Oct 21, 2019 10:26
4 yrs ago
3 viewers *
French term
Accuracy & Attention to Detail
Native in: English 
Works in: French to English, Spanish to English, Italian to English, and 2 more.
Retrait des affaires
French to English
Bus/Financial
Business/Commerce (general)
Context:
This is repeated a lot in a shareholders agreement.
I'm not sure exactly what the term would be for this in English.
ARTICLE 13 RETRAIT DES AFFAIRES
Cas de retrait des affaires
Pour les fins de la présente Convention, un Actionnaire sera réputé être visé par un « Retrait des affaires » si cet Actionnaire, son Actionnaire de contrôle, sauf dans le cas d’XXXX, ou l’un ou l’autre de ses Actionnaires ultimes est visé par l’un ou l’autre des événements suivants:
- il décède;
- il devient affecté d'une incapacité permanente, soit une incapacité physique ou mentale ou une maladie, l’empêchant d'assumer ses fonctions, tâches et responsabilités normales pour le service de la Société (ou l’une de ses Filiales, le cas échéant) pendant une période consécutive de plus de six (6) mois ou une durée cumulative de douze (12) mois sur une période consécutive de vingt-quatre (24) mois;
- il commet un vol, fraude ou détourne des fonds à l’encontre de la Société, d’une de ses Filiales ou d’un de leurs clients ou fournisseurs;
- il est reconnu coupable (i) d’un acte criminel ou (ii) d’une contravention à toute Législation anti-corruption;
- il (i) pose tout geste qui nuit à la réputation de la Société ou d’une de ses Filiales ou (ii) selon le cas, est ou devient une Entité sanctionnée;
- il fait défaut de respecter ses engagements prévus à l’ARTICLE 7 ou à l’ARTICLE 8 de la présente Convention;
dans le cas d’XXXX ou de XXXX, il fait défaut d’émettre ou de consentir la Lettre de garantie ou fait défaut de respecter ses obligations aux termes de celle-ci;
- il fait défaut de respecter ses engagements prévus à l’ARTICLE 16 de la présente Convention et, dans le cas où il peut être remédié au défaut, il n’est pas remédié au défaut dans les 30 jours de la réception d’un avis faisant état du défaut;
This is repeated a lot in a shareholders agreement.
I'm not sure exactly what the term would be for this in English.
ARTICLE 13 RETRAIT DES AFFAIRES
Cas de retrait des affaires
Pour les fins de la présente Convention, un Actionnaire sera réputé être visé par un « Retrait des affaires » si cet Actionnaire, son Actionnaire de contrôle, sauf dans le cas d’XXXX, ou l’un ou l’autre de ses Actionnaires ultimes est visé par l’un ou l’autre des événements suivants:
- il décède;
- il devient affecté d'une incapacité permanente, soit une incapacité physique ou mentale ou une maladie, l’empêchant d'assumer ses fonctions, tâches et responsabilités normales pour le service de la Société (ou l’une de ses Filiales, le cas échéant) pendant une période consécutive de plus de six (6) mois ou une durée cumulative de douze (12) mois sur une période consécutive de vingt-quatre (24) mois;
- il commet un vol, fraude ou détourne des fonds à l’encontre de la Société, d’une de ses Filiales ou d’un de leurs clients ou fournisseurs;
- il est reconnu coupable (i) d’un acte criminel ou (ii) d’une contravention à toute Législation anti-corruption;
- il (i) pose tout geste qui nuit à la réputation de la Société ou d’une de ses Filiales ou (ii) selon le cas, est ou devient une Entité sanctionnée;
- il fait défaut de respecter ses engagements prévus à l’ARTICLE 7 ou à l’ARTICLE 8 de la présente Convention;
dans le cas d’XXXX ou de XXXX, il fait défaut d’émettre ou de consentir la Lettre de garantie ou fait défaut de respecter ses obligations aux termes de celle-ci;
- il fait défaut de respecter ses engagements prévus à l’ARTICLE 16 de la présente Convention et, dans le cas où il peut être remédié au défaut, il n’est pas remédié au défaut dans les 30 jours de la réception d’un avis faisant état du défaut;
Proposed translations
(English)
| 3 +2 | exit |
Wolf Draeger
|
| 4 +1 | Withdrawal from Business |
Julie Barber
|
| 4 | businerss exit |
Francois Boye
|
Proposed translations
+2
1 hr
Selected
exit
The first word that comes to mind is "withdrawal", but I think what is being meant here is the conditions under which a shareholder or partner can be forced out.
