Common use of Illegality and Impossibility Clause in Contracts

Illegality and Impossibility. Without limiting the generality of the Investor’s rights set out elsewhere in this Agreement, if in the reasonable opinion of the Investor, at any time there exists a law which , or an official or reasonable interpretation of which, makes it , or may make it illegal or impossible in practice of the Investor to undertake any of the Advances, or render any of the contemplated Advances unenforceable, void or voidable, the Investor may, by giving a notice to the Company suspend or cancel some or all of its obligations under this Agreement, or terminate this Agreement.

Appears in 14 contracts

Samples: Investment Agreement (Axxess Pharma Inc.), Investment Agreement (North American Oil & Gas Corp.), And Restsated Investment Agreement (iHookup Social, Inc.)

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Illegality and Impossibility. Without limiting the generality of the Investor’s rights set out elsewhere in this Agreement, if in the reasonable opinion of the Investor, at any time there exists a law which , or an official or reasonable interpretation of which, makes it it, or may make it illegal or impossible in practice of the Investor to undertake any of the Advances, or render any of the contemplated Advances unenforceable, void or voidable, the Investor may, by giving a notice to the Company suspend or cancel some or all of its obligations under this Agreement, or terminate this Agreement.

Appears in 5 contracts

Samples: Reserve Equity Financing Agreement (Xun Energy, Inc.), Reserve Equity Financing Agreement (Xun Energy, Inc.), Reserve Equity Financing Agreement (Xun Energy, Inc.)

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Illegality and Impossibility. (a) Without limiting the generality of the Investor’s rights set out elsewhere in this Agreement, Agreement in connection with the Events of Default if in the reasonable opinion of the Investor, at any time there exists a law which Law which, or an official or reasonable interpretation of which, makes it it, or may make it it, illegal or impossible in practice of for the Investor to undertake any of the AdvancesContemplated Transactions, or render any of the contemplated Advances Contemplated Transactions unenforceable, void or voidable, the Investor may, by giving a notice to the Company Company, suspend or cancel some or all of its obligations under this Agreement, or terminate this Agreement, as indicated in such notice.

Appears in 2 contracts

Samples: Metal Storm LTD /Adr/, Metal Storm LTD /Adr/

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