Common use of Specific Performance Termination Clause in Contracts

Specific Performance Termination. The parties agree and intend that this Stockholder Agreement be a valid and binding agreement enforceable against the parties hereto and that damages and other remedies at law for the breach of this Stockholder Agreement are inadequate. Each of the Stockholders agree that irreparable damage to Edify would occur in the event that the provisions of this Stockholder Agreement were not performed in accordance with its specific terms or were otherwise breached by any of the Stockholders. It is accordingly agreed that Edify shall be entitled to an injunction or injunctions to prevent breaches of this Stockholder Agreement by any of the Stockholders and to enforce specifically the terms and provisions hereof in any court of the United States or any state having jurisdiction, this being in addition to any other remedy to which Edify is entitled at law or in equity. This Stockholder Agreement may be terminated at any time prior to the consummation of the Merger by the mutual written consent of the parties hereto and shall be automatically terminated in the event that the Agreement is terminated in accordance with its terms.

Appears in 2 contracts

Samples: Stockholder Agreement (Security First Technologies Corp), Stockholder Agreement (Edify Corp)

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Specific Performance Termination. The parties agree and intend that this