1. Under the subordination agreement, the directing company assumes the obligation to pay to the outside members of the subordinate company the difference between the profit actually made and the higher of the following amounts:
1 - Pelo contrato de subordinação, a sociedade directora assume a obrigação de pagar aos sócios livres da sociedade subordinada a diferença entre o lucro efectivamente realizado e a mais elevada das importâncias seguintes:
a) The average of the profits received by the outside members in the three financial years preceding the subordination agreement, calculated as a percentage of the share capital;
a) A média dos lucros auferidos pelos sócios livres nos três exercícios anteriores ao contrato de subordinação, calculada em percentagem relativamente ao capital social;
b) The profit that would be received on quota interests or shares of the directing company had those members’ quota interests or shares been exchanged for them.
b) O lucro que seria auferido por quotas ou acções da sociedade directora, no caso de terem sido por elas trocadas as quotas ou acções daqueles sócios.
2. The guarantee conferred in the preceding paragraph remains in place for as long as the group agreement is in force and continues for the five financial years following the termination of that agreement.
2 - A garantia conferida no número anterior permanece enquanto o contrato de grupo vigorar e mantém-se nos cinco exercícios seguintes ao termo deste contrato.
The 'higher of' two benchmarks, the three-financial-year average expressed as a percentage of share capital, and the guarantee's continuation for five financial years after termination are retained.
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Unofficial English translation prepared by BCA Portugal for reference. Only the Portuguese text published in the Diário da República has legal force. Editorial notes are ours and are not part of the statute.