natgillin/translations-raw huggingface dataset:
a Types of insolvency proceedings The only types of insolvency proceedings ( including composition or rehabilitation ) --- which , for the purpose of this Opinion , shall include all proceedings in respect of the Participant 's assets or any branch it may have in [ jurisdiction ] --- to which the Participant may become subject in [ jurisdiction ] , are the following : [ list proceedings in original language and English translation ] ( together collectively referred to as « Insolvency Proceedings ') .
a Types of insolvency proceedings The only types of insolvency proceedings ( including composition or rehabilitation ) --- which , for the purpose of this Opinion , shall include all proceedings in respect of the Participant 's assets or any branch it may have in [ jurisdiction ] --- to which the Participant may become subject in [ jurisdiction ] , are the following : [ list proceedings in original language and English translation ] ( together collectively referred to as « Insolvency Proceedings ') .
In addition to Insolvency Proceedings , the Participant , any of its assets , or any branch it may have in [ jurisdiction ] may become subject in [ jurisdiction ] to [ list any applicable moratorium , receivership , or any other proceedings as a result of which payments to and / or from the Participant may be suspended , or limitations can be imposed in relation to such payments , or similar proceedings in original language and English translation ] ( hereinafter collectively referred to as « Proceedings ') .
In addition to Insolvency Proceedings , the Participant , any of its assets , or any branch it may have in [ jurisdiction ] may become subject in [ jurisdiction ] to [ list any applicable moratorium , receivership , or any other proceedings as a result of which payments to and / or from the Participant may be suspended , or limitations can be imposed in relation to such payments , or similar proceedings in original language and English translation ] ( hereinafter collectively referred to as « Proceedings ') .
b Insolvency treaties [ jurisdiction ] or certain political subdivisions within [ jurisdiction ] , as specified , is / are party to the following insolvency treaties : [ specify , if applicable which have or may have an impact on this Opinion ] .
b Insolvency treaties [ jurisdiction ] or certain political subdivisions within [ jurisdiction ] , as specified , is / are party to the following insolvency treaties : [ specify , if applicable which have or may have an impact on this Opinion ] .
Enforceability of System Documents Subject to the points set out below , all provisions of the System Documents will be binding and enforceable in accordance with their terms under the laws of [ jurisdiction ] , in particular in the event of the opening of any Insolvency Proceedings or Proceedings with respect to the Participant .
Enforceability of System Documents Subject to the points set out below , all provisions of the System Documents will be binding and enforceable in accordance with their terms under the laws of [ jurisdiction ] , in particular in the event of the opening of any Insolvency Proceedings or Proceedings with respect to the Participant .
In particular , we are of the opinion that : 3.3 .
In particular , we are of the opinion that : 3.3 .
a Processing of payment orders The provisions on processing of payment orders [ list of sections ] of the Rules are valid and enforceable .
a Processing of payment orders The provisions on processing of payment orders [ list of sections ] of the Rules are valid and enforceable .
In particular , all payment orders processed pursuant to such sections will be valid , binding and will be enforceable under the laws of [ jurisdiction ] .
In particular , all payment orders processed pursuant to such sections will be valid , binding and will be enforceable under the laws of [ jurisdiction ] .
The provision of the Rules which specifies the precise point in time at which payment orders submitted by the Participant to the System become enforceable and irrevocable ( Article 20 of the Rules ) is valid , binding and enforceable under the laws of [ jurisdiction ] .
The provision of the Rules which specifies the precise point in time at which payment orders submitted by the Participant to the System become enforceable and irrevocable ( Article 20 of the Rules ) is valid , binding and enforceable under the laws of [ jurisdiction ] .
b Authority of the ECB to perform its functions The opening of Insolvency Proceedings or Proceedings in respect of the Participant will not affect the authority and powers of the ECB arising out of the System Documents .
b Authority of the ECB to perform its functions The opening of Insolvency Proceedings or Proceedings in respect of the Participant will not affect the authority and powers of the ECB arising out of the System Documents .
