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Source text - Romanian CONDITII SUSPENSIVE
Vanzarea si cumpararea Actiunilor de Vanzare si emiterea, subscrierea si achizitionarea Actiunilor Noi sunt conditionate de indeplinirea urmatoarelor Conditii Suspensive sau renuntarea la acestea (in masura in care nu sunt indeplinite) in conformitate cu prezentul Contract la sau inainte de incetarea prezentului Contract in conformitate cu Sub-clauza 26.1.4 :
obtinerea de catre Cumparator a Aprobarilor Consiliului Concurentei;
incheierea de catre Vanzator, Cumparator, Societate, Consultant si Agentul Escrow a Contractului de Escrow la Semnare;
efectuarea de catre Cumparator a depunerii in conformitate cu prevederile Sub-clauzei 2.4 in Contul Escrow pentru Pretul de Achizitie;
adoptarea si intrarea in vigoare a cadrului legislativ care sa stipuleze prevederile legale necesare pentu finalizarea tranzactiilor prevazute in prezentul Contract si pentru autorizarea Vanzatorului de a-si indeplini obligatiile in baza prezentului Contract;
amendarea Hotararii Guvernului nr. 1342/2001 privind reorganizarea Societatii de Distributie si Furnizare a Energiei Electrice „Electrica SA”, astfel incat aceasta sa nu mai fie aplicabila Societatii dupa Finalizare ;
inexistenta vreunor proceduri judiciare sau investigatii sau a vreunei hotarari anterioare (dar inca executorii) ale unei instante sau ale altei autoritati publice avand capacitatea de a obliga prin deciziile sale oricare dintre Parti, care sa interzica in mod direct sau indirect Finalizarea;
Garantiile Vanzatorului repetate in conformitate cu Clauza 10.2 (Garantiile Vanzatorului la Finalizare) sa fie adevarate si corecte in toate aspectele esentiale si Vanzatorul sa nu fi savarsit vreo incalcare esentiala a obligatiilor asumate confom Clauzei 5 din Contract;
Garantiile Cumparatorului repetate in baza Sub-clauzei 11.3 (Garantiile Cumparatorului la Finalizare) sa fie adevarate si corecte in toate aspectele esentiale;
Conventia incheiata de catre Societate si Vanzator in data de 15 noiembrie 2004 sa fie modificata in sensul inlaturarii cerintei potrivit careia EnBW, in calitatea sa de Cumparator ar trebui sa raspunda personal pentru indeplinirea obligatiilor asumate de catre Societate in baza acestei Conventii
Societatea a obtinut si Vanzatorul a furnizat Cumparatorului Cetificatele Fiscale relevante;
S-a emis decizia Consiliului Concurentei din Romania de autorizare neconditionata a masurilor ce ar putea constitui ajutoare de stat de care a beneficiat Societatea;
S-a emis autorizatia neconditionata a ANRE referitoare la schimbarea Controlului in Societate in conformitate cu conditia 37 din Licenta de Distributie si conditia 32 din Licenta de Furnizare;
Vanzatorul, Societatea si imprumutatorii relevanti, parti in contractele de imprumut si/sau alte facilitati de credit , au incheiat contracte in scopul de a: (i) identifica si confirma in fiecare caz procentul din aceste imprumuturi si/sau facilitati de credit de care a beneficiat Societatea si care prevad dreptul Societatii de a rambursa direct aceste sume catre imprumutatorii relevanti; (ii) de a reduce suma garantata real sau personal care reprezinta obligatiile Vanzatorului garantat de catre Societate conform contractelor de garantie si fidejusiune incheiate in legatura cu imprumuturile si/sau facilitatile de credit la valoarea identificata si confirmata potrivit paragrafului (iii) de a se renunta la posibilitatea respectivilor imprumutatori (a) de a pretinde raspunderea solidara a Societatii impreuna cu Vanzatorul si/ sau cu ceilalti fidejusori in baza imprumutului si /sau facilitatilor de credit si a contractelor de garantie reala sau personala aferente and (b) de a determina intrarea in vigoare a unei prevederi privind schimbarea controlului ;
Confirmarea scrisa din partea Vanzatorului asupra faptului ca intre Semnare si Finalizare nu au fost emise sau nu s-a hotarat de catre Societate sa se emita Actiuni in legatura cu terenurile.
