Country Risk Event definition

Country Risk Event means (a) issues relating to the financial infrastructure of a country, (b) issues relating to a country’s prevailing custody and settlement practices, (c) nationalization, expropriation or other governmental actions, (d) issues relating to a country’s regulation of the banking or securities industry, (e) currency controls, restrictions, devaluations, redenominations or fluctuations or (f) market conditions which affect the orderly execution of securities transactions or affect the value of securities.

Country Risk Event means an event which occurs as a result of Country Risk.

Country Risk Event means (a) the adoption of any law, rule or regulation or the action or failure to act by any authority (de jure or de facto) in LRI’s country which (i) changes the Liabilities as originally agreed, (ii) changes the ownership or control by LRI of its business or assets and/or the Bank’s ownership of its branch or subsidiary in the LRI’s country, or (iii) prevents or restricts the conversion into or transfer of the agreed currency; or (b) the occurrence of any force majeure or similar event which, directly or indirectly, prevents or restricts the payment or transfer of any funds made available by the Bank to its branch or subsidiary in LRI’s country in the agreed currency into an account designated by the Bank and freely available to the Bank.

Examples of Country Risk Event in a sentence

• The Custodian shall be liable for repayment to the Fund of cash credited to an Account and cash credited to the Fund’s or the Custodian’s cash account at a Subcustodian that the Custodian is not able to recover from the Subcustodian (other than as a result of a Country Risk Event).

• Notwithstanding the foregoing sentence, the Custodian shall be liable for repayment to the Fund of cash credited to the Fund’s, the Custodian’s or a Subcustodian’s account at a Depository or a Foreign Depository that the Custodian is not able to recover from the Depository or Foreign Depository (other than as a result of a Country Risk Event).

• Notwithstanding the foregoing sentence, the Custodian shall be liable for repayment to a Fund of cash credited to the Fund’s, the Custodian’s or a Subcustodian’s account at a Depository or a Foreign Depository that the Custodian is not able to recover from the Depository or Foreign Depository (other than to the extent relating to a Country Risk Event).

• The Custodian shall be liable for repayment to a Fund of cash credited to an Account and cash credited to the Fund’s or the Custodian’s cash account at a Subcustodian that the Custodian is not able to recover from the Subcustodian (other than to the extent relating to a Country Risk Event).

• Notwithstanding the foregoing sentence, the Custodian shall be liable for repayment to a Fund of cash credited to the Fund’s, the Custodian’s or a Subcustodian’s account at a Depository or a Foreign Depository that the Custodian is not able to recover from the Depository or Foreign Depository (other than as a result of a Country Risk Event).

More Definitions of Country Risk Event

Country Risk Event. Means (a) any law, action or failure to act by any Governmental Authority in any Borrower’s or Letter of Credit beneficiary’s country which has the effect of: (i) changing the obligations under the relevant Letter of Credit, the Credit Agreement or any of the other Loan Documents as originally agreed or otherwise creating any additional liability, cost or expense to the Issuing Bank, the Lenders or the Administrative Agent, (ii) changing the ownership or control by such Borrower or Letter of Credit beneficiary of its business, or (iii) preventing or restricting the conversion into or transfer of the applicable Alternative Currency; (b) force majeure; or (c) any similar event which, in relation to (a), (b) and (c), directly or indirectly, prevents or restricts the payment or transfer of any amounts owing under the relevant Letter of Credit in the applicable Alternative Currency into an account designated by the Administrative Agent or the Issuing Bank and freely available to the Administrative Agent or the Issuing Bank.

Country Risk Event any law, action or failure to act by any Governmental Authority in any country asserting jurisdiction over the Letter of Credit beneficiary which has the effect of:

Country Risk Event appearing in Section 1.01 of the Credit Agreement is hereby amended to delete the phrase “Effective Date” appearing therein and replace such phrase with “First Amendment Effective Date”.

Country Risk Event means (I) the adoption of any law, rule or regulation or the action or failure of action by any authority (de jure or de facto) in the Borrower’s country which (i) changes the obligations of the Borrower under the Term Loan Agreement, (ii) changes the ownership or control by the Borrower of its business or assets, or (iii) prevents or restricts the conversion into or transfer of the agreed currency; or (II) the occurrence of any force majeure or similar event which, directly or indirectly, prevents or restricts the payment or transfer in the agreed currency of any amounts owing under the Term Loan Agreement into an account designated by the Bank or the free availability of such payments to the Bank.

Country Risk Event means any nationalization, expropriation or other governmental actions; a country’s regulation of the banking or securities industry; exchange or currency exchange controls or restrictions, devaluations or fluctuations or currency redenomination; asset freezes, laws, rules, regulations or orders that at any time prohibit or impose burdens or costs on the transfer of Assets to, by or for the account of the WSIB or any applicable Fund; or market conditions which prevent the transfer of property or the execution of Securities transactions or affect the value of property.

Country Risk Event means: (i) any law, action or failure to act by any Governmental Authority in any Borrower’s or Letter of Credit beneficiary’s country which has the effect of: (a) changing the obligations under the relevant Letter of Credit, the Credit Agreement or any of the other Loan Documents as originally agreed in such a way as to create any additional liability, cost or expense to an Issuing Bank, the Lenders or the Administrative Agent, (b) changing the ownership or control by such Borrower or Letter of Credit beneficiary of its business, or (c) preventing or restricting the conversion into or transfer of the applicable Agreed Currency; (ii) force majeure; or (iii) any similar event, which, in relation to (i), (ii) and (iii), directly or indirectly, prevents or restricts the payment or transfer of any amounts owing under the relevant Letter of Credit in the applicable Agreed Currency into an account designated by the Administrative Agent or the relevant Issuing Bank and freely available to the Administrative Agent or such Issuing Bank.

Country Risk Event means: (i) any law, action or failure to act by any Governmental Authority in the Company's or Letter of Credit