Example ContractsClausesillegality; increased costs; deposits not availableVariants
Illegality; Increased Costs; Deposits Not Available
Illegality; Increased Costs; Deposits Not Available contract clause examples

In the event that any Applicable Law, any Change in Law, or compliance by any [[Organization C:Organization]] (for purposes of this [Section 3.8], the term "[[Organization C:Organization]]" shall include [[Organization B:Organization]] or any [[Organization C:Organization]] and any corporation or bank controlling [[Organization B:Organization]] or any [[Organization C:Organization]]) and the office or branch where [[Organization B:Organization]] or any [[Organization C:Organization]] (as so defined) makes or maintains any Eurodollar Rate Loans with any request or directive (whether or not having the force of law) from any central bank or other financial, monetary or other authority, shall:

In the event that [[Organization B:Organization]] or any [[Organization C:Organization]] shall have determined that any Applicable Law or guideline regarding capital adequacy, any Change in Law, or any change in the interpretation or administration thereof by any Governmental Body, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by [[Organization B:Organization]] or any [[Organization C:Organization]] (for purposes of this [Section 3.10], the term "[[Organization C:Organization]]" shall include [[Organization B:Organization]] or any [[Organization C:Organization]] and any corporation or bank controlling [[Organization B:Organization]] or any [[Organization C:Organization]]) and the office or branch where [[Organization B:Organization]] or any [[Organization C:Organization]] (as so defined) makes or maintains any Eurodollar Rate Loans with any request or directive regarding capital adequacy (whether or not having the force of law) of any such authority, central bank or comparable agency, has or would have the effect of reducing the rate of return on [[Organization B:Organization]]’s or any [[Organization C:Organization]]'s capital as a consequence of its obligations hereunder to a level below that which [[Organization B:Organization]] or such [[Organization C:Organization]] could have achieved but for such adoption, change or compliance (taking into consideration [[Organization B:Organization]]'s and each [[Organization C:Organization]]'s policies with respect to capital adequacy) by

Notwithstanding any other provision hereof, if any Applicable Law, or any change therein or in the interpretation or application thereof, including without limitation any Change in Law, shall make it unlawful for Lenders or any [[Organization C:Organization]] (for purposes of this [subsection (g)], the term "[[Organization C:Organization]]" shall include any [[Organization C:Organization]] and the office or branch where any [[Organization C:Organization]] or any Person controlling such [[Organization C:Organization]] makes or maintains any Eurodollar Rate Loans) to make or maintain its Eurodollar Rate Loans, the obligation of Lenders (or such affected [[Organization C:Organization]]) to make Eurodollar Rate Loans hereunder shall forthwith be cancelled and [[Organization A:Organization]] shall, if any affected Eurodollar Rate Loans are then outstanding, promptly upon request from [[Organization B:Organization]], either pay all such affected Eurodollar Rate Loans, or convert such affected Eurodollar Rate Loans into loans of another type. If any such payment or conversion of any Eurodollar Rate Loan is made on a day that is not the last day of the Interest Period applicable to such Eurodollar Rate Loan, [[Organization A:Organization]] shall pay [[Organization B:Organization]], upon [[Organization B:Organization]]'s request, such amount or amounts set forth in [clause (f) above]. A certificate as to any additional amounts payable pursuant to the foregoing sentence submitted by Lenders to Borrowing [[Organization B:Organization]] shall be conclusive absent manifest error.

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.