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

Examples of Exemption Event in a sentence

• The Operator B has not fulfilled its obligations as these are described in the present document (e.g. pending invoices that have been expired, bank guarantee not renewed etc) Should an Exemption Event from 1 to 7 above occurs, Wind Hellas performance measurement data (i.e. KPI/SLA statistics data) that had been affected by the Exemption Event, for the period of the event(s), shall be excluded from the KPI calculation for the Purposes of the related penalty calculations related to the affected KPI(s).

• The Parties must meet within 5 Working Days of such notice to discuss the potential Exemption Event.

• The cases referred to in paragraph 35.2 when the Contract may be varied shall not release the Project Company from the duty to perform under the Contract, except in the case when the performance is impossible due to an Exemption Event or a Compensation Event (for the length of duration thereof) and the cases when such performance would be in prejudice to imperative requirements of the legislation.

• After the notice under the preceding paragraph is given, when the Majority Lender or the Agent reasonably determines that the Exemption Event has been resolved, the Agent shall notify the Borrower and all Lenders that such Exemption Event has been resolved.

• In case of an Exemption Event the Project Company shall be exempted from liability under Article 45 of the Contract; the termination grounds provided in Article 37 of the Contract shall not apply.

More Definitions of Exemption Event

Exemption Event means any of the following events by which the Majority Lenders (or, if it is difficult to clarify the intention of the Majority Lenders, the Agent) reasonably determines that making of the Loans 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 yen, and (iv) any other event objectively considered as not attributable to the Lender.

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 any of the following: (A) the issuance of options or Ordinary Shares to employees, directors, and consultants pursuant to a stock option plan up to 1,627,236 shares or restricted stock plan approved by the Board of Directors and the approval of the Series A Director, the Series B Director, the Series C Director and Series D Director, (B) the sale of Shares in connection with a Qualified IPO, (C) the issuance of Ordinary Shares upon conversion of the Preferred Shares or other already outstanding convertible securities, (D) dividends or distributions on Preferred Shares, (E) the issuance of warrants to vendors, banks or equipment lessors in transactions approved by 80% of the members of the Board of Directors and the approval of the Series A Director , the Series B Director, the Series C Director and Series D Director, or (F) the issuance of warrants or Shares in connection with business combinations or corporate partnering agreements approved by 80% of the members of the Board of Directors and the approval of the Series A Director, the Series B Director, the Series C Director and Series D Director.

Exemption Event means the events specified under § 12 (1) (Suspension of obligations);