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approved collapse

German translation: genehmigte Überführung / Anwachsung

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)

English term or phrase:	approved collapse
German translation:	genehmigte Überführung / Anwachsung
Entered by:	Silke Blumbach

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09:03 Mar 19, 2008

English to German translations [PRO]
Bus/Financial - Finance (general)

English term or phrase: approved collapse

In order to achieve the Change of the shareholder or for the purpose of optimising the tax structure, the Company may be collapsed (Anwachsung) into the Limited Partner by the withdrawal of the General Partner (Collapse), provided that the Lender is satisfied that:
(i) the Limited Partner complies with the special purpose vehicle requirements as required by the rating agencies and as determined by the Lender in its sole discretion;
(ii) a tax opinion from a reputable accounting firm or law firm confirming that the Collapse does not result in any adverse tax consequences to the Finance Parties or the Company has been delivered to the Lender;
(iii) adequate share security over the shares in the Limited Partner and other security necessary or desirable (as determined by the Lender in its sole discretion) will be provided to the Lender upon the Collapse;
(iv) the Limited Partner becomes a party to the Finance Documents as if it were the Company and the Finance Documents are amended as the Lender thinks in its sole discretion is necessary or desirable in connection with the Collapse;
(v) all costs and expenses (including legal fees) in connection with the Approved Collapse will be paid promptly by the Limited Partner; and
(vi) any other conditions, any authorisation or other document, opinion or assurance which the Lender has notified the Company before the Collapse as necessary or desirable to the Lender's satisfaction,
such approved Collapse being referred to as the Approved Collapse.