Though the text seems to focus on involuntary rather than both voluntary and involuntary cases, "exit" may still be the best way to put it. Maybe a wording with "forced exit" or the like.
My example sentences are no less clunky than the ST...
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Note added at 1 hr (2019-10-21 11:40:15 GMT)
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See also:
https://gltlaw.my/2019/04/24/shareholders-agreement-business...
https://www.bakertilly.ca/en/wm-toronto-ontario/publications...
https://en.wikipedia.org/wiki/Shareholders'_agreement
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Note added at 1 hr (2019-10-21 11:40:59 GMT)
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Of course, "forced exit" is rather unkind in the case of death or disability, but you get the idea.
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Note added at 1 hr (2019-10-21 11:47:13 GMT)
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Another stab at example sentences:
For the purposes of this Agreement, an Exit Provision shall apply to a Shareholder if any of the following events pertain to said Shareholder, their controlling shareholder, except in the case of XXXX, or any of their eventual shareholders:
Under this Agreement, a Shareholder is deemed to have exited the share capital if said Shareholder, their controlling shareholder, except in the case of XXXX, or any of their eventual shareholders:
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Note added at 13 hrs (2019-10-21 23:36:44 GMT)
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Another option is "departure". If you search for various combinations & inflections of "shareholder" and "departure" you'll find a number of pages that discuss when a shareholder leaves a company and also mention buyouts.
Judging from the instances of retrait des affaires I found online, the term is in use in Canadian French alongside talk of buyout clauses, shotgun clauses and so on, which all points to a shareholder selling or losing their stake.
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Note added at 2 days 48 mins (2019-10-23 11:14:45 GMT)
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Last try: forfeit.
In combination with something like "office" or "rights & duties" or "stake" or "shareholding" or anything that describes losing one's seat at the table.
Of course, forfeit is even harsher than exit for death and disability, but I'm running out of ideas...
"For the purposes of this Agreement, a Shareholder's stake shall be considered forfeit if any of the following events apply to them, their controlling shareholder, except in the case of XXXX, or any of their eventual shareholders:"
"Under this Agreement, a Shareholder is deemed to forfeit their office/stake if they, their controlling shareholder, except in the case of XXXX, or any of their eventual shareholders:"
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Note added at 2 days 12 hrs (2019-10-23 23:25:39 GMT)
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Last last try: divest.
It would be an uncommon but not incorrect use of the term, which usually refers to companies disposing of units or entities rather than shareholders being deprived of their rights or losing their stake.
"For the purposes of this Agreement, a Shareholder shall be divested of their stake if any of the following events apply to them, their controlling shareholder, except in the case of XXXX, or any of their eventual shareholders:"
"Under this Agreement, a Shareholder is deemed to be divested if they, their controlling shareholder, except in the case of XXXX, or any of their eventual shareholders:"
Though the text seems to focus on involuntary rather than both voluntary and involuntary cases, "exit" may still be the best way to put it. Maybe a wording with "forced exit" or the like.
My example sentences are no less clunky than the ST...
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Note added at 1 hr (2019-10-21 11:40:15 GMT)
--------------------------------------------------
See also:
https://gltlaw.my/2019/04/24/shareholders-agreement-business...
https://www.bakertilly.ca/en/wm-toronto-ontario/publications...
https://en.wikipedia.org/wiki/Shareholders'_agreement
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Note added at 1 hr (2019-10-21 11:40:59 GMT)
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Of course, "forced exit" is rather unkind in the case of death or disability, but you get the idea.
--------------------------------------------------
Note added at 1 hr (2019-10-21 11:47:13 GMT)
--------------------------------------------------
Another stab at example sentences:
For the purposes of this Agreement, an Exit Provision shall apply to a Shareholder if any of the following events pertain to said Shareholder, their controlling shareholder, except in the case of XXXX, or any of their eventual shareholders:
Under this Agreement, a Shareholder is deemed to have exited the share capital if said Shareholder, their controlling shareholder, except in the case of XXXX, or any of their eventual shareholders:
--------------------------------------------------
Note added at 13 hrs (2019-10-21 23:36:44 GMT)
--------------------------------------------------
Another option is "departure". If you search for various combinations & inflections of "shareholder" and "departure" you'll find a number of pages that discuss when a shareholder leaves a company and also mention buyouts.
