makes far more sense than the more literal:

Примена одредби

the point of this whole clause:

"In case that any one or more of the provisions contained in this Agreement, or any application thereof, shall be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained in this Agreement, and any other applications thereof, shall not in any way be affected or impaired thereby."

is that the "applicability" of each disposition of the contract DO NOT depend on the applicability of other dispositions in the same contract, as opposed to a situation where the whole contract would become unenforceable because of just one disposition that turns out to be unenforceable for being contrary to the law (which can easily happen when you try to use the same contract in a different country)