Common use of Illegality Prepayment and Cancellation Clause in Contracts

Illegality Prepayment and Cancellation. 7.1 Illegality If it becomes unlawful in any jurisdiction (other than by reason of Sanctions) for a Lender to perform any of its obligations as contemplated by this Agreement or to fund or maintain its participation in the Loan or it becomes unlawful for any Affiliate of a Lender for that Lender to do so:

Appears in 7 contracts

Samples: Loan Agreement (Scorpio Bulkers Inc.), Loan Agreement (Diana Containerships Inc.), Loan Agreement (Scorpio Tankers Inc.)

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Illegality Prepayment and Cancellation. 7.1 Illegality If If, in any applicable jurisdiction, it becomes unlawful in or contrary to any jurisdiction (other than by reason of Sanctions) Sanctions Laws for a any Lender to perform any of its obligations as contemplated by this Agreement or to fund or maintain its participation in the Loan or it becomes unlawful or contrary to any Sanctions Laws for any Affiliate of a Lender for that Lender to do so:: (a) that Lender shall promptly notify the Agent (if applicable, providing reasonable detail of the relevant Sanctions Laws, to the extent permitted by law and regulation) upon becoming aware of that event;

Appears in 1 contract

Samples: Supplemental Agreement (COOL Co LTD.)

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Illegality Prepayment and Cancellation. 7.1 Illegality If it becomes unlawful in any jurisdiction (other than by reason of SanctionsSanctions Laws) for a Lender to perform any of its obligations as contemplated by this Agreement or to fund or maintain its participation in the Loan or it becomes unlawful for any Affiliate of a Lender for that Lender to do so:

Appears in 1 contract

Samples: Safe Bulkers, Inc.

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