Judging from the instances of retrait des affaires I found online, the term is in use in Canadian French alongside talk of buyout clauses, shotgun clauses and so on, which all points to a shareholder selling or losing their stake.
--------------------------------------------------
Note added at 2 days 48 mins (2019-10-23 11:14:45 GMT)
--------------------------------------------------
Last try: forfeit.
In combination with something like "office" or "rights & duties" or "stake" or "shareholding" or anything that describes losing one's seat at the table.
Of course, forfeit is even harsher than exit for death and disability, but I'm running out of ideas...
"For the purposes of this Agreement, a Shareholder's stake shall be considered forfeit if any of the following events apply to them, their controlling shareholder, except in the case of XXXX, or any of their eventual shareholders:"
"Under this Agreement, a Shareholder is deemed to forfeit their office/stake if they, their controlling shareholder, except in the case of XXXX, or any of their eventual shareholders:"
--------------------------------------------------
Note added at 2 days 12 hrs (2019-10-23 23:25:39 GMT)
--------------------------------------------------
Last last try: divest.
It would be an uncommon but not incorrect use of the term, which usually refers to companies disposing of units or entities rather than shareholders being deprived of their rights or losing their stake.
"For the purposes of this Agreement, a Shareholder shall be divested of their stake if any of the following events apply to them, their controlling shareholder, except in the case of XXXX, or any of their eventual shareholders:"
"Under this Agreement, a Shareholder is deemed to be divested if they, their controlling shareholder, except in the case of XXXX, or any of their eventual shareholders:"
Example sentence:
For the purposes of this Agreement, a Shareholder is deemed to come under an Exit Provision if said Shareholder, their controlling shareholder, except in the case of XXXX, or any of their eventual shareholders:
Under this Agreement, a Shareholder shall be forced to exit if any of the following events apply to said Shareholder, their controlling shareholder, except in the case of XXXX, or any of their eventual shareholders:
Peer comment(s):
| agree |
philgoddard
: I think withdrawal is fine too.
7 hrs
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Thanks, Phil!
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| agree |
CHRISTOPHE DESBOIS-FARLAY
: Agree. Forces exit males sense in this context. The same idea can be found in the following : business termination, or business discontinuation.
14 hrs
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Thanks, Christophe!
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| agree |
Paula McMullan
: I agree with withdrawal. To me, there's an implication in this term that it could be active or passive i.e. someone chooses to withdraw (because they retire) or they don't (they're disqualified, or they die, etc)
1 day 2 hrs
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Thanks, Paula!
|
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| disagree |
SafeTex
: Sorry Wolf but I think that "withdrawal" is better as others have argued too, even when agreeing with you ?!?!?!
2 days 22 hrs
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No worries! I don't think "withdrawal" really fits (despite agrees), but feel free to post it as an answer :)
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4 KudoZ points awarded for this answer.
Comment: "Selected automatically based on peer agreement."
5 hrs
Francois Boye
United States
United States
Native in French
Specializes in field
United States
An economic geek with social skills
Native in: French
Works in: English to French, French to English, Spanish to English, and 1 more.
Related KudoZ points
:
102
businerss exit
A business exit strategy is an entrepreneur's strategic plan to sell his or her ownership in a company to investors or another company. An exit strategy gives a business owner a way to reduce or liquidate his stake in a business and, if the business is successful, make a substantial profi
Source: Investopedia
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Note added at 9 hrs (2019-10-21 19:36:05 GMT)
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ERRATUM: BUSINESS instead of businerss
Source: Investopedia
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Note added at 9 hrs (2019-10-21 19:36:05 GMT)
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ERRATUM: BUSINESS instead of businerss
Peer comment(s):
| agree |
AllegroTrans
1 hr
|
| neutral |
philgoddard
: "Business" is unnecessary.
3 hrs
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a business exit isn't any kind of exit!
