KudoZ home » French to English » Law: Contract(s)

à concurrence du montant excédent la franchise

English translation: [only] to the extent it exceeds the amount stipulated [in Article..]

Advertisement

Login or register (free and only takes a few minutes) to participate in this question.

You will also have access to many other tools and opportunities designed for those who have language-related jobs
(or are passionate about them). Participation is free and the site has a strict confidentiality policy.
10:39 Mar 6, 2007
French to English translations [PRO]
Law/Patents - Law: Contract(s) / share transfer agreement
French term or phrase: à concurrence du montant excédent la franchise
The full sentence is: En conséquence, de convention expresse, Madame XXX et Monsieur XXX s’engagent, solidairement entre eux, à régler de leurs deniers 100 % de tout amoindrissement de la valeur de l’actif net de la société XXX par rapport à l’actif net résultant du bilan au 31 décembre 2006, mais uniquement *à concurrence du montant excédent la franchise* visée à l’article XX ci-après.

I think excédent should read excédant? I have written "only over and above the excess referred to in Article XXX below", but would really appreciate some help, as I'm not sure of the best way to translate "franchise", and I'm also not sure whether I'm OK with the "over and above" bit. Thanks!
xxxRebekah Wils
Local time: 22:00
English translation:[only] to the extent it exceeds the amount stipulated [in Article..]
Explanation:
Exactly...what is franchise intended to mean in this context? Can you tell us the nature of the business?

Essentially, they are reducing the level of capital in the company...they are going to distribute capital to themselves. However, this amount cannot exceed a certain value.

My guess that it is a legal barrier (ie, a certain level of capital must remain in the company by law and certain capital is considered non-distributable - eg, loss reserves) or a contractual barrier (ie, minimum capital requirement imposed by a third party - could it be a master franchiser? therefore, stipulated in a franchise agreement).



--------------------------------------------------
Note added at 51 mins (2007-03-06 11:30:59 GMT)
--------------------------------------------------

"in excess of the amounts exempted in Article XX...."

with the additional information, it occurs to me that these two individuals are exiting as part of the overall sale process. In that case, does Article XX deal with warranties by any chance?

--------------------------------------------------
Note added at 1 hr (2007-03-06 12:12:23 GMT)
--------------------------------------------------

answer to your additional information.

OK. Perhaps then, they are leaving an amount of capital in the business which they will receive at a later date "deferred compensation" subject to certain criteria being met.

In that case, I think my updated phrasing "in excess of the amounts excluded in Article/Paragraph XX...etc." would work.
Selected response from:

xxxDCypher
Local time: 23:00
Grading comment
Thanks for the help!
4 KudoZ points were awarded for this answer

Advertisement


Summary of answers provided
4 +2[only] to the extent it exceeds the amount stipulated [in Article..]xxxDCypher


Discussion entries: 1





  

Answers


27 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
[only] to the extent it exceeds the amount stipulated [in Article..]


Explanation:
Exactly...what is franchise intended to mean in this context? Can you tell us the nature of the business?

Essentially, they are reducing the level of capital in the company...they are going to distribute capital to themselves. However, this amount cannot exceed a certain value.

My guess that it is a legal barrier (ie, a certain level of capital must remain in the company by law and certain capital is considered non-distributable - eg, loss reserves) or a contractual barrier (ie, minimum capital requirement imposed by a third party - could it be a master franchiser? therefore, stipulated in a franchise agreement).



--------------------------------------------------
Note added at 51 mins (2007-03-06 11:30:59 GMT)
--------------------------------------------------

"in excess of the amounts exempted in Article XX...."

with the additional information, it occurs to me that these two individuals are exiting as part of the overall sale process. In that case, does Article XX deal with warranties by any chance?

--------------------------------------------------
Note added at 1 hr (2007-03-06 12:12:23 GMT)
--------------------------------------------------

answer to your additional information.

OK. Perhaps then, they are leaving an amount of capital in the business which they will receive at a later date "deferred compensation" subject to certain criteria being met.

In that case, I think my updated phrasing "in excess of the amounts excluded in Article/Paragraph XX...etc." would work.

xxxDCypher
Local time: 23:00
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 55
Grading comment
Thanks for the help!
Notes to answerer
Asker: Hi, thanks for your help. I don't know what franchise means in this context, it doesn't occur anywhere else in the contract, but as the contract concerns the sale of all the shares in the company, essentially the whole company, I think "franchise" is this case means something like exemption or allowance. The business is a metals processing company.

Asker: The article referred to says the following: 7 - 2 - Franchise Par exception, tant que les sommes restant dues au titre du présent engagement n’excéderont pas €XXX, les cessionnaires renoncent à en réclamer l’exigibilité. En revanche, si les sommes restant dues au titre du présent engagement viennent à dépasser la somme de €XXX, elles devront être versées sans terme ni délai mais seulement pour la partie excédent ladite somme de €XXX" It's to do with adjusting the sale price if future profits do not reach the expected level. Thank you for your help so far.


Peer comments on this answer (and responses from the answerer)
agree  MikeGarcia: Damned good answer, and well founded too....
5 mins

agree  rkillings: But no need to skirt the translation of 'franchise': it means the deductible (or UK excess), as in insurance.
1 day19 hrs
Login to enter a peer comment (or grade)




Return to KudoZ list


KudoZ™ translation help
The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.



See also:



Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search