Common use of Restrictive Modification Clause in Contracts

Restrictive Modification. If any of the rights or restrictions contained herein shall be deemed to be unenforceable by reason of the extent, duration or geographical scope of such rights or restrictions, the parties hereby agree that a court of competent jurisdiction shall reduce such extent, duration and geographical scope and enforce such right or restriction in its reduced form for all purposes in the manner contemplated hereby; provided that such extent, duration and geographical scope shall only be reduced to the extent necessary in order to make such right or restriction enforceable.

Appears in 3 contracts

Samples: Employment Agreement (Accuride Corp), Employment Agreement (Accuride Corp), Employment Agreement (Accuride Corp)

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Restrictive Modification. If any of the rights or restrictions contained herein shall be deemed to be unenforceable by reason of the extent, duration or geographical scope of such rights or restrictions, the parties hereby agree that a court of competent jurisdiction shall reduce such extent, duration and geographical or scope and enforce such right or restriction in its reduced form for all purposes in the manner contemplated hereby; provided that such extent, duration and geographical scope shall only be reduced to the extent necessary in order to make such right or restriction enforceable.

Appears in 2 contracts

Samples: Separation Agreement (Owens Illinois Inc /De/), Separation Agreement (Ligand Pharmaceuticals Inc)

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Restrictive Modification. If any of the rights or restrictions contained herein in this Section 5.8 shall be deemed to be unenforceable by reason of the extent, duration or geographical scope of such rights or restrictions, the parties hereby agree that a court of competent jurisdiction or arbitrator shall reduce such extent, duration and geographical scope and enforce such right or restriction in its reduced form for all purposes in the manner contemplated herebyform; provided provided, that such extent, duration and geographical scope shall only be reduced to the extent necessary in order to make such right or restriction enforceable.

Appears in 1 contract

Samples: Contribution Agreement (Institutional Financial Markets, Inc.)

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