Vanzatorul si Societatea au incheiat (i) un act aditional de rectificare a art.7 din Protocol in vederea confirmarii faptului ca Societatea nu si-a asumat toate obligatiile Vanzatorului ci doar acele obligatii ale Vanzatorului care au fost asumate in beneficiul Societatii, (ii) un act aditional la Protocol prin care dispozitiile art.8 sa-si inceteze aplicabilitatea (iii) o lista a activelor fixe si a pasivelor care sa fie anexata la Protocol; (iv) Societatea si SISE au incheiat un act aditional la Protocolul SISE continand lista completa a activelor si pasivelor transferate
Nu a intervenit nici un Efect Negativ Substantial si acest lucru este confirmat in scris de catre Vanzator cu conditia ca aceasta confirmare sa nu fie considerata o dovada impotriva careia nu se admite proba contrara;
Furnizarea de catre Cumparator Vanzatorului a unei opinii legale in forma anexata ca si Anexa [●] care sa confirme ca Garantiile Cumparatorului prevazute la clauzele 11.1.1, 11.1.2 si 11.1.3 din prezentul Contract sunt adevarate si corecte la Data Semnarii si la Data Finalizarii (dupa caz).
Translation - English CONDITIONS PRECEDENT
Selling and buying Subscription Shares and issuing, subscribing to and buying New Shares are all conditioned on meeting a number of Conditions Precedent or on waiving them (insofar as there is no compliance with these conditions precedent), in accordance with the provisions of this Contract, before or on the date when this Contract is terminated as per Sub-clause 26.1.4, as following :
The Buyer must obtain clearance from the Competition Council;
The Seller, the Buyer, the Company, the Consultant and the Escrow Agent must enter into an Escrow Agreement when they sign the Purchase Contract;
The Buyer must deposit a certain amount of money in the Escrow Account, as per Sub-clause 2.4, to cover the Purchase Price;
The legal basis that governs the transactions hereunder and the authorization of the Seller to perform its obligations as per this Contract must be enacted and take effect duly;
Government Decision No. 1342/2001 that regulates the reorganization of power distributor and supplier „Electrica SA” must be amended so that it would no longer be applicable to the Company after the Closing Date ;
There should be no court proceedings or investigations or (previous, yet binding) judgment of a court of law or public authority that is mandated to engage – by means of decisions – the responsibility of any of the Parties and that may thereby forbid the Closing directly or indirectly;
The Representations and Warranties of the Seller, that are restated as per Clause 10.2 (Representations and Warranties of the Seller upon the Closing) should be substantially true and fair and the Seller must not have violated substantially any of the obligations that the Seller is committed to as per Clause 5 of the Contract;
The Representations and Warranties that are restated as per Sub-clause 11.3 (Representations and Warranties of the Seller upon the Closing) should be substantially true and fair;
The Agreement that the Company and the Seller entered into on November 15th, 2004 should be amended, more specifically the requirement that EnBW, as a Buyer, is supposed to be personally accountable for how the Company performs its obligations under the said Agreement, should be removed.
The Company has obtained, and the Seller has provided the Buyer with, the relevant Tax Certificates;
The Romanian Competition Council has issued a decision to authorize unconditionally the measures that could be accounted for as state aid which the Company may have obtained;
The National Energy Regulating Authority has authorized the substitution of the Control in the Company as per Condition No. 37 of the Distribution Licence and Condition No. 32 of the Supply Licence;
The Seller, the Company and the relevant lenders, that are parties in the loan agreements and/or other facilities , must have entered into contracts in order to: (i) identify in percentages and confirm on a case-by-case basis how much the Company used of each loan and/or facility that stipulates that the Company has the right to reimburse these amounts directly to the relevant lenders; (ii) reduce the guaranteed or secured amount that is accounted for as obligation of the Seller for whom the Company stands as a guarantor under the guarantee and surety agreements that govern the value of loans and/or facilities, [value] that is specified and confirmed as per par. ???; (iii) waive the option that lenders have to (a) request that the Company, the Seller and/or the other surety agents should be held accountable jointly under the loan and/or facility agreements and the related guarantee/security contracts and (b) to decide to effect the substitution of control ;
Also, the Seller must confirm in writing that – between the time when the contract was signed and the Closing Date – no stock was floated and also the Company made no decision to float any stock in connection to the land.
The Seller and the Company must enter into (i) an addendum to correct Article 7 of the Memorandum so as to confirm that the Company had not undertaken all of the obligations that the Seller had, but just those obligations that specifically served the best interest of the Company, (ii) an addendum to the Memorandum whereby Article 8 ceased to be enforceable, (iii) a list of the fixed assets and liabilities that should be appended to the Protocol; (iv) the Company and SISE signed an addendum to the SISE Memorandum to formalize the complete list of the fixed assets and liabilities that had been transferred.
There has been no Substantial Negative Consequence and the Seller has confirmed it in writing, provided that such confirmation would not be considered as evidence against which no rebutting evidence was accepted;
The Buyer must provide the Seller with a legal opinion that should follow the patter of the one which is appended in Annex [●] that should confirm that the Buyer’s Warranties and Representations that are described under Clauses 11.1.1, 11.1.2 si 11.1.3 hereunder are true and fair on the date of the Signature Date and the Closing Date (as applicable).
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