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| disagree |
SafeTex
: Sorry François but I thing "withdrawal" has it in the discussions but no one has posted it which is odd
2 days 17 hrs
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A business exit strategy is an entrepreneur's strategic plan to sell his or her ownership in a company to investors or another company. An exit strategy gives a business owner a way to reduce or liquidate his stake in a business ...
|
+1
3 days 21 hrs
Julie Barber
United Kingdom
United Kingdom
Native in English
Specializes in field
United Kingdom
Related KudoZ points
:
166
Withdrawal from Business
I am posting following the asker's request.
My reasons for agreeing with the suggestions are:
There are variations of this in English contacts, such as Death & Incapacity clauses
https://elselaw.co.uk/shareholders-agreements-private-limite...
However, this clause has additional elements that would probably count as Disqualification, but the authors have not given these specific terms. Instead then have used the overarching, less specif term "withdrawal from business". The text provides a very clear list of what is included and therefore perfectly clarifies the meaning to the reader.
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Note added at 3 days 21 hrs (2019-10-25 07:40:28 GMT)
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Also it does not relate in anyway to a "business exit strategy" as described on an answer above. The list of items included gives a very different description and I do not think that "exit" as a stand alone word covers it well enough, it is too vague
My reasons for agreeing with the suggestions are:
There are variations of this in English contacts, such as Death & Incapacity clauses
https://elselaw.co.uk/shareholders-agreements-private-limite...
However, this clause has additional elements that would probably count as Disqualification, but the authors have not given these specific terms. Instead then have used the overarching, less specif term "withdrawal from business". The text provides a very clear list of what is included and therefore perfectly clarifies the meaning to the reader.
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Note added at 3 days 21 hrs (2019-10-25 07:40:28 GMT)
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Also it does not relate in anyway to a "business exit strategy" as described on an answer above. The list of items included gives a very different description and I do not think that "exit" as a stand alone word covers it well enough, it is too vague
Note from asker:
| Yes, this is the answer. Thanks for posting it. I wanted to make sure it was published because, for this particular context, this is what worked best and the client validated. |
Peer comment(s):
| agree |
SafeTex
: Several of us have argued for this in the discussion thread
3 days 9 hrs
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Thanks, yes I posted it following on from the collective discussion above and also at the asker's request that one of us post it
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Discussion
Nonobstant toute disposition à l’effet contraire du présent paragraphe 13.9, un Actionnaire visé par un Retrait des Affaires conserve son droit de recevoir sa part proportionnelle des dividendes déclarés de temps à autre par le conseil d’administration et les Actionnaires conformément au paragraphe 5.1.3.
I was going to put this up but then saw that many people have already argued for it.
The noun "withdrawal" covers voluntary or non-voluntary events and as for the verb in the text, you could say the director "withdrew" or " was withdrawn" but this does not really work if you use "exit" ("was exited?!")
Finally ARTICLE 13 "In the event of Exit" sounds weird too while "In the event of Withdrawal" sounds classy and covers again the voluntary/non voluntary situations.
'• compulsory retirement;
• becoming permanently incapable of discharging efficiently the duties of his employment or any other comparable employment with the Company or a Subsidiary by reason of ill health or infirmity of mind or body, injury or disability (evidenced to the satisfaction of the Management Board); ' www.eban.org › wp-content › uploads › 2018/11 › Ex...
Conseil d’administration
Les Actionnaires conviennent que le Conseil d’administration de la Société (et de toute Filiale de celle-ci, le cas échéant) sera initialement composé de cinq administrateurs.
Les Actionnaires et, lorsqu’applicable, la Société, à titre d’actionnaire des Filiales, exerceront leurs droits de vote ou signeront les résolutions appropriées afin de permettre aux Actionnaires qui ne sont pas visés par un Retrait des affaires de désigner un administrateur pour chaque tranche de 20% d’Actions votantes qu’ils détiennent, soit, en date des présentes, le nombre d’administrateurs suivant pour chaque Actionnaire:
And another...
pas visé par un Retrait des affaires....
Le président du Conseil d’administration doit être choisi parmi le(s) administrateur(s) désigné(s) par l’Actionnaire détenant le plus grand nombre d’Actions votantes, à condition que celui-ci détienne plus de 50% des Actions votantes et qu’il ne soit pas visé par un Retrait des affaires, à défaut de quoi le président du Conseil d’administration sera choisi par les administrateurs parmi tous les administrateurs.