Illegality definition

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

Illegality provisions of Section 5(b)(i) will apply to Party A and will apply to Party B.

Illegality. (which generally relates to changes in law causing it to become unlawful for either party to perform its obligations under the Swap Agreement), · “Tax Event” (which generally relates to either party to the Swap Agreement receiving a payment under the Swap Agreement from which an amount has been deducted or withheld for or on account of taxes) and ·

Examples of Illegality in a sentence

• If any Lender notifies the Administrative Agent of a determination under Section 4.4.2 [Illegality; Increased Costs], the Borrower shall, subject to the Borrower’s indemnification Obligations under Section 5.9 [Indemnity], as to any Loan of the Lender to which a Term SOFR Rate Option applies, on the date specified in such notice either convert such Loan to the Base Rate Option otherwise available with respect to such Loan or prepay such Loan in accordance with Section 5.6 [Prepayments].

• Illegality 92 -i- DOCVARIABLE #DNDocID \* MERGEFORMAT 763630265 TABLE OF CONTENTS (continued) Page SECTION 2.22.

• Any prepayment of any part of the Loan other than a prepayment pursuant to Clause 7.1 (Illegality and Sanctions affecting a Lender) or Clause 7.5 (Right of repayment and cancellation in relation to a single Lender) shall be applied pro rata to each Lender's participation in that part of the Loan.

• Illegality.......................................................................................................

• In case of any prepayment of any part of the Loan other than a prepayment pursuant to Clause 7.1 (Illegality and Sanctions affecting a Lender) or Clause 7.6 (Right of repayment and cancellation in relation to a single Lender), shall be applied pro rata to each Lender’s participation in that part of the Loan.

More Definitions of Illegality

Illegality means the adoption of, or any change in, any applicable law after the Issue Date, or the promulgation of, or any change in, the interpretation by any court, tribunal or regulatory authority with competent jurisdiction of any applicable law after the Issue Date, as a result of which it becomes unlawful for the Issuer, the Company Manager, the Company Trading Adviser, the Company Commodity Broker, the Company Administrator, the Company, the Dealer, the Paying Agent, the Certificate Custodian, the Calculation Agent, the Swap Counterparty (if applicable), the Corporate Administrator, the Note Trustee or the Security Trustee (if applicable) to comply with their obligations under the Relevant Agreements;

Illegality and “Tax Event”), each as defined in the related Hedge Agreement where the related Hedge Counterparty is the “Defaulting Party” or sole “Affected Party” (each as defined in the related Hedge Agreement), but excluding any payments made pursuant to clause (8) or (11) above) pursuant to the terms of any Hedge Agreement then in effect;

Illegality provisions of Section 5(b)(i), the “Tax Event” provisions of Section 5(b)(ii) and the “Tax Event Upon Merger” provisions of Section 5(b)(iii) will not apply to Party B.

Illegality provisions of Section 5(b)(i), the “Tax Event” provisions of Section 5(b)(ii), the “Tax Event Upon Merger” provisions of Section 5(b)(iii) and the “Credit Event Upon Merger” provisions of Section 5(b)(iv) will apply to Party A but will not apply to Party B. Party A shall be the sole Affected Party (under Section 5(b)(i), (ii) and 5(b)(iv)) and the sole Burdened Party (under Section 5(b)(iii)) with respect to a Termination Event.

Illegality has the meaning given in Clause 16.5 of Appendix A (General Terms and Conditions);

Illegality. Applicable. Applicable. (ii) "Tax Event" Not Applicable. Not Applicable. (iii) "Tax Event Upon Merger" Not Applicable. Not Applicable. (iv) "Credit Event Upon Merger" Not Applicable. Not Applicable. (v) "

Illegality provisions of Section 5(b)(i) shall be expanded to include the obligation of a party to comply with any official directive, direction or similar order issued or given by any government agency or authority with competent jurisdiction (whether or not having the force of law) which prohibits its performance under this Agreement, and in that event such party will be the Affected Party for the purpose of that Section.