contrato de prénda de derechos de crédito

English translation: Receivables Pledge Agreement

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:contrato de prénda de derechos de crédito
English translation:Receivables Pledge Agreement
Entered by: Adrian MM.

00:22 Oct 26, 2020
Spanish to English translations [PRO]
Bus/Financial - Finance (general)
Spanish term or phrase: contrato de prénda de derechos de crédito
From Argentine Minutes of Meeting:

Suscribir el contrato de prénda de derechos de crédito derivados de contratos a los efectos de que la Sociedad realice cualesquiera manifestaciones, tome conocimientos de cualesquiera circunstancias, asuma cualesquiera obligaciones y/o acepte cualesquiera derechos, y en particular, en su condición de contraparte del Acuerdo de Accionistas, autorice la pignoración que realizará PEISA en virtud del mismo, suscribiendo cualesquiera documentos, público o privados, todo ello en los términos y condiciones que los Apoderados estimen conveniente y/o necesario, realizando cualesquiera actuaciones.
spanruss
United States
Local time: 07:32
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 ...
Selected response from:

Adrian MM.
Austria
Grading comment
Thanks Adrian!
4 KudoZ points were awarded for this answer



Summary of answers provided
4Receivables Pledge Agreement
Adrian MM.
2Pledge agreement over credit rights
Helena Chavarria
Summary of reference entries provided
Refs.
Taña Dalglish

  

Answers


48 mins   confidence: Answerer confidence 2/5Answerer confidence 2/5
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...

Helena Chavarria
Spain
Local time: 13:32
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 151
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1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
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/
Adrian MM.
Austria
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 139
Grading comment
Thanks Adrian!
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Reference comments


43 mins peer agreement (net): +1
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”).

Taña Dalglish
Jamaica
Works in field
Native speaker of: English
PRO pts in category: 258

Peer comments on this reference comment (and responses from the reference poster)
agree  EirTranslations
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