CHANGE OF LAW OR REGULATION OR MARKET STRUCTURE Sample Clauses

CHANGE OF LAW OR REGULATION OR MARKET STRUCTURE. Without prejudice to the rights of the Parties under Clause 9, in the event that there is a Relevant Change during the subsistence of this Framework Agreement, and as a result of such Relevant Change: this Framework Agreement or any provision of this Framework Agreement is or becomes invalid, illegal or unenforceable, or is declared by any court of competent jurisdiction or any other Regulatory Body to be invalid, illegal or unenforceable; or a Regulatory Body: refuses, or formally indicates an intention to refuse, any necessary authorisation of, or exemption to, any of the provisions of or arrangements contained in this Framework Agreement (in the case of a refusal either by way of outright refusal or by way of a requirement that this Framework Agreement be amended or any of its provisions be deleted or that a Party give an undertaking or accept a condition as to future conduct); formally indicates that to continue to operate any provision of this Framework Agreement may expose either or both of the Parties to sanctions under Law, or requests any Party to give undertakings or to accept conditions as to future conduct in order that such Party may not be subject to such sanctions; or (subject to Clause 5.14) it becomes impossible to carry out the calculations which are required to be carried out under this Framework Agreement, (a “Relevant Change Effect”) without amending this Framework Agreement to remedy or avoid that Relevant Change Effect, then either Party shall, as soon as reasonably practicable after becoming aware of a Relevant Change, give notice in writing to the other Party (an “Amendment Notice”) specifying:
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CHANGE OF LAW OR REGULATION OR MARKET STRUCTURE. Without prejudice to the rights and obligations of the Parties under Schedule 14, in the event that there is a Relevant Change during the Term and, as a result of such Relevant Change: this Framework Agreement or any provision of this Framework Agreement is or becomes invalid, illegal or unenforceable, or is declared by any court of competent jurisdiction or any other regulatory body to be invalid, illegal or unenforceable; a regulatory body: refuses, or formally indicates an intention to refuse, any necessary authorisation of, or exemption to, any of the provisions of or arrangements contained in this Framework Agreement (in the case of a refusal either by way of outright refusal or by way of a requirement that this Framework Agreement be amended or any of its provisions be deleted or that a Party give an undertaking or accept a condition as to future conduct); or formally indicates that to continue to operate any provision of this Framework Agreement may expose either or both of the Parties to sanctions under Law, or requests any Party to give undertakings or to accept conditions as to future conduct in order that such Party may not be subject to such sanctions; or it becomes impossible to carry out the calculations which are required to be carried out under this Framework Agreement, (“Relevant Change Effect”) then either Party shall, as soon as reasonably practicable after becoming aware of a Relevant Change, give notice in writing to the other Party (“Amendment Notice”) specifying: the Relevant Change and Relevant Change Effect which has occurred, giving reasonable details of such Relevant Change and Relevant Change Effect; and the amendments to this Framework Agreement proposed by such Party which are or may be required in order to remedy or avoid such Relevant Change Effect. Within ten (10) Working Days of receipt of the Amendment Notice, the Parties shall meet and negotiate with a view to agreeing: whether or not the Relevant Change and the Relevant Change Effect specified in that Amendment Notice have occurred; and the amendments, if any, to this Framework Agreement which are required in order to remedy or avoid such Relevant Change Effect and which as closely as possible reflect the commercial intent of this Framework Agreement and which, if applicable, are satisfactory to all relevant regulatory bodies. In the event that the Parties do not so agree through negotiation pursuant to Clause 10.2 within fifteen (15) Working Days of receipt of the Amen...
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CHANGE OF LAW OR REGULATION OR MARKET STRUCTURE. 15.1 Application of this Clause: This Clause 15 applies to:
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Related to CHANGE OF LAW OR REGULATION OR MARKET STRUCTURE

  • Change of Law In this Agreement, unless the context otherwise requires, references to a statutory provision include references to that statutory provision as from time to time amended, extended or re- enacted and any regulations made under it, provided that in the event that the amendment, extension or re-enactment of any statutory provision or introduction of any new statutory provision has a material impact on the obligations of either Party, the Parties will negotiate in good faith to agree such amendments to this Agreement as may be appropriate in the circumstances. If, within a reasonable period of time, the Supplier/Service Provider and Transnet cannot reach agreement on the nature of the changes required or on modification of Prices, delivery schedules, warranties, or other terms and conditions, either Party may seek to have the matter determined in accordance with clause 32 [Dispute Resolution] above.

