Common use of Mandatory prepayment - sanctions Clause in Contracts

Mandatory prepayment - sanctions. 7.2.1 If any member of the Group (including, for this purpose, Smart Life): (a) is or becomes a Sanctioned Entity; (b) participates in any manner in any Sanctioned Transaction, each Obligor shall notify the Facility Agent promptly upon becoming aware of that event (unless that Obligor is aware that a notification has already been provided by another Obligor). 7.2.2 If any event contemplated by Clause 7.2.1 occurs, the following shall apply: (a) upon the Facility Agent receiving a notice from an Obligor under Clause 7.2.1 or a similar notice from any Finance Party, it shall notify the Lenders as soon as reasonably practicable; (b) a Lender shall not be obliged to fund any Utilisation; (c) if a Lender so requires, the Facility Agent shall cancel the Commitments of that Lender and declare the participation of that Lender in all outstanding Utilisations, together with all other Senior Facility Outstandings due to that Lender due and payable, whereupon the Commitments of that Lender will be cancelled immediately and all such outstanding amounts will become due and payable on the last day of the Interest Period for each Loan occurring after the Facility Agent has so notified the Borrower or, if earlier, the date specified by the Facility Agent in that notice (being no earlier than the last day of any applicable grace period permitted by law).

Mandatory prepayment - sanctions. 7.2.1 10.2.1 If any member of the Group (including, for this purpose, Smart Life): (a) is or becomes a Sanctioned Entity; (b) participates in any manner in any Sanctioned Transaction, each Obligor shall notify the Facility Agent promptly upon becoming aware of that event (unless that Obligor is aware that a notification has already been provided by another Obligor). 7.2.2 10.2.2 If any event contemplated by Clause 7.2.1 10.2.1 above occurs, the following shall apply: (a) upon the Facility Agent receiving a notice from an Obligor under Clause 7.2.1 10.2.1 above or a similar notice from any Finance Party, it shall notify the Lenders as soon as reasonably practicable; (b) a Lender shall not be obliged to fund any Utilisation; (c) if a Lender so requires, the Facility Agent shall cancel the Commitments of that Lender and declare the participation of that Lender in all outstanding Utilisations, together with all other Senior Facility Outstandings due to that Lender due and payable, whereupon the Commitments of that Lender will be cancelled immediately and all such outstanding amounts will become immediately due and payable in relation to the Bank Guarantee or become due and payable on the last day of the Interest Period for each Loan occurring after the Facility Agent has so notified the Borrower or, if earlier, the date specified by the Facility Agent in that notice (being no earlier than the last day of any applicable grace period permitted by law).

Mandatory prepayment - sanctions. 7.2.1 10.2.1 If any member of the Group (including, for this purpose, Smart Life): (a) is or becomes a Sanctioned Entity; (b) participates in any manner in any Sanctioned Transaction, each Obligor shall notify the Facility Agent promptly upon becoming aware of that event (unless that Obligor is aware that a notification has already been provided by another Obligor). 7.2.2 10.2.2 If any event contemplated by Clause 7.2.1 10.2.1 above occurs, the following shall apply: (a) upon the Facility Agent receiving a notice from an Obligor under Clause 7.2.1 10.2.1 above or a similar notice from any Finance Party, it shall notify the Lenders as soon as reasonably practicable; (b) a Lender shall not be obliged to fund any Utilisation; (c) if a Lender so requires, the Facility Agent shall cancel the Commitments of that Lender and declare the participation of that Lender in all outstanding Utilisations, together with all other Senior Facility Outstandings due to that Lender due and payable, whereupon the Commitments of that Lender will be cancelled immediately and all such outstanding amounts will become immediately due and payable in relation to a Bank Guarantee or become due and payable on the last day of the Interest Period for each Loan occurring after the Facility Agent has so notified the Borrower or, if earlier, the date specified by the Facility Agent in that notice (being no earlier than the last day of any applicable grace period permitted by law).

Mandatory prepayment - sanctions. 7.2.1 If any member of the Group (including, for this purpose, Smart Life): (a) is or becomes a Sanctioned Entity; (b) participates in any manner in any Sanctioned Transaction, each Obligor shall notify the Facility Agent promptly upon becoming aware of that event (unless that Obligor Xxxxxxx is aware that a notification has already been provided by another Obligor). 7.2.2 If any event contemplated by Clause 7.2.1 occurs, the following shall apply: (a) upon the Facility Agent receiving a notice from an Obligor under Clause 7.2.1 or a similar notice from any Finance Party, it shall notify the Lenders as soon as reasonably practicable; (b) a Lender shall not be obliged to fund any Utilisation; (c) if a Lender so requires, the Facility Agent shall cancel the Commitments of that Lender and declare the participation of that Lender in all outstanding Utilisations, together with all other Senior Facility Outstandings due to that Lender due and payable, whereupon the Commitments of that Lender will be cancelled immediately and all such outstanding amounts will become due and payable on the last day of the Interest Period for each Loan occurring after the Facility Agent has so notified the Borrower or, if earlier, the date specified by the Facility Agent in that notice (being no earlier than the last day of any applicable grace period permitted by law).