Glossary entry (derived from question below)
Spanish term or phrase:
Primer Rango
English translation:
first ranking
Added to glossary by
Charles Davis
Nov 9, 2013 22:29
10 yrs ago
15 viewers *
Spanish term
Primer Rango
Spanish to English
Bus/Financial
Law: Contract(s)
Contrato de Garantía Mobiliaria sobre Acciones
Realizar cualesquiera actos que resulten necesarios o razonablemente convenientes para formalizar en los registros públicos la extinción de la Garantía Mobiliaria de *Primer Rango* y la consiguiente, adquisición de primer y preferente rango de la Garantía Mobiliaria tan pronto ocurra el levantamiento de la Garantía Mobiliaria de Primer Rango. La inscripción registral del levantamiento y cancelación de la Garantía Mobiliaria de Primer Rango deberá obtenerse dentro de los cuarenta y cinco (45) días calendario siguientes a la fecha en que se cancelen íntegramente las Obligaciones de XXX, bajo apercibimiento de que a falta de inscripción dentro del plazo señalado YYY pueda proceder a la ejecución de la Garantía Mobiliaria, de acuerdo con lo previsto en la Cláusula de este Contrato.
Realizar cualesquiera actos que resulten necesarios o razonablemente convenientes para formalizar en los registros públicos la extinción de la Garantía Mobiliaria de *Primer Rango* y la consiguiente, adquisición de primer y preferente rango de la Garantía Mobiliaria tan pronto ocurra el levantamiento de la Garantía Mobiliaria de Primer Rango. La inscripción registral del levantamiento y cancelación de la Garantía Mobiliaria de Primer Rango deberá obtenerse dentro de los cuarenta y cinco (45) días calendario siguientes a la fecha en que se cancelen íntegramente las Obligaciones de XXX, bajo apercibimiento de que a falta de inscripción dentro del plazo señalado YYY pueda proceder a la ejecución de la Garantía Mobiliaria, de acuerdo con lo previsto en la Cláusula de este Contrato.
Proposed translations
(English)
| 4 +4 | first ranking |
Charles Davis
|
| 4 +2 | First Tier |
claudia bagnardi
|
| 3 | (BrE) First {Priority} Charge over Company Shares |
Adrian MM. (X)
|
Change log
Nov 21, 2013 16:27: Charles Davis Created KOG entry
Proposed translations
+4
3 hrs
Selected
first ranking
This is a stock pledge agreement.
I don't say "first tier" is necessarily wrong, but "first-tier pledge" is rare:
https://www.google.es/search?q="first tier pledge"&oq="first...
And there are no results at all for "tier stock pledge", whether first, top, second, or whatever.
Much more usual is "first ranking". "Ranking stock pledge" is certainly found:
https://www.google.es/search?num=100&espv=210&es_sm=93&q="ra...
and "ranking pledge" is pretty common:
https://www.google.es/search?num=100&espv=210&es_sm=93&q="ra...
First, the meaning of "primer rango":
"VENTA EN EL CASO DE GARANTÍAS MOBILIARIAS SUCESIVAS: Cuando hubiere garantías mobiliarias sucesivas sobre el mismo bien mueble, la venta a instancias del segundo o ulteriores acreedores deberá ser efectuada por el representante correspondiente a la garantía mobiliaria que ocupe el primer rango, en la forma y en el valor previstos en el acto constitutivo de la referida garantía mobiliaria de primer rango. El plazo para la venta será de 90 días, si no se realiza pasará sucesivamente y por el mismo plazo a instancias del segundo o ulteriores acreedores."
http://www.monografias.com/trabajos80/prenda/prenda2.shtml#i...
"Según el documento de garantía del acuerdo de préstamo, se registró una garantía de primer rango en terrenos y activos por un importe de 34,5 millones EUR."
http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2...
"According to the Security Document of the loan agreement a first ranking security into land and assets is registered for the amount of EUR 34,5 million."
http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2...
"First priority stock pledge" can be said:
"each of the Pledgors, pursuant to Section 5.1.8 (b) and other applicable provisions of the Credit Agreement, has agreed to enter into this Agreement in order to create a first priority stock pledge"
http://www.sec.gov/Archives/edgar/data/54480/000119312510204...
However, the tendency is to apply "priority" to the lender or security agent and "ranking" to the pledge itself:
"Generally Luxembourg banks provide for a first ranking pledge over the account in their favour in the general terms and conditions. If a pledge is granted to a third party, the bank has to waive the first ranking pledge."
http://www.lexmundi.com/images/lexmundi/PracticeGroups/BankF...
The distinction is consistently maintained in this document:
"REYNOLDS GROUP HOLDINGS LIMITED (FORMERLY KNOWN AS RANK GROUP HOLDINGS LIMITED)
AS PLEDGOR
AND
CREDIT SUISSE
AS SECOND PRIORITY SECURITY AGENT
SECOND-RANKING PLEDGE OVER SHARES AGREEMENT
(BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) I S.A.)"
http://www.sec.gov/Archives/edgar/data/813134/00009501231200...
--------------------------------------------------
Note added at 3 hrs (2013-11-10 02:01:11 GMT)
--------------------------------------------------
There really are virtually no convincing examples of "tier" in English referring to "rango" in this sense.
--------------------------------------------------
Note added at 3 hrs (2013-11-10 02:20:41 GMT)
--------------------------------------------------
In the previous question, there are two references for "first-tier". The first, for which the link no longer works, refer to "first-tier recipients" of US Aid, as opposed to subrecipients. This refers to a quite different phenomenon. It can be seen here (p. 8):
http://www.docstoc.com/docs/130058375/206
The second (whose link is also out of date), refers to this document, and although the meaning of "tier" is not entirely clear, it does not seem to appear to refer to "rango" in relation to "garantías":
http://www.ilo.org/wcmsp5/groups/public/---ed_emp/documents/...
