Common use of Reformation of Agreement Clause in Contracts

Reformation of Agreement. If any of the covenants contained in Section 8.7, or any portion thereof, is found by a court of competent jurisdiction to be invalid or unenforceable as against public policy or for any other reason, such court shall exercise its discretion to reform such covenant to the end that each Seller shall be subject to nondisclosure, noncompetition, noninterference or other covenants, as applicable, that are reasonable under the circumstances and are enforceable by Buyer. In any event, if any provision of Section 8.7 is found unenforceable for any reason, such provision shall remain in force and effect to the maximum extent allowable and all non-affected provisions shall remain fully valid and enforceable.

Appears in 3 contracts

Samples: Share Purchase Agreement, Membership Interest and Asset Purchase Agreement (CRAWFORD UNITED Corp), Share Purchase Agreement (Hickok Inc)

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Reformation of Agreement. If any of the covenants contained in this Section 8.77.2, or any portion thereof, is found by a court of competent jurisdiction to be invalid or unenforceable as against public policy or for any other reason, such court shall exercise its discretion to reform such covenant to the end that each Seller and the Key Stockholders shall be subject to nondisclosure, noncompetition, noninterference noninterference, or other covenants, as applicable, covenants that are reasonable under the circumstances and are enforceable by Buyer. In any event, if any provision of Section 8.7 7.2 is found unenforceable for any reason, such provision shall remain in force and effect to the maximum extent allowable and all non-affected provisions shall remain fully valid and enforceable.

Appears in 3 contracts

Samples: Asset Purchase Agreement (Reviv3 Procare Co), Asset Purchase Agreement (Reviv3 Procare Co), Asset Purchase Agreement (Peerless Systems Corp)

Reformation of Agreement. If any of the covenants contained in Section 8.78.6, or any portion thereof, is found by a court of competent jurisdiction to be invalid or unenforceable as against public policy or for any other reason, such court shall exercise its discretion to reform such covenant to the end that each Seller shall be subject to nondisclosure, noncompetition, noninterference or other covenants, as applicable, that are reasonable under the circumstances and are enforceable by Buyer. In any event, if any provision of Section 8.7 8.6 is found unenforceable for any reason, such provision shall remain in force and effect to the maximum extent allowable and all non-affected provisions shall remain fully valid and enforceable.

Appears in 1 contract

Samples: Asset Purchase Agreement (Hickok Inc)

Reformation of Agreement. If any of the covenants contained in Section 8.77.4, or any portion thereof, is found by a court of competent jurisdiction to be invalid or unenforceable as against public policy or for any other reason, such court shall exercise its discretion to reform such covenant to the end that each Seller Sellers and their Affiliates shall be subject to nondisclosure, noncompetition, noninterference or other covenants, as applicable, that are reasonable under the circumstances and are enforceable by Buyer. In any event, if any provision of Section 8.7 7.4 is found unenforceable for any reason, such provision shall remain in force and effect to the maximum extent allowable and all non-affected provisions shall remain fully valid and enforceable.

Appears in 1 contract

Samples: Asset Purchase Agreement (Spartan Motors Inc)

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Reformation of Agreement. If any of the covenants contained in this Section 8.78.4, or any portion thereof, is found by a court of competent jurisdiction to be invalid or unenforceable as against public policy or for any other reason, such court shall exercise its discretion to reform such covenant to the end that each Seller shall be subject to nondisclosure, noncompetition, noninterference noninterference, or other covenants, as applicable, covenants that are reasonable under the circumstances and are enforceable by BuyerBuyer (on behalf of itself and the Company). In any event, if any provision of Section 8.7 this Agreement is found unenforceable for any reason, such provision shall remain in force and effect to the maximum extent allowable and all non-affected provisions shall remain fully valid and enforceable.

Appears in 1 contract

Samples: Interests Purchase Agreement (Fmsa Holdings Inc)

Reformation of Agreement. If any of the covenants contained in Section 8.78.4, or any portion thereof, is found by a court of competent jurisdiction to be invalid or unenforceable as against public policy or for any other reason, such court shall exercise its discretion to reform such covenant to the end that each Seller Sellers shall be subject to nondisclosure, noncompetition, noninterference noninterference, or other covenants, as applicable, covenants that are reasonable under the circumstances and are enforceable by BuyerPurchasers. In any event, if any provision of Section 8.7 8.6 is found unenforceable for any reason, such provision shall remain in force and effect to the maximum extent allowable and all non-affected provisions shall remain fully valid and enforceable.

Appears in 1 contract

Samples: Stock Purchase Agreement (Manchester Inc)

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