Common use of By Operation of Law Clause in Contracts

By Operation of Law. This SCIA is subject to such modifications as may be required by changes in federal or state law, or their implementing regulations. Any such required modification shall automatically be incorporated into and be part of this SCIA on the effective date of such change, as if fully set forth herein. Either party may terminate this SCIA by written notice to the other if said changes in federal or state law impact the ability of either Party to perform it obligations pursuant to the terms of this SCIA.

By Operation of Law. This SCIA is subject to such modifications as may be required by changes in federal or state law, or their implementing regulations. Any such required modification shall automatically be incorporated into and be part of this SCIA on the effective date of such change, as if fully set forth herein. Either party may terminate this SCIA by written notice to the other if said changes in federal or state law impact the ability of either Party to perform it its obligations pursuant to the terms of this SCIA.