A. By the Parties. Except as specifically provided in this Contract, modifications of this Contract shall not be effective unless agreed to in writing by both parties in an amendment to this Contract, properly executed and approved in accordance with applicable Colorado state laws, regulations and Fiscal Rules. B. By Operation of Law. This Contract is subject to such modifications as may be required by changes in Federal or Colorado state law, or their implementing regulations. Any such required modification automatically shall be incorporated into and be part of this Contract on the effective date of such change, as if fully set forth herein. SEVERABILITY Provided this Contract can be executed and performance of the obligations of the Parties accomplished within its intent, the provisions hereof are severable and any provision that is declared invalid or becomes inoperable for any reason shall not affect the validity of any other provision hereof, provided that the Parties can continue to perform their obligations under this Contract in accordance with its intent. SURVIVAL OF CERTAIN CONTRACT TERMS Notwithstanding anything herein to the contrary, provisions of this Contract requiring continued performance, compliance, or effect after termination hereof, shall survive such termination and shall be enforceable by the University if Contractor fails to perform or comply as required. TAXES The University is exempt from all federal excise taxes under IRC Chapter 32 (No. 84-730123K) and from all State and local government sales and use taxes under CRS Sec.Sec.39-26-101 and 201 et seq. Such exemptions apply when materials are purchased or services are rendered to benefit the University; provided however, that certain political subdivisions (e.g., City of Denver) may require payment of sales or use
A. By the Parties. Except as specifically provided in this Contract, modifications of this Contract shall not be effective unless agreed to in writing by both parties in an amendment to this Contract, properly executed and approved in accordance with applicable Colorado state laws, regulations and Fiscal Rules. B. By Operation of Law. This Contract is subject to such modifications as may be required by changes in Federal or Colorado state law, or their implementing regulations. Any such required modification automatically shall be incorporated into and be part of this Contract on the effective date of such change, as if fully set forth herein. SEVERABILITY Provided this Contract can be executed and performance of the obligations of the Parties accomplished within its intent, the provisions hereof are severable and any provision that is declared invalid or becomes inoperable for any reason shall not affect the validity of any other provision hereof, provided that the Parties can continue to perform their obligations under this Contract in accordance with its intent. SURVIVAL OF CERTAIN CONTRACT TERMS Notwithstanding anything herein to the contrary, provisions of this Contract requiring continued performance, compliance, or effect after termination hereof, shall survive such termination and shall be enforceable by the University if Contractor fails to perform or comply as required. TAXES The University is exempt from all federal excise taxes under IRC Chapter 32 (No. 84-730123K) and from all State and local government sales and use taxes under CRS Sec.Sec.39-26-101 and 201 et seq. Such exemptions apply when materials are purchased or services are rendered to benefit the University; provided however, that certain political subdivisions (e.g., City of Denver) may require payment of sales or use