Common use of Enforcement; Specific Performance Clause in Contracts

Enforcement; Specific Performance. The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby in order to induce Indemnitee to serve as a director or officer of the Company, and the Company acknowledges that Indemnitee is relying upon this Agreement in serving as a director or officer of the Company. The Company and Indemnitee agree that a monetary remedy for breach of this Agreement may be inadequate, impracticable and difficult of proof, and further agree that such breach may cause Indemnitee irreparable harm. Accordingly, the parties hereto agree that Indemnitee may enforce this Agreement by seeking injunctive relief and/or specific performance hereof, without any necessity of showing actual damage or irreparable harm and that by seeking injunctive relief and/or specific performance, Indemnitee shall not be precluded from seeking or obtaining any other relief to which he may be entitled. The Company and Indemnitee further agree that Indemnitee shall be entitled to such specific performance and injunctive relief, including temporary restraining orders, preliminary injunctions and permanent injunctions, without the necessity of posting bonds or other undertaking in connection therewith. The Company acknowledges that in the absence of a waiver, a bond or undertaking may be required of Indemnitee by the Court, and the Company hereby waives any such requirement of a bond or undertaking.

Appears in 2 contracts

Samples: Indemnification Agreement (Lantronix Inc), Indemnification Agreement (Lantronix Inc)

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Enforcement; Specific Performance. The Company Corporation expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby in order to induce Indemnitee to serve or to continue to serve as a director or officer of the CompanyCorporation, and the Company acknowledges that Indemnitee is relying upon this Agreement in serving as a director or officer of the Companycontinuing in such capacity. The Company and Indemnitee parties hereto agree that a delayed monetary remedy for breach of this Agreement may be inadequate, impracticable and difficult of proof, and further agree that such breach may shall cause Indemnitee irreparable harm. Accordingly, the parties hereto agree that Indemnitee may enforce the Corporation’s obligations to advance Expenses provided under this Agreement by seeking injunctive relief and/or specific performance hereof, without any necessity of further showing actual damage or irreparable harm and that by seeking injunctive relief and/or specific performance, Indemnitee shall not be precluded from seeking or obtaining any other relief to which he may be entitledharm. The Company and Indemnitee parties hereto further agree that Indemnitee shall be entitled to any such specific performance and injunctive relief, including temporary restraining orders, preliminary injunctions and permanent injunctions, without the necessity of posting bonds or other undertaking in connection therewith. The Company Corporation acknowledges that in the absence of a waiver, a bond or undertaking may be required of Indemnitee by the Courtcourt, and the Company Corporation hereby waives any such requirement of a bond or undertaking. Nothing herein shall prevent Indemnitee from seeking or obtaining any other relief to which Indemnitee may be entitled.

Appears in 1 contract

Samples: Indemnification Agreement (Northrop Grumman Corp /De/)

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Enforcement; Specific Performance. The Company Corporation expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby in order to induce Indemnitee to serve or to continue to serve as a director or officer of the CompanyCorporation, and the Company acknowledges that Indemnitee is relying upon this Agreement in serving as a director or officer of the Companycontinuing in such capacity. The Company and Indemnitee parties hereto agree that a delayed monetary remedy for breach of any failure to advance Expenses under this Agreement may be inadequate, impracticable and difficult of proof, and further agree that such breach may shall cause Indemnitee irreparable harm. Accordingly, the parties hereto agree that Indemnitee may enforce the Corporation’s obligations to advance Expenses provided under this Agreement by seeking injunctive relief and/or specific performance hereof, without any necessity further showing of showing actual damage or irreparable harm and that by seeking injunctive relief and/or specific performance, Indemnitee shall not be precluded from seeking or obtaining any other relief to which he may be entitledharm. The Company and Indemnitee parties hereto further agree that Indemnitee shall be entitled to any such specific performance and injunctive relief, including temporary restraining orders, preliminary injunctions and permanent injunctions, without the necessity of posting bonds or other undertaking in connection therewith. The Company Corporation acknowledges that in the absence of a waiver, a bond or undertaking may be required of Indemnitee by the Court, and the Company Corporation hereby waives any such requirement of a bond or undertaking. Nothing herein shall prevent Indemnitee from seeking or obtaining any other relief to which Indemnitee may be entitled.

Appears in 1 contract

Samples: Indemnification Agreement (LTX-Credence Corp)

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