Enforcement Clause Example from Business Contracts

Enforcement. The Parties and Sponsor agree that irreparable damage for which monetary damages, even if available, may not be an adequate remedy, would occur in the event that the Parties or Sponsor do not perform their obligations under the provisions of this Agreement and Side Letter in accordance with their respective specified terms or otherwise breach any of such provisions. Each of the Parties and Sponsor acknowledge and agree that (a) each of the Parties and Sponsor shall be entitled to an injunction,... specific performance, or other equitable relief, to prevent breaches of this Agreement and the Side Letter and to enforce specifically the terms and provisions hereof and thereof, including Shareholder's obligations to vote its Securities as provided in this Agreement, and Sponsor's obligations to transfer the Founder Shares as provided in the Side Letter, without proof of damages, prior to the valid termination of this Agreement or the Side Letter, as applicable, this being in addition to any other remedy to which they are entitled under this Agreement or the Side Letter, and (b) the right of specific enforcement is an integral part of the transactions contemplated by this Agreement and Side Letter and without that right, none of the Parties would have entered into this Agreement. Each Party and Sponsor agrees that it will not oppose the granting of specific performance and other equitable relief on the basis that the other Party or Sponsor have an adequate remedy at applicable law or that an award of specific performance is not an appropriate remedy for any reason at applicable law or equity. The Parties and Sponsor acknowledge and agree that any Party seeking an injunction to prevent breaches of this Agreement or Side Letter and to enforce specifically the terms and provisions of this Agreement or Side Letter in accordance with this Section 8 shall not be required to provide any bond or other security in connection with any such injunction. 9. Most Favored Nation. In the event the Sponsor or SPAC enters one or more other non-redemption and/or side letter agreements before or after the execution of this Agreement, the Sponsor and SPAC each represent that the terms of such other agreements, considered in the aggregate, will not be materially more favorable to such other investors thereunder than the terms of this Agreement and the Side Letter, considered in the aggregate, are in respect of Shareholder. In the event that another third party is afforded any such more favorable terms than Shareholder, the SPAC and Sponsor shall promptly inform Shareholder of such more favorable terms in writing, and Shareholder shall have the right to elect to amend this Agreement to the extent required to ensure that the terms of this Agreement and the Side Letter, considered in the aggregate, are as favorable to Shareholder as the terms of such other agreements are to such other investors, in which case the parties hereto shall promptly amend this Agreement and the Side Letter to effect the same. View More