Common use of Event of Default and Illegality Clause in Contracts

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of Default.

Appears in 793 contracts

Sources: Interest Rate Swap Agreement (Carmax Auto Funding LLC), Interest Rate Swap Agreement (Carmax Auto Funding LLC), Isda Master Agreement (CNH Capital Receivables LLC)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality illegality and will not constitute an Event of Default.

Appears in 11 contracts

Sources: Isda Master Agreement (Sasco 2007-Bnc1), Isda Master Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2007-Oci), Isda Master Agreement (BNC Mortgage Loan Trust 2007-1)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event Event-of Default.

Appears in 10 contracts

Sources: Interest Rate Swap Agreement (Vw Credit Leasing LTD), Interest Rate Swap Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Interest Rate Swap Agreement (Vw Credit Leasing LTD)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as is an Illegality and will not constitute an Event of Default.

Appears in 4 contracts

Sources: Isda Master Agreement (Seacor Smit Inc), Isda Master Agreement (Conseco Inc), Isda Master Agreement (Magnetek Inc)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of Default.

Appears in 3 contracts

Sources: Master Agreement (National Steel Co), Isda Master Agreement (Gracechurch Receivables Trustee LTD), Master Agreement (Turbochef Technologies Inc)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegalityillegality, it will be treated as an Illegality and will not constitute an Event of Default.

Appears in 3 contracts

Sources: Isda Master Agreement (Toyota Motor Credit Corp), Master Agreement (American Honda Receivables Corp), Isda Master Agreement (Toyota Auto Lease Trust 1998 C)

Event of Default and Illegality. If an event or circumstance which would otherwise otherwise5 constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of Default.

Appears in 2 contracts

Sources: Isda Master Agreement (MACROshares Oil Up Tradeable Trust), Isda Master Agreement (MACRO Securities Depositor, LLC)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, Illegality it will be treated as an Illegality and will not constitute an Event of Default.

Appears in 2 contracts

Sources: Rego Trading Master Agreement, Interest Rate and Currency Exchange Agreement (Cogen Technologies Inc)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of Default.. ISDAÒ 1992

Appears in 1 contract

Sources: Master Agreement (GAIN Capital Holdings, Inc.)

Event of Default and Illegality. If an any event or circumstance which would otherwise constitute or give rise rise. to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of Default.

Appears in 1 contract

Sources: Merger Agreement (Springs Industries Inc)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give Give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of Default.

Appears in 1 contract

Sources: Isda Master Agreement (Cmgi Inc)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of Default...

Appears in 1 contract

Sources: Isda Master Agreement (Chartermac)

Event of Default and Illegality. If an event or circumstance which that would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of Default.

Appears in 1 contract

Sources: Master Agreement (Affiliate Investment, Inc.)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of Default.. --------------------------------------------------------------------------------

Appears in 1 contract

Sources: Isda Master Agreement (Dune Energy Inc)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of Default.. 5

Appears in 1 contract

Sources: Master Agreement (Franklin Credit Management Corp/De/)

Event of Default and Illegality. If In an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of Default.

Appears in 1 contract

Sources: Isda Master Agreement (Alleghany Corp /De)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegalityillegality, it will be treated as an Illegality an, illegality and will not constitute an Event of Default.

Appears in 1 contract

Sources: Term Loan Agreement (Outdoor Channel Holdings Inc)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of or Default.

Appears in 1 contract

Sources: Isda Master Agreement (Alpha Technologies Group Inc)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegalityillegality, it will be treated as an Illegality illegality and will not constitute an Event of Default.

Appears in 1 contract

Sources: Isda Master Agreement (New America High Income Fund Inc)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not not. constitute an Event of Default.

Appears in 1 contract

Sources: Isda Master Agreement (Packaging Dynamics Corp)

Event of Default and Illegality. If an event or of circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegalityillegality, it will be treated as an Illegality and will not constitute an Event of Default.

Appears in 1 contract

Sources: Isda Master Agreement (Itec Attractions Inc)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give orgive rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute notconstitute an Event of Default.

Appears in 1 contract

Sources: Isda Master Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-1)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of Default.. 7 ISDA 'r' 1992

Appears in 1 contract

Sources: Isda Master Agreement (NCT Funding Co LLC)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of Default.. 7 8

Appears in 1 contract

Sources: Isda Master Agreement (Aircraft Finance Trust)

Event of Default and Illegality. If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes an Illegality, it will be treated as an Illegality and will not constitute an Event of Default.. 7 ISDA 1992

Appears in 1 contract

Sources: International Prime Brokerage Agreement