7.5 Do restrictions apply to foreign lenders in the case (a) of legal action against a company in your jurisdiction or (b) of enforced execution in the event of a guarantee? 3.10 Do security reporting, notification or registration requirements on different types of assets involve a considerable delay or cost? Spanish law does not provide for “universal security” on the world debtor`s wealth. Therefore, it is generally necessary to enter into a security agreement for any type of asset. Nor does it generally authorize the creation of a “floating” pledge or charge (i.e. a variable guarantee on assets), with the exception of certain mortgages on real estate (floating hipoteca) and a few similar figures that allow the creation of guarantees for several assets, such as collateral through inventory or the sale of furniture, devices and equipment (FF-E), usually used in real estate transactions. As a fundamental principle, it is of the utmost importance to indicate that only financial firms (not investment funds) can be beneficiaries of the “floating” (hipoteca flotating) mortgage, which allows security through various obligations under a single agreement. 3.3 Is it possible to obtain guarantees on real estate, equipment, machinery and equipment? In short, how`s it going? Finally, and with regard to the real estate market, a recently adopted law (Law 5/2019, regular real estate credit contracts) can have an impact on household financing. The purpose of the Act is to establish mandatory rules for the protection of individuals, whether or not they are consumers, occupying the position of borrowers, guarantors or holders of collateral in loans or loans granted by a mortgage or other securities interest in residential real estate. 4.1 Are there prohibitions or restrictions on a company`s ability to guarantee and/or grant guarantees to finance or refinance the direct or indirect acquisition of: (a) shares of the company; (b) shares in a company that directly or indirectly owns shares in the company; or (c) have a stake in a sister daughter? Yes, in Spain, agreements must be carried out by duly authorized representatives of the company with sufficient corporate power to act on their behalf. The Spanish courts will not re-examine the merits of the case. However, an arbitral award cannot be recognized if certain conditions are not met (for example.
B, the arbitration agreement is not valid, the irregularity in the composition of the arbitration proceeding or arbitration, etc.). Moreover, an arbitral award is not recognized if, in Spain, the object cannot be settled by arbitration or if the recognition of Spain`s public order is contrary. 5.1 Will your jurisdiction recognize the role of agent or agent and allow the agent or agent (not any lender acting separately) to apply the credit documents and guarantees and apply the proceeds of the guarantee to the claims of all lenders? 3.4 Is it possible to take guarantees on receivables? In short, how`s it going? Should debtors be informed of security? 7.6 Does bankruptcy, reorganization or similar laws in your jurisdiction offer some kind of moratorium on the application of lenders` rights? If so, does the moratorium on the application of safeguards apply? 5.2 If an agent or agent is not recognized in your jurisdiction, does it have an alternative mechanism to achieve the above effect that would allow a party to impose claims on behalf of all lenders, so that lenders are not required to impose their collateral separately? The current form requirements are identical to those of any other property deposit on the receivables.