  • Effect of Passage of Law Any provision of this Agreement which is contrary to law, but becomes legal during the term of this Agreement, shall be reinstated consistent with such legislation.

  • Effect of Later Determination In the event the parties agree or a court of competent jurisdiction determines (or the parties agree to settle with a consent determination) that a default is wrongful or not the fault of the Contractor, the termination shall be considered to be a Termination for Convenience and the sole remedy available to the Contractor shall be the contractual treatment of the termination as termination for convenience pursuant to Section 23.0 above and without any other damages or relief.

  • Change in Guidelines Prior to Sentencing The defendant agrees that if any applicable provision of the Guidelines changes after the execution of this plea agreement, then any request by defendant to be sentenced pursuant to the new Guidelines will make this plea agreement voidable by the United States at its option. If the Government exercises its option to void the plea agreement, the United States may charge, reinstate, or otherwise pursue any and all criminal charges that could have been brought but for this plea agreement.

  • Application of Laws and Regulations (1) The laws and regulations of one Contracting Party relating to the admission to, departure from or operation and navigation in its territory of aircraft engaged in the international operation shall be applicable to the aircraft of the designated airline of the other Contracting Party, while entering, departing from or operating and navigating in the territory of the first Contracting Party.

  • Effect of Laws, Rules and Regulations The Exclusive Representative recognizes that all employees covered by this Agreement shall perform the services and duties prescribed by the School District and shall be governed by the laws of the State of Minnesota and by School District rules, regulations, directives and orders, issued by properly designated officials of the School District. The Exclusive Representative also recognizes the right, obligation and duty of the School District and its duly designated officials to promulgate rules, regulations, directives and orders from time to time as deemed necessary by the School District insofar as such rules, regulations, directives and orders are not inconsistent with the terms of this Agreement, and recognizes that the School District, all employees covered by this agreement, and all provisions of this Agreement are subject to State and Federal law. Any provisions of this Agreement found to be in violation of any such laws, rules, regulation directives or orders shall be null and void and without force and effect.

  • No Injunctions or Restraints; Illegality No order, injunction or decree issued by any court or agency of competent jurisdiction or other legal restraint or prohibition preventing the consummation of the Merger or any of the other transactions contemplated by this Agreement shall be in effect. No statute, rule, regulation, order, injunction or decree shall have been enacted, entered, promulgated or enforced by any Governmental Entity which prohibits or makes illegal consummation of the Merger.

  • No Rule of Strict Construction Regardless of which party may have drafted this Agreement, no rule of strict construction shall be applied against either party. If any provision of this Agreement is determined by a court to be unenforceable, the parties shall deem the provision to be modified to the extent necessary to allow it to be enforced to the extent permitted by law, or if it cannot be modified, the provision will be severed and deleted from this Agreement, and the remainder of this Agreement will continue in effect.

  • ORDINANCES AND STATUTES Lessee shall comply with all statutes, ordinances and requirements of all municipal, state and federal authorities now in force, or which may hereafter be in force, pertaining to the premises, occasioned by or affecting the use thereof by Lessee.

  • ENACTMENT It is agreed that the foregoing shall be jointly submitted to the Alameda County Board of Supervisors by the Director of Human Resource Services and the Union for the Board's consideration and approval. Upon approval, the Board shall adopt an Ordinance which shall incorporate this Memorandum in full or by reference. Upon such adoption, the provisions of this Memorandum shall supersede and control over conflicting or inconsistent County Ordinances and Resolutions.

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