Common use of Cancellation due to Lender Illegality Clause in Contracts

Cancellation due to Lender Illegality. (a) If, prior to the Disbursement Date, it becomes unlawful in any applicable jurisdiction for any Lender to perform any of its obligations as contemplated by this Agreement, any other Finance Document and/or the Funding Agreement, then such Lender shall promptly notify the Facility Agent upon becoming aware of such event and the Facility Agent shall then notify the Borrower. (b) Upon the Borrower being so notified, the Commitments of such affected Lender shall be cancelled.

Appears in 7 contracts

Samples: Fifth Amendment and Restatement Agreement (Royal Caribbean Cruises LTD), Credit Agreement (Royal Caribbean Cruises LTD), Credit Agreement (Royal Caribbean Cruises LTD)

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