Common use of Severability; Entire Agreement; Effectiveness Clause in Contracts

Severability; Entire Agreement; Effectiveness. Every provision of this Agreement, the Notes and the other Loan Documents is intended to be severable; if any term or provision of this Agreement, any Note or other Loan Document shall be invalid, illegal or unenforceable for any reason whatsoever, the validity, legality and enforceability of the remaining provisions hereof or thereof shall not in any way be affected or impaired thereby. The parties hereto shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions, the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. All exhibits and schedules to this Agreement shall be annexed hereto and shall be deemed to be part of this Agreement. This Agreement and the exhibits and schedules attached hereto and the other Loan Documents embody the entire agreement and understanding between Borrower and Lender and supersede all prior agreements and understandings relating to the subject matter hereof. This Agreement shall become effective upon receipt by Lender of counterparts hereof signed by each of the parties hereto (or, in the case of any party as to which an executed counterpart shall not have been received, receipt by Lender in form satisfactory to it of facsimile or other written confirmation from such party of execution of a counterpart hereof by such party).

Appears in 2 contracts

Samples: Subordinated Loan Agreement (Rurbanc Data Services Inc), Subordinated Loan Agreement (Rurbanc Data Services Inc)

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Severability; Entire Agreement; Effectiveness. Every provision of this Agreement, the Notes and the other Loan Facility Documents is intended to be severable; if any term or provision of this Agreement, any Note or other Loan Facility Document shall be invalid, illegal or unenforceable for any reason whatsoever, the validity, legality and enforceability of the remaining provisions hereof or thereof shall not in any way be affected or impaired thereby. The parties hereto shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions, the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. All exhibits and schedules to this Agreement shall be annexed hereto and shall be deemed to be part of this Agreement. This Agreement and the exhibits and schedules attached hereto and the other Loan Facility Documents embody the entire agreement and understanding between Borrower the Borrowers, the Agent and Lender the Banks and supersede all prior agreements and understandings relating to the subject matter hereof. This Agreement shall become effective upon receipt by Lender the Agent of counterparts hereof signed by each of the parties hereto (or, in the case of any party as to which an executed counterpart shall not have been received, receipt by Lender the Agent in form satisfactory to it of telegraphic, facsimile or other written confirmation from such party of execution of a counterpart hereof by such party).

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (MPW Industrial Services Group Inc)

Severability; Entire Agreement; Effectiveness. Every provision of this Agreement, the Notes Agreement and the other Loan Documents Note is intended to be severable; if any term or provision of this Agreement, any Agreement or the Note or other Loan Document shall be invalid, illegal or unenforceable for any reason whatsoever, the validity, legality and enforceability of the remaining provisions hereof or thereof shall not in any way be affected or impaired thereby. The parties hereto shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions, the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. All exhibits and schedules to this Agreement shall be annexed hereto and shall be deemed to be part of this Agreement. This Agreement and the exhibits and schedules attached hereto and the other Loan Documents Note embody the entire agreement and understanding between Borrower and Lender and supersede all prior agreements and understandings relating to the subject matter hereof. This Agreement shall become effective upon receipt by Lender of counterparts hereof signed by each of the parties hereto (or, in the case of any party as to which an executed counterpart shall not have been received, receipt by Lender in form satisfactory to it of facsimile or other written confirmation from such party of execution of a counterpart hereof by such party).

Appears in 1 contract

Samples: Loan Agreement (Rurbanc Data Services Inc)

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Severability; Entire Agreement; Effectiveness. Every provision of this Agreement, the Notes and the other Loan Documents is intended to be severable; if any term or provision of this Agreement, any Note or other Loan Document shall be invalid, illegal or unenforceable for any reason whatsoever, the validity, legality and enforceability of the remaining provisions hereof or thereof shall not in any way be affected or impaired thereby. The parties hereto shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions, the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. All exhibits and schedules to this Agreement shall be annexed hereto and shall be deemed to be part of this Agreement. This Agreement and the exhibits and schedules attached hereto and the other Loan Documents embody the entire agreement and understanding between Borrower and Lender and supersede all prior agreements and understandings relating to the subject matter hereof. This Agreement amends and restates the Existing Loan Agreement in its entirety, and, from and after the Effective Date, this Agreement shall be the “Subordinated Loan Agreement” as defined in the Escrow Agreement. Except for amendments or new Loan Documents specifically contemplated hereby, the Loan Documents entered into in connection with Existing Loan Agreement shall remain in full force and effect as written. This Agreement shall become effective upon receipt by Lender of counterparts hereof signed by each of the parties hereto (or, in the case of any party as to which an executed counterpart shall not have been received, receipt by Lender in form satisfactory to it of facsimile or other written confirmation from such party of execution of a counterpart hereof by such party).

Appears in 1 contract

Samples: Subordinated Loan Agreement (Rurbanc Data Services Inc)

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