Unenforceable Obligation Sample Clauses

The Unenforceable Obligation clause defines how the contract should be interpreted if any part of it is found to be invalid or unenforceable by a court or authority. Typically, this clause states that the remainder of the agreement will remain in effect, and only the problematic provision will be disregarded or modified to the extent necessary to make it enforceable. For example, if a specific restriction is deemed too broad, the clause may allow it to be narrowed rather than voiding the entire contract. This ensures that the contract as a whole remains functional and that the parties' intentions are preserved even if some terms cannot be legally enforced.
Unenforceable Obligation. Any material obligation of a Borrower in this Agreement or any of the other Credit Facility Documents ceases to be or is declared by a court of competent jurisdiction not to be a legally binding or enforceable obligation of such Borrower;
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Unenforceable Obligation. Any material obligation or other provision of either of the Borrowers or any Material Subsidiary in any of the Credit Facility Documents, any material obligation of the Trust in the Trust Postponement Agreement, or any material obligation of ▇▇▇▇ & ▇▇▇▇▇▇ US in the ▇▇▇▇ & Talbot US Postponement Agreement, terminates or ceases to be or is declared by a court of competent jurisdiction not to be a legally binding or enforceable obligation of such Borrower, Material Subsidiary, or ▇▇▇▇ & ▇▇▇▇▇▇ US, as the case may be;
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Unenforceable Obligation. Any material obligation or other provision of any Group Entity in this Agreement or in any of the other Credit Facility Documents terminates or ceases to be or is declared by a court of competent jurisdiction not to be a legally binding or enforceable obligation of such Group Entity;
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Unenforceable Obligation. Any material obligation or other provision of either of the Borrowers, any Material Subsidiary, ▇▇▇▇ & ▇▇▇▇▇▇ US, Pulp Sales, Finance One LP or Penn Timber in any of the Credit Facility Documents terminates or ceases to be or is declared by a court of competent jurisdiction not to be a legally binding or enforceable obligation thereof;
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Unenforceable Obligation. Any material obligation or other provision of either of the Borrowers, any Material Subsidiary, the Trust, ▇▇▇▇ & ▇▇▇▇▇▇ US, Finance LP, Finance One LP or Penn Timber in any of the Credit Facility Documents terminates or ceases to be or is declared by a court of competent jurisdiction not to be a legally binding or enforceable obligation of such Borrower, such Material Subsidiary, the Trust, ▇▇▇▇ & Talbot US, Finance LP, Finance One LP or Penn Timber, as the case may be;
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Unenforceable Obligation. Any material obligation or other provision of either of the Borrowers, any Material Subsidiary, the Trust, ▇▇▇▇ & Talbot US, Finance LP, Finance One LP or Penn Timber in any of the Credit Facility Documents terminates or ceases to be or is declared by a court of competent jurisdiction not to be a legally binding or enforceable obligation of such Borrower, such Material Subsidiary, the Trust, ▇▇▇▇ & ▇▇▇▇▇▇ US, Finance LP, Finance One LP or Penn Timber, as the case may be;” (o) Schedules 10, 11 and 12 attached hereto are added as new Schedules to the Credit Agreement.
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Related to Unenforceable Obligation

  • UNENFORCEABLE PROVISION In the event that any provision of this Agreement is unenforceable or held to be unenforceable, then the parties agree that all other provisions of this Agreement have force and effect and shall not be affected thereby.

  • Unenforceable Provisions If any provision of this Agreement is deemed unenforceable, the rest of the Agreement shall remain in effect and the Parties shall negotiate in good faith and seek to agree upon a substitute provision that will achieve the original intent of the Parties.

  • Loan Document Unenforceable Any of the Loan Documents shall cease to be legal, valid and binding agreements enforceable against the party executing the same or such party’s successors and assigns (as permitted under the Loan Documents) in accordance with the respective terms thereof or shall in any way be terminated (except in accordance with its terms) or become or be declared ineffective or inoperative or shall in any way be challenged or contested or cease to give or provide the respective Liens, security interests, rights, titles, interests, remedies, powers or privileges intended to be created thereby;

  • Unenforceability The fact that any collateral, security, security interest or lien contemplated or intended to be given, created or granted as security for the repayment of the Guaranteed Obligations, or any part thereof, shall not be properly perfected or created, or shall prove to be unenforceable or subordinate to any other security interest or lien, it being recognized and agreed by Guarantor that Guarantor is not entering into this Guaranty in reliance on, or in contemplation of the benefits of, the validity, enforceability, collectibility or value of any of the collateral for the Guaranteed Obligations.

  • Unenforceable Terms Any provision hereof prohibited by law or unenforceable under the law of any jurisdiction in which such provision is applicable shall as to such jurisdiction only be ineffective without affecting any other provision of this Agreement. To the full extent, however, that such applicable law may be waived to the end that this Agreement be deemed to be a valid and binding agreement enforceable in accordance with its terms, the Parties hereto hereby waive such applicable law knowingly and understanding the effect of such waiver.