Common use of Invalid Provisions; Severability Clause in Contracts

Invalid Provisions; Severability. If any provision of this Agreement or the other Loan Documents is held to be illegal, invalid, or unenforceable under present or future laws effective during the term hereof or thereof, such provision shall be fully severable, this Agreement and the other Loan Documents shall be construed and enforced as if such illegal, invalid, or unenforceable provision had never comprised a part thereof, and the remaining provisions hereof and thereof shall remain in full force and effect and shall not be affected by the illegal, invalid, or unenforceable provision or by its severance therefrom. Furthermore, in lieu of such illegal, invalid or unenforceable provision there shall be added automatically as a part of this Agreement or the other Loan Documents a provision as similar in terms to such illegal, invalid, or unenforceable provision as may be possible and be legal, valid and enforceable.

Appears in 19 contracts

Samples: Credit Agreement (Alpine Summit Energy Partners, Inc.), Credit Agreement (Alpine Summit Energy Partners, Inc.), Credit and Guaranty Agreement (Lilis Energy, Inc.)

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Invalid Provisions; Severability. If any provision of this Agreement or the other Loan Documents Papers is held to be illegal, invalid, or unenforceable under present or future laws effective during the term hereof or thereof, such provision shall be fully severable, this Agreement and the other Loan Documents Papers shall be construed and enforced as if such illegal, invalid, or unenforceable provision had never comprised a part thereof, and the remaining provisions hereof and thereof shall remain in full force and effect and shall not be affected by the illegal, invalid, or unenforceable provision or by its severance therefrom. Furthermore, in lieu of such illegal, invalid or unenforceable provision there shall be added automatically as a part of this Agreement or the other Loan Documents Papers a provision as similar in terms to such illegal, invalid, or unenforceable provision as may be possible and be legal, valid and enforceable.

Appears in 4 contracts

Samples: Credit Agreement (Toreador Royalty Corp), Credit Agreement (Toreador Royalty Corp), Credit Agreement (Trek Resources Inc)

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Invalid Provisions; Severability. If any provision of this Agreement or the other Loan Documents is held to be illegal, invalid, invalid or unenforceable under any present or future laws effective during Law, and if the term hereof rights or thereofobligations of any Party hereto under this Agreement will not be materially and adversely affected thereby, (a) such provision shall will be fully severable, (b) this Agreement and the other Loan Documents shall will be construed and enforced as if such illegal, invalid, invalid or unenforceable provision had never comprised a part thereofhereof, and (c) the remaining provisions hereof and thereof shall of this Agreement will remain in full force and effect and shall will not be affected by the illegal, invalid, invalid or unenforceable provision or by its severance therefrom. Furthermore, herefrom and (d) in lieu of such illegal, invalid or unenforceable provision provision, there shall will be added automatically as a part of this Agreement or the other Loan Documents a legal, valid and enforceable provision as similar in terms to such illegal, invalid, invalid or unenforceable provision as may be possible and be legal, valid and enforceablepossible.

Appears in 2 contracts

Samples: Share Transfer Agreement (Wave Sync Corp.), Share Transfer Agreement (Wave Sync Corp.)

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