Operation of Law on Corporation's Obligations Sample Clauses

Operation of Law on Corporation's Obligations. In the event that --------------------------------------------- any governmental entity promulgates any statute, rule, regulation, policy or order which restricts or prohibits the Corporation from making payments to the Executive under this Agreement, then the Corporation's obligations to make payments to the Executive (or his beneficiary) hereunder shall terminate or be restricted or suspended (consistent with such law or binding regulation, policy or order) for so long as such restriction or prohibition applies to the Corporation. Nothing in this Agreement is intended to require or shall be construed as requiring the Corporation to do or fail to do any act in violation of any applicable law or binding regulation, policy or order.
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Operation of Law on Corporation's Obligations. In the event that any governmental entity promulgates any statute, rule, regulation, policy or order which restricts or prohibits the Corporation from making payments or affects any operation of the Agreement to the Executive under this Agreement, then the Corporation's obligations to make payments to the Executive (or his beneficiary) hereunder shall terminate or be restricted or suspended (consistent with such law or binding regulation, policy or order) for so long as such restriction or prohibition applies to the Corporation. Nothing in this Agreement is intended to require or shall be construed as requiring the Corporation to do or fail to do any act in violation of any applicable law or binding regulation, policy or order. Provisions other than payment provisions which are found to be invalid or illegal will not be given effect and the Agreement will be enforced as if those provisions had never been inserted.
Sample 1

Related to Operation of Law on Corporation's Obligations

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