[ Specify [ to the extent applicable ] that : the same opinion is also applicable in respect of any other entity which provides the Participants with services directly and necessarily required for participating in the System ( e.g. network service provider )] .
[ Specify [ to the extent applicable ] that : the same opinion is also applicable in respect of any other entity which provides the Participants with services directly and necessarily required for participating in the System ( e.g. network service provider )] .
c Remedies in the event of default [ Where applicable to the Participant , the provisions contained in Article 30 of the Rules regarding accelerated performance of claims which have not yet matured , the set-off of claims for using the deposits of the Participant , the enforcement of a pledge , suspension and termination of participation , claims for default interest , and termination of agreements and transactions
c Remedies in the event of default [ Where applicable to the Participant , the provisions contained in Article 30 of the Rules regarding accelerated performance of claims which have not yet matured , the set-off of claims for using the deposits of the Participant , the enforcement of a pledge , suspension and termination of participation , claims for
2007D0007 --- CS --- 12.05.2010 --- 003.001 --- 33 ▼B ( Articles 27-31 of the Rules ) are valid and enforceable under the laws of [ jurisdiction ] .
2007D0007 --- EN --- 12.05.2010 --- 003.001 --- 34 ▼B default interest , and termination of agreements and transactions ( Articles 27-31 of the Rules ) are valid and enforceable under the laws of [ jurisdiction ] .
] 3.3 .
] 3.3 .
d Suspension and termination Where applicable to the Participant , the provisions contained in Articles 27 and 28 of the Rules ( in respect of suspension and termination of the Participant 's participation in the System on the opening of Insolvency Proceedings or Proceedings or other events of default , as defined in the System Documents , or if the Participant represents any kind of systemic risk or has serious operational problems ) are valid and enforceable under the laws of [ jurisdiction ] .
d Suspension and termination Where applicable to the Participant , the provisions contained in Articles 27 and 28 of the Rules ( in respect of suspension and termination of the Participant 's participation in the System on the opening of Insolvency Proceedings or Proceedings or other events of default , as defined in the System Documents , or if the Participant represents any kind of systemic risk or has serious operational problems ) are valid and enforceable under the laws of [ jurisdiction ] .
e Assignment of rights and obligations The rights and obligations of the Participant cannot be assigned , altered or otherwise transferred by the Participant to third parties without the prior written consent of the ECB .
e Assignment of rights and obligations The rights and obligations of the Participant cannot be assigned , altered or otherwise transferred by the Participant to third parties without the prior written consent of the ECB .
f Choice of governing law and jurisdiction The provisions contained in Articles 34 and 38 of the Rules , and in particular in respect of the governing law , the resolution of a dispute , competent courts , and service of process are valid and enforceable under the laws of [ jurisdiction ] .
f Choice of governing law and jurisdiction The provisions contained in Articles 34 and 38 of the Rules , and in particular in respect of the governing law , the resolution of a dispute , competent courts , and service of process are valid and enforceable under the laws of [ jurisdiction ] .
Voidable preferences We are of the opinion that no obligation arising out of the System Documents , the performance thereof , or compliance therewith prior to the opening of any Insolvency Proceedings or Proceedings in respect of the Participant may be set aside in any such proceedings as a preference , voidable transaction or otherwise under the laws of [ jurisdiction ] .
Voidable preferences We are of the opinion that no obligation arising out of the System Documents , the performance thereof , or compliance therewith prior to the opening of any Insolvency Proceedings or Proceedings in respect of the Participant may be set aside in any such proceedings as a preference , voidable transaction or otherwise under the laws of [ jurisdiction ] .
In particular , and without limitation to the foregoing , we express this opinion in respect of any payment orders submitted by any participant in the System .
In particular , and without limitation to the foregoing , we express this opinion in respect of any payment orders submitted by any participant in the System .
