Examples of using Grantor in English and their translations into Chinese
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Political
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Ecclesiastic
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Programming
The representative of France had made the point that a debtor or grantor might seek to render a registration ineffective.
Where an encumbered asset existed at the time of a change in the grantor' s identifier, the effect was the same as if the grantor had transferred the asset.
The same rule might apply where the grantor has multiple addresses or no address in the State in which the registry is located.
Article 30. Impact of a change of the grantor' s identifier on the effectiveness of the registration.
He submitted that the registration number could never be expected to match the grantor identifier, since they were two entirely different components of a registration notice.
However, the prevailing view was that it would be sufficient to require that the secured creditor should give notice to the grantor and its other creditors.
First, this result merely eliminates the need for the secured creditor to take certain additional steps in its loan documentation with the grantor.
In some States, the law of immovable property requires that a notice of the security right be given to the grantor of the mortgage on the land.
Effectiveness against the grantor of a security right that is not effective against third parties.
However, this solution has the drawback that it also delays the extension of credit to the grantor.
The policy objective is to provide the grantor with the chance to gain additional financing by isolating these new assets from the existing security.
Thus, a secured creditor may not assert a right to payment of the proceeds otherwise not payable to the secured creditor' s grantor.
It was also noted that another approach might be to require that only one of the linguistic versions of the grantor' s name be listed in the notice.
One approach would be to require that all official linguistic versions of the grantor' s name be entered as separate grantor identifiers in the notice.
Article 48. Priority of rights of the grantor' s insolvency representative[and creditors in the grantor' s insolvency].
With regard to recommendation 204, the concern was expressed that, by requiring registration in the new jurisdiction to which the assets or the grantor might move, it might add to the cost of financing transactions.
While it is normally not difficult to determine who are the parties to a security agreement(i.e. the grantor and the secured creditor) defining who is to be considered a" third party" is more complex.
The first exception is a situation in which the secured creditor has authorized the grantor to enter into the lease unaffected by the security right(see A/CN.9/631, recommendation 86, subpara.(b)(i)).
In other States, possession may be symbolic, as when a grantor affixes a notice to an object or to the door of an establishment stating that the object or contents of the establishment have been pledged to the secured creditor.
In paragraph 48, first sentence, the words" against the grantor" should be replaced by the words" with respect to the grantor"(see A/CN.9/767, para. 19(c)).