Common use of Arbitration, Remedies Clause in Contracts

Arbitration, Remedies. Any dispute that arises between the parties to this Agreement shall first be submitted for resolution to arbitration under the rules of the American Arbitration Association of Santa Xxxxx County, California. In the event of a breach or a threatened breach by any party to this Agreement of its obligations under this Agreement, any party injured or to be injured by such breach will be entitled to specific performance of its rights under this Agreement or to injunctive relief, in addition to being entitled to exercise all rights provided in this Agreement and granted by law. The parties agree that the provisions of this Agreement shall be specifically enforceable, it being agreed by the parties that the remedy at law, including monetary damages, for breach of any such provision will be inadequate compensation for any loss and that any defense or objection in any action for specific performance or injunctive relief that a remedy at law would be adequate is waived.