In particular , we are of the opinion that the provisions of Article 20 of the Rules establishing the enforceability and irrevocability of payment orders will be valid and enforceable and that a payment order submitted by any participant and processed pursuant to Title IV of the Rules may not be set aside in any Insolvency Proceedings or Proceedings as a preference , voidable transaction or otherwise under the laws of [ jurisdiction ] .
In particular , we are of the opinion that the provisions of Article 20 of the Rules establishing the enforceability and irrevocability of payment orders will be valid and enforceable and that a payment order submitted by any participant and processed pursuant to Title IV of the Rules may not be set aside in any Insolvency Proceedings or Proceedings as a preference , voidable transaction or otherwise under the laws of [ jurisdiction ] .
Attachment If a creditor of the Participant seeks an attachment order ( including any freezing order , order for seizure or any other public or private law procedure that is intended to protect the public interest or the rights of the Participant 's creditors ) --- hereinafter referred to as an « Attachment » --- under the laws of [ jurisdiction ] from a court or governmental , judicial or public authority that is competent in [ jurisdiction ] , we are of the opinion that [ insert the analysis and discussion ] .
Attachment If a creditor of the Participant seeks an attachment order ( including any freezing order , order for seizure or any other public or private law procedure that is intended to protect the public interest or the rights of the Participant 's creditors ) --- hereinafter referred to as an « Attachment » --- under the laws of [ jurisdiction ] from a court or governmental , judicial or public authority that is competent in [ jurisdiction ] , we are of the opinion that [ insert the analysis and discussion ] .
Collateral [ if applicable ]
Collateral [ if applicable ]
▼M2 3.6 .
▼M2 3.6 .
Specifically , the creation and enforcement of a pledge or repo under the Rules will be valid and enforceable under the laws of [ jurisdiction ] .
Specifically , the creation and enforcement of a pledge or repo under the Rules will be valid and enforceable under the laws of [ jurisdiction ] .
▼B 3.6 .
▼B 3.6 .
b Priority of assignees » , pledgees » or repo purchasers » interest over that of other claimants In the event of Insolvency Proceedings or Proceedings in respect of the Participant , the rights or assets assigned for collateral purposes , or pledged by the Participant in favour of the ECB or other participants in the System , will rank in priority of payment above the claims of all other creditors of the Participant and will not be subject to priority or preferential creditors .
b Priority of assignees » , pledgees » or repo purchasers » interest over that of other claimants In the event of Insolvency Proceedings or Proceedings in respect of the Participant , the rights or assets assigned for collateral purposes , or pledged by the Participant in favour of the ECB or other participants in the System , will rank in priority of payment above the claims of all other creditors of the Participant and will not be subject to priority or preferential creditors .
2007D0007 --- CS --- 12.05.2010 --- 003.001 --- 34 ▼B 3.6 .
2007D0007 --- EN --- 12.05.2010 --- 003.001 --- 35 ▼B 3.6 .
c Enforcing title to security Even in the event of Insolvency Proceedings or Proceedings in respect of the Participant , other participants in the System and the ECB as pledgees will still be free to enforce and collect the Participant 's rights or assets through the action of the ECB pursuant to the Rules .
c Enforcing title to security Even in the event of Insolvency Proceedings or Proceedings in respect of the Participant , other participants in the System and the ECB as pledgees will still be free to enforce and collect the Participant 's rights or assets through the action of the ECB pursuant to the Rules .
d Form and registration requirements There are no form requirements for the assignment for collateral purposes of , or the creation and enforcement of a pledge or repo over the Participant 's rights or assets and it is not necessary for the assignment for collateral purposes , pledge or repo , as applicable , or any particulars of such assignment , pledge or repo , as applicable , to be registered or filed with any court or governmental , judicial or public authority that is competent in [ jurisdiction ] .
d Form and registration requirements There are no form requirements for the assignment for collateral purposes of , or the creation and enforcement of a pledge or repo over the Participant 's rights or assets and it is not necessary for the assignment for collateral purposes , pledge or repo , as applicable , or any particulars of such assignment , pledge or repo , as applicable , to be registered or filed with any court or governmental , judicial or public authority that is competent in [ jurisdiction ] .
