definiens: Standstill Term " shall mean the two year period after the License Effective Date.l 16.3.2 [ The provisions of Section 16.3.1 shall no longer apply : ( i ) if N astech announces publicly that it is seeking, or considering seeking, purchasers for Nastech or is otherwise exploring, or considering exploring, strategic options in this regard ; ( m upon the commencement by a Third Party of a tender or exchange offer for more than fifty percent ( 50 % ) of voting power of the outstanding voting securities of Nastech ; ( iii ) if a Third Party acquires beneficial ownership of thirty - five percent ( 35 % ) or more of the outstanding common stock ofNastech ; or ( iv ) if Nastech publicly announces a transaction, or an intention to effect any transaction, which would result in : ( a ) the sale by Nastech or one or more of its subsidiaries of assets representing fifty percent ( 50 % ) or more of the consolidated earnhlg power or assets of Nastech ; ( b ) the common shareholders ofNastecb immediately prior to such transaction owning less thall fifty - one percent ( 51 % ) of the outstanding common stock of the acquiring entity or, in the case of a merger transaction, the surviving corporation ( or, if the surviving corporation is a subsidiary of a parent company, the parent company ) ; or ( c ) a Third Party acquiring beneficial ownership of thirty - fin percent ( 35 % ) or more of the outstanding common stock of Nastech . ] 16.4 SEVERABILITY . If anyone or more of the provisions contained in this Agreement is held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby, unless the absence of the invalidated provision(s ) adversely affects the substantive rights of the parties . The parties shall in such an instance use their best efforts to replace the invalid, illegal or unenforceable provision(s ) with valid, legal and enforceable provision(s ) which, insofar as practical, implement the purposes of this Agreement