SEVERALITY. If a provision of this Pledge Agreement becomes illegal, invalid, or unenforceable in any jurisdiction, that shall not affect: (a) the validity or enforceability in that jurisdiction of any other provisions of this Pledge Agreement; or (b) the validity or enforceability in other jurisdictions of that or any other provision of this Pledge Agreement. If any provision of this Pledge Agreement is or becomes prohibited or unenforceable in any jurisdiction, that shall not affect the validity or enforceability of any other provisions hereof or affect the validity or enforceability of such provision in any other jurisdiction. The prohibited or unenforceable provisions shall be replaced by new provisions reflecting the initial intention of the contracting parties.
Appears in 4 contracts
Sources: Subordinated Pledge Agreement, Senior Pledge Agreement, Senior Pledge Agreement (Hexacomb CORP)