Jul 27, 2016 09:31
7 yrs ago
16 viewers *
Spanish term

preferente

Spanish to English Law/Patents Law: Contract(s) working capital loan
Hello all. Again from a Mexican working capital loan contract. Cannot figure out what "preferente" means here. (Also don't understand what "en primer lugar" means, but maybe that will become clear once I understand "preferente".) I did go through the posts that already exist on this word, but they seem to use it slightly differently.

LA PARTE ACREDITADA constituye garantía real prendaria, preferente, en primer lugar, en los términos de los artículos 322, trescientos veintidós... de la ley general de títulos y operaciones de crédito, y con exclusión de cualquier otra obligaciones o acreedor que pudiera tener, sobre la materia prima y cuanto más se adquiera con el importe del crédito concedido, así como sobre todos los frutos, productos o artefactos elaborados o industrializados que se obtengan del mismo crédito, tanto actuales como en proceso, futuros o pendientes.

Thanks again!

Discussion

DIANNE BEREST (asker) Jul 29, 2016:
thanks Thanks Andres. Por allí va el concepto creo.
andres-larsen Jul 28, 2016:
@Dianne first lien secured working capital loan contract:

Second lien loan - Wikipedia, the free encyclopedia
https://en.wikipedia.org/wiki/Second_lien_loan
The vast majority of all second lien loans are senior secured obligations of the borrower. Second lien loans differ from both unsecured debt and subordinated debt. Contents. 1 Second lien and first lien secured loans; 2 Second lien and unsecured ... However, second lien debt can often reduce the overall cost of capital in a ...
DIANNE BEREST (asker) Jul 28, 2016:
think this is it Borrower has agreed to secure all of its Obligations by granting to Collateral Agent, for the benefit of Secured Parties, a First Priority Lien on substantially all of its assets, including a pledge of all of the Equity Interests of each of its Domestic Subsidiaries and 65% of all the Equity Interests of each of its Foreign Subsidiaries; and
DIANNE BEREST (asker) Jul 28, 2016:
maybe it's this idea When a lender is in a first lien position, it means that they are in the first or priority position to benefit from any liquidation of the collateral which secures the loan, in the event that the loan is in default and the property is to be sold.

Proposed translations

1 day 7 hrs
Selected

first lien (secured working capital loan contract)

first lien secured working capital loan contract:

Second lien loan - Wikipedia, the free encyclopedia
https://en.wikipedia.org/wiki/Second_lien_loan
The vast majority of all second lien loans are senior secured obligations of the borrower. Second lien loans differ from both unsecured debt and subordinated debt. Contents. [hide]. 1 Second lien and first lien secured loans; 2 Second lien and unsecured ... However, second lien debt can often reduce the overall cost of capital in a ...
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4 KudoZ points awarded for this answer. Comment: "Gracias a todos por el apoyo."
-1
10 hrs
Spanish term (edited): preferente y "en primer lugar"

First and foremost

Translating this word for word you have
Preferential, in first place
"First and fore most" is a more formal way and older way of describing something as being the most important out of what is being said. It is the same as "First of all" but within a Contract the more formal the better.
Example sentence:

What we need "first and foremost" is a new secretary

Note from asker:
Thanks Amanda. I don't see how that makes sense in the sentence though.
Peer comment(s):

disagree AllegroTrans : this makes no sense in the context; word-for-word translating is generally of little use with legal expressions
2 days 1 hr
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Reference comments

14 mins
Reference:

preferential

Jet Airways today approves 24% preferencial share allotment to Etihad - http://www.bing.com/search?q=the deal is preferencial&pc=cos...
Preferential treatment leads a list of types of misconduct observed by employees, according to new data from the Corporate Executive Board, an Arlington, Va.-based business research and advisory firm. - http://www.marketwatch.com/story/a-co-worker-is-the-bosss-pe...
Preferential treatment tops list of workers’ complaints - the same link
Note from asker:
Si, pero ... preferential collateral? I don't get it.
Peer comments on this reference comment:

neutral AllegroTrans : Your references do not relate in any way to the source text
2 hrs
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2 hrs
Reference:

first lien mortgage loan / senior mortgage

first lien mortgage loan > préstamo hipotecario de primer grado
www.proz.com/kudoz/.../1273794-first_lien_mortgage_loan.htm...
‎6 Mar 2006 ... (KudoZ) English to Spanish translation of first lien mortgage loan: ... Según Thomas West, "first mortgage" es "hipoteca de primer grado", pero ...

constitución de hipoteca en primer grado como garantía ... - ProZ.com
www.proz.com/kudoz/.../130408-constitución_de_hipoteca_en_p...
‎9 Ene 2002 ... (KudoZ) Spanish to English translation of constitución de hipoteca en primer grado como garantía de los saldos de precio: establish a senior ...

grava con derecho real de hipoteca en primer grado de ... - ProZ.com
www.proz.com/kudoz/.../1663938-grava_con_derecho_real_de_hi...
‎30 Nov 2006 ... (KudoZ) Spanish to English translation of ...grava con derecho real de hipoteca en primer grado de privilegio a favor de: lien with right of first ...

anticresis e hipoteca convencional de primer grado - ProZ.com
www.proz.com/kudoz/.../1316387-anticresis_e_hipoteca_conven...
‎19 Apr 2006 ... (KudoZ) Spanish to English translation of anticresis e hipoteca convencional de primer grado: antichresis and conventional first mortgage ...
Note from asker:
Thanks Andres. I think it might have to do with the "first" concept, although maybe no mortgage as it's not a property that's being referred to in this case. First lien maybe? Does that make sense?
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