Common use of Specific Enforcement; Cessation of Payments Clause in Contracts

Specific Enforcement; Cessation of Payments. Employer is entitled to an action or proceeding, in addition to its rights under Section 14 and whether or not an arbitration proceeding has been or is ever initiated, to temporarily, preliminarily or permanently enforce any part of Section 8(a), (b) or (c). Employee agrees that (i) Employee violating any part of Section 8(a), (b) or (c) would cause damage to Employer that cannot be measured or repaired, (ii) Employer therefore is entitled to an injunction, restraining order or other equitable relief restraining any actual or threatened violation of such Sections, (iii) no bond will need to be posted for Employer to receive such an injunction, order or other relief and (iv) no proof will be required that monetary damages for violations of Section 8(a), (b) or (c) would be difficult to calculate and that remedies at law would be inadequate. In addition to the other rights provided for in this Section 8(g), it is agreed that, if Employee breaches Section 8(a), (b) or (c), Employer’s obligation to make or provide payments or benefits under Section 5 or 6 shall cease, to the extent not already paid or provided.

Appears in 2 contracts

Samples: Employment Agreement (Heartland Financial Usa Inc), Employment Agreement (Heartland Financial Usa Inc)

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Specific Enforcement; Cessation of Payments. Employer is entitled to an action or proceeding, in addition to its rights under Section 14 13 and whether or not an arbitration proceeding has been or is ever initiated, to temporarily, preliminarily or permanently enforce any part of Section 8(a7(b), (bc) or (cd). Employee Executive agrees that (i) Employee Executive violating any part of Section 8(a7(b), (bc) or (cd) would cause damage to Employer and its affiliates that cannot be measured or repaired, (ii) Employer therefore is entitled to an injunction, restraining order or other equitable relief restraining any actual or threatened violation of such Sections, (iii) no bond will need to be posted for Employer to receive such an injunction, order or other relief and (iv) no proof will be required that monetary damages for violations of Section 8(a7(b), (bc) or (cd) would be difficult to calculate and that remedies at law would be inadequate. In addition to the other rights provided for in this Section 8(g7(h), it is agreed that, if Employee Executive breaches Section 8(a7(b), (bc) or (cd), Employer’s obligation to make or provide payments or benefits under Section 5 or 6 shall cease, to the extent not already paid or provided.

Appears in 1 contract

Samples: Employment Agreement (Texas Regional Bancshares Inc)

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Specific Enforcement; Cessation of Payments. Employer is entitled to an action or proceeding, in addition to its rights under Section 14 and whether or not an arbitration proceeding has been or is ever initiated, to temporarily, preliminarily or permanently enforce any part of Section 8(a8(b), (bc) or (cd). Employee agrees that (i) Employee violating any part of Section 8(a8(b), (bc) or (cd) would cause damage to Employer that cannot be measured or repaired, (ii) Employer therefore is entitled to an injunction, restraining order or other equitable relief restraining any actual or threatened violation of such Sections, (iii) no bond will need to be posted for Employer to receive such an injunction, order or other relief and (iv) no proof will be required that monetary damages for violations of Section 8(a8(b), (bc) or (cd) would be difficult to calculate and that remedies at law would be inadequate. In addition to the other rights provided for in this Section 8(g8(h), it is agreed that, if Employee breaches Section 8(a8(b), (bc) or (cd), Employer’s 's obligation to make or provide payments or benefits under Section 5 or 6 shall cease, to the extent not already paid or provided.

Appears in 1 contract

Samples: Employment Agreement (Centennial Bank Holdings, Inc.)

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