Branches [ to the extent applicable ] 3.7 .
Branches [ to the extent applicable ] 3.7 .
a Opinion applies to action through branches Each of the statements and opinions presented above with regard to the Participant applies with equal accuracy and validity under the laws of [ jurisdiction ] in situations where the Participant acts through its one or more of its branches established outside [ jurisdiction ] .
a Opinion applies to action through branches Each of the statements and opinions presented above with regard to the Participant applies with equal accuracy and validity under the laws of [ jurisdiction ] in situations where the Participant acts through its one or more of its branches established outside [ jurisdiction ] .
b Conformity with law Neither the execution and performance of the rights and obligations under the System Documents nor the submission , transmission or receipt of payment orders by a branch of the Participant will in any respect breach the laws of [ jurisdiction ] .
b Conformity with law Neither the execution and performance of the rights and obligations under the System Documents nor the submission , transmission or receipt of payment orders by a branch of the Participant will in any respect breach the laws of [ jurisdiction ] .
c Required authorisations Neither the execution and performance of the rights and obligations under the System Documents nor the submission , transmission or receipt of payment orders by a branch of a Participant will require any additional authorisations , approvals , consents , filings , registrations , notarisations or other certifications of or with any court or governmental , judicial or public authority that is competent in [ jurisdiction ] .
c Required authorisations Neither the execution and performance of the rights and obligations under the System Documents nor the submission , transmission or receipt of payment orders by a branch of a Participant will require any additional authorisations , approvals , consents , filings , registrations , notarisations or other certifications of or with any court or governmental , judicial or public authority that is competent in [ jurisdiction ] .
This Opinion is stated as of its date and is addressed solely to the ECB and the [ Participant ] .
This Opinion is stated as of its date and is addressed solely to the ECB and the [ Participant ] .
2007D0007 --- CS --- 12.05.2010 --- 003.001 --- 35 ▼B Appendix IV BUSINESS CONTINUITY AND CONTINGENCY PROCEDURE 1 .
2007D0007 --- EN --- 12.05.2010 --- 003.001 --- 36 ▼B Appendix IV BUSINESS CONTINUITY AND CONTINGENCY PROCEDURE 1 .
General provisions ( a ) This Appendix sets out the arrangements between the ECB and participants , or ancillary systems , if one or more components of the SSP or the telecommunications network fail or are affected by an abnormal external event , or if the failure affects any participant or ancillary system .
General provisions ( a ) This Appendix sets out the arrangements between the ECB and participants , or ancillary systems , if one or more components of the SSP or the telecommunications network fail or are affected by an abnormal external event , or if the failure affects any participant or ancillary system .
▼M2 ( b ) All references to specific times in this Appendix are to the local time at the seat of the ECB , i.e. Central European Time ( CET ) ( 1 ) .
▼M2 ( b ) All references to specific times in this Appendix are to the local time at the seat of the ECB , i.e. Central European Time ( CET ) ( 1 ) .
Measures of business continuity and contingency processing ( a ) In the event that an abnormal external event occurs and / or there is a failure of the SSP or the telecommunications network which affects the normal operation of TARGET2 , the ECB shall be entitled to adopt business continuity and contingency processing measures .
Measures of business continuity and contingency processing ( a ) In the event that an abnormal external event occurs and / or there is a failure of the SSP or the telecommunications network which affects the normal operation of TARGET2 , the ECB shall be entitled to adopt business continuity and contingency processing measures .
( b ) The following main business continuity and contingency processing measures shall be available in TARGET2 : ( i ) relocating the operation of the SSP to an alternative site ;
( b ) The following main business continuity and contingency processing measures shall be available in TARGET2 : ( i ) relocating the operation of the SSP to an alternative site ;
( ii ) changing the SSP 's operating hours ;
( ii ) changing the SSP 's operating hours ;
and ( iii ) initiating contingency processing of very critical and critical payments , as defined in paragraph 6 ( c ) and ( d ) respectively .
and ( iii ) initiating contingency processing of very critical and critical payments , as defined in paragraph 6 ( c ) and ( d ) respectively .
