Common use of Remedies of Grantor Clause in Contracts

Remedies of Grantor. (a) Licensee acknowledges that the failure of the Licensee to cease the manufacture, sale or distribution of Licensed Products except as herein permitted upon the expiration or earlier termination of the License granted hereunder or the failure of Licensee to fulfill its obligations specified as described in this Agreement, will result in immediate and irremediable damage to VDI and to the rights of any other licensee of the Property. Licensee acknowledges that VDI has no adequate remedy at law for any such failure referred to or referenced to in this Clause and in the event of any such failure, VDI shall be entitled to equitable relief by way of temporary and permanent injunctions, in addition to such other further relief as any court of competent jurisdiction may deem just and proper. (b) If VDI uses any remedy afforded by this Clause, VDI shall not be deemed to have elected its remedy or to have waived any other rights or remedies available to it under this Agreement, or otherwise.

Remedies of Grantor. (a) Licensee acknowledges that the failure of the Licensee to cease the manufacture, sale or distribution of Licensed Products except as herein permitted upon the expiration or earlier termination of the License granted hereunder or of the failure of Licensee to fulfill its obligations specified as described in this Agreement, will result in immediate and irremediable damage to VDI and to the rights of any other licensee of the Property. Licensee acknowledges that VDI has no adequate remedy at law for any such failure referred to or referenced to in this Clause and in the event of any such failure, VDI shall be entitled to equitable relief by way of temporary and permanent injunctions, in addition to such other further relief as any court of competent jurisdiction may deem just and proper. (b) If VDI uses any remedy afforded by this Clause, VDI shall not be deemed to have elected its remedy or to have waived any other rights or remedies available to it under this Agreement, or otherwise.