Blocking Regulation Sample Clauses
The Blocking Regulation clause is designed to address compliance with laws that prohibit parties from adhering to certain foreign legal requirements, particularly those related to extraterritorial sanctions. In practice, this clause typically prevents a party from being required to act in a way that would violate local blocking statutes, such as the EU Blocking Regulation, which forbids compliance with specific U.S. sanctions against third countries. Its core function is to protect parties from legal conflicts and penalties that could arise from being caught between contradictory legal obligations imposed by different jurisdictions.
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Blocking Regulation. In relation to any Lender that is subject to the regulations referred to below (each, a “Restricted Lender”), any representation, warranty or covenant set forth herein that refers to Sanctions (each, a “Specified Provision”) shall only apply for the benefit of such Restricted Lender to the extent that such Specified Provision would not result in a violation of, conflict with or liability under Council Regulation (EC) 2271/96 (or any law implementing such regulation in any member state of the European Union), as amended, or any similar blocking or anti-boycott law in Germany (including, in the case of Germany, section 7 foreign trade rules (Auβenwirtschaftsverordnung – AWV) in connection with section 4 paragraph 1 foreign trade law (Auβenwirtschaftsgesetz – AWG)) or in the United Kingdom (the “Mandatory Restrictions”). In the event of any consent or direction by Lenders in respect of any Specified Provision of which a Restricted Lender does not have the benefit due to a Mandatory Restriction, then, notwithstanding anything to the contrary in the definition of Required Lenders, for so long as such Restricted Lender shall be subject to a Mandatory Restriction, the Commitment and Loans of such Restricted Lender will be disregarded for the purpose of determining whether the requisite consent of the Lenders has been obtained or direction by the requisite Lenders has been made, it being agreed, however, that, unless, in connection with any such determination, the Administrative Agent shall have received written notice from any Lender stating that such Lender is a Restricted Lender with respect thereto, each Lender shall be presumed, in connection with such determination, not to be a Restricted Lender.
Blocking Regulation. (a) Subject to paragraph (c) below any provision of clauses 7.1 (Illegality) 18.33 (Sanctions), 21.2 (Use of proceeds), 21.4 (Compliance with laws) and 21.5 (Sanctions) shall not apply to or in favour of any Finance Party if and to the extent that it would result in a breach, by or in respect of that Finance Party, of any applicable Blocking Law.
(b) For the purposes of this Clause 1.6, Blocking Law means:
Blocking Regulation. No provision of paragraph 3(u) of this Agreement shall apply to any person to the extent that it results or would result in a violation by or in respect of that person of (i) any provision of Council Regulation (EC) No 2271/96 of 22 November 1996 (or any law or regulation implementing such Regulation in any member state of the European Union), (ii) Council Regulation (EC) No 2271/96 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 or (iii) any similar blocking or anti-boycott law, and paragraphs 5(b) and 5(e) shall be construed accordingly. Each of the representations in paragraph 3(u) of this Agreement shall not apply and shall not be sought by or made to Deutsche Bank Aktiengesellschaft if and to the extent that it is or would be unenforceable by reason of breach of, or would result in a violation of, or conflict with, with regard to Deutsche Bank Aktiengesellschaft, Section 7 of the German Foreign Trade Ordinance (Verordnung zur Durchführung des Außenwirtschaftsgesetzes (Außenwirtschaftsverordnung – AWV)).
Blocking Regulation. No provision of paragraph 3(u) of this Agreement shall apply to any person to the extent that it is or would be unenforceable by or in respect of that person by reason of breach of (i) any provision of Council Regulation (EC) No 2271/96 of 22 November 1996 (or any law or regulation implementing such Regulation in any member state of the European Union), (ii) Council Regulation (EC) No 2271/96 as it forms part of domestic law by virtue of the European Union (Withdrawal) A▇▇ ▇▇▇▇ or (iii) any similar blocking or anti-boycott law, and paragraphs 5(b) and 5(e) shall be construed accordingly.
Blocking Regulation. (a) Subject to paragraph (c) below any provision of clauses 7.1 (Illegality) 18.33 (Sanctions), 21.2 (Use of proceeds), 21.4 (Compliance with laws) and 21.5 (Sanctions) shall not apply to or in favour of any Finance Party if and to the extent that it would result in a breach, by or in respect of that Finance Party, of any applicable Blocking Law.
(b) For the purposes of this clause 1.6, Blocking Law means: (i) any provision of Council Regulation (EC) No 2271/1996 of 22 November 1996 (or any law or regulation implementing such Regulation in any member state of the European Union or the United Kingdom); or (ii) any similar blocking or anti-boycott law applicable to that Finance Party.
Blocking Regulation. Clauses 16.16 and 16.17 apply only if and to the extent that they do not result in a violation of the Council Regulation (EC) No. 2271/96 of 22 November 1996, or any other applicable anti-boycott or similar laws or regulations.
Blocking Regulation. Any provision of Section 3(cc) shall not apply for or to the benefit of G▇▇▇▇▇▇ S▇▇▇▇ Bank Europe SE and UniCredit Bank GmbH, Milan Branch if and to the extent it is illegal, invalid or unenforceable as a result of any applicable Blocking Regulation or German law (including section 7 of the Foreign Trade and Payments Ordinance, Außenwirtschaftsverordnung, as amended) and, in such case, the legality, validity and enforceability of Section 3(cc) shall not otherwise be affected.
Blocking Regulation. In relation to any Lender that is subject to the regulations referred to below (each, a “Restricted Lender”), any representation, warranty or covenant set forth herein that refers to Sanctions (each, a “Specified Provision”) shall only apply for the benefit of such Restricted Lender to the extent that such Specified Provision would not result in a violation of, conflict with or liability under Council Regulation (EC) 2271/96 (or any law implementing such regulation in any member state of the European Union) or any similar blocking or anti-boycott law in Germany (including, in the case of Germany, section 7 foreign trade rules (Auβenwirtschaftsverordnung – AWV) in connection with section 4 paragraph 1 foreign trade law (Auβenwirtschaftsgesetz – AWG)) or in the United Kingdom (the “Mandatory Restrictions”). In the event of any consent or direction by ▇▇▇▇▇▇▇ in respect of any Specified Provision of which a Restricted Lender does not have the benefit due to a Mandatory Restriction, then, notwithstanding anything to the contrary in the definition of Required Lenders, for so long as such Restricted Lender shall be subject to a Mandatory Restriction, the
Blocking Regulation. 53 ARTICLE II The Credits SECTION 2.01. Commitments.............................................................................. 54 SECTION 2.02.
Blocking Regulation. The following provisions shall only be sought and given for the benefit of a Placing Agent if and to the extent that doing so would be permissible for such Placing Agent pursuant to Council Regulation (EC) No 2271/96 of 22 November 1996 (the “EU Blocking Regulation”) (or any law or regulation implementing the EU Blocking Regulation in any member state of the European Union):