Common use of Illegality of a Lender Clause in Contracts

Illegality of a Lender. If, at any time, it is or will become unlawful 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 any Utilisation: (a) that Lender shall promptly notify the Agent upon becoming aware of that event and in any event at a time which permits the Borrower to repay that Lender's participation on the date such repayment is required to be made; (b) upon the Agent notifying the Borrower, the Commitment of that Lender will be immediately cancelled; and (c) the Borrower shall on the last day of the Interest Period for each Loan 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) repay that Lender's participation in the Loans together with accrued interest on and all other amounts owing to that Lender under the Finance Documents.

Illegality of a Lender. If, at any time, it is or will become unlawful 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 any Utilisation: (a) that Lender shall promptly notify the Agent upon becoming aware of that event and in any event at a time which permits the Borrower Company to repay that Lender's participation on the date such repayment is required to be made; (b) upon the Agent notifying the BorrowerCompany, the Commitment of that Lender will be immediately cancelled; and (c) the Borrower shall Company shall, on the last day of the Interest Period for each Loan occurring after the Agent has notified the Borrower Company 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) ), repay that Lender's participation in the Loans together with accrued interest on and all other amounts owing to that Lender under the Finance Documents.

Illegality of a Lender. If, at any time, it is or will become unlawful 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 any Utilisation: (a) that Lender shall promptly notify the Agent upon becoming aware of that event and in any event at a time which permits the Borrower to repay that Lender's ’s participation on the date such repayment is required to be made; (b) upon the Agent notifying the Borrower, the Commitment of that Lender will be immediately cancelled; and (c) the Borrower shall on the last day of the Interest Period for each Loan 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) repay that Lender's ’s participation in the Loans together with accrued interest on and all other amounts owing to that Lender under the Finance Documents.

Illegality of a Lender. If, at any time, it is or will become unlawful 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 any Utilisation: (a) that Lender shall promptly notify the Agent upon becoming aware of that event and in any event at a time which permits the Borrower Company to repay that Lender's ’s participation on the date such repayment is required to be made; (b) upon the Agent notifying the BorrowerCompany, the Commitment of that Lender will be immediately cancelled; and (c) the Borrower shall Company shall, on the last day of the Interest Period for each Loan occurring after the Agent has notified the Borrower Company 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) ), repay that Lender's ’s participation in the Loans together with accrued interest on and all other amounts owing to that Lender under the Finance Documents.