Government Intervention Clause Samples
The Government Intervention clause outlines the rights and obligations of the parties in the event that government actions, such as new regulations, restrictions, or orders, impact the performance of the contract. Typically, this clause specifies what happens if a government authority imposes requirements that delay, prevent, or alter the agreed-upon terms, such as halting work or mandating changes to products or services. Its core function is to allocate risk and provide a clear process for addressing disruptions caused by government actions, ensuring that both parties understand their responsibilities and remedies in such situations.
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Government Intervention. The authority of any member of the NCLC Group in the conduct of its business shall be wholly or substantially curtailed by any seizure or intervention by or on behalf of any authority and within 90 days of the date of its occurrence any such seizure or intervention is not relinquished or withdrawn and the Facility Agent reasonably considers that the relevant occurrence is or might be expected to become materially prejudicial to the interests, rights or position of the Agents and/or the Lenders; provided that the Borrower shall not be entitled to the aforesaid 90 day period if the seizure or intervention executed by any authority is due to an act or omission of any member of the NCLC Group and the Facility Agent is satisfied, in its sole discretion, that the interests of the Agents and/or the Lenders might reasonably be expected to be materially adversely affected; or
Government Intervention. (i) All or a substantial part of the undertaking and assets or the Borrower or any of its Material Subsidiaries is condemned, seized or otherwise appropriated by any person acting under the authority of any Agency, national, regional or local government; or (ii) the Borrower or any of its Material Subsidiaries is prevented by any such person from exercising normal control over all or a substantial part of its undertaking and assets.
Government Intervention. The authority of any Credit Party in the conduct of its business shall be wholly or substantially curtailed by any seizure or intervention by or on behalf of any governmental authority and within 90 days of the date of its occurrence any such seizure or intervention is not relinquished or withdrawn and the Administrative Agent reasonably considers that the relevant occurrence is or could reasonably be expected to become materially prejudicial to the interests, rights or position of the Administrative Agent, the Collateral Agent and/or the Lenders with respect to their ability to enforce the payment or performance of the Obligations; provided that the Borrower shall not be entitled to the benefit of the aforesaid 90 day period if the seizure or intervention executed by any governmental authority is due to the gross negligence or willful misconduct of any Credit Party and the Administrative Agent is satisfied, in its sole discretion, that the interests of the Administrative Agent, the Collateral Agent and/or the Lenders could reasonably be expected to be materially adversely affected; then, and in any such event, and at any time thereafter, if any Event of Default shall then be continuing, the Administrative Agent, upon the written request of the Required Lenders, shall by written notice to the Borrower, take any or all of the following actions, without prejudice to the rights of the Administrative Agent, any Lender or the holder of any Note to enforce its claims against any Credit Party (provided that if an Event of Default specified in Section 11.05 shall occur, the result which would occur upon the giving of written notice by the Administrative Agent to the Borrower as specified in clauses (i) and (ii) below shall occur automatically without the giving of any such notice): (i) declare the Total Commitment terminated, whereupon all Commitments of each Lender shall forthwith terminate immediately and any accrued and unpaid Commitment Commission shall forthwith become due and payable without any other notice of any kind; (ii) declare the principal of and any accrued interest in respect of all Loans and the Notes and all Obligations owing hereunder and thereunder to be, whereupon the same shall become, forthwith due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by each Credit Party; (iii) terminate any Letter of Credit which may be terminated in accordance with its terms; (iv) direct the Borrower ...
Government Intervention. Permit the assertion or making of any seizure, vesting or intervention by or under authority of any governmental entity, as a result of which the management of Borrower or Guarantor is displaced of its authority in the conduct of its respective business or such business is curtailed or materially impaired.
Government Intervention. By or under the authority/order of any government/court or otherwise: (i) the management of the Obligor(s) is wholly or partially displaced or the authority of the Obligor(s) in the conduct of its business is wholly or partially curtailed; or (ii) all or a majority of the issued shares of the Obligor(s) or the whole or any part of its/their revenues or assets is seized, nationalized, expropriated or compulsorily acquired; or (iii) if any attachment, distress, execution or other process against the Obligor(s), or any of its properties is enforced or levied upon.
Government Intervention. TAEC reserves the right to adjust prices or quantities to equitably compensate for increases in tariffs or similar charges, or for other government actions resulting in curtailment, prevention, or taxation of imports. Unless otherwise required by law, all prices will be quoted and billed exclusive of Federal, state, and local excise, sales, and similar taxes, but inclusive of import duties.
Government Intervention. Borrower shall not permit the assertion or making of any seizure, vesting or intervention by or under authority of any government by which the management of Borrower or any guarantor is displaced of its authority in the conduct of its respective business or such business is curtailed or materially impaired.
Government Intervention. (i) all or any substantial part of the undertaking, assets and revenues of the Issuer is condemned, seized or otherwise appropriated by any person acting under the authority of any national, regional or local government or (ii) the Issuer is prevented by any such person from exercising normal control over all or any substantial part of its undertaking, assets and revenues.
Government Intervention. Any Authorisation relating to the Projects or the Borrowers or any other Obligor is modified, revoked, withdrawn or cancelled and such modification, revocation, withdrawal or cancellation has or is reasonably likely to have a Material Adverse Effect.
Government Intervention. By or under the authority/order of any government/court or otherwise: (i) the management of the Borrower is wholly or partially displaced or the authority of the Borrower in the conduct of its business is wholly or partially curtailed; or (ii) all or a majority of the issued shares of the Borrower or the whole or any part of its/their revenues or assets is seized, nationalized, expropriated or compulsorily acquired; or (iii) If any attachment, distress, execution or other process against the Borrower, or any of its properties is enforced or levied upon