( c ) In relation to business continuity and contingency processing measures , the ECB shall have full discretion regarding whether and which measures are adopted to settle payment orders .
( c ) In relation to business continuity and contingency processing measures , the ECB shall have full discretion regarding whether and which measures are adopted to settle payment orders .
Incident communication ( a ) Information about the failure of the SSP and / or an abnormal external event shall be communicated to participants through the domestic communication channels , the ICM and T2IS .
Incident communication ( a ) Information about the failure of the SSP and / or an abnormal external event shall be communicated to participants through the domestic communication channels , the ICM and T2IS .
In particular , communications to participants shall include the following information : ( i ) a description of the event ;
In particular , communications to participants shall include the following information : ( i ) a description of the event ;
( ii ) the anticipated delay in processing ( if known ) ;
( ii ) the anticipated delay in processing ( if known ) ;
( iii ) information on the measures already taken ;
( iii ) information on the measures already taken ;
and ( iv ) the advice to participants .
and ( iv ) the advice to participants .
( b ) In addition , the ECB may notify participants of any other existing or anticipated event which has the potential to affect the normal operation of TARGET2 .
( b ) In addition , the ECB may notify participants of any other existing or anticipated event which has the potential to affect the normal operation of TARGET2 .
Relocation the operation of the SSP to an alternative site ( a ) In the event that any of the events referred to in paragraph 2 ( a ) occurs , the operation of the SSP may be relocated to an alternative site , either within the same region or in another region .
Relocation the operation of the SSP to an alternative site ( a ) In the event that any of the events referred to in paragraph 2 ( a ) occurs , the operation of the SSP may be relocated to an alternative site , either within the same region or in another region .
( b ) In the event that the operation of the SSP is relocated to another region , the participants shall use best efforts to reconcile their positions up to the point of the failure or the occurrence of the abnormal external event and provide to the ECB all relevant information in this respect .
( b ) In the event that the operation of the SSP is relocated to another region , the participants shall use best efforts to reconcile their positions up to the point of the failure or the occurrence of the abnormal external event and provide to the ECB all relevant information in this respect .
Change of operating hours ( a ) The daytime processing of TARGET2 may be extended or the opening time of a new business day may be delayed .
Change of operating hours ( a ) The daytime processing of TARGET2 may be extended or the opening time of a new business day may be delayed .
During any extended operating time of TARGET2 , payment orders shall be processed in accordance with the terms and conditions of TARGET2-ECB , subject to the modifications contained in this Appendix .
During any extended operating time of TARGET2 , payment orders shall be processed in accordance with the terms and conditions of TARGET2-ECB , subject to the modifications contained in this Appendix .
( b ) Daytime processing may be extended and the closing time thereby delayed if an SSP failure has occurred during the day but has been ( 1 ) CET takes into account the change to Central European Summer Time .
( b ) Daytime processing may be extended and the closing time thereby delayed if an SSP failure has occurred during the day but has been ( 1 ) CET takes into account the change to Central European Summer Time .
2007D0007 --- CS --- 12.05.2010 --- 003.001 --- 36 ▼B resolved before 18.00 .
2007D0007 --- EN --- 12.05.2010 --- 003.001 --- 37 ▼B resolved before 18.00 .
Such a closing time delay shall in normal circumstances not exceed two hours and shall be announced as early as possible to participants .
Such a closing time delay shall in normal circumstances not exceed two hours and shall be announced as early as possible to participants .
If such a delay is announced before 16.50 , the minimum period of one hour between the cut-off time for customer and interbank payment orders shall remain in place .
If such a delay is announced before 16.50 , the minimum period of one hour between the cut-off time for customer and interbank payment orders shall remain in place .
Once such a delay is announced it may not be withdrawn .
Once such a delay is announced it may not be withdrawn .