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surrogater for pantet

English translation: substitute/s for the collateral

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Danish term or phrase:surrogater for pantet
English translation:substitute/s for the collateral
Entered by: dmesnier

21:05 Dec 10, 2023
Danish to English translations [PRO]
Law/Patents - Real Estate / Security Pledge Statement
Danish term or phrase: surrogater for pantet
Hi, I was wondering if there's a more precise term than "surrogates" in English in the following. Does this mean the lien attaches to these other interests in the pledged property (in the first sentence)? Thanks for any input!



Under pantsætningen er indbefattet rente og udbytte af enhver art af det pantsatte, herunder bonus på livsforsikringspolicer, ved aktier, eventuelle friaktier og tegningsrettigheder, lejeindtægter og lignende. Panteretten omfatter surrogater for pantet
dmesnier
United States
Local time: 22:04
substitute/s for the collateral
Explanation:
surrogat : substitute / panteretten : mortgage, lien or security on (alt. over); both Bailey.

Panteretten omfatter surrogater for pantet : the security interest 'catches' substitutes for the original collateral -> the lien encompasses / extends to such collateral securities ... as come to be substituted for ... / come to supersede ....

Otherwise:

Under pantsætningen er indbefattet rente og udbytte af enhver art af det pantsatte, herunder bonus på livsforsikringspolicer, ved aktier, eventuelle friaktier og tegningsrettigheder, lejeindtægter og lignende.

- under the collateraliz/sation are subsumed -> included interest and yield of any nature / description from the property collateraliz/sed, including any bonus from life (assurance) policies, on stocks and shares, any bonus shares (UK: scrip* issues) and subscription rights, letting / rental income and such like.

Note the AmE meaning of scrip (not script): '... a substitute or alternative to legal tender. Holding a scrip entitles the bearer to receive something in return.'

PS I think or guess in American that this is an 'all monies (charge or debenture)' - or, rather, 'any security' scenario, but can't quite nail the scheme.

Selected response from:

Adrian MM.
Austria
Grading comment
Thanks for your help!
4 KudoZ points were awarded for this answer



Summary of answers provided
3substitute/s for the collateral
Adrian MM.


  

Answers


2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
surrogat/er for pantet
substitute/s for the collateral


Explanation:
surrogat : substitute / panteretten : mortgage, lien or security on (alt. over); both Bailey.

Panteretten omfatter surrogater for pantet : the security interest 'catches' substitutes for the original collateral -> the lien encompasses / extends to such collateral securities ... as come to be substituted for ... / come to supersede ....

Otherwise:

Under pantsætningen er indbefattet rente og udbytte af enhver art af det pantsatte, herunder bonus på livsforsikringspolicer, ved aktier, eventuelle friaktier og tegningsrettigheder, lejeindtægter og lignende.

- under the collateraliz/sation are subsumed -> included interest and yield of any nature / description from the property collateraliz/sed, including any bonus from life (assurance) policies, on stocks and shares, any bonus shares (UK: scrip* issues) and subscription rights, letting / rental income and such like.

Note the AmE meaning of scrip (not script): '... a substitute or alternative to legal tender. Holding a scrip entitles the bearer to receive something in return.'

PS I think or guess in American that this is an 'all monies (charge or debenture)' - or, rather, 'any security' scenario, but can't quite nail the scheme.



Example sentence(s):
  • "all monies clause" or "all monies security" (charge) usually mean that any security interest or guarantee will cover all amounts that the debtor owes to the creditor under any arrangements (including future arrangements) regardless of how they arise.
  • USA: Cornell Uni. : A security interest arises when, in exchange for a loan, a borrower agrees in a security agreement that the lender (the secured party) may take specified collateral owned by the borrower if he or she should default on the loan.

    Reference: http://www.law.cornell.edu/wex/secured_transactions
    Reference: http://www.investopedia.com/terms/s/scrip.asp
Adrian MM.
Austria
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 36
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