Material Applicable Law Sample Clauses
The Material Applicable Law clause defines which jurisdiction's laws will govern the interpretation and enforcement of the contract. In practice, this clause specifies whether local, state, national, or international laws apply to the agreement, and may identify a specific country or state whose laws will be used in resolving disputes. By clearly establishing the governing legal framework, this clause ensures predictability and reduces uncertainty for both parties regarding their rights and obligations under the contract.
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Material Applicable Law. No provision of any material Applicable Law shall prohibit the New England Purchase, the Pacific Purchase or the Purchase; provided that this condition may not be invoked by a party (the “invoking party”) (i)(A) if the violation of such material Applicable Law may be wholly remedied or cured by the payment of money, and (B) the other party hereto agrees to pay such amount and indemnify the invoking party against any Damages caused by or arising out of any violation of such material Applicable Law pursuant to Article VII of this Agreement without regard to any limitations set forth in such Article or (ii) if the violation of such material Applicable Law would not adversely affect the invoking party or any of its Affiliates.