Common use of No Adequate Remedy at Law Clause in Contracts

No Adequate Remedy at Law. Executive acknowledges and agrees that it may be impossible to measure in money the damages which the Bank will suffer in the event Executive breaches any of the covenants in this Section 8. Therefore, if the Bank shall institute any action or proceeding to enforce the provisions hereof, Executive hereby waives and agrees not to assert in any such action or proceeding the claim or defense that the Bank has an adequate remedy at law. The foregoing shall not prejudice the right of the Bank to require Executive to account for and pay over to the Bank the compensation, profits, monies, accruals or other benefits derived or received by Executive as a result of any transaction constituting a breach of the covenants set forth in this Section 8.

No Adequate Remedy at Law. Executive acknowledges and agrees that it may be impossible to measure in money the damages which the Bank will suffer in the event Executive breaches any of f the covenants in this Section 8. Therefore, if the Bank shall institute any action or proceeding to enforce the provisions hereof, Executive hereby waives and agrees not to assert in any such action or proceeding the claim or defense that the Bank has an adequate remedy at law. The foregoing shall not prejudice the right of the Bank to require Executive to account for and pay over to the Bank the compensation, profits, monies, accruals or other benefits derived or received by Executive as a result of any transaction constituting a breach of the covenants set forth in this Section 8.