Common use of French Security Clause in Contracts

French Security. (a) Without prejudice to the generality of Section 12.01 above and only to the extent necessary, each Secured Party (i) appoints the Administrative Agent to act as agent (mandataire) pursuant to Article 1984 of the French Civil Code (Code civil) for the purpose of executing any Security Documents expressed to be or construed to be governed by French law (together, the “French Security Documents”) in its name, (ii) confirms its approval of the French Security Documents creating or expressed to create a security interest benefiting to it and any security interest created or to be created pursuant thereto and, (iii) irrevocably authorises, empowers and directs the Administrative Agent (by itself or by such person(s) as it may nominate) on its behalf, to perform the duties and to exercise the rights, powers and discretions that are specifically delegated to it under or in connection with the French Security Documents, to take any action and exercise any right, power, authorities and discretion upon the terms and conditions set out in this Agreement under or in connection with the French Security Documents, in each case together with any other rights, powers and discretions which are incidental thereto, to give a good discharge for any moneys payable under the French Security Documents and to release any security interest created under the French Security Documents, it being understood that each Secured Party (other than the Administrative Agent) shall issue special powers of attorneys in all cases where the exercise of powers granted under this Agreement requires the issuance of any such special powers of attorney, and the Administrative Agent accepts such appointment. (b) It is expressly agreed amongst the parties to this Agreement that the security interest created pursuant to the Security Documents subject to French law shall be reserved (réservés) for the benefit of any new Lenders or new Secured Parties in accordance with the terms of article 1278 of the French Civil Code (Code civil) in case of any novation, assignment or transfer under Section 13. For the purposes of articles 1278 et seq. of the French Civil Code (Code civil), each existing Lender expressly reserves such security interest to the benefit of each new Lender and the obligations of each Obligor under the above mentioned security interest under the French law governed Security Documents will continue in full force and effect for the benefit of the new Lenders following any novation, assignment or transfer under Section 13, which is expressly agreed and confirmed by the existing Lenders and the relevant Obligors and all other parties from time to time to this Agreement.

French Security. (a) Without prejudice to the generality of Section 12.01 above and only to the extent necessary, each Secured Party (i) appoints the Administrative Agent to act as agent (mandataire) pursuant to Article 1984 of the French Civil Code (Code civil) for the purpose of executing any Security Documents expressed to be or construed to be governed by French law (together, the “"French Security Documents”") in its name, (ii) confirms its approval of the French Security Documents creating or expressed to create a security interest benefiting to it and any security ssecurity interest created or to be created pursuant thereto and, (iii) irrevocably authorises, empowers and directs the Administrative Agent (by itself or by such person(s) as it may nominate) on its behalf, to perform the duties and to exercise the rights, powers and discretions that are specifically delegated to it under or in connection with the French Security Documents, to take any action and exercise any right, power, authorities and discretion upon the terms and conditions set out in this Agreement under or in connection with the French Security Documents, in each case together with any other rights, powers and discretions which are incidental thereto, to give a good discharge for any moneys payable under the French Security Documents and to release any security interest created under the French Security Documents, it being understood that each Secured Party (other than the Administrative Agent) shall issue special powers of attorneys in all cases where the exercise of powers granted under this Agreement requires the issuance of any such special powers of attorney, and the Administrative Agent accepts such appointment. (b) It is expressly agreed amongst the parties to this Agreement that the security interest created pursuant to the Security Documents subject to French law shall be reserved (réservés) for the benefit of any new Lenders or new Secured Parties in accordance with the terms of article 1278 of the French Civil Code (Code civil) in case of any novation, assignment or transfer under Section 13. For the purposes of articles 1278 et seq. of the French Civil Code (Code civil), each existing Lender expressly reserves such security interest to the benefit of each new Lender and the obligations of each Obligor under the above mentioned security interest under the French law governed Security Documents will continue in full force and effect for the benefit of the new Lenders following any novation, assignment or transfer under Section 13, which is expressly agreed and confirmed by the existing Lenders and the relevant Obligors and all other parties from time to time to this Agreement.

French Security. (a) Without prejudice to the generality of Section 12.01 above and only to the extent necessary, each Secured Party (i) appoints the Administrative Agent to act as agent (mandataire) pursuant to Article 1984 of the French Civil Code (Code civil) for the purpose of executing any Security Documents expressed to be or construed to be governed by French law (together, the “"French Security Documents”") in its name, (ii) confirms its approval of the French Security Documents creating or expressed to create a security interest benefiting to it and any security interest created or to be created pursuant thereto and, (iii) irrevocably authorises, empowers and directs the Administrative Agent (by itself or by such person(s) as it may nominate) on its behalf, to perform the duties and to exercise the rights, powers and discretions that are specifically delegated to it under or in connection with the French Security Documents, to take any action and exercise any right, power, authorities and discretion upon the terms and conditions set out in this Agreement under or in connection with the French Security Documents, in each case together with any other rights, powers and discretions which are incidental thereto, to give a good discharge for any moneys payable under the French Security Documents and to release any security interest created under the French Security Documents, it being understood that each Secured Party (other than the Administrative Agent) shall issue special powers of attorneys in all cases where the exercise of powers granted under this Agreement requires the issuance of any such special powers of attorney, and the Administrative Agent accepts such appointment. (b) It is expressly agreed amongst the parties to this Agreement that the security interest created pursuant to the Security Documents subject to French law shall be reserved (réservés) for the benefit of any new Lenders or new Secured Parties in accordance with the terms of article 1278 of the French Civil Code (Code civil) in case of any novation, assignment or transfer under Section 13. For the purposes of articles 1278 et seq. of the French Civil Code (Code civil), each existing Lender expressly reserves such security interest to the benefit of each new Lender and the obligations of each Obligor under the above mentioned security interest under the French law governed Security Documents will continue in full force and effect for the benefit of the new Lenders following any novation, assignment or transfer under Section 13, which is expressly agreed and confirmed by the existing Lenders and the relevant Obligors and all other parties from time to time to this Agreement.