Collateral Law definition
Examples of Collateral Law in a sentence
Name: Title: Manager Pledgee Name: Title: By signing hereunder for acceptance, the Company (i) acknowledges and accepts the terms of this Agreement and the Pledge for the purposes of Article 5 of the Financial Collateral Law and (ii) undertakes to duly register or respectively grants sufficient power to, the person(s) designated pursuant to Clause 3 (Perfection of the Pledge) to register promptly this Pledge in its Shareholders' Register using the registration wording as set forth in this Agreement.
The Parties shall treat the Pledged Securities Accounts as special accounts specifically opened for the purpose of holding Relevant Pledged Assets in accordance with Article 4, §1 of the Financial Collateral Law and Article 7 of Royal Decree No 62.
The Company hereby accepts the Pledge in accordance with article 5(3) of the Collateral Law.
Under the Luxembourg Collateral Law, the perfection of security interests depends on certain registration, notification and acceptance requirements.
All security rights granted in the form of a pledge over monetary claims qualify as financial collateral arrangements under the Luxembourg law on financial collateral arrangements dated August 5, 2005, as amended (the "Luxembourg Collateral Law") and the Luxembourg Collateral Law governs the creation, validity, perfection and enforcement of the Issuer Account Pledge Agreement.
Generally, according to paragraph 2(4) of the Luxembourg Collateral Law, a security (financial collateral) may be provided in favour of a person acting on behalf of the collateral taker, a fiduciary or a trustee in order to secure the claims of third party beneficiaries, whether present or future, provided that these third party beneficiaries are determined or may be determined.
According to the Luxembourg Collateral Law, foreign law security interests over claims or financial instruments granted by a Luxembourg obligor will be valid and enforceable as a matter of Luxembourg law notwithstanding any Luxembourg Insolvency Proceedings (as defined below), if such foreign law security interests are similar in nature to Luxembourg security interests falling within the scope of the Luxembourg Collateral Law, where the collateral giver is located in Luxembourg.
The Security Assignment constitutes an assignment for collateral purposes (transfert de propriété à titre de garantie), as provided for in Luxembourg law and/or the Collateral Law, over such Collateral.
In order to secure payment of the Secured Claim, the Pledgor hereby establishes in favour of the Pledgee the financial pledge over the Shares up to the maximum secured amount of 455,000,000 EUR in accordance with the relevant provisions of the Specific Financial Collateral Law (“Financial Pledge”).
The Security Assignment constitutes an assignment for collateral purposes (transfert de propriété à titre de garantie), as provided for in the Collateral Law, over such Collateral.