Common use of Modification of Covenant Clause in Contracts

Modification of Covenant. If a final judgment of a court or tribunal of competent jurisdiction determines that any term or provision contained in Section 6.3 is invalid or unenforceable, then the parties agree that the court or tribunal will have the power to reduce the scope, duration or geographic area of the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. This Section 6.3 will be enforceable as so modified after the expiration of the time within which the judgment may be appealed. Sellers acknowledge this Section 6.3 is reasonable and necessary to protect and preserve the Purchaser’s and its Affiliates legitimate business interests. Sellers also acknowledge that the Business and the business engaged in by the Purchaser and its Affiliates has a worldwide scope.

Modification of Covenant. If a final judgment of a court or tribunal of competent jurisdiction determines that any term or provision contained in this Section 6.3 3.4 is invalid or unenforceable, then the parties Parties agree that the court or tribunal will have the power to reduce the scope, duration or geographic area of the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. This Section 6.3 3.4 will be enforceable as so modified after the expiration of the time within which the judgment may be appealed. Sellers acknowledge Each Owner acknowledges this Section 6.3 3.4 is reasonable and necessary to protect and preserve the PurchaserBuyer’s and its Affiliates Affiliates’ legitimate business interests. Sellers also acknowledge interests and that such party will not challenge the Business and the business engaged in by the Purchaser and its Affiliates has a worldwide scopeenforceability of such restrictions.

Modification of Covenant. If a final judgment of a court or tribunal of competent jurisdiction determines that any term or provision contained in Section 6.3 6.5 is invalid or unenforceable, then the parties agree that the court or tribunal will have the power to reduce the scope, duration or geographic area of the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. This Section 6.3 section will be enforceable as so modified after the expiration of the time within which the judgment may be appealed. Sellers acknowledge Each Principal Shareholder acknowledges this Section 6.3 6.5 is reasonable and necessary to protect and preserve the Purchaser’s Parent's and its Affiliates Affiliates' legitimate business interests. Sellers also acknowledge that the Business and the business engaged in by the Purchaser and its Affiliates has a worldwide scope.

Modification of Covenant. If a final judgment of a court or tribunal of competent jurisdiction determines that any term or provision contained in Section 6.3 Sections 8.1 or 8.2 is invalid or unenforceable, then the parties agree that the court or tribunal will have the power to reduce the scope, duration or geographic area scope of the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. This Section 6.3 Sections 8.1 or 8.2 will be enforceable as so modified after the expiration of the time within which the judgment may be appealed. Sellers acknowledge this Section 6.3 is Sections 8.1 and 8.2 are reasonable and necessary to protect and preserve the Purchaser’s and its Affiliates legitimate business interests. Sellers also acknowledge that the Business interests and the business engaged in by value of the Purchaser Purchased Assets and its Affiliates has a worldwide scopeto prevent any unfair advantage conferred on the Seller.

Modification of Covenant. If a final judgment of a court or tribunal of competent jurisdiction determines that any term or provision contained in Section 6.3 5.5 is invalid or unenforceable, then the parties agree that the court or tribunal will have the power to reduce the scope, duration or geographic area of the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. This Section 6.3 5.6 will be enforceable as so modified after the expiration of the time within which the judgment may be appealed. Sellers acknowledge this This Section 6.3 5.6 is reasonable and necessary to protect and preserve the Purchaser’s and its Affiliates Buyers’ legitimate business interests. Sellers also acknowledge that the Business interests and the business engaged in by value of the Purchaser Assets and its Affiliates has a worldwide scopeto prevent any unfair advantage conferred on Sellers.

Modification of Covenant. If a final judgment of a court or tribunal of competent jurisdiction determines that any term or provision contained in this Section 6.3 4.5 is invalid or unenforceable, then the parties agree that the court or tribunal will have the power to reduce the scope, duration or geographic area of the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. This Section 6.3 4.5 will be enforceable as so modified after the expiration of the time within which the judgment may be appealed. Sellers acknowledge this This Section 6.3 4.5 is reasonable and necessary to protect and preserve the PurchaserBuyer’s and its Affiliates legitimate business interests. Sellers also acknowledge that the Business interests and the business engaged in by value of the Purchaser Purchased Assets and its Affiliates has a worldwide scopeto prevent any unfair advantage conferred on Seller.

Modification of Covenant. If a final judgment of a court or tribunal of competent jurisdiction determines that any term or provision contained in Section 6.3 6.17 is invalid or unenforceable, then the parties Parties agree that the court or tribunal will have the power to reduce the scope, duration or geographic area of the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. This Section 6.3 6.17 will be enforceable as so modified after the expiration of the time within which the judgment may be appealed. Sellers acknowledge Seller acknowledges this Section 6.3 6.17 is reasonable and necessary to protect and preserve the PurchaserBuyer’s and its Affiliates Affiliates’ legitimate business interests. Sellers also acknowledge that the Business and the business engaged in by the Purchaser and its Affiliates has a worldwide scope.

Modification of Covenant. If a final judgment of a court or tribunal of competent jurisdiction determines that any term or provision contained in Section 6.3 6.5 is invalid or unenforceable, then the parties agree that the court or tribunal will have the power to reduce the scope, duration or geographic area of the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. This Section 6.3 section will be enforceable as so modified after the expiration of the time within which the judgment may be appealed. Sellers acknowledge Each of the Non-Compete Parties acknowledges that this Section 6.3 6.5 is reasonable and necessary to protect and preserve the Purchaser’s Parent's and its Affiliates Affiliates' legitimate business interests. Sellers also acknowledge that the Business and the business engaged in by the Purchaser and its Affiliates has a worldwide scope.

Modification of Covenant. If a final judgment of a court or tribunal of competent jurisdiction determines that any term or provision contained in Section 6.3 is invalid or unenforceable, then the parties agree that the court or tribunal will have the power to reduce the scope, duration or geographic area of the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. This Section 6.3 will be enforceable as so modified after the expiration of the time within which the judgment may be appealed. Sellers The Restricted Parties each acknowledge this Section 6.3 is reasonable and necessary to protect and preserve the Purchaser’s and its Affiliates Affiliates’ legitimate business interests. Sellers also acknowledge that the Business and the business engaged in by the Purchaser and its Affiliates has a worldwide scope.

Modification of Covenant. If a final judgment of a court or tribunal of competent jurisdiction determines that any term or provision contained in this Section 6.3 ‎6.3 is invalid or unenforceable, then the parties agree that the court or tribunal will have the power to reduce the scope, duration or geographic area of the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. This Section 6.3 ‎6.3 will be enforceable as so modified after the expiration of the time within which the judgment may be appealed. Sellers acknowledge The Seller acknowledges this Section 6.3 ‎6.3 is reasonable and necessary to protect and preserve the Purchaser’s and its Affiliates legitimate business interests. Sellers also acknowledge that the Business and the business engaged in by the Purchaser and its Affiliates has a worldwide scope.

Modification of Covenant. If a final judgment of a court or tribunal of competent jurisdiction determines that any term or provision contained in Section 6.3 10.5 is invalid or unenforceable, then the parties agree that the court or tribunal will have the power to reduce the scope, duration or geographic area of the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. This Section 6.3 10.5 will be enforceable as so modified after the expiration of the time within which the judgment may be appealed. Sellers acknowledge this This Section 6.3 10.5 is reasonable and necessary to protect and preserve the PurchaserBuyer’s and its Affiliates legitimate business interests. Sellers also acknowledge that the Business and the business engaged in by the Purchaser and its Affiliates has a worldwide scope.