Irregularity Clause Samples

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Irregularity. Any obligation of any Contributing Party to make investments by way of equity under the ESA shall be considered as being part of the NL Guaranteed Obligations, notwithstanding any lack of capacity, irregularity, defect or flaw in the creation or continuance of such obligation, whether or not the Collateral Agent was aware of the same, it being expressly understood that any such obligation which cannot be recovered from the Guarantor as guarantor hereunder by reason of any voidness of the principal obligation may be recovered from the Guarantor under the indemnity contained in Section 2.2 and shall be payable to the Collateral Agent upon demand therefor by the Collateral Agent in accordance with Sections 2.3 and 2.4.
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Irregularity. Any obligation of Nalcor to make investments by way of equity under the LTAESA shall be considered as being part of the LTA Guaranteed Obligations, notwithstanding any lack of capacity, irregularity, defect or flaw in the creation or continuance of such obligation, whether or not the Collateral Agent was aware of the same, it being expressly understood that any such obligation which cannot be recovered from the Guarantor as guarantor hereunder by reason of any voidness of the principal obligation may be recovered from the Guarantor under the indemnity contained in Section 2.2 and shall be payable to the Collateral Agent upon demand therefor by the Collateral Agent in accordance with Sections 2.3 and 2.4.
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Irregularity. Without prejudice to generality of the foregoing the Lender shall also be entitled to charge at its own discretion and the Borrower shall be liable to pay and hereby agrees to pay such enhanced rate of interest on the said Facility Account either on the entire outstanding or the portion thereof as the Lender may fix for any irregularity or any breach of the terms of sanction or hereof by the Borrower and for such period as the irregularity or breach continue or for such time as the Lender may decide it necessary regard being had to the nature of the irregularity or breach provided that the charging and payment of enhanced rate of interest shall be without prejudice to the other rights or remedies of the Lender either hereunder or otherwise or by law to proceed for such irregularity or breach against the Borrower.
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Irregularity. Any obligation of Nalcor to make investments by way of equity under the MFESA shall be considered as being part of the MF Guaranteed Obligations, notwithstanding any lack of capacity, irregularity, defect or flaw in the creation or continuance of such obligation, whether or not the Collateral Agent was aware of the same, it being expressly understood that any such obligation which cannot be recovered from the Guarantor as guarantor hereunder by reason of any voidness of the principal obligation may be recovered from the Guarantor under the indemnity contained in Section 2.2 and shall be payable to the Collateral Agent upon demand therefor by the Collateral Agent in accordance with Sections 2.3 and 2.4.
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Irregularity. Throughout the grievance and arbitration procedure no grievance shall be deemed invalid by reason of defect in form, technical irregularity or procedural error and the Board of Arbitration shall have the power to relieve against such conditions on such terms as may be just and reasonable.
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Related to Irregularity

  • Validity The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect.

  • Trustee to Give Notice of Default, But May Withhold in Certain Circumstances The Trustee shall give to the Securityholders of any series, as the names and addresses of such Holders appear on the registry books, notice by mail of all defaults known to the Trustee which have occurred with respect to such series, such notice to be transmitted within 90 days after the occurrence thereof, unless such defaults shall have been cured before the giving of such notice (the term “default” or “defaults” for the purposes of this section being hereby defined to mean any event or condition which is, or with notice or lapse of time or both would become, an Event of Default); provided that, except in the case of default in the payment of the principal of or interest on any of the Securities of such series, or in the payment of any sinking or purchase fund installment with respect to the Securities of such series, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, or a trust committee of directors or trustees and/or Responsible Officers of the Trustee in good faith determines that the withholding of such notice is in the interests of the Securityholders of such series.

  • Invalidity Any provision of this Agreement which may be determined by competent authority to be prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. In such case, the parties shall in good faith modify or substitute such provision consistent with the original intent of the parties.

  • Legality The execution, delivery and performance by Guarantor of this Guaranty and the consummation of the transactions contemplated hereunder do not, and will not, contravene or conflict with any law, statute or regulation whatsoever to which Guarantor is subject or constitute a default (or an event which with notice or lapse of time or both would constitute a default) under, or result in the breach of, any indenture, mortgage, deed of trust, charge, lien, or any contract, agreement or other instrument to which Guarantor is a party or which may be applicable to Guarantor. This Guaranty is a legal and binding obligation of Guarantor and is enforceable in accordance with its terms, except as limited by bankruptcy, insolvency or other laws of general application relating to the enforcement of creditors’ rights.

  • Unenforceability The fact that any collateral, security, security interest or lien contemplated or intended to be given, created or granted as security for the repayment of the Guaranteed Obligations, or any part thereof, shall not be properly perfected or created, or shall prove to be unenforceable or subordinate to any other security interest or lien, it being recognized and agreed by Guarantor that Guarantor is not entering into this Guaranty in reliance on, or in contemplation of the benefits of, the validity, enforceability, collectibility or value of any of the collateral for the Guaranteed Obligations.