Common use of Cumulative Remedies; Specific Performance Clause in Contracts

Cumulative Remedies; Specific Performance. The rights and remedies of the parties shall be construed cumulatively, and none of such rights and remedies shall be exclusive of, or in lieu or limitation of, any other right, remedy or priority allowed by law, unless specifically set forth herein. The parties acknowledge that irreparable harm would occur in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached and that legal remedies alone for breach of this Agreement may be inadequate. The parties further acknowledge that any party by whom this Agreement is enforceable shall be entitled to institute and prosecute proceedings, either at law or in equity, to seek specific performance of the terms and conditions of this Agreement, to obtain injunctive relief, or to obtain any other appropriate relief or remedy. Any requirements for securing or posting of any bond in connection with such remedies are hereby waived.