Common use of Injunctive Relief; Punitive Damages Clause in Contracts

Injunctive Relief; Punitive Damages. (a) Each Borrower recognizes that, in the event such Borrower or any other Credit Party fails to perform, observe or discharge any of its obligations or liabilities under this Agreement or any other Loan Document, any remedy of law may prove to be inadequate relief to the Lenders. Therefore, each Borrower (on behalf of itself and the other Subsidiaries) agrees that the Lenders, at the Lenders’ option, shall be entitled to temporary and permanent injunctive relief in any such case without the necessity of proving actual damages. (b) The Administrative Agent, the Lenders, each Borrower (on behalf of itself and the other Subsidiaries) hereby agree that no such Person shall have a remedy of punitive or exemplary damages against any other party to a Loan Document and each such Person hereby waives any right or claim to punitive or exemplary damages that they may now have or may arise in the future in connection with any Dispute, whether such Dispute is resolved through arbitration or judicially.

Injunctive Relief; Punitive Damages. (a) Each Borrower of the Borrowers and the other Credit Parties recognizes that, in the event such a Borrower or any such other Credit Party fails to perform, observe or discharge any of its obligations or liabilities under this Agreement or any other Loan DocumentAgreement, any remedy of law may prove to be inadequate relief to the Lenders. Therefore, each Borrower (on behalf of itself the Borrowers and the other Subsidiaries) Credit Parties agrees that the Administrative Agent and the Lenders, at the Lenders’ their option, shall be entitled to temporary and permanent injunctive relief in any such case without the necessity of proving actual damages. (b) The Administrative Agent, the Lenders, each Borrower (on behalf of itself the Borrowers and the other Subsidiaries) Credit Parties hereby agree that no such Person shall have a remedy of punitive or exemplary damages against any other party to a Loan Document and each such Person hereby waives any right or claim to punitive or exemplary damages that they may now have or may arise in the future in connection with any Dispute, whether such Dispute is resolved through arbitration or judicially.