Common use of Illegality; Impracticability Clause in Contracts

Illegality; Impracticability. The occurrence of any event that makes it illegal or impracticable for any financial instrument that constitutes a Reference Asset underlying any Option to be traded, bought or sold on any exchange or in any other organized market, due to any force majeure event, any change in applicable laws or regulations, or any other event that would impact the ability to transfer or hedge the Reference Asset. If such event affects one or more but not all, instruments in a larger basket or index that constitutes the Reference Asset, the Purchaser may elect (i) to terminate the Option, or (ii) to eliminate the affected instrument(s) from the basket or index and substitute another selected by the Purchaser that is acceptable to Issuer. If the Purchaser elects to substitute another instrument or instruments, Issuer will adjust the Exercise Price and Special Expiration Price accordingly in a manner acceptable to Issuer and the Purchaser.

Illegality; Impracticability. The occurrence of any event that makes it illegal or impracticable for any financial instrument that constitutes a ca Reference Asset underlying any Option to be traded, bought or sold on any exchange or in any other organized market, due to any force majeure event, any change in applicable laws or regulations, or any other event that would impact the ability to transfer or hedge the Reference Asset. If such event affects one or more omore but not all, instruments in a larger basket or index that constitutes the Reference Asset, the Purchaser may elect (i) to terminate the Option, or (ii) to eliminate the affected instrument(s) from the basket or index and substitute another selected by sby the Purchaser that is acceptable to Issuer. If the Purchaser elects to substitute another instrument or instruments, Issuer will adjust the Exercise Price and Special Expiration Price accordingly in a manner acceptable to Issuer and the Purchaser.