Final clause. 1. If one of the provisions of this contract should be or should become ineffective, the effectiveness of the remaining provisions is not affected thereby. The parties are obliged to replace the ineffective provision with an effective provision, which achieves the economic results of the ineffective provision to the utmost degree. The same applies if a gap in a contract should become evident. In this event, such a gap has to be closed by such a provision, which the parties would have selected, if they had taken this into consideration right from the start. 2. In order to become effective, modifications or amendments to this contract must be made in writing. This also applies to the amendment or the waiver of the written form requirement. In so far binding acknowledgements will also only become effective, if they have been confirmed by the company at least in writing.
Appears in 2 contracts
Sources: Managing Director Contract (Exploration Drilling International Inc.), Managing Director Contract (Exploration Drilling International Inc.)