Common use of Material Change in Law Clause in Contracts

Material Change in Law. If any regulatory requirement has the effect of canceling, changing or superseding any material term or provision of this agreement, then this agreement will be deemed modified in such a way as the parties mutually agree is consistent with the intent and purpose of this agreement and is necessary to comply with the regulatory requirement effective as of the date of notice by providing written notice to the other party.

Material Change in Law. If any regulatory requirement has the effect of canceling, changing or superseding orsuperseding any material term or provision of this agreement, then this agreement will be deemed bedeemed modified in such a way as the parties mutually agree is consistent with the intent and purpose andpurpose of this agreement and is necessary to comply with the regulatory requirement effective as effectiveas of the date of notice by providing written notice to the other party.