Event of Illegality definition

Event of Illegality means, in connection with the assumption by any successor to the Company or the Parent of the Company’s or the Parent’s obligations under this Agreement or the Parent Guarantee, as the case may be, pursuant to a merger, consolidation, etc., a determination, in good faith, after consultation with counsel, by any holder of Notes that at the time of such assumption and by virtue thereof the continued maintenance of such holder’s interest in its Notes has been made unlawful by any U.S. law or governmental rule, regulation or order applicable to such holder.
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Event of Illegality has the meaning given to it in Clause 6.3 (Prepayment in the Event of Illegality);
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Event of Illegality means that due to the adoption of, or any changes in, any applicable treaty, law, rule or regulation after the Effective Date or due to the promulgation of, or any change in, the interpretation by any court, tribunal or regulatory authority with competent jurisdiction of any applicable treaty, law, rule or regulation after the Effective Date, it becomes unlawful for the Lender to receive a payment in respect of this Agreement or any Note or to maintain the Loan.
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Examples of Event of Illegality in a sentence

  • Early Redemption Amount (upon redemption following an Event of Illegality)( Condition 7(b) or 7(f) )Per Calculation Amount, an amount in GBP calculated by the Calculation Agent on the same basis as the Final Redemption Amount except that the definition of Share Valuefinal shall be the Preference Share Value on the day falling 2 (two) Business Days before the due date for early redemption of the Notes.

  • Redemption or Cancellation of the Notes (as applicable) in the Event of Illegality or Impracticability If the Issuer determines that the performance of its obligations under the Notes has become illegal or impracticable in whole or in part for any reason, the Issuer may redeem the Notes by paying to each Noteholder the aggregate fair market value of such Notes less the cost to the Swap Counterparty and/or its Affiliates of unwinding any underlying related hedging arrangements.

  • If the Loan is to be prepaid by the Borrower pursuant to any of the provisions of Clause 5.2 (Prepayment in the Event of Taxes or increased costs), Clause 5.3 (Prepayment in the Event of Illegality) or Clause 5.4 (Prepayment upon a Put Event), the Borrower shall, simultaneously with such prepayment, pay to the Lender accrued interest thereon to the date of actual payment and all other sums payable by the Borrower pursuant to this Agreement with respect to the prepaid amount.

  • Paying rents and service chargesYou must pay your rent every Monday in advance.

  • Termination of Securities in the Event of Illegality or Impracticability If the Issuer determines that the performance of its obligations under the Securities has become illegal or impracticable in whole or in part for any reason, the Issuer may cancel, in the case of Warrants, or redeem, in the case of Certificates, the Securities by paying to each Holder the fair market value of such Securities less the cost to the Issuer and/or its Affiliates of unwinding any underlying related hedging arrangements.

  • The board appropri- ately applied a preponderance of the evidence standard in evaluating the evidence.

  • By the addition of the words ", except in the case of Italian Listed Securities," after the words "Securities less" in the fourth line of the section entitled "Termination of Securities in the Event of Illegality or Impracticability" on page 103 of the Base Prospectus; and 2.

  • If it becomes, or to the knowledge of any Lender is to become, unlawful in any jurisdiction for a Lender to perform any of its obligations as contemplated by this Agreement or a Finance Document or to fund or maintain its share in one or more of the Loans (the Event of Illegality), that Lender shall notify the Facility Agent and the Borrower.

Related to Event of Illegality

  • Illegality has the meaning specified in Section 5(b).

  • Illegality Event means that:

  • Indenture Event of Default means an "Event of Default" as defined in the Indenture.

  • Servicer Event of Default wherever used herein, means any one of the following events:

  • Termination Event means an Illegality, a Tax Event or a Tax Event Upon Merger or, if specified to be applicable, a Credit Event Upon Merger or an Additional Termination Event.

  • Potential Event of Default means any event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default.

  • Company Event of Default bears the meaning ascribed thereto in Section 13.1; “Company Notice of Default” bears the meaning ascribed thereto in Section 13.2;

  • Material Event of Default means any Event of Default arising under Section 10.01(a), 10.01(b) (solely with respect to a default related to Section 8.01, 8.20 or 9.13), 10.01(f), 10.01(i), 10.01(j), 10.01(n) or 10.01(o).

  • Event of Insolvency means, for any Person:

  • Loan Event of Default An “Event of Default” as defined in the Loan Agreement.

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.

  • Debenture Event of Default means an "Event of Default" as defined in the Indenture.

  • Owner Event of Default has the meaning specified in Section 16.2.

  • Guarantee Event of Default means a default by the Guarantor on any of its payment or other obligations under this Guarantee.

  • Specified Event of Default means any Event of Default under Section 8.01(a), (f) or (g).

  • Guarantor Event of Default means the occurrence of any “Event of Default” under and as defined in the Performance Guaranty.

  • PTC Event of Default means, with respect to each Trust Agreement, the failure to pay within 10 Business Days after the due date thereof: (i) the outstanding Pool Balance of the applicable Class of Certificates on the Final Legal Distribution Date for such Class or (ii) interest due on such Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or a withdrawal from the Cash Collateral Account relating to a Liquidity Facility for such Class, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee entitled thereto).

  • Event of Default wherever used herein, means any one of the following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body):

  • Unmatured Event of Default means any event which, with the giving of notice, the passage of time or both, would constitute an Event of Default.

  • Collateral Tax Event means at any time, as a result of the introduction of a new, or any change in, any home jurisdiction or foreign tax statute, treaty, regulation, rule, ruling, practice, procedure or judicial decision or interpretation (whether proposed, temporary or final), interest payments due from the Obligors of any Collateral Debt Obligations in relation to any Due Period becoming properly subject to the imposition of home jurisdiction or foreign withholding tax (other than where such withholding tax is compensated for by a “gross-up” provision in the terms of the Collateral Debt Obligation or such requirement to withhold is eliminated pursuant to a double taxation treaty so that the Issuer as holder thereof is held completely harmless from the full amount of such withholding tax on an after-tax basis) so that the aggregate amount of such withholding tax on all Collateral Debt Obligations in relation to such Due Period is equal to or in excess of 6% of the aggregate interest payments due (for the avoidance of doubt, excluding any additional interest arising as a result of the operation of any gross-up provision) on all Collateral Debt Obligations in relation to such Due Period.

  • Master Servicer Event of Default wherever used herein, means any one of the following events:

  • Declaration Event of Default means an “Event of Default” as defined in the Declaration.

  • Bankruptcy Event of Default means any Event of Default under Section 8.01(f) of the Credit Agreement.

  • Circumstance means an incident, fact, occurrence, matter, act or omission that may give rise to a Claim in the context of civil liability;

  • Event of Noncompliance means any one of the following events: