Spanish translation: ...derechos de retención que garantizan el pago...
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20:52 Aug 29, 2001
English to Spanish translations [PRO] Law/Patents
English term or phrase:Liens securing payment
This Agreement is made effective this [ ] day of [----], 1997, by and between bb and vv collectively, the "Current First Beneficiaries"), and [the Common Security Agent] (the "Additional First Beneficiary").
It is hereby agreed by the parties hereto that each of the Current First Beneficiaries and the Additional First Beneficiary (each, a "First Beneficiary"; collectively, the "First Beneficiaries") shall (i) consult with each respective First Beneficiary regarding the sharing of proceeds in respect their respective Liens securing payment by the Company of its Debt Obligations to all such First Beneficiaries; and (ii) share with each respective First Beneficiary the proceeds in respect of their respective Liens securing the payment by the Company of its Debt Obligations to all such First Beneficiaries. For the purposes of this Agreement, the parties hereto acknowledge that deposits of local currency (or US dollars) which are awaiting conversion or transfer to a First Beneficiary are not Liens.