Common use of Modification of Covenant Clause in Contracts

Modification of Covenant. If a final judgment of a court or tribunal of competent jurisdiction determines that any term or provision contained in Section 5.5 is invalid or unenforceable, then the parties agree that the court or tribunal will have the power to reduce the scope, duration or geographic area of the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. This Section 5.6 will be enforceable as so modified after the expiration of the time within which the judgment may be appealed. This Section 5.6 is reasonable and necessary to protect and preserve Buyers’ legitimate business interests and the value of the Assets and to prevent any unfair advantage conferred on Sellers.

Modification of Covenant. If a final judgment of a court or tribunal of competent jurisdiction determines that any term or provision contained in Section 5.5 6.12(a) is invalid or unenforceable, then the parties agree that the court or tribunal will have the power to reduce the scope, duration or geographic area of the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. This Section 5.6 6.12 will be enforceable as so modified after the expiration of the time within which the judgment may be appealed. This Section 5.6 6.12 is reasonable and necessary to protect and preserve Buyers’ Buyer’s legitimate business interests and the value of the Assets and to prevent any unfair advantage conferred on SellersSeller.

Modification of Covenant. If a final judgment of a court or tribunal of competent jurisdiction determines that any term or provision contained in Section 5.5 5.1 or Section 5.2 is invalid or unenforceable, then the parties agree that the court or tribunal will have the power to reduce the scope, duration or geographic area of the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. This Section 5.6 Article V will be enforceable as so modified after the expiration of the time within which the judgment may be appealed. This Section 5.6 Seller acknowledges and agrees that this Article V is reasonable and necessary to protect and preserve Buyers’ Purchaser’s legitimate business interests and the value of the Assets Business and to prevent any unfair advantage conferred on SellersAssets.

Modification of Covenant. If a final judgment of a court or tribunal of competent jurisdiction determines that any term or provision contained in Section 5.5 5.07(a) is invalid or unenforceable, then the parties agree that the court or tribunal will have the power to reduce the scope, duration or geographic area of the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. This Section 5.6 5.07 will be enforceable as so modified after the expiration of the time within which the judgment may be appealed. This Section 5.6 5.07 is reasonable and necessary to protect and preserve Buyers’ Buyer’s legitimate business interests and the value of the Assets and to prevent any unfair advantage conferred on SellersSeller.

Modification of Covenant. If a final judgment of a court or tribunal of competent jurisdiction determines that any term or provision contained in Section 5.5 6.3 is invalid or unenforceable, then the parties agree that the court or tribunal will have the power to reduce the scope, duration or geographic area of the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. This Section 5.6 6.3 will be enforceable as so modified after the expiration of the time within which the judgment may be appealed. This The Restricted Parties each acknowledge this Section 5.6 6.3 is reasonable and necessary to protect and preserve Buyersthe Purchaser’s and its Affiliates’ legitimate business interests and the value of the Assets and to prevent any unfair advantage conferred on Sellersinterests.

Modification of Covenant. If a final judgment of a court or tribunal of competent jurisdiction determines that any term or provision contained in Section 5.5 10.6.1 through 10.6.2 is invalid or unenforceable, then the parties agree that the court or tribunal will have the power to reduce the scope, duration or geographic area of the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. This Section 5.6 10.6.3 will be enforceable as so modified after the expiration of the time within which the judgment may be appealed. This Section 5.6 10.6.3 is reasonable and necessary to protect and preserve Buyers’ Buyer's legitimate business interests and the value of the Assets and to prevent any unfair advantage conferred on SellersSeller.

Modification of Covenant. If a final judgment of a court or tribunal of competent jurisdiction determines that any term or provision contained in Section 5.5 6.3 is invalid or unenforceable, then the parties agree that the court or tribunal will have the power to reduce the scope, duration or geographic area of the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. This Section 5.6 6.3 will be enforceable as so modified after the expiration of the time within which the judgment may be appealed. This Sellers acknowledge this Section 5.6 6.3 is reasonable and necessary to protect and preserve Buyers’ the Purchaser’s and its Affiliates legitimate business interests interests. Sellers also acknowledge that the Business and the value of business engaged in by the Assets Purchaser and to prevent any unfair advantage conferred on Sellersits Affiliates has a worldwide scope.

Modification of Covenant. If a final judgment of a court or tribunal of competent jurisdiction determines that any term or provision contained in Section 5.5 9.1 through (c) is invalid or unenforceable, then the parties agree that the court or tribunal will have the power to reduce the scope, duration or geographic area of the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. This Section 5.6 9 will be enforceable as so modified after the expiration of the time within which the judgment may be appealed. This Section 5.6 9 is reasonable and necessary to protect and preserve Buyers’ Buyer’s legitimate business interests and the value of the Assets and to prevent any unfair advantage conferred on SellersSeller.

Modification of Covenant. If a final judgment of a court or tribunal of competent jurisdiction determines that any term or provision contained in Section 5.5 6.5 is invalid or unenforceable, then the parties agree that the court or tribunal will have the power to reduce the scope, duration or geographic area of the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. This Section 5.6 section will be enforceable as so modified after the expiration of the time within which the judgment may be appealed. This Each Principal Shareholder acknowledges this Section 5.6 6.5 is reasonable and necessary to protect and preserve Buyers’ Parent's and its Affiliates' legitimate business interests and the value of the Assets and to prevent any unfair advantage conferred on Sellersinterests.

Modification of Covenant. If a final judgment of a court or tribunal of competent jurisdiction determines that any term or provision contained in this Section 5.5 10.2 is invalid or unenforceable, then the parties agree that the court or tribunal will have the power to reduce the scope, duration or geographic area of the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. This Section 5.6 10.2 will be enforceable as so modified after the expiration of the time within which the judgment may be appealed. This Section 5.6 10.2 is reasonable and necessary to protect and preserve Buyers’ Buyer’s legitimate business interests and the value of the Assets and to prevent any unfair advantage conferred on Sellers.

