1. The two companies may terminate the subordination agreement by mutual agreement once it has been in force for one full financial year.
1 - As duas sociedades podem resolver, por acordo, o contrato de subordinação, depois de este ter vigorado um exercício completo.
2. Termination by mutual agreement is resolved upon by the general meetings of both companies in the manner required for entering into the agreement.
2 - A resolução por acordo é deliberada pelas assembleias gerais das duas sociedades, nos termos exigidos para a celebração do contrato.
a) On the dissolution of either of the two companies;
a) Pela dissolução de alguma das duas sociedades;
c) By court judgment in proceedings brought by either company on the ground of just cause;
c) Por sentença judicial, em acção proposta por alguma das sociedades com fundamento em justa causa;
d) By termination on notice given by either company, in accordance with the following paragraph, if the agreement is not for a fixed term.
d) Por denúncia de alguma das sociedades, nos termos do número seguinte, se o contrato não tiver duração determinada.
4. Termination on notice by either company may not take place before the agreement has been in force for five years; it must be authorised by a resolution of the general meeting in accordance with paragraph 2, is notified to the other company by registered letter, and takes effect only at the end of the following financial year.
4 - A denúncia por alguma das sociedades não pode ter lugar antes de o contrato ter vigorado cinco anos; deve ser autorizada por deliberação da assembleia geral, nos termos do n.º 2, é comunicada à outra sociedade, por carta registada, e só produz efeitos no fim do exercício seguinte.
5. Termination on notice under paragraph 3(d) is authorised by a resolution adopted in accordance with paragraph 2.
5 -A denúncia prevista no n.º 3, alínea d), é autorizada por deliberação tomada nos termos do n.º 2.
The one-full-financial-year minimum before termination by agreement, the four grounds of termination in paragraph 3, and the five-year minimum, registered-letter notice and end-of-following-financial-year effect for termination by notice are retained.
We advise on Portuguese company law in English every day: formation, capital, members’ resolutions, managers’ liability and restructuring. A written answer and a fixed quote within one working day.
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.