Restricted Obligations definition
Examples of Restricted Obligations in a sentence
Subject only to the limitation of the amount to be paid in respect of the Restricted Obligations, each Swiss Guarantor and the Issuer undertake to take and/or cause all measures necessary or useful to (a) make such payment valid and non-refundable under Swiss corporate law; and (b) implement the forgoing documents and other acts.
The limitation set forth above shall only apply to the extent it is a requirement under applicable law at the time the Swiss Borrower is required to perform Swiss Restricted Obligations under this Agreement or any other Loan Document.
The limitation in this Section 16.02(b) shall only apply to the extent that it constitutes a requirement under Swiss mandatory legal and accounting principles at the time a Swiss Guarantor is required to perform the Restricted Obligations.
The limitation to the Swiss Available Amount (as may apply from time to time) shall not definitively free the Swiss Guarantor from the Restricted Obligations in excess of the Swiss Available Amount, but merely postpone the payment date therefor until such times as payment is again permitted under applicable Swiss law.
If the enforcement of Restricted Obligations would be limited due to the effects referred to in this Clause 11.10.6, then the Swiss Guarantor shall (i) to the extent permitted by applicable law, revalue and/or realize any of its assets that are shown on its balance sheet with a book value that is significantly lower than the market value of such assets, and (ii) reduce its share capital to the minimum allowed under then applicable law.