Common use of FORCE MAJEURE AND ILLEGALITY Clause in Contracts

FORCE MAJEURE AND ILLEGALITY. 30.1 The First Transaction Account Bank shall not be obliged to perform any of its obligations under this Agreement to the extent that, but only for so long as it is prevented from doing so, by any future law or regulation, any future act of governmental authority, fire, flood and other catastrophe, terrorist activity, act of god, war, riot, rebellion, civil commotion, strike, lockout, other industrial action, general failure of electricity or other supply, aircraft collision, accident or mechanical and electrical breakdown. 30.2 The First Transaction Account Bank shall not be obliged to perform any of its obligations under this Agreement to the extent that, in the reasonable opinion of the First Transaction Account Bank, (but only for so long as it is prevented from doing so), performance of such obligation would be illegal or would result in the First Transaction Account Bank being in breach of English law or any rule, regulation, decree, order, award, decision or judgment of a relevant court, government agency, regulatory authority, stock exchange or self- regulatory organisation to which Citibank, N.A., London Branch is subject. 30.3 The First Transaction Account Bank shall notify the Issuer (in the case of the First Issuer Account Bank), or the Mortgages Trustee (in the case of the First Mortgages Trustee Account Bank), as the case may be, if the First Transaction Account Bank is unable to perform its obligations pursuant to Clause 30.1 or Clause 30.2, and it shall use its best endeavours to comply with its obligations as soon as it is reasonably practicable after the events specified in Clause 30.1 or Clause 30.2 above have ceased to apply.

Appears in 2 contracts

Samples: First Account Bank Agreement, First Account Bank Agreement

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FORCE MAJEURE AND ILLEGALITY. 30.1 28.1 The First Transaction VM Issuer Account Bank shall not be obliged to perform any of its obligations under this Agreement to the extent that, but only for so long as it is prevented from doing so, by any future law or regulation, any future act of governmental authority, fire, flood and other catastrophe, terrorist activity, act of god, war, riot, rebellion, civil commotion, strike, lockout, other industrial action, general failure of electricity or other supply, aircraft collision, accident or mechanical and electrical breakdown. 30.2 28.2 The First Transaction VM Issuer Account Bank shall not be obliged to perform any of its obligations under this Agreement to the extent that, in the reasonable opinion of the First Transaction VM Issuer Account Bank, (but only for so long as it is prevented from doing so), performance of such obligation would be illegal or would result in the First Transaction VM Issuer Account Bank being in breach of English law or and any rule, regulation, decree, order, award, decision or judgment of a relevant court, government agency, regulatory authority, stock exchange or self- self-regulatory organisation to which Citibank, N.A., London Branch the VM Issuer Account Bank is subject. 30.3 28.3 The First Transaction VM Issuer Account Bank shall notify the Issuer (in the case of the First Issuer Account Bank), or the Mortgages Trustee (in the case of the First Mortgages Trustee Account Bank), as the case may be, if the First Transaction VM Issuer Account Bank is unable to perform its obligations pursuant to Clause 30.1 28.1 or Clause 30.228.2 above, and it shall use its best reasonable endeavours to comply with its obligations as soon as it is reasonably practicable after the events specified in Clause 30.1 28.1 or Clause 30.2 28.2 above have ceased to apply.

Appears in 2 contracts

Samples: Vm Issuer Account Bank Agreement, Vm Issuer Account Bank Agreement

FORCE MAJEURE AND ILLEGALITY. 30.1 The First Second Transaction Account Bank shall not be obliged to perform any of its obligations under this Agreement to the extent that, but only for so long as it is prevented from doing so, by any future law or regulation, any future act of governmental authority, fire, flood and other catastrophe, terrorist activity, act of god, war, riot, rebellion, civil commotion, strike, lockout, other industrial action, general failure of electricity or other supply, aircraft collision, accident or mechanical and electrical breakdown. 30.2 The First Second Transaction Account Bank shall not be obliged to perform any of its obligations under this Agreement to the extent that, in the reasonable opinion of the First Second Transaction Account Bank, (but only for so long as it is prevented from doing so), performance of such obligation would be illegal or would result in the First Second Transaction Account Bank being in breach of English law or any rule, regulation, decree, order, award, decision or judgment of a relevant court, government agency, regulatory authority, stock exchange or self- self-regulatory organisation to which CitibankElavon Financial Services DAC, N.A., London UK Branch is subject. 30.3 The First Second Transaction Account Bank shall notify the Issuer (in the case of the First Second Issuer Account Bank), or the Mortgages Trustee (in the case of the First Second Mortgages Trustee Account Bank), as the case may be, if the First Second Transaction Account Bank is unable to perform its obligations pursuant to Clause 30.1 or Clause 30.2, and it shall use its best all reasonable endeavours to comply with its obligations as soon as it is reasonably practicable after the events specified in Clause 30.1 or Clause 30.2 above have ceased to apply.

Appears in 1 contract

Samples: Second Account Bank Agreement

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FORCE MAJEURE AND ILLEGALITY. 30.1 The First Second Transaction Account Bank shall not be obliged to perform any of its obligations under this Agreement to the extent that, but only for so long as it is prevented from doing so, by any future law or regulation, any future act of governmental authority, fire, flood and other catastrophe, terrorist activity, act of god, war, riot, rebellion, civil commotion, strike, lockout, other industrial action, general failure of electricity or other supply, aircraft collision, accident or mechanical and electrical breakdown. 30.2 The First Second Transaction Account Bank shall not be obliged to perform any of its obligations under this Agreement to the extent that, in the reasonable opinion of the First Second Transaction Account Bank, (but only for so long as it is prevented from doing so), performance of such obligation would be illegal or would result in the First Second Transaction Account Bank being in breach of English law or any rule, regulation, decree, order, award, decision or judgment of a relevant court, government agency, regulatory authority, stock exchange or self- self-regulatory organisation to which Citibank, N.A.BNP Paribas Securities Services, London Branch is subject. 30.3 The First Second Transaction Account Bank shall notify the Issuer (in the case of the First Second Issuer Account Bank), or the Mortgages Trustee (in the case of the First Second Mortgages Trustee Account Bank), as the case may be, if the First Second Transaction Account Bank is unable to perform its obligations pursuant to Clause 30.1 or Clause 30.2, and it shall use its best all reasonable endeavours to comply with its obligations as soon as it is reasonably practicable after the events specified in Clause 30.1 or Clause 30.2 above have ceased to apply.

Appears in 1 contract

Samples: Second Account Bank Agreement

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