Common use of Illegality Prepayment and Cancellation Clause in Contracts

Illegality Prepayment and Cancellation. 7.1 Illegality If it becomes unlawful in any jurisdiction (other than by reason of Sanctions) 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 it becomes unlawful for any Affiliate of a Lender for that Lender to do so:

Appears in 3 contracts

Samples: Second Supplemental Agreement to a Secured Loan Agreement (Scorpio Tankers Inc.), Secured Loan Agreement (Scorpio Bulkers Inc.), Secured Loan Agreement (Scorpio Tankers Inc.)

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Illegality Prepayment and Cancellation. 7.1 Illegality If it becomes unlawful in any jurisdiction (other than by reason of Sanctions) 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 it becomes unlawful for any Affiliate of a Lender for that Lender to do so:

Appears in 1 contract

Samples: Secured Loan Agreement (Diana Containerships Inc.)

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Illegality Prepayment and Cancellation. 7.1 Illegality If If, in any applicable jurisdiction, it becomes unlawful in or contrary to any jurisdiction (other than by reason of Sanctions) Sanctions Laws for a any Lender to perform any of its obligations as contemplated by this Agreement or to fund or maintain its participation in the Loan or it becomes unlawful or contrary to any Sanctions Laws for any Affiliate of a Lender for that Lender to do so:: (a) that Lender shall promptly notify the Agent (if applicable, providing reasonable detail of the relevant Sanctions Laws, to the extent permitted by law and regulation) upon becoming aware of that event;

Appears in 1 contract

Samples: Senior Secured Sustainability Linked Amortising Term Loan Facility (COOL Co LTD.)

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