Limitations — Spain Sample Clauses
The 'Limitations — Spain' clause defines specific restrictions or boundaries on the rights, obligations, or liabilities of the parties within the context of Spanish law. Typically, this clause outlines which legal limitations apply to the agreement, such as caps on damages, exclusions of certain types of liability, or compliance with mandatory Spanish statutory provisions. For example, it may specify that certain indemnities or warranties are subject to limits imposed by Spanish legislation. The core function of this clause is to ensure that the contract remains enforceable and compliant with Spanish legal requirements, while also clarifying the extent of each party's responsibilities and protecting them from unforeseen legal exposure.
Limitations — Spain. This guarantee does not apply to any liability to the extent it would result in this guarantee constituting unlawful financial assistance under Article 81 of the Spanish Joint Stock Company Law (Real Decreto Legislativo 1564/1989, de 22 de Diciembre, por el que se aprueba el Texto Refundido de ▇▇ ▇▇▇ de Sociedades Anónimas) and/or under Article 40.5 of the Spanish Private Limited Companies Law (Ley ▇/▇▇▇▇, ▇▇ ▇▇ ▇▇ ▇▇▇▇▇, ▇▇ ▇▇▇▇▇▇▇▇▇▇ de Responsabilidad Limitada). Further, the maximum amount of any guarantee provided by a Spanish Obligor shall be limited to the amount that would make the net worth of the Spanish Guarantor reduce to two thirds of its share capital, or, in any case, to the amount that would render the Spanish Obligor unable to pay its debts as they fall due or need to enter into negotiations with its creditors and/or file for the opening of bankruptcy (concurso) proceedings minus one euro.
Limitations — Spain. This Subsidiary Guarantee Agreement does not apply to any liability to the extent it would result in this Subsidiary Guarantee Agreement constituting unlawful financial assistance under Article 81 of the Spanish Joint Stock Company Law (Real Decreto Legislativo 1564/1989, de 22 de Diciembre, por el que se aprueba el Texto Refundido de ▇▇ ▇▇▇ de Sociedades Anónimas) and/or under Article 40.5 of the Spanish Private Limited Companies Law (Ley ▇/▇▇▇▇, ▇▇ ▇▇ ▇▇ ▇▇▇▇▇, ▇▇ ▇▇▇▇▇▇▇▇▇▇ de Responsabilidad Limitada). Further, the maximum amount of any guarantee provided by a Spanish Obligor shall be limited to the amount that would make the net worth of the Spanish Guarantor reduce to two thirds of its share capital, or, in any case, to the amount that would render the Spanish Obligor unable to pay its debts as they fall due or need to enter into negotiations with its creditors and/or file for the opening of bankruptcy (concurso) proceedings minus one euro. UTi Worldwide Inc. Nedbank Facilities Agreement
Limitations — Spain. This guarantee does not apply to any liability to the extent it would result in this guarantee constituting unlawful financial assistance under Article 81 of the Spanish Joint Stock Company Law (Ley de Sociedades Anonimas)and/or under Article 40.5 of the Spanish Private Limited Companies Law (Sociedad de Responsabilidad Limitada).