Exemption Event definition

Exemption Event means (i) an outbreak of a natural disaster or war, (ii) an interruption or difficulty in the electrical, communications or various settlement systems, (iii) any event that occurs within the Tokyo Interbank Market that disables loans in yen, and (iv) any other event not attributable to the Lenders that results in the Majority Lenders (if it is difficult to clarify the intention of the Majority Lenders, the Agent) determining that it is impossible to make the Loan.

Exemption Event means (i) an outbreak of a natural disaster, war or terrorist attack, (ii) an interruption or difficulty in the electrical, communications or various settlement systems, and

Exemption Event means (i) the occurrence of a natural disaster or war, (ii) an interruption in or damage to electrical, communications or any settlement systems, (iii) any event that occurs within the Tokyo Interbank Market that disables loans in yen, and (iv) any other event not attributable to the Lenders A that results in the Majority Lenders A (if it is difficult for the Majority Lenders A to make a decision, the Agent) determining that it is impossible to make the Loan A.

Examples of Exemption Event in a sentence

• EXEMPTION OF LENDER 9.1 If an Exemption Event occurs with respect to the Lender, the Lender shall immediately notify the Borrower of such event in writing.

• The Corporation shall not be regarded as having failed to meet a Performance Requirement if the failure has resulted (whether directly or indirectly and whether in whole or in part) from the occurrence of an Exemption Event, provided that the Corporation shall not be entitled to rely upon an Exemption Event if such event occurred as a result of a breach of contract or negligence, or was caused or materially contributed to, by or on the part of the Corporation or persons directly under its control.

• After notice under Clause 12.2 is given, when the Majority Lenders A determine that the Exemption Event in relation to such notice has been resolved, the Agent shall immediately notify the Borrower and All Lenders A thereof.

• If the Agent becomes aware that an Exemption Event has occurred, the Agent shall immediately notify the Borrower and All Lenders A of such event in writing.

• If an Exemption Event occurs, the Borrower shall not be required to make payments to All Lenders A, with respect to the Commitment Fee A in relation to the Exemption Period.

More Definitions of Exemption Event

Exemption Event has the meaning given in Clause 1 of the Loan Agreements.

Exemption Event means the inability of any Yen Enabled Lender to fund a Yen Enabled Revolving Loan due to:

Exemption Event means any of the following events by which the Lender reasonably determines that making of a Loan is impossible: (i) an outbreak of a natural disaster, war or terrorist attack, (ii) an interruption or disturbance in electricity, communications or various settlement systems, (iii) any event occurring in the Tokyo interbank market which disables loans in JPY, and (iv) any other event similar to events described in items (i), (ii), and (iii) above of which the cause is not attributable to the Lender.

Exemption Event means (i) any event that occurs within the Tokyo Interbank Market, the London Interbank Market or any other interbank market concerned that generally disables banks’ loan transactions in yen or the U.S. dollar, or (ii) an outbreak of a natural disaster or war, an interruption or difficulty in the electrical, communications or various settlement systems, or any other event not attributable to the Lender that results in a situation where it is impossible for the Lender to make loans. Provided, however, that when any event described in (i) or (ii) is eliminated, it shall be deemed that the Exemption Event has been eliminated.

Exemption Event is defined in Clause 20.2(a);

Exemption Event means (i) an outbreak of a natural disaster, war or terrorist attack, (ii) an interruption or difficulty in electrical, communications or types of settlement systems, (iii) an occurrence of a situation where banks become unable to make loans in yen by usual methods in the Tokyo Interbank Market, or (iv) any other event not attributable to the Lenders that, in each

Exemption Event. (kashitsukefuno-jiyu) means (i) an outbreak of a natural disaster, war or terrorist attack, (ii) an interruption or difficulty in the electrical, communications or various settlement systems, (iii) any event that occurs within the Tokyo Interbank Market that disables loans in yen, and (iv) any other event which is equivalent to (i) through (iii) above and is not attributable to the Lenders that results in the Majority Lenders (if it is difficult to clarify the intention of the Majority Lenders, the Agent) reasonably determining that it is impossible for any or all of the Lenders to make the Loan.