Danish Guarantor definition
Examples of Danish Guarantor in a sentence
Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, a Subsidiary, the U.S. Borrower shall be obligated (and in no event shall the Danish Borrower, any Danish Guarantor or any Foreign Subsidiary be obligated) to reimburse the Lender hereunder for any and all drawings under such Letter of Credit.
For the purposes of this Annex D “Equity” means the equity (in Danish: egenkapital) of the Danish Guarantor calculated in accordance with applicable generally accepted accounting principles, however, adjusted if and to the extent any book value is not equal to the market value.
However, adjusted to include a statutory reserve in respect of any unpaid portion of the subscription price for shares issued by the Danish Guarantor calculated in accordance with the Danish Guarantor’s generally accepted accounting principles at the relevant time (if not already included).
With respect to the Danish Guarantor, apply any loan, advance or payment under this Agreement (a) for acquisition of shares in any Loan Party, (b) in violation of the Danish statutory provision on unlawful assistance including but not limited to Section 206 and 210 of the Danish Companies Act or (c) in any way which will limit any Loan Party’s obligation under the Loan Documents pursuant to the rules described in clause (b) above.
Subject to clause (b), the obligations under this Guarantee shall however be interpreted so as to make a Danish Guarantor liable to the fullest extent permitted by the Companies Act.