Insolvency Regulation definition

Insolvency Regulation means the Council Regulation (EC) No.1346/2000 29 May 2000 on Insolvency Proceedings.
Insolvency Regulation means the Regulation EU 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings (recast).
Insolvency Regulation means Regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings (recast).

Examples of Insolvency Regulation in a sentence

  • For the purposes of the EU Insolvency Regulation, the centre of main interest (as that term is used in Article 3(1) of the EU Insolvency Regulation) of each Loan Party which is organized or incorporated under the laws of a member state of the European Union is situated in its jurisdiction of incorporation and it has no “establishment” (as that term is used in Article 2(10) of the EU Insolvency Regulation) in any other jurisdiction.


More Definitions of Insolvency Regulation

Insolvency Regulation means Council Regulation (EC) No. 1346/2000 of 29 May 2000 on insolvency proceedings;
Insolvency Regulation shall have the meaning provided in Section 8.01.
Insolvency Regulation shall have the meaning specified in Article 10(l) of this Agreement.
Insolvency Regulation means the Council Regulation (EC) n°1346/2000 of 29 May 2000 on insolvency proceedings. “Intercompany Note” means a promissory note substantially in the form of Exhibit K evidencing Indebtedness owed among the Loan Parties and the Restricted Subsidiaries. “Interest Election Request” means a request by the Borrower to convert or continue a Term Borrowing in accordance with Section 2.05. “Interest Payment Date” means (i) with respect to any Eurodollar Rate Loan, the last day of each Interest Period applicable to the Borrowing of which such Loan is a part and, in the case of a Eurodollar Rate Borrowing with an Interest Period of more than three months’ duration, each day that would have been an Interest Payment Date had successive Interest Periods of three months’ duration been applicable to such Borrowing and, in addition, the date of any refinancing or conversion of such Borrowing with or to a Borrowing of a different Type and (ii) with respect to any Base Rate Loan, the last Business Day of each March, June, September and December. “Interest Period” means, as to any Eurodollar Rate Borrowing, the period commencing on the date of such Borrowing or on the last day of the immediately preceding Interest Period applicable to such Borrowing, as applicable, and ending on the numerically corresponding day (or, if there is no numerically corresponding day, on the last day) in the calendar month that is 1, 3 or 6 months thereafter (or 9 or 12 months, if at the time of the relevant Borrowing, all relevant Lenders consent to such interest periods), as the Borrower may elect, or the date any Eurodollar Rate Borrowing is converted to a Base Rate Borrowing in accordance with Section 2.05 or repaid or prepaid in accordance with Section 2.06, 20 9482345
Insolvency Regulation has the meaning specified in Section 3.8(c).
Insolvency Regulation determines the jurisdiction of a Finnish court in cross-border insolvency proceedings when the centre of main interests of the debtor (“COMI”) is in Finland or in another EU Member State where the Insolvency Regulation is applicable. Pursuant to the Bankruptcy Act, where the debtor’s centre of main interests is in a state where the Insolvency Regulation is not applicable, a Finnish court shall have jurisdiction if the debtor has an establishment or other such assets in Finland that the opening of bankruptcy proceedings there can be deemed expedient. However, Finnish courts do not have jurisdiction if the debtor has been declared bankrupt in Iceland, Norway or Denmark and the debtor has had a domicile in that state. This follows from the Nordic Bankruptcy Convention signed in 1933, which is discussed below in Section 3.2.4. By virtue of Chapter 5, Section 1 of the Bankruptcy Act, Finnish courts and legal scholars take the position that a Finnish bankruptcy also encompasses assets of the bankrupt entity located outside the European Union (“EU”) and the Nordic Treaty Countries (principle of “universality”). However, Finnish law will not normally give legal effect to bankruptcy proceedings initiated in other countries (other than the European Economic Area4 (“EEA”) member countries and Nordic Treaty Countries) (principle of “territoriality”), except that it is likely that Finnish courts would accept the capacity of the foreign bankruptcy estate (liquidator or trustee) over the bankrupt entity to possess and dispose of the assets of the bankrupt entity in Finland. Furthermore, as regards entities located outside the EEA, the assets in Finland of an entity located outside the EEA may be subject to bankruptcy proceedings in Finland. Such proceedings would be conducted under the Bankruptcy Law and would not deviate from proceedings in respect of entities domiciled in Finland.
Insolvency Regulation means the Council Regulation (EC) No.1346/2000 29 May 2000 on Insolvency Proceedings. “Interest Coverage Ratio” has the meaning assigned to such term in Section 6.12(b).