Toni Castano Sep 30, 2019:

@Louisa, Robert I have just posted my agree to support Robert´s interpretation, which is also yours. This is just to confirm that the borrower (parte acreditada) may (or may not depending on the circumstances) sue the defaulting party (= lender, parte acreditante). Louisa, your initial interpretation was right. I stand corrected. Please accept my apologies for the confusion.

Robert Carter Sep 30, 2019:

@Louisa Thank you, then your translation seems perfectly reasonable to me; it's definitely the Borrower.

@Toni.
I'm not sure what you mean. Louisa has identified the parties correctly - she said exactly the same thing as you, i.e., that the "Acreditada" (Borrower) is the party that may or may not take action against the other party.

Louisa6425 (asker) Sep 30, 2019:

Sure, here you go:
En el supuesto de que algún Acreditante, a pesar de los compromisos que adquiere por el presente Contrato, no pusiera a disposición de la Acreditada los fondos comprometidos según el presente Contrato, ello no afectará al otro Acreditante, que no estará obligado a asumir la parte correspondiente al Acreditante incumplidor, todo ello sin perjuicio de las acciones que frente a este último puedan incumbir a la Acreditada.

Toni Castano Sep 30, 2019:

@Louisa425 Your translation attempt does not go in the right direction because I think you are identifying the parties involved wrongly. The "Acreditada" is the party that may (or may not) take actions against the other party (este último).
As for your specific question: Nobody is taking any action… yet. When the Spanish subjunctive (presente de subjuntivo = puedan, in this case) is used, we are just speaking of possibilities, possible actions in this case. In other words, the "Acreditada" (don´t know who this is, lack of context, as Robert says!) may or may not proceed against the party identified as "este último" (again, insufficient context to ascertain who they are). The key point is that the "Acreditada" (???) may proceed against the other party, if they wish to do so.

Robert Carter Sep 30, 2019:

@Louisa Could you give us the complete sentence?