So I don't think "tier" has any support here.
I don't say "first tier" is necessarily wrong, but "first-tier pledge" is rare:
https://www.google.es/search?q="first tier pledge"&oq="first...
And there are no results at all for "tier stock pledge", whether first, top, second, or whatever.
Much more usual is "first ranking". "Ranking stock pledge" is certainly found:
https://www.google.es/search?num=100&espv=210&es_sm=93&q="ra...
and "ranking pledge" is pretty common:
https://www.google.es/search?num=100&espv=210&es_sm=93&q="ra...
First, the meaning of "primer rango":
"VENTA EN EL CASO DE GARANTÍAS MOBILIARIAS SUCESIVAS: Cuando hubiere garantías mobiliarias sucesivas sobre el mismo bien mueble, la venta a instancias del segundo o ulteriores acreedores deberá ser efectuada por el representante correspondiente a la garantía mobiliaria que ocupe el primer rango, en la forma y en el valor previstos en el acto constitutivo de la referida garantía mobiliaria de primer rango. El plazo para la venta será de 90 días, si no se realiza pasará sucesivamente y por el mismo plazo a instancias del segundo o ulteriores acreedores."
http://www.monografias.com/trabajos80/prenda/prenda2.shtml#i...
"Según el documento de garantía del acuerdo de préstamo, se registró una garantía de primer rango en terrenos y activos por un importe de 34,5 millones EUR."
http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2...
"According to the Security Document of the loan agreement a first ranking security into land and assets is registered for the amount of EUR 34,5 million."
http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2...
"First priority stock pledge" can be said:
"each of the Pledgors, pursuant to Section 5.1.8 (b) and other applicable provisions of the Credit Agreement, has agreed to enter into this Agreement in order to create a first priority stock pledge"
http://www.sec.gov/Archives/edgar/data/54480/000119312510204...
However, the tendency is to apply "priority" to the lender or security agent and "ranking" to the pledge itself:
"Generally Luxembourg banks provide for a first ranking pledge over the account in their favour in the general terms and conditions. If a pledge is granted to a third party, the bank has to waive the first ranking pledge."
http://www.lexmundi.com/images/lexmundi/PracticeGroups/BankF...
The distinction is consistently maintained in this document:
"REYNOLDS GROUP HOLDINGS LIMITED (FORMERLY KNOWN AS RANK GROUP HOLDINGS LIMITED)
AS PLEDGOR
AND
CREDIT SUISSE
AS SECOND PRIORITY SECURITY AGENT
SECOND-RANKING PLEDGE OVER SHARES AGREEMENT
(BEVERAGE PACKAGING HOLDINGS (LUXEMBOURG) I S.A.)"
http://www.sec.gov/Archives/edgar/data/813134/00009501231200...
--------------------------------------------------
Note added at 3 hrs (2013-11-10 02:01:11 GMT)
--------------------------------------------------
There really are virtually no convincing examples of "tier" in English referring to "rango" in this sense.
--------------------------------------------------
Note added at 3 hrs (2013-11-10 02:20:41 GMT)
--------------------------------------------------
In the previous question, there are two references for "first-tier". The first, for which the link no longer works, refer to "first-tier recipients" of US Aid, as opposed to subrecipients. This refers to a quite different phenomenon. It can be seen here (p. 8):
http://www.docstoc.com/docs/130058375/206
The second (whose link is also out of date), refers to this document, and although the meaning of "tier" is not entirely clear, it does not seem to appear to refer to "rango" in relation to "garantías":
http://www.ilo.org/wcmsp5/groups/public/---ed_emp/documents/...
So I don't think "tier" has any support here.
4 KudoZ points awarded for this answer.
Comment: "Thanks1"
+2
2 hrs
claudia bagnardi
Native in Spanish
Specializes in field
30 years translating law and finance
Native in: Spanish 
Works in: English to Spanish, Spanish, Spanish to English, and 1 more.
Related KudoZ points
:
107
First Tier
Peer comment(s):
| agree |
Pablo Julián Davis
: Me gusta. Tal vez podría ser 'top tier' también.
11 mins
|
|
De acuerdo, Pablo, también encontré "Top Tier". Gracias!
|
|
| agree |
Triston Goodwin
: Top tier me suena un poco mas, pero ambos me gustan.
19 mins
|
|
Idem. Gracias!
|
1 day 27 mins
Spanish term (edited):
Garantía Mobiliaria de Primer Rango sobre Acciones
(BrE) First {Priority} Charge over Company Shares
First, we need to ask if the 'stateless' asker is after an AmE/Can or BrE/OzE equiv.
2nd is the Garantía Mobiliaria sobre Acciones
1. a conditional Bill of Sale > mortage of chattels
2. a mortgage of shares > the British company & commercial law textbook term in fact and that contributors must have come across if they had done their set reading.
3. security interest in shares
4. a stock vs. share pledge (AmE) http://contracts.onecle.com/alibris/nason.pledge.2002.03.11....
5. a lien
6. a charge over shares
7. collateris/zation of shares
Third, if a lien, charge or mortage whether the Rango needs to included, namely a fiorst lien, charge or mortgage.
2nd is the Garantía Mobiliaria sobre Acciones
1. a conditional Bill of Sale > mortage of chattels
2. a mortgage of shares > the British company & commercial law textbook term in fact and that contributors must have come across if they had done their set reading.
3. security interest in shares
4. a stock vs. share pledge (AmE) http://contracts.onecle.com/alibris/nason.pledge.2002.03.11....
5. a lien
6. a charge over shares
7. collateris/zation of shares
Third, if a lien, charge or mortage whether the Rango needs to included, namely a fiorst lien, charge or mortgage.
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