Inconvertibility Event definition

Inconvertibility Event means the occurrence, as determined by the Calculation Agent in its sole and absolute discretion, of any action, event or circumstance whatsoever which, from a legal or practical perspective:

Inconvertibility Event means the occurrence after the Trade Date of any event or the existence of any condition that has the effect of making it impossible, illegal or impracticable for, or has the effect of prohibiting, restricting or materially delaying the ability of, any Reference Investor to (i) convert the Currency into the Settlement Currency through customary legal channels; or (ii) to effect currency transactions on terms as favourable as those available to residents of the Reference Jurisdiction; or (iii) to freely and unconditionally transfer or repatriate any funds (in the Settlement Currency or the Currency) from accounts inside the Reference Jurisdiction to accounts outside the Reference Jurisdiction or between accounts inside the Reference Jurisdiction; or (iv) to receive the full value of any cash payment (when converted to the Settlement Currency) made under the Collateral due to the introduction after the Trade Date by any Governmental Authority of a new currency regime (including the introduction of a dual currency regime) or the imposition of currency exchange limitations.

Inconvertibility Event means any action, event or circumstance whatsoever which, from a legal or practical perspective:

Examples of Inconvertibility Event in a sentence

• For the avoidance of doubt, for the purposes of this Section 2.16, references to amounts “due” or “owing” on any date shall exclude amounts that fell due on an earlier date and cannot be paid by virtue of an Inconvertibility Event but in respect of which the Borrower has previously already paid the required amount into the relevant Escrow Account regardless of any intermediate rate variation.

• If, at any time, the Determination Agent determines that an Inconvertibility Event has occurred, it will inform the Issuer of such event.

• If the Issuer (or the Determination Agent, on its behalf) in good faith determines that a Currency Inconvertibility Event has occurred, the Issuer may at any time thereafter, in its sole discretion give notice to the holders stating whether the Issuer's obligations under the Notes will be suspended or whether the Notes shall be redeemed (any election to suspend shall not preclude the Issuer at any time thereafter giving notice to redeem the Notes), all as more fully set out in Condition 15 (Notices).

• If the Calculation Agent determines, that it is unlawful, impossible, or otherwise impracticable to redeem any outstanding Note by payment of the Cash Settlement Amount, including but not limited to as a result of an Inconvertibility Event, notwithstanding the above, the Issuer may redeem such Note by payment of the relevant amount in the Reference Obligation Currency, rounded down to the nearest sub-unit of the Reference Obligation Currency.

• If an Inconvertibility Event is continuing and any payment cannot be completed within 6 calendar months of the date on which the Inconvertibility Event first occurred, each Note shall be immediately deemed to have been redeemed in full with no further obligation for the Issuer following the date falling 6 months after the date on which the Inconvertibility Event first occurred.

More Definitions of Inconvertibility Event

Inconvertibility Event means any event beyond the control of CBA that makes it impossible for CBA to convert to U.S. Dollars through customary legal channels an amount of Australian Dollars sufficient to fulfil CBA's obligations under this Agreement and each Transaction.

Inconvertibility Event means circumstances in which a Relevant Authority is not generally permitting the conversion of local currency into Convertible Currencies or the remittance of Convertible Currencies in order to pay obligations denominated in Convertible Currencies.

Inconvertibility Event means the occurrence of any event or existence of any condition, including without limitation any such event or condition that occurs as a result of the enactment, promulgation, execution, ratification, interpretation or application of any change in or amendment to any law, rule or regulation by the Government of the Reference Obligation Jurisdiction, any political subdivision thereof or authority of any kind in the Reference Obligation Jurisdiction, whether or not such authority is acting as de facto or de jure government, that generally:

Inconvertibility Event means, with respect to any Securities, the occurrence of any event that makes it impossible, unlawful or commercially impracticable for the Issuer to

Inconvertibility Event means any action, event or circumstance whatsoever which, in the determination of the Calculation Agent, from a legal or practical perspective:

Inconvertibility Event means any action, event or circumstance whatsoever which from a legal or practical perspective during the term of the Securities:

Inconvertibility Event means the occurrence of any one or more of the following: