Common use of Spain Clause in Contracts

Spain. (i) The Guarantee under this Section does not apply to any Guarantor organized under the laws of Spain (a “Spanish Guarantor”) in respect of any liability to the extent that it would result in such Guarantee constituting unlawful financial assistance within the meaning of Section 40.5 of the Limited Liability Company Law (Ley de Sociedades de Responsabilidad Privada). (ii) Further as it relates to the waivers in Section 9.4, each Spanish Guarantor expressly waives any right of exclusion, order or division (beneficios de excusión, orden y división) under Section 1830 et seq of the Spanish Civil Code.