Remedies Clause Example from Business Contracts

Remedies. The covenants and undertakings of the Subject Parties contained in this Agreement relate to matters which are of a special, unique and extraordinary character and a violation of any of the terms of this Agreement may cause irreparable injury to the Covered Parties, the amount of which may be impossible to estimate or determine and which cannot be adequately compensated. Each Subject Party agrees that, in the event of any breach or threatened breach by such Subject Party of any covenant or obliga...tion contained in this Agreement, each applicable Covered Party will be entitled to seek and, if awarded by a court of competent jurisdiction or as provided in Section 7(e) below, obtain the following remedies (in addition to, and not in lieu of, any other remedy at law or in equity that may be available to the Covered Parties, including monetary damages), and a court of competent jurisdiction may award: (i) an injunction, restraining order or other equitable relief restraining or preventing such breach or threatened breach, without the necessity of proving actual damages or posting bond or security, which each Subject Party expressly waives; and (ii) recovery of the Covered Party's attorneys' fees and costs incurred in enforcing the Covered Party's rights under this Agreement. Each Subject Party hereby acknowledges and agrees that in the event of any breach of this Agreement, any value attributed or allocated to this Agreement under the Merger Agreement shall not be considered a measure of, or a limit on, the damages of the Covered Parties. View More