Common use of Right to Specific Performance Clause in Contracts

Right to Specific Performance. In recognition of the fact that ----------------------------- the Shares subject to this Agreement are of a closely-held corporation and in view of the purposes of this Agreement, the parties agree that in addition to any other relief which may be afforded by law arising out of a violation of this Agreement or a failure to perform its terms, an injured party may, at its option, have the right to compel the specific performance of the terms and provisions of this Agreement, the understanding of the parties being that both damages and injunction shall be proper forms of relief and are not to be considered alternative remedies.