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prendre inscription

English translation: He expressly waives making a registered entry (of liens etc.)...

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:prendre inscription
English translation:He expressly waives making a registered entry (of liens etc.)...
Entered by: xxxKirstyMacC
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14:40 Mar 29, 2004
French to English translations [PRO]
Law/Patents - Finance (general)
French term or phrase: prendre inscription
Merger agreement. Can't figure out what this means here.

"Le représentant de la Société Absorbée déclare désister celle-ci purement et simplement de tous privilèges et actions résolutoires pouvant profiter à ladite société sur les biens apportés en garantie des charges et conditions imposées à la Société Absorbante aux termes du présent projet. En conséquence, il dispense expressément de prendre inscription au profit de la Société Absorbée pour quelque cause que ce soit."
Mary Lalevee
United Kingdom
Local time: 10:15
He expressly waives making a registered entry (of liens etc.)...
Explanation:
'The Target Co's representative expressly waives making a regd. entry in the Target Co's favour.'

The target co.'s claims against the acquiring Co. are swallowed up in the merger. To save the invidious situation of e.g. a subsidiary registering a claim against the parent, the subsidiary's agent drops the registration formality - and with it watertight causes of action.
Selected response from:

xxxKirstyMacC
Local time: 10:15
Grading comment
Thanks, what I put was "he waives [the Company's right]to register any lien in the Company's favour".
4 KudoZ points were awarded for this answer

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Summary of answers provided
3 +2He expressly waives making a registered entry (of liens etc.)...xxxKirstyMacC
3discharge [someone] from registering [liens, mortgages]
lenkl


  

Answers


58 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
discharge [someone] from registering [liens, mortgages]


Explanation:
The standard form in French merger or liquidation agreements is "dispenser le consevateur des hypothèques de prendre inscription d'office..." and this seems to be a short way of saying the same thing.

lenkl
Local time: 11:15
Specializes in field
PRO pts in category: 110
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4 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +2
He expressly waives making a registered entry (of liens etc.)...


Explanation:
'The Target Co's representative expressly waives making a regd. entry in the Target Co's favour.'

The target co.'s claims against the acquiring Co. are swallowed up in the merger. To save the invidious situation of e.g. a subsidiary registering a claim against the parent, the subsidiary's agent drops the registration formality - and with it watertight causes of action.

xxxKirstyMacC
Local time: 10:15
Native speaker of: Native in EnglishEnglish
PRO pts in category: 50
Grading comment
Thanks, what I put was "he waives [the Company's right]to register any lien in the Company's favour".

Peer comments on this answer (and responses from the answerer)
agree  lenkl: Most likely what is meant here
17 hrs

agree  Vicky Papaprodromou
1 day13 hrs
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