Covenants Generally. Your covenants as outlined in the preceding paragraphs of this Annex are referred to as the “Covenants”. If any provision of any Covenant (in whole or in part) is found by any court of competent jurisdiction (or legally empowered agency) to be illegal, invalid or unenforceable for any reason, then the provision will be amended automatically to the minimum extent necessary to cure the illegality or invalidity and permit enforcement and the remainder of the Covenants will not be affected. In particular, if any provision of any Covenant is so found to violate law or be unenforceable because it applies for longer than a maximum permitted period or to greater than a maximum permitted area, it will be automatically amended to apply for the maximum permitted period and maximum permitted area.
Appears in 2 contracts
Sources: Restricted Share Unit Award Agreement (MF Global Ltd.), Share Option Award Agreement (MF Global Ltd.)