Limitations under Applicable Law Clause Samples
The "Limitations under Applicable Law" clause defines that any restrictions, exclusions, or limitations stated in the agreement are subject to the boundaries set by relevant laws and regulations. In practice, this means that if a contractual limitation (such as a cap on liability or an exclusion of certain damages) is not permitted by the governing law, that limitation will be adjusted or disregarded to the extent required by law. This clause ensures that the contract remains enforceable and compliant, preventing parties from relying on provisions that would be invalid or unenforceable under applicable legal standards.
Limitations under Applicable Law. Notwithstanding anything herein or in a Stock Option Award Agreement or Restricted Share Award Agreement to the contrary, payment may not be made in any form that is unlawful, as determined by the Committee in its sole discretion.
Limitations under Applicable Law. The terms of this Article IV and Lender’s and/or Agent’s exercise of the terms thereof are and shall be limited by applicable law.
Limitations under Applicable Law. Notwithstanding anything to the contrary contained in this Agreement, Seller’s obligations hereunder shall be subject to limitations under applicable Law, including, without limitation, Sections 1113 and 1114 of the Bankruptcy Code.