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Spanish to English translations [PRO] Bus/Financial
Spanish term or phrase:tomar en prenda
Autorización para adquirir directa o indirectamente y/o tomar en prenda acciones propias de acuerdo con lo preceptuado en los articulos 75 y 76 de la Ley de sociedades Anonimas. Is this pledge? Is acciones propias treasury stock or what? Many thanks.
(Fin) garantía f subsidiaria;
~ loan (n) préstamo m colateral;
~ security (n) garantía f colateral;
(given as security, token) prenda f;
(promise) promesa f; garantía f; (between governments etc.) compromiso; as a pledge of - como garantía de
As I understand it the XXX has right to use the his shares (he is a shareholder of the company)in a way regulated by the mentioned articles. He already ownes them so he can only pledge/use them as collateral (for instance to get a loan)to a third party and not take them as collateral from somebody else!!!!
If I want a loan I PLEDGE/use my property as collateral security to the bank. Than the bank TAKES/accepts it as collateral from me.
I think this rules out the use of "accept" and "take".
Here I paste some evidence:
It is therefore, as yet, relevant to know the law as pertains to PLEDGE of paper-based shares GIVEN AS COLLATERAL SECURITY when taking loans from Banks and other financial institutions.
The convenience of a share certificate is that a member who wants to sell or PLEDGE HIS SHARES can at once produce it as evidence of his title and of the amount paid up. There is no need, as in the case of real property, to go into the history of the shares and consider who were the previous owners. www.globallawreview.com/pledofpapsha.html.
The limitations imposed on the shares issued to Lubs were typed as a legend on the reverse side of the stock certificate issued to him. The company admits that "the restrictions placed on the sale of Class A shares to Lubs were far more onerous than those applicable to the issuance of all other outstanding Class A shares." These restrictions were that Lubs could not give his shares to anyone or PLEDGE THEM AS COLLATERAL. His ownership of the shares is conditioned upon his employment with the company; he is subject to losing his shares if he dies or ceases working with the company. www.wisbar.org/WisCtApp2/1q98/97-2053.htm
Abu Dhabi Commercial Bank ::: On-line
... reflecting details and quantity of shares owned by you. Pledge: An investor can
PLEDGE HIS SECURITIES AS COLLATERAL for availing financial assistance for ... www.adcbindia.com/depositservice.htm