Common use of Spanish Security Clause in Contracts

Spanish Security. If an Event of Default is continuing each of the Group Companies incorporated under the law of Spain which has entered into a Security Document which is listed in paragraphs 25-28 of Schedule 14 will, at the request of the Security Agent, enter into one or more notarial deeds (“escritura publica”) in form and substance satisfactory to the Security Agent in respect of such Security Document and take all other action reasonably required by the Security Agent to ensure that the Security Interests created by such Security Documents (including such notarial deeds (“escritura publica”)) are legal, valid and binding and, subject to the Reservations enforceable, and fully protected in accordance with Spanish law.

Spanish Security. If an Event of Default is continuing each of the Group Companies incorporated under the law of Spain which has entered into a Security Document which is listed in paragraphs 25-28 of Schedule 14 will, at the request of the Security Agent, enter into one or more notarial deeds (“escritura publica”) in form and substance satisfactory to the Security Agent in respect of such Security Document and take all other action reasonably required by the Security Agent to ensure that the Security Interests created by such Security Documents (including such notarial deeds (“escritura escitura publica”)) are legal, valid and binding and, subject to the Reservations enforceable, and fully protected in accordance with Spanish law.