Common use of Waiver of Compliance and Severability Clause in Contracts

Waiver of Compliance and Severability. Any waiver of any provision of this Agreement, or any delay by either party in the enforcement of any right hereunder, shall neither be construed as a continuing waiver nor create an expectation of non-enforcement of that or any other provision or right. In the event any one or more of the provisions of this Agreement shall for any reason be held to be invalid, illegal or unenforceable, the remaining provisions of this Agreement shall be unimpaired, and the Parties shall negotiate in good faith to substitute a provision of like economic intent and effect.