Common use of Section Severability Clause in Contracts

Section Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of law or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any of the parties hereto. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner to the end that the transactions contemplated hereby are fulfilled to the extent possible.

Appears in 1 contract

Sources: Asset Purchase Agreement (Newpark Resources Inc)

Section Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of law law, or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby herein is not affected in any manner materially adverse to any of the parties party hereto. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an a mutually acceptable manner to the end that the transactions contemplated hereby are fulfilled to the extent possiblemanner.

Appears in 1 contract

Sources: Asset Purchase Agreement (Opus360 Corp)