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materiality or knowledge qualifications

German translation: Einschränkungen bezüglich Wesentlichkeit oder Kenntnis

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)

English term or phrase:	materiality or knowledge qualifications
German translation:	Einschränkungen bezüglich Wesentlichkeit oder Kenntnis
Entered by:	Jonas_Je

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21:59 Feb 25, 2009

English to German translations [PRO]
Law/Patents - Law: Contract(s) / Unternehmenskauf (Vertrag)

English term or phrase: materiality or knowledge qualifications

"The liability of the Seller for the representations and warranties in Clause xxx of this Agreement, except as stated otherwise, shall not arise unless all Purchaser Claims (disregarding *materiality or knowledge qualifications*) in the aggregate exceed EUR [..], in which event the Seller shall be liable for the whole amount and not only for the excess amount."

Kann mir jemand bei dem Eingesternten weiterhelfen?

Jonas_Je KudoZ activity Questions: 771 (4 open) (1 without valid answers) (22 closed without grading) Answers: 0
Local time: 08:15

Einschränkungen bezüglich Wesentlichkeit oder Kenntnis

Explanation:
Ich denke, es geht hier um Einschränkungen in den Gewährleistungen des Verkäufers bezüglich Wesentlichkeit und Kenntnis/Wissen. Das hat hier nichts mit fachlichen Qualifikationen zu tun.

Sinngemäß: Die Haftung des Verkäufers für die Gewährleistungen in Klausel xx ist ausgeschlossen, wenn die Ansprüche/Forderungen des Käufers insgesamt (ungeachtet der Einschränkungen hinsichtlich Wesentlichkeit oder Kenntnis) den Betrag von EUR [xx] nicht übersteigen ...

d.h. Angaben in den Gewährleistungen der Verkäufer, wie "material adverse effect", "material breach" oder "to the knowledge of the seller" (nach Wissen/Kenntnis des Verkäufers), werden bei Berechnung der Schadenersatzforderungen etc. nicht berücksichtigt

Selected response from:

lisa23
Germany
Local time: 08:15

Grading comment

Vielen Dank allerseits!
4 KudoZ points were awarded for this answer

Summary of answers provided

4 +4

Einschränkungen bezüglich Wesentlichkeit oder Kenntnis

lisa23

3 +1

Einschränkungen bzgl. der Wesentlichkeit der Ordnungsmäßigkeit und bzgl. des Wissens

Derek Gill Franßen

Erheblichkeit/Wesentlichkeit oder fachlichen Qualifikationen

Kristin Sobania

Discussion entries: 2

Answers

23 mins confidence:

Erheblichkeit/Wesentlichkeit oder fachlichen Qualifikationen

Explanation:
.

Kristin Sobania
Germany
Local time: 08:15
Specializes in field
Native speaker of:

German
PRO pts in category: 321

Notes to answerer

Asker: Danke, das stimmt mit meiner Interpretation überein.

12 hrs confidence:

peer agreement (net): +4

Einschränkungen bezüglich Wesentlichkeit oder Kenntnis

lisa23
Germany
Local time: 08:15
Specializes in field
Native speaker of:

German
PRO pts in category: 88

Grading comment

Vielen Dank allerseits!

13 hrs confidence:

peer agreement (net): +1

Einschränkungen bzgl. der Wesentlichkeit der Ordnungsmäßigkeit und bzgl. des Wissens

Explanation:
...oder evtl. "Vorbehalte bzgl. ..."; zugegeben, der Ausdruck könnte bestimmt verfeinert werden, aber hoffentlich hilft es weiter (es gibt u.U. ein bestimmter Begriff dafür, den ich nicht kenne oder der mir gerade nicht einfällt).

qulification. 1. [...] 2. A modification or limitation of terms or language; esp., a restriction of terms that would otherwise be interpreted broadly (cf. the first example sentence below). 3. [...].
(See the entry for "qulification" in Black's Law Dictionary, 8th edition.)

qualification 2. Einschränkung; Vorbehalt; subject to qualifications Änderungen vorbehalten.
(See the entry for "qulification" in Dietl/Lorenz, 6th edition, p. 669.)

material, adj. 1. [...] 2. [...] 3. Of such a nature that knowledge that knowledge of the item would affect a person's decisionmaking; significant; essential; [...] --materiality, n.
(See the entry for "material" in Black's Law Dictionary, 8th edition.)

materiality Wesentlichkeit, Erheblichkeit.
(See the entry for "materiality" in Dietl/Lorenz, 6th edition, p. 504.)

knowledge. 1. An awareness or understanding of a fact or circumstance; a state of mind in which a person has no substantial doubt about the existence of a fact.
(See the entry for "knowledge" in Black's Law Dictionary, 8th edition.)

knowledge Kenntnis(se), Wissen; [...] to the best of one's knowledge and belief nach bestem Wissen und Gewissen; [...].
(See the entry for "knowledge" in Dietl/Lorenz, 6th edition, p. 449.)

Note, however, that these terms belong together, i.e., this is referring to a "qualification of materiality":

"Materiality Standard
For example, the issue of materiality frequently arises in negotiations over the standard representation that a particular facility is in full compliance with all applicable environmental laws and regulations. The seller may argue that state and federal environmental regulations often are so arcane and deal with such minutiae that it is difficult for an entity to assert full compliance. Therefore, seller may argue that it is more accurate to state that a particular facility is in 'material compliance'. The buyer on the other hand may argue that even minor violations of environmental law may result in onerous sanctions and therefore the buyer is not adequately protected with the inclusion of the 'material' qualifier. Ultimately, the parties in each particular situation must resolve this issue. Ultimately, the parties in each particular situation must resolve this issue. However, factors the parties may want to consider in negotiating this issue are the nature of the business being acquired and the level of due diligence. For example, while it may be reasonable to represent that an internet service company is in full compliance with environmental laws, it may be unreasonable to represent that an oil refinery with a long documented history of regulatory issues is in full compliance rather than in 'material' compliance."
(See http://library.findlaw.com/2000/Nov/1/128389.html .)

"Knowledge Qualified
Another source of disagreement is whether a 'knowledge' qualifier should be inserted in the representation. A seller may want to qualify each environmental representation with the phrase 'to the best of its knowledge'. The buyer may resist this approach, assuming that the seller's knowledge may be faulty or incomplete. As with the above example, the resolution of this issue is the subject of negotiation between the parties, but there are some representations where such a qualifier is quite reasonable, while for other representations it may not be. For example, representations are sometimes made that a particular facility is not under investigation by any local, state or federal agencies. Regulatory agencies often engage in investigations without informing the target of such investigations. Therefore, it is logical that the statement 'to the best of its knowledge' should qualify such a representation. However, a party would have a stronger argument that a representation regarding the issuance of all necessary permits should not include such a qualifier because whether or not a particular facility has necessary environmental permits should be a matter fully disclosed through due diligence."
(Ibid.)

HTH =)

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Note added at 13 hrs (2009-02-26 11:21:30 GMT)
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Hmmm... the HTML-code looked good in the preview window. =/

Example sentence(s):

The contract contained a qualification requiring the permission of the lessor before excercising the right to sublet.

Derek Gill Franßen
Germany
Local time: 08:15
Specializes in field
Native speaker of: English
PRO pts in category: 242

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materiality or knowledge qualifications

German translation: Einschränkungen bezüglich Wesentlichkeit oder Kenntnis

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German translation: Einschränkungen bezüglich Wesentlichkeit oder Kenntnis

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