SEVERABILITY
Other Names: Savings Clause
Sample Clause Language:
If any provision of this Agreement shall be invalid, unenforceable, illegal or void in any jurisdiction, such invalidity, unenforceability, illegality or voidness shall not affect the validly or enforceability of the remainder of this Agreement in that jurisdiction or the validity or enforceability of any provision of this Agreement in any other jurisdiction. [In that case, the parties hereto shall use their good faith efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such provision.] It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining provisions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable.
Source: Summit Aviation Partners LLC (2018, July 20). Form Schedule 13D. Retrieved from SEC EDGAR website http://www.sec.gov/edgar.shtml
Description:
Severability clauses allow the rest of an agreement to remain in effect even if any portion of it is invalidated by a court. This is a standard version of the clause. If any term of the agreement ends up being unenforceable in a jurisdiction, only that term will be void and only in that jurisdiction. The rest of the contract will survive. It includes additional language requiring parties to work in good faith to modify the void term in a way to achieve its original intent.
Common Contracts with this Clause:
- All Commercial Agreements
What you'll see with Lawgood:
Five (5) Alternative Positions
- Standard
- No Material Effect Standard
- Fundamental Term Carve-Out
- Court to Modify
- Specific-Provision Severability
Draft better contracts with Lawgood.