GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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00:22 Oct 26, 2020 |
Spanish to English translations [PRO] Bus/Financial - Finance (general) | |||||||
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| Selected response from: Adrian MM. Austria | ||||||
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Summary of answers provided | ||||
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4 | Receivables Pledge Agreement |
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2 | Pledge agreement over credit rights |
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Summary of reference entries provided | |||
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Refs. |
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Pledge agreement over credit rights Explanation: Pledge agreement over credit rights under a profit participating intercompany loan agreement. https://find-and-update.company-information.service.gov.uk/c... A. The PLEDGEE and the PLEDGOR are parties to that certain Credit Agreement, dated as of February 22, 2007 (the “Original Credit Agreement”), in connection to which, the PLEDGOR pledged its credit rights derived from a certain crude oil commercial sales agreement, dated December 1, 2006 (the “2006 Ecopetrol Offtake Agreement”), between ECOPETROL (as defined below) and the PLEDGOR, pursuant to the First Priority Open Pledge Agreement Over Credit Rights Derived From A Crude Oil Sales Agreement, dated as of February 22, 2007 (the “Original Pledge Agreement”). https://www.sec.gov/Archives/edgar/data/1273441/000114420410... There aren't many references for 'pledge agreements over credit rights'; there are much more for 'pledges over credit rights'. At that moment, the legislator, referring literally to pledges "securing" future credits and pledges "over" future credits, seemed to oblige any pledge created as security for future credits to be recorded in a public registry (ultimately understood to be the Registry of Moveable Assets) in order to enjoy the special privilege. The doubts generated by this wording generated a notorious increase in the creation of pledges of credits under the formula of pledges without transfer of possession, which were recorded in the Registry of Moveable Assets, to the detriment of the pledge with transfer regulated in the Spanish Civil Code, which is simpler, less formal and cheaper. https://www.cliffordchance.com/content/dam/cliffordchance/br... |
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Receivables Pledge Agreement Explanation: I'm not sure what 'credit rights' are - and some international law firms, often in my experience producing substandard inhouse FR/ SP>ENG etc. glossaries, ought to know better - but they are akin to receivables as choses in action that can be assigned, pledged or 'factored' / sold. Suscribir el contrato de prénda de derechos de crédito derivados de contratos : sign up to the Agreement to pledge contracts-derivative receivables ... Reference: http://www.proz.com/kudoz/english-to-spanish/law-general/556... Reference: http://www.mpstarfinancial.com/factoring-receivables/ |
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Reference: Refs. Reference information: https://www.repsol.com/imagenes/global/es/formalizacion vent... Pledge over Credit Rights means the pledge created to secure the Secured Obligations over the credits rights derived from the Sale and Purchase Agreement created by Deed executed on the date hereof by the Borrower, the Lenders and the Collateral Agent (as defined therein) and authorized by me, the Notary Public. EXHIBIT G-4 – Form of Holdings Credit Rights Pledge Agreement “Holdings Credit Rights Pledge Agreement” means the Deed of Pledge of the Credit Rights derived from the resolution approving the Equity Contribution among Holdings, the Borrower, the Lenders and the Collateral Agent, in the form of Exhibit G-4. **Credit Rights Pledge Agreement/Pledge over Credit Rights Agreement** https://www.lawinsider.com/contracts/aZBetoiEi1V#peisa (PEISA - PETERSEN ENERGÍA INVERSORA, S.A.U.) PLEDGE AND SECURITY AGREEMENT PLEDGE AND SECURITY AGREEMENT (as the same may be amended, modified or supplemented from time to time hereto, this “Agreement”) dated as of November 12, 2008 between PETERSEN ENERGÍA INVERSORA, S.A.U., a sociedad anónima duly organized and validly existing under the laws of the Kingdom of Spain (“Spain”)(the “Borrower” or “Pledgor”), REPSOL YPF, S.A., a sociedad anónima duly organized and validly existing under the laws of the Kingdom of Spain (the “Guarantor”), and THE BANK OF NEW YORK MELLON, as collateral agent for the Guarantor (in such capacity, together with its successors in such capacity, the “Collateral Agent”). |
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