Common use of 013. Severability Clause in Contracts

013. Severability. The provisions of this Agreement are severable. If the Directors determine, with the advice of counsel, that any provision hereof conflicts with the 1940 Act, the applicable provisions of the Code, or with other applicable laws and regulations, the conflicting provision shall be deemed never to have constituted a part of this Agreement; provided, however, that such determination shall not affect any of the remaining provisions of this Agreement or render invalid or improper any action taken or omitted prior to such determination. If any provision hereof shall be held invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall attach only to such provision only in such jurisdiction and shall not affect any other provision of this Agreement.