial Indebtedness, Permitted Guarantee, Permitted Joint Venture, Permitted Loan, Permitted Security and Permitted Transaction.

French Guarantors. (a) The liability of each Guarantor incorporated in France shall be limited to the obligations of the Issuer only up to an amount equal to the aggregate outstanding principal amount made available to each Guarantor incorporated in France or their Subsidiaries (as increased by any fees, interest, default interest, commissions, expenses and any other similar payments related thereto) (either directly or indirectly) by the Issuer by way of on lending of funds under the Bonds as at the date on which any demand is made on each Guarantor incorporated in France under Clause 2 (Guarantee) of the Agreement (the "Maximum Guaranteed Amount"), it being specified for the avoidance of doubt that any amount paid by each Guarantor incorporated in France under Clause 2 (Guarantee) of the Agreement relating to the Secured Obligations shall immediately thereafter reduce pro tanto the amount outstanding under such intercompany loans, advances and/or shareholders’ account and, as a consequence, shall reduce the Maximum Guaranteed Amount. (b) The Secured Obligations will not extend to cover any indebtedness which, if they did so extend would cause the infringement of article L.225-216 of the French Code de commerce and/or would constitute a misuse of corporate assets within the meaning of article L.241-3 or L.242-6 of the French Code de commerce or any other laws or regulations having the same effect, as interpreted by French courts.