Modification of Covenant. If a final judgment of a court or tribunal of competent jurisdiction determines that any term or provision contained in this Section 5.5 3.7 is invalid or unenforceable, then the parties agree that the court or tribunal will have the power to reduce the scope, duration or geographic area of the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. This Section 5.6 3.7 will be enforceable as so modified after the expiration of the time within which the judgment may be appealed. This Section 5.6 3.7 is reasonable and necessary to protect and preserve Buyers’ Purchaser’s legitimate business interests and the value of the Purchased Assets and to prevent any unfair advantage conferred on SellersSeller.

Modification of Covenant. If a final judgment of a court or tribunal of competent jurisdiction determines that any term or provision contained in Section 5.5 Sections 8.1 or 8.2 is invalid or unenforceable, then the parties agree that the court or tribunal will have the power to reduce the scope, duration or geographic area scope of the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. This Section 5.6 Sections 8.1 or 8.2 will be enforceable as so modified after the expiration of the time within which the judgment may be appealed. This Section 5.6 is Sections 8.1 and 8.2 are reasonable and necessary to protect and preserve Buyers’ the Purchaser’s legitimate business interests and the value of the Purchased Assets and to prevent any unfair advantage conferred on Sellersthe Seller.

Modification of Covenant. If a final judgment of a court or tribunal of competent jurisdiction determines that any term or provision contained in Section 5.5 10.5 is invalid or unenforceable, then the parties agree that the court or tribunal will have the power to reduce the scope, duration or geographic area of the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. This Section 5.6 10.5 will be enforceable as so modified after the expiration of the time within which the judgment may be appealed. This Section 5.6 10.5 is reasonable and necessary to protect and preserve Buyers’ Buyer’s legitimate business interests and the value of the Assets and to prevent any unfair advantage conferred on Sellersinterests.

Modification of Covenant. If a final judgment of a court or tribunal of competent jurisdiction determines that any term or provision contained in this Section 5.5 4.5 is invalid or unenforceable, then the parties agree that the court or tribunal will have the power to reduce the scope, duration or geographic area of the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. This Section 5.6 4.5 will be enforceable as so modified after the expiration of the time within which the judgment may be appealed. This Section 5.6 4.5 is reasonable and necessary to protect and preserve Buyers’ Buyer’s legitimate business interests and the value of the Purchased Assets and to prevent any unfair advantage conferred on SellersSeller.

Modification of Covenant. If a final judgment of a court or tribunal of competent jurisdiction determines that any term or provision contained in Section 5.5 6.17 is invalid or unenforceable, then the parties Parties agree that the court or tribunal will have the power to reduce the scope, duration or geographic area of the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. This Section 5.6 6.17 will be enforceable as so modified after the expiration of the time within which the judgment may be appealed. This Seller acknowledges this Section 5.6 6.17 is reasonable and necessary to protect and preserve BuyersBuyer’s and its Affiliates’ legitimate business interests and the value of the Assets and to prevent any unfair advantage conferred on Sellersinterests.

Modification of Covenant. If a final judgment of a court or tribunal of competent jurisdiction determines that any term or provision contained in this Section 5.5 3.4 is invalid or unenforceable, then the parties Parties agree that the court or tribunal will have the power to reduce the scope, duration or geographic area of the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. This Section 5.6 3.4 will be enforceable as so modified after the expiration of the time within which the judgment may be appealed. This Each Owner acknowledges this Section 5.6 3.4 is reasonable and necessary to protect and preserve BuyersBuyer’s and its Affiliates’ legitimate business interests and that such party will not challenge the value enforceability of the Assets and to prevent any unfair advantage conferred on Sellerssuch restrictions.

Modification of Covenant. If a final judgment of a court or tribunal of competent jurisdiction determines that any term or provision contained in this Section 5.5 ‎6.3 is invalid or unenforceable, then the parties agree that the court or tribunal will have the power to reduce the scope, duration or geographic area of the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. This Section 5.6 ‎6.3 will be enforceable as so modified after the expiration of the time within which the judgment may be appealed. This The Seller acknowledges this Section 5.6 ‎6.3 is reasonable and necessary to protect and preserve Buyers’ the Purchaser’s and its Affiliates legitimate business interests and the value of the Assets and to prevent any unfair advantage conferred on Sellersinterests.

Modification of Covenant. If a final judgment of a court or tribunal of competent jurisdiction determines that any term or provision contained in Section 5.5 6.5 is invalid or unenforceable, then the parties agree that the court or tribunal will have the power to reduce the scope, duration or geographic area of the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. This Section 5.6 section will be enforceable as so modified after the expiration of the time within which the judgment may be appealed. This Each of the Non-Compete Parties acknowledges that this Section 5.6 6.5 is reasonable and necessary to protect and preserve Buyers’ Parent's and its Affiliates' legitimate business interests and the value of the Assets and to prevent any unfair advantage conferred on Sellersinterests.

Modification of Covenant. If a final judgment of a court or tribunal of competent jurisdiction determines that any term or provision contained in Section 5.5 10.2(a) is invalid or unenforceable, then the parties agree that the court or tribunal will have the power to reduce the scope, duration or geographic area of the term or provision, to delete specific words or phrases or to replace any invalid or unenforceable term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. This Section 5.6 10.2 will be enforceable as so modified after the expiration of the time within which the judgment may be appealed. This Section 5.6 10.2 is reasonable and necessary to protect and preserve Buyers’ Buyer’s legitimate business interests and the value of the Assets Company and to prevent any unfair advantage conferred on SellersShareholder.