Spanish Insolvency Law definition

Spanish Insolvency Law means the restated text of the Spanish Insolvency Law (Ley Concursal) approved by the Royal Decree-Legislative 1/2020, of 5 May, as amended from time to time.

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Spanish Insolvency Law means the Royal Legislative Decree 1/2020 of May 5 approving the restated text of the Insolvency law (Real Decreto Legislativo 1/2020, de 5 ▇▇ ▇▇▇▇, por el que se aprueba el texto refundido de ▇▇ ▇▇▇ Concursal), as amended from time to time.

Spanish Insolvency Law means the restated text of the Spanish Insolvency Law (Ley Concursal) approved by the Royal Decree-Legislative 1/2020, of 5 May, as amended or replaced from time to time. The provisions of Section 12.01 of the Senior Non Preferred Debt Securities Indenture, and Section 2.01(t) of the Third Supplemental Indenture shall apply only to rights or claims payable with respect to the 2030 Floating Rate Notes and nothing herein shall affect or prejudice the payment of the costs, charges, expenses, liabilities, indemnity or remuneration of the Trustee, the first lien rights of the Trustee under Section 6.08 of the Base Indenture, or the rights and remedies of the Trustee in respect thereof. The Company agrees with respect to the 2030 Floating Rate Notes and each Holder of the 2030 Floating Rate Notes, by his or her acquisition of the 2030 Floating Rate Notes, will be deemed to have agreed to the ranking as described herein. Each such Holder will be deemed to have irrevocably waived his or her rights of priority which would otherwise be accorded to him or her under the laws of Spain, to the extent necessary to effectuate the ranking provisions of the 2030 Floating Rate Notes. In addition, each Holder of the 2030 Floating Rate Notes by his or her acquisition of such 2030 Floating Rate Notes authorizes and directs the Trustee on his or her behalf to take such action as may be necessary or appropriate to effectuate the ranking of such 2030 Floating Rate Notes as provided in the Senior Non Preferred Debt Securities Indenture, and as summarized herein and appoints the Trustee as his or her attorney-in-fact for any and all such purposes. Notwithstanding any other term of this Note or any other agreements, arrangements, or understandings between the Company and any Holder of the 2030 Floating Rate Notes, by its acquisition of this Note, each Holder (which includes each holder of a beneficial interest in this Note) acknowledges, accepts, consents to and agrees: (i) to be bound by the effect of the exercise of the Bail-in Power by the Relevant Resolution Authority, which may include and result in any of the following, or some combination thereof: the reduction of all, or a portion, of the Amounts Due on a permanent basis; the conversion of all, or a portion, of the Amounts Due into Common Equity Tier 1 Instruments, other securities or other obligations of the Company or another person (and the issue to the Holder of such Common Equity Tier 1 Instruments, securities or obligat...

Examples of Spanish Insolvency Law in a sentence

The obligations of each Spanish Loan Party under this Clause 8 will not be affected by any action made under the Additional Section 4 (Disposición Adicional Cuarta) of the Spanish Insolvency Law, 22/2003 (Ley Concursal) in relation to any other Spanish Loan Party.
Claims of Holders of Senior Non Preferred Debt Securities of any series in respect of interest accrued but unpaid as of the commencement of any insolvency procedure in respect of the Company shall constitute subordinated claims (créditos subordinados) against the Company ranking in accordance with the provisions of Article 281.1.3º of the Spanish Insolvency Law and no further interest shall accrue from the date of the declaration of insolvency of the Company.
The obligations of the Company in respect of this Security will be effectively subordinated to those obligations that are preferred under the Spanish Insolvency Law.
Claims of Holders of Subordinated Debt Securities of any series in respect of interest accrued but unpaid as of the commencement of any insolvency procedure in respect of the Company shall constitute subordinated claims (créditos subordinados) against the Company ranking in accordance with the provisions of Article 92.3º of the Spanish Insolvency Law and no further interest shall accrue from the date of the declaration of insolvency of the Company.
Claims of Holders of Senior Preferred Debt Securities of any series in respect of interest accrued but unpaid as of the commencement of any insolvency procedure in respect of the Company shall constitute subordinated claims (créditos subordinados) against the Company ranking in accordance with the provisions of Article 281.1.3º of the Spanish Insolvency Law, and no further interest shall accrue from the date of the declaration of insolvency of the Company.

More Definitions of Spanish Insolvency Law

Spanish Insolvency Law means Law ▇▇/▇▇▇▇ (▇▇▇ ▇▇▇▇▇▇▇▇▇) of 9 July 2003 regulating insolvency proceedings in Spain, or an equivalent legal provision which replaces it in the future.

Spanish Insolvency Law means Law 22/2003 (Ley Concursal) of July 9, regulating insolvency proceedings in Spain, as amended or supplemented from time to time, or an equivalent legal provision which replaces it in the future.

Spanish Insolvency Law means Ley ▇▇/▇▇▇▇, ▇▇ ▇ ▇▇ ▇▇▇▇▇, Concursal, as amended from time to time.

Spanish Insolvency Law means Law 22/2003, of 9 July 2003 (Ley Concursal), as amended from time to time or any equivalent legal provision which replaces it in the future;

Spanish Insolvency Law means the Spanish insolvency law (Ley Concursal) 22/2003, of July 9.

Spanish Insolvency Law means the consolidated text of the Insolvency Law (Texto Refundido de la Ley Concursal), approved by the Spanish Royal Legislative Decree 1/2020, of 5 May, as amended or substituted from time to time.

Spanish Insolvency Law means the Law 22/2003 of 9 July 2003, on insolvency ( Ley 22/2003, de 9 de julio, Concursal ), as amended from time to time.