obligation garantie

19:53 Dec 12, 2019
This question was closed without grading. Reason: No acceptable answer

French to English translations [PRO]
Law/Patents - Law: Contract(s)
French term or phrase: obligation garantie
Amending legal instrument to do with backers of a loan (XXX is the name of the group):

"Par l’effet (i) de la promesse d’emploi figurant à l’article 4 (Promesse d’emploi – PROMISE TO USE THE INTRA-GROUP LOAN FACILITY), du Nouveau Prêt Intragroupe XXX (ii) de la quittance ci-dessus et (iii) de la déclaration d’origine des deniers, et conformément aux dispositions de l’article 1346-2 du Code civil, l’Emprunteur subrogeant, à la sûreté et garantie du paiement et du remboursement des Obligations Garanties à l’égard du Nouveau Prêteur Intragroupe, subroge expressément le Nouveau Prêteur Intragroupe (tant pour son compte qu’au nom pour le compte tout ayant cause, ayant droit ou successeur, qui viendrait à prendre la qualité de prêteur aux termes du Nouveau Prêt Intragroupe XXX), qui l’accepte, et ce, à due concurrence de la fraction de l’encours du Prêt Intragroupe Préexistant remboursée par lui, dans la créance et les accessoires (incluant les droits, actions, privilèges et sûretés bénéficiant au Prêteur Intragroupe Préexistant et notamment dans le bénéfice du Privilège de Prêteur de Deniers Préexistant inscrit à son profit."

Again, this expression has come up before: https://www.proz.com/kudoz/french-to-english/finance-general...

There, the learned rkillings correctly identifies these as "obligations" rather than "bonds".
But here it is more tricky: can you "pay and reimburse/repay" an obligation? On the other hand, the likelihood that these are "bonds" seems to me to be virtually nil, as they are said to be secured "à l'égard de" the new lender.

My suspicion is that this might be a particular type of obligation in law, the details of which are not given explicitly in this document, which can indeed be "paid".

Anyone got a hunch?
Mpoma
United Kingdom
Local time: 08:54


Summary of answers provided
4secured bonds/secured obligations
Timothy Rake


Discussion entries: 6





  

Answers


36 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
secured bonds/secured obligations


Explanation:
just as proposed in the kudoz terms previously

Timothy Rake
United States
Local time: 00:54
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 43
Notes to answerer
Asker: Er... the point is that it can't be both.

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