Common use of Impairment by Government Regulation Clause in Contracts

Impairment by Government Regulation. In the event that the government of Australia or the United States, or any agency, ministry or subdivision thereof, adopts or interprets any measure, regulation or law, which is in conflict with the terms of this Agreement or which has the effect of impairing the object of this Agreement, either Party may propose negotiations for an appropriate modification of this Agreement. The Parties shall in good faith attempt to agree upon an appropriate modification giving effect as closely as possible to the original intent.

Impairment by Government Regulation. In the event that the government of Australia or Hong Kong or the United States, or any agency, ministry or subdivision thereof, has, adopts or interprets any measure, regulation or law, law which is in conflict with the terms of this Agreement or which has the effect of impairing the object of this Agreement, either Party may propose negotiations for an appropriate modification of this Agreement. The Parties shall in good faith attempt to agree upon an appropriate modification giving effect as closely as possible to the original intent.