Examples of UK Credit Party in a sentence
In respect of each UK Credit Party, and for the purposes of The Council of the European Union Regulation No. 1346/2000 on Insolvency Proceedings, its centre of main interest (as that term is used in Article 3(1) of such regulation) is situated in England and Wales and it has no “establishment” (as that term is used in Article 2(h) of such regulation) in any other jurisdiction.
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No UK Credit Party nor any of its Subsidiaries is or has at any time (a) been an employer (for the purposes of sections 38 to 51 of the Pensions Act 2004) of an occupational pension scheme which is not a money purchase scheme (both terms as defined in the Pensions Schemes Act 1993); or (b) been “connected” with or an “associate” of (as those terms are used in sections 38 and 43 of the Pensions Act 2004) such an employer.
It is understood and agreed that, notwithstanding anything to the contrary set forth in this Section 1.13(a), no U.K. Credit Party shall have any obligation to any Indemnified Person with respect to Indemnified Liabilities relating to Obligations of any U.S. Credit Party.
No U.K. Borrower shall have any right to possession of any such asset or to foreclose upon any such asset, whether by judicial action or otherwise, until the Termination Date (in the case of the assets of any Obligor that is a U.S. Credit Party) or the U.K. Termination Date (in the case of the assets of any Obligor that is a U.K. Credit Party).