Scottish Terms Sample Clauses
The 'Scottish Terms' clause defines the application of specific legal terms, concepts, or interpretations that are unique to Scottish law within a contract. This clause typically clarifies that, where legal terminology or procedures differ between Scotland and other jurisdictions (such as England and Wales), the Scottish definitions and practices will prevail for the purposes of the agreement. By doing so, it ensures that all parties understand which legal standards apply, thereby preventing confusion or disputes arising from jurisdictional differences and ensuring the contract is interpreted consistently under Scottish law.
Scottish Terms. Where it relates to Spire Scotland or any other entity incorporated or established, or having its centre of main interests, in Scotland or otherwise relates to assets, rights, property, interests or security located in Scotland or otherwise governed by Scots law, a reference herein (or in any other Loan Document to which Spire Scotland or any such person is party) to:
(a) assignment includes assignation under Scots law and assign shall be construed accordingly;
(b) attachment shall include execution and diligence under Scots law;
(c) beneficial ownership or title or equitable ownership or title (or similar phrases or terms)shall mean the holding of the beneficial interest under a trust;
(d) covenant shall include, without limitation, any obligation or undertaking by either a tenant or landlord under a lease; and in the context of freehold title, includes a burden under Scots law; and in the context of undertakings, covenants shall mean obligations when expressed as a noun; and covenant shall mean oblige itself when expressed as a verb;
(e) a disposal includes a conveyance, disposition and an assignation;
(f) an easement means a servitude under Scots law;
(g) forfeiture includes irritancy under Scots law;
(h) freehold means heritable under Scots law;
(i) good standing means, as regards a company or a limited liability partnership incorporated in Scotland, duly registered at Companies House in Edinburgh with all filings and fees required to be made or paid under the Companies ▇▇▇ ▇▇▇▇ or the Limited Liability Partnerships Act 2000 duly made or paid within applicable time limits;
(j) guaranty means guarantee;
(k) insolvency shall include bankruptcy;
(l) judgment and distress include, without limitation, decree and diligence respectively;
(m) leasehold shall include long leasehold under Scots law;
(n) legal owner includes a heritable proprietor;
(o) mortgagee or chargee includes a heritable creditor or a pledgee;
(p) notice includes an intimation under Scots law;
(q) overriding interest shall include any encumbrance as set out in section 9 of the Land Registration etc. (Scotland) ▇▇▇ ▇▇▇▇;
(r) perfect and perfection shall include complete and completion respectively;
(s) premium shall include, without limitation, a premium, grassum or other financial incentive;
(t) a receiver, administrative receiver, administrator or other similar person includes, without limitation, a Scottish receiver with the powers conferred under Schedule 2 to the Insolvency ▇▇▇ ▇▇▇▇, a ...
Scottish Terms. Unless the context otherwise requires: In this Indenture, where it relates to assets or undertakings located in Scotland or otherwise governed by Scots law or to any company incorporated in Scotland, a reference to:
(a) ‘assignment’ includes ‘assignation’ under Scots law;
(b) ‘assigns’ include ‘assignees’;
(c) ‘attachment’ shall include ‘execution’ and ‘diligence’ under Scots law;
(d) ‘Bankruptcy Law’ shall mean the Insolvency ▇▇▇ ▇▇▇▇;
(e) ‘beneficial ownership’ shall mean the holding of the ‘beneficial interest under a trust’;
(f) ‘consent’ where used in the phrase ‘consents to the entry of an order for relief against it in an involuntary case’ shall include, without limitation, an order of the relevant Court for relief, and shall not require the express consent of the Company or Guarantors, as the case may be;
(g) ‘a covenant’ (in the context of Property) means a ‘burden or title condition’ under Scots law;
(h) ‘a covenant’ (in the context of an agreement) means an ‘undertaking’ under Scots law;
(i) ‘Custodian’ includes a receiver, administrative receiver, administrator, liquidator, interim manager or other similar person and includes, without limitation, a Scottish receiver with the powers conferred under Schedule 2 to the Insolvency ▇▇▇ ▇▇▇▇, a judicial factor or any person performing the same function of each of the foregoing;
(j) ‘forfeiture’ includes ‘irritancy’ under Scots law;
(k) ‘involuntary case’ shall include creditor-led insolvency proceedings commenced in under the Bankruptcy Law;
(l) ‘judgement’ and ‘distress’ include ‘decree’ and ‘diligence’ respectively;
(m) ‘leasehold’ shall include ‘long leasehold’ under Scots law;
(n) ‘legal owner’ includes a ‘heritable proprietor’ under Scots law;
(o) ‘order for relief’ shall include, without limitation, any winding up order, any administration order, any instrument of appointment of receiver, or any notice of appointment of administrator;
(p) ‘set-off’ includes ‘retention, compensation and the balancing of accounts in insolvency’;
(q) ‘stay’ or ‘stayed’ means ‘sist’ under Scots law;
(r) ‘surrender’ shall mean ‘renunciation’ under Scots law;
(s) ‘voluntary case’ shall include debtor or director-led insolvency proceedings commenced by under the Bankruptcy Law, and shall include, without limitation, liquidation, administration, receivership, company voluntary arrangement, moratorium or scheme of arrangement including restructuring plan.
Scottish Terms. In this Agreement and any Debt Document, a reference to:
(a) assignment includes assignation under Scots law;
(b) attachment shall include execution and diligence under Scots law;
(c) execute means in relation to any Scots law governed document that such document is subscribed so that it shall be presumed to have been subscribed by the grantor and/or other parties thereto for the purposes of sections 3 and/or 7 of, and/or Schedule 1 to, the Requirements of Writing (Scotland) ▇▇▇ ▇▇▇▇;
(d) release, re-assign and/or re-transfer shall, to the extent it relates to assets located in Scotland or otherwise governed by Scots law be construed to also refer to retrocess;
(e) set-off includes retention, compensation and the balancing of accounts in insolvency; and
(f) stay or stayed means sist under Scots law.
Scottish Terms. Without prejudice to the generality of any provision of this Agreement, in this Agreement or any Loan Document, where it relates to a Person incorporated in Scotland, or an asset located in Scotland or otherwise governed by the laws of Scotland, or a Loan Document governed by the laws of Scotland, a reference to:
(a) a receiver, administrative receiver, administrator or other similar person includes, without limitation, a Scottish receiver with the powers conferred under Schedule 2 to the UK Insolvency Act, a judicial factor or any person performing the same function of each of the foregoing; EXECUTION COPY
Scottish Terms. Where it relates to any Scottish Loan Party or any other entity incorporated or established, or having its center of main interests, in Scotland or otherwise relates to assets, rights, property, interests or security located in Scotland or otherwise governed by Scots law, a reference herein (or in any other Loan Document which is not governed by Scots law and to which any of the foregoing is applicable) to: (i) "assignment" includes assignation under Scots law, and "assign" shall be construed accordingly; (ii) "attachment" shall include execution and diligence under Scots law.
Scottish Terms. Unless the context otherwise requires: In this Purchase Agreement, where it relates to assets or undertakings located in Scotland or otherwise governed by Scots law or to any company incorporated in Scotland, a reference to: