Common use of Specific Performance and Remedies Clause in Contracts

Specific Performance and Remedies. Shareholder acknowledges that it will be impossible to measure in money the damage to Monarch if Shareholder fails to comply with the obligations imposed by this Agreement and that, in the event of any such failure, Monarch will not have an adequate remedy at law or in damages. Accordingly, Shareholder agrees that injunctive relief or other equitable remedy, in addition to remedies at law or in damages, is the appropriate remedy for any such failure and will not oppose the granting of such relief on the basis that Monarch has an adequate remedy at law. Shareholder agrees that it will not seek, and agrees to waive any requirement for, the securing or posting of a bond in connection with Monarch's seeking or obtaining such equitable relief. In addition to all other rights or remedies which Monarch may have against Shareholder in the event of a default in Shareholder's performance of Shareholder's obligations under this Agreement, Shareholder shall be liable to Monarch for all litigation costs and attorneys' fees incurred by Monarch in connection with the enforcement of any of its rights or remedies against Shareholder. In addition, after discussing the matter with Shareholder, Monarch shall have the right to inform any third party that Monarch reasonably believes to be, or to be contemplating, participating with Shareholder or receiving from Shareholder assistance in violation of this Agreement, of the terms of this Agreement and of the rights of Monarch hereunder, and that participation by any such persons with Shareholder in activities in violation of Shareholder's agreement with Monarch set forth in this Agreement may give rise to claims by Monarch against such third party.