Severance - GMSLA Provision

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2010 Global Master Securities Lending Agreement
A Jolly Contrarian owner’s manual

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GMSLA

Clause 18 in a Nutshell
Use at your own risk, campers!

18. Severance

If any part of the Agreement is declared unenforceable, the Parties will ignore it and carry on with the rest of the Agreement. Later, the Parties will amend the agreement as best they can to give effect to what they intended by the unenforceable part, only in away that is enforceable. view template

Full text of Clause 18


18. Severance
If any provision of this Agreement is declared by any judicial or other competent authority to be void or otherwise unenforceable, that provision shall be severed from the Agreement and the remaining provisions of this Agreement shall remain in full force and effect. The Agreement shall, however, thereafter be amended by the Parties in such reasonable manner so as to achieve as far as possible, without illegality, the intention of the Parties with respect to that severed provision.
view template

Related agreements and comparisons

Related agreements: Click here for the same clause in the 2018 Pledge GMSLA
Related agreements: Click here for the same clause in the 1995 OSLA
Comparison: Template:Gmsladiff 18
Comparison: Template:Osladiff 18

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Content and comparisons

Template:M comp disc GMSLA 18
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Summary

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See also

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References