Common use of PARTIAL INVALIDITY; WAIVER Clause in Contracts

PARTIAL INVALIDITY; WAIVER. 12.1 If at any time, one or more of the provisions hereof is or becomes invalid, illegal or unenforceable in any respect under the law of any jurisdiction, such provision shall as to such jurisdiction, be ineffective to the extent necessary without affecting or impairing the validity, legality and enforceability of the remaining provisions hereof or of such provisions in any other jurisdiction. The parties agree that such illegal, invalid or unenforceable provision shall be deemed replaced by such provision which comes as close as possible to the purpose of this Agreement. 12.2 No failure to exercise, nor any delay in exercising, on the part of the Security Agent or the Trustee, any right or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right or remedy prevent any further or other exercise thereof or the exercise of any other right or remedy. The rights and remedies provided hereunder are cumulative and not exclusive of any rights or remedies provided by law.

Appears in 2 contracts

Samples: Intercompany on Loans Subordination Agreement (Sanitec International Sa), Senior Notes Loan Subordination Agreement (Sanitec International Sa)

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PARTIAL INVALIDITY; WAIVER. 12.1 11.1 If at any time, any one or more of the provisions hereof is or becomes invalid, illegal or unenforceable in any respect under the law of any jurisdictionjurisdictions, such provision shall as to such jurisdiction, be ineffective to the extent necessary without affecting or impairing the validity, legality and enforceability of the remaining provisions hereof or of such provisions in any other jurisdiction. The parties agree that shall replace such illegal, invalid or unenforceable provision shall be deemed replaced by such with a provision which comes as close as possible to the purpose of this Agreement. 12.2 11.2 No failure to exercise, nor any delay in exercising, by the Security Trustee on the part behalf of the Security Agent or the TrusteeSecured Parties, any right or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right or remedy prevent any further or other exercise thereof or the exercise of any other right or remedy. The rights and remedies provided hereunder are cumulative and not exclusive of any rights or remedies provided under the Loan Agreement or by statutory law.

Appears in 1 contract

Samples: Accounts Pledge Agreement (Century Louisiana, Inc.)

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PARTIAL INVALIDITY; WAIVER. 12.1 11.1 If at any time, one or more of the provisions hereof is or becomes invalid, illegal or unenforceable in any respect under the law of any jurisdiction, such provision shall as to such jurisdiction, be ineffective to the extent necessary without affecting or impairing the validity, legality and enforceability of the remaining provisions hereof or of such provisions in any other jurisdiction. The parties agree that such illegal, invalid or unenforceable provision shall be deemed replaced by such provision which comes as close as possible to the purpose of this Agreement. 12.2 11.2 No failure to exercise, nor any delay in exercising, on the part of the Security Agent Trustee or the Trustee, any right or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right or remedy prevent any further or other exercise thereof or the exercise of any other right or remedy. The rights and remedies provided hereunder are cumulative and not exclusive of any rights or remedies provided by law.

Appears in 1 contract

Samples: High Yield Subordination Agreement (Messer Griesheim Holding Ag)

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