Severability; Specific Performance. (a) Whenever possible, each provision of this Agreement shall be interpreted in such a manner as to be effective and valid under applicable law, but if any provision of this Agreement shall be deemed prohibited or invalid under such applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, and such prohibition or invalidity shall not invalidate the remainder of such provision or the other provisions of this Agreement. (b) Each of PSINet and IXC recognizes and affirms that in the event of breach by it or any controlled Affiliate of any of the provisions of Section 15.6, 15.7, or 15.8 money damages would be inadequate and the other party would have no adequate remedy at law. Accordingly, each party shall have the right, in addition to any other rights and remedies existing in its favor, to enforce its rights and the other parties' obligations under Section 15.6, 15.7 or 15.8 not only by an action or actions for damages, but also by an action or actions for specific performance, injunction and/or other equitable relief in order to enforce or prevent any violations (whether anticipatory, continuing or future) of the provisions thereof (including, in the case of Section 15.6, the extension of the 3-year period by a period equal to (i) the length of the violation of Section 15.6 plus (ii) the length of any court proceedings necessary to stop such violation). In the event of a breach or violation by a party of any of the provisions of Section 15.6, the running of the 3-year period (but not of the party's obligations under Section 15.6) shall be tolled during the continuance of any actual breach or violation.
Appears in 6 contracts
Samples: Iru and Stock Purchase Agreement (Ixc Communications Inc), Iru and Stock Purchase Agreement (Ixc Communications Inc), Iru and Stock Purchase Agreement (Ixc Communications Inc)
