Limitation on Enforcement definition

Limitation on Enforcement or “Limitation Event”). For the purpose of determining whether a Limitation Event has occurred, any recourse claim (Rückgriffsanspruch) which the German Guarantor has, or would acquire, against a shareholder or another member of the Avis Europe Group as a result of the enforcement of the Guarantee shall be taken into account to the extent that such recourse claim is valuable (werthaltig) (“Recourse Claim”). To the extent that there is such Recourse Claim, no Limitation on Enforcement applies.
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Limitation on Enforcement or “Limitation Event”). For the purpose of determining whether a Limitation Event has occurred, any indemnification claim (Freistellungsanspruch within the German law meaning of that term) or recourse claim (Rückgriffsanspruch within the German law meaning of that term) which such German Guarantor has acquired, or would acquire against a shareholder or another Subsidiary of the Company or any of its affiliates as a result of entry into or the enforcement of the Note Guarantee, shall be taken into account to the extent that such indemnification or recourse claim is fully valuable (vollwertig) within the meaning of sentence 2 of paragraph 1 of § 30 GmbH-Act and in accordance with applicable court rulings of the German Federal Court of Justice (BGH) (“Recourse Claim”). To the extent that there is such Recourse Claim, no Limitation on Enforcement applies.
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Limitation on Enforcement or “Limitation Event”). For the avoidance of doubt, to the extent the enforcement of the German Guarantee would result in a fully valuable recourse claim (vollwertiger Rückgriffsanspruch) within the meaning of sentence 2 of paragraph 1 of § 30 GmbH-Act (“Recourse Claim”) of such German Guarantor, no Limitation on Enforcement applies and no Limitation Event occurs.
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Examples of Limitation on Enforcement in a sentence

  • To the extent that there is such Recourse Claim, no Limitation on Enforcement applies.

  • In relation to the amount which is disputed, the Limitation on Enforcement shall only apply if a firm of auditors of international standing and reputation has determined within 45 calendar days from the date the Agent has contested the Management Determination (i) the amount of the German Guarantor’s Net Assets and (ii) to what extent the demanded payment would lead to the occurrence of a Limitation Event (the “Auditor’s Determination”).

  • Limitation on Enforcement of Guaranties and Security Documents................................

  • For the purpose of this Clause 7 (Limitation on Enforcement): Up-Stream and/or Cross-Stream German Guarantee means in relation to a German Guarantor any guarantee and/or indemnity granted under this Guarantee directly or indirectly securing the obligations or liabilities of any member of the Relevant Group that is not a direct or indirect Relevant Subsidiary of such German Guarantor.

  • Limitation on Enforcement of Remedies.......................81 15.11.

  • Limitation on Enforcement of Remedies......................................40 13.11.

  • Limitation on Enforcement of Remedies....................................................

  • Limitation on Enforcement of Security Documents............................67 12.23.

  • Limitation on Enforcement of Remedies.............................................

  • For the avoidance of doubt, to the extent the enforcement of the Guarantee will result in a fully valuable recourse claim (vollwertiger Rückgriffsanspruch) within the meaning of sentence 2 of paragraph 1 of § 30 GmbH-Act ("Recourse Claim") of the German Guarantor against a third party including a shareholder or another member of the Group, no Limitation on Enforcement applies and no Limitation Event occurs.


More Definitions of Limitation on Enforcement

Limitation on Enforcement or “Limitation Event” has the meaning specified in Section 4.09(b).
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