Common use of Mandatory prepayment - illegality Clause in Contracts

Mandatory prepayment - illegality. (a) A Lender must notify the Company promptly if it becomes aware that it is unlawful in any jurisdiction for that Lender to perform any of its obligations under a Finance Document or to fund or maintain its share in any Loan. (b) After notification under paragraph (a) above: (i) each Borrower must repay or prepay the share of that Lender in each Loan utilised by it on the date specified in paragraph (c) below; and (ii) the Commitments of that Lender will be immediately cancelled. (c) The date for repayment or prepayment of a Lender’s share in a Loan will be the earlier of: (i) the latest date allowed by law; and (ii) the last day of the current Term of that Loan.

Mandatory prepayment - illegality. (a) A Lender must notify the Company promptly if it becomes aware that it is unlawful in any jurisdiction for that Lender to perform any of its obligations under a Finance Document or to fund or maintain its share in any Loan. (b) After notification under paragraph (a) above: (i) each the Borrower must repay or prepay the share of that Lender in each Loan utilised by it on the date specified in paragraph (c) below; and (ii) the Commitments of that Lender will be immediately cancelled. (c) The date for repayment or prepayment of a Lender’s share in a Loan will be the earlier of: (i) the latest date allowed by law; and (ii) the last day of the current Term of that Loan.

Mandatory prepayment - illegality. (a) A Lender must notify the Company promptly if it becomes aware that it is unlawful in any jurisdiction for that Lender to perform any of its obligations under a Finance Document or to fund or maintain its share in any LoanCredit. (b) After notification under paragraph (a) above: (i) each Borrower must repay or prepay the share of that Lender in each Loan Credit utilised by it on the date specified in paragraph (c) below; and (ii) the Commitments Commitment of that Lender will be immediately cancelled. (c) The date for repayment or prepayment of a Lender’s share in a Loan Credit will be the earlier ofbe: (i) the latest date allowed by law; and (ii) the last day of the current Term Interest Period or Term, as applicable, for that Credit as at the date of that Loanreceipt by the Company of notice from the Lender under paragraph (a) above; or (ii) if earlier, the latest date allowed by the relevant law.

Mandatory prepayment - illegality. (a) A Lender must notify the Company Borrower promptly if it becomes aware that it is unlawful in any jurisdiction for that Lender to perform any of its obligations under a Finance Document or to fund or maintain its share in any Loan. (b) After notification under paragraph (a) above: (i) each the Borrower must repay or prepay the share of that Lender in each Loan utilised by made to it on the date specified in paragraph (c) below; and (ii) the Commitments Commitment of that Lender will be immediately cancelled. (c) The date for repayment or prepayment of a Lender’s share in a Loan will be the earlier ofbe: (i) the latest date allowed by law; and (ii) the last day of the current Term of that Loan; or (ii) if earlier, the date specified by the Lender in the notification under paragraph (a) above and which must not be earlier that the last day of any applicable grace period allowed by law.

Mandatory prepayment - illegality. (a) A Lender must notify the Company promptly if it becomes aware that it is unlawful in any jurisdiction for that Lender to perform any of its obligations under a Finance Document or to fund or maintain its share in any LoanCredit. (b) After notification under paragraph (a) above: (i) each Borrower must repay or prepay the share of that Lender in each Loan Credit utilised by it on the date specified in paragraph (c) below; and (ii) the Commitments Commitment of that Lender will be immediately cancelled. (c) The date for repayment or prepayment of a Lender’s share in a Loan Credit will be the earlier ofbe: (i) the latest date allowed by law; and (ii) the last day of the current Term of that LoanCredit; or (ii) if earlier, the last day of any applicable grace period allowed by law, or any other earlier date agreed between the Borrowers and such Lender.

Mandatory prepayment - illegality. (a) A Lender must notify the Company Borrower promptly if it becomes aware that it is unlawful in any jurisdiction for that Lender to perform any of its obligations under a Finance Document or to fund or maintain its share in any Loan. (b) After notification under paragraph (a) above: (i) each the Borrower must repay or prepay the share of that Lender in each Loan utilised by made to it on the date specified in paragraph (c) below; and (ii) the Commitments Commitment of that Lender will be immediately cancelled. (c) The date for repayment or prepayment of a Lender’s 's share in a Loan will be the earlier ofbe: (i) the Business Day following receipt by the Borrower of notice from the Lender under paragraph (a) above; or (ii) if later, the latest date allowed by the relevant law; and (ii) the last day of the current Term of that Loan.