Common use of Limited Severability Clause in Contracts

Limited Severability. Landlord and Tenant each believes that the execution, delivery and performance of this Lease is in compliance with all Applicable Laws. However, in the unlikely event that any phrase, clause, sentence, paragraph, section, article or other portion of this Lease is declared void or unenforceable (or is construed as requiring Landlord to do any act in violation of any Applicable Laws, constitutional provision, law, regulation, or Payson Town Code), such provision shall be deemed severed from this Lease and this Lease shall otherwise remain in full force and effect; provided that this Lease shall retroactively be deemed reformed to the extent reasonably possible in such a manner so that the reformed lease (and any related agreements effective as of the same date) provide essentially the same rights and benefits (economic or otherwise) to the Parties as if such severance and reformation were not required. The Parties further agree, in such circumstances, to do all acts and to execute all amendments, instruments and consents necessary to accomplish and to give effect to the purposes of this Lease, as reformed.

Limited Severability. Landlord The Authority and Tenant Accelr8 each believes that the execution, delivery and performance of this Lease is Agreement are in compliance with all Applicable Laws. However, in the unlikely event that any phrase, clause, sentence, paragraph, section, article or other portion provision of this Lease Agreement is declared void or unenforceable (or is construed as requiring Landlord the Authority to do any act in violation of any Applicable Laws, constitutional provision, law, regulation, code or Payson Town Codecharter), such provision shall be deemed severed from this Lease Agreement, and this Lease Agreement shall otherwise remain in full force and effect; provided that this Lease Agreement shall retroactively be deemed reformed to the extent reasonably possible in such a manner so that the reformed lease agreement (and any related agreements effective as of the same date) provide essentially the same rights and benefits (economic or and otherwise) to the Parties as if such severance and reformation were not required. The Unless prohibited by Applicable Laws, the Parties further agree, in such circumstances, to do shall perform all acts and to execute all amendments, instruments and consents necessary to accomplish and to give effect to the purposes of this LeaseAgreement, as reformed.