Interpretation; Illegality Clause Samples
The 'Interpretation; Illegality' clause defines how the contract should be interpreted and addresses what happens if any part of the agreement is found to be illegal or unenforceable. Typically, this clause clarifies that if a provision is deemed invalid due to illegality, the remainder of the contract remains effective, and the problematic provision may be modified to the extent necessary to make it lawful. Its core function is to ensure that the contract remains enforceable and operational even if certain terms are challenged or struck down due to legal issues, thereby preserving the parties' overall agreement and intentions.
Interpretation; Illegality. Any dispute regarding the interpretation of this Agreement shall be submitted by the Grantee or the Company forthwith to the Committee, which shall review such dispute at its next regular meeting. The resolution of such dispute by the Committee shall be final and binding on the Company and on the Grantee. In the event any provision hereunder shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of this Agreement, and this Agreement shall be construed and enforced as if the illegal or invalid provision had not been included.