Common use of Construction and Effect Clause in Contracts

Construction and Effect. This Loan Agreement has been delivered at the state of [State of the Credit Union] and will be construed in accordance with the Uniform Commercial Code, Article 9 and other applicable federal laws and regulations and laws of [State of the Credit Union]. Whenever possible each provision of this note and agreement will be interpreted so as to be effective and valid under applicable law; however, if any provision is prohibited by or invalid under applicable law, such provision will be ineffective to the extent of such prohibition or invalidity without invalidating the remainder of the provision or the remaining provisions of the note and agreement. This Loan Agreement creates a continuing security interest in the Nonmember Share Account and:

Construction and Effect. This Loan Agreement has been delivered at the state of [State Enter state of the Credit Union] and will be construed in accordance with the Uniform Commercial Code, Article 9 and other applicable federal laws and regulations and laws of [State Enter state of the Credit Union]. Whenever possible each provision of this note and agreement will be interpreted so as to be effective and valid under applicable law; however, if any provision is prohibited by or invalid under applicable law, such provision will be ineffective to the extent of such prohibition or invalidity without invalidating the remainder of the provision or the remaining provisions of the note and agreement. This Loan Agreement creates a continuing security interest in the Nonmember Share Deposit Account and: