Common use of Changes in the Law Clause in Contracts

Changes in the Law. If ANZ gives you notice that, in ANZ’s opinion, it has become illegal in a jurisdiction or otherwise impracticable for ANZ to continue to make the loan or facility available, ANZ’s obligations in relation to the loan or facility will terminate and you shall on written demand by ANZ repay within the time period permitted all advances outstanding under the loan or facility, together with Accrued Interest thereon (calculated at the applicable rate or rates) and all other sums payable under the Loan Agreement. Such a situation could arise because of: (a) a change in a government requirement or a new government requirement; (b) change in the law, written or unwritten, or a new law; or (c) a change in the interpretation of a government requirement or law.