Illegality and Commercial Lender’s financial requirements. If it becomes unlawful under any law, regulation, treaty or of any directive of any monetary authority (whether or not having the force of law) in any applicable jurisdiction for a Lender to perform any of its obligations as contemplated by this Agreement or to fund or maintain its participation in the Loan or the Commercial Lenders’ Guarantee or the Borrower has not replaced the Commercial Lender pursuant to Clause 7.3(b) above: (a) that Lender shall promptly notify the Agent upon becoming aware of that event; (b) the Agent shall promptly notify the Borrower (specifying the obligations the performance of which is thereby rendered unlawful and the law giving rise to the same and/or the Commercial Lenders financial status) upon receipt of notification in accordance with litra a) above; (c) upon the Agent notifying the Borrower, the Commitment of that Lender will be immediately reduced to zero and cancelled; and (d) the Borrower shall repay that Lender’s participation in the Loans and the Commercial Lenders’ Guarantee on the last day of the Interest Period occurring after the Agent has notified the Borrower or, if earlier, the date specified by the Lender in the notice delivered to the Agent (being no earlier than the last day of any applicable grace period permitted by law).
Appears in 7 contracts
Samples: Senior Secured Credit Facility Agreement, Senior Secured Credit Facility Agreement, Senior Secured Credit Facility Agreement
