Common use of Event of Default and Illegality Clause in Contracts

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of Default.

Appears in 781 contracts

Samples: Master Agreement (Toyota Auto Finance Receivables LLC), Master Agreement (BMW Fs Securities LLC), Master Agreement (Financial Services Vehicle Trust)

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Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality illegality and will not constitute an Event of Default.

Appears in 11 contracts

Samples: Master Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2007-Oci), Master Agreement (First Franklin Mortgage Loan Trust 2006-Ff17), Master Agreement (Washington Mutual Asset-Backed Certificates, WMABS Series 2007-He1)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event Event-of Default.

Appears in 10 contracts

Samples: Master Agreement (Vw Credit Leasing LTD), Swap Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Swap Agreement (Vw Credit Leasing LTD)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of Default. 6.

Appears in 5 contracts

Samples: Financing Agreement (Central Vermont Public Service Corp), Master Agreement (Dollar General Corp), Mbna America Bank National Association

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as is an Illegality and will not constitute an Event of Default.

Appears in 4 contracts

Samples: Master Agreement (Magnetek Inc), Master Agreement (Seacor Smit Inc), Master Agreement (Conseco Inc)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegalityillegality, it will be treated as an Illegality and will not constitute an Event of Default.

Appears in 3 contracts

Samples: Master Agreement (Toyota Motor Credit Corp), Master Agreement (Toyota Auto Lease Trust 1998 C), Master Agreement (American Honda Receivables Corp)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, Illegality it will be treated as an Illegality and will not constitute an Event of Default.

Appears in 2 contracts

Samples: Trading Master Agreement, Exchange Agreement (Cogen Technologies Inc)

Event of Default and Illegality. If an event or circumstance which would otherwise otherwise5 constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of Default.

Appears in 2 contracts

Samples: MACROshares Oil Up Tradeable Trust, MACRO Securities Depositor, LLC

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of Default.

Appears in 2 contracts

Samples: Master Agreement (Gracechurch Receivables Trustee LTD), Master Agreement (Turbochef Technologies Inc)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of Default.. 7 ISDA 1992

Appears in 2 contracts

Samples: Master Netting Agreement, Master Netting Agreement

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegalityillegality, it will be treated as an Illegality an, illegality and will not constitute an Event of Default.

Appears in 1 contract

Samples: Term Loan Agreement (Outdoor Channel Holdings Inc)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of or Default.

Appears in 1 contract

Samples: Master Agreement (Alpha Technologies Group Inc)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give Give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of Default.

Appears in 1 contract

Samples: Master Agreement (Cmgi Inc)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of Default.. 5

Appears in 1 contract

Samples: Master Agreement (Franklin Credit Management Corp/De/)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not not. constitute an Event of Default.

Appears in 1 contract

Samples: Master Agreement (Packaging Dynamics Corp)

Event of Default and Illegality. If an event or of circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegalityillegality, it will be treated as an Illegality and will not constitute an Event of Default.

Appears in 1 contract

Samples: Master Agreement (Itec Attractions Inc)

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Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegalityillegality, it will be treated as an Illegality illegality and will not constitute an Event of Default.

Appears in 1 contract

Samples: New America High Income Fund Inc

Event of Default and Illegality. If an event or circumstance which that would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of Default.

Appears in 1 contract

Samples: Master Agreement (Affiliate Investment, Inc.)

Event of Default and Illegality. If an any event or circumstance which would otherwise constitute or give rise rise. to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of Default.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Springs Industries Inc)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of Default.. --------------------------------------------------------------------------------

Appears in 1 contract

Samples: Master Agreement (Dune Energy Inc)

Event of Default and Illegality. If In an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of Default.

Appears in 1 contract

Samples: Master Agreement (Alleghany Corp /De)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of Default.. [LETTER HEAD APPEARS HERE]

Appears in 1 contract

Samples: Master Agreement (Brookstone Inc)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give orgive rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute notconstitute an Event of Default.

Appears in 1 contract

Samples: Master Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-1)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and Table of Contents will not constitute an Event of Default.

Appears in 1 contract

Samples: Master Agreement (National Steel Co)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of Default.. ISDAÒ 1992

Appears in 1 contract

Samples: Master Agreement (GAIN Capital Holdings, Inc.)

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