Examples of Securitisation Law in a sentence
Pursuant to the Securitisation Law, the articles of association of the Company authorise its board of managers to create one or more independent parts of the Company's estate (patrimoine) (each individual part referred to as a "Compartment") distinguishable from the remaining part of Company's estate by the nature of assets or liabilities relating to such Compartment.
According to article 61(4) second paragraph of the Securitisation Law and without prejudice to the provisions of the law of 5 August 2005 on financial collateral arrangements, the validity and perfection of each of the security cannot be challenged by a bankruptcy receiver with respect to article 445 of the Luxembourg Code of Commerce and such security interests are hence enforceable even if they were granted by the company during the suspect period or ten days preceding the suspect period.
However, article 61(4) second paragraph of the Securitisation Law is only applicable if (i) the articles of association of the company granting the security interests are governed by the Securitisation Law and (ii) the company granted the respective security interests no later than the date of issuance of the securities or at the conclusion of the agreements secured by such security interests.
The Company (a) is subject to the Securitisation Law and (b) has by a resolution of its board of managers created compartment AirBlu 4.50% EUR 2029 to which all assets, rights and claims under the Notes and the Securitised Assets will be allocated.