2 resultados para Pari Passu priority

em RUN (Repositório da Universidade Nova de Lisboa) - FCT (Faculdade de Cienecias e Technologia), Universidade Nova de Lisboa (UNL), Portugal


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Contractual provisions directed towards the fulfillment of the contract itself or concerning the promisor’s conduct are nowadays widespread (both geographically and regarding the situations in which they are used), posing interpretative problems that demand the consideration of private autonomy’s extent and its limits on their application. A number of such clauses or covenants proliferate on all sectors of juridical activity, although with different configurations in each particular situation, whereby the study of negative pledge, pari passu, cross-default and ownership clauses merely constitutes a conceptual framework for considerations concerning the virtues and challenges of this type of contractual arrangements, particularly in relation to the precepts of the legal system as a whole. This study also aims to display the special characteristics that justify their prevalence in banking and financial law. We intend to analyze their, mostly preventive, function, typifying the main problems that arise, as well as their limitations and advantages.

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The second half of the XX century was marked by a great increase in the number of people living in cities. Urban agglomerations became poles of attraction for migration flows and these phenomena, coupled with growing car-ownership rates, resulted in the fact that modern transport systems are characterized by large number of users and traffic modes. The necessity to organize these complex systems and to provide space for different traffic modes changed the way cities look. Urban areas had to cope with traffic flows, and as a result nowadays typical street pattern consists of a road for motorized vehicles, a cycle lane (in some cases), pavement for pedestrians, parking and a range of crucial signage to facilitate navigation and make mobility more secure. However, this type of street organization may not be desirable in certain areas, more specifically, in the city centers. Downtown areas have always been places where economic, leisure, social and other types of facilities are concentrated, not surprisingly, they often attract large number of people and this frequently results in traffic jams, air and noise pollution, thus creating unpleasant environment. Besides, excessive traffic signage in central locations can harm the image and perception of a place, this relates in particular to historical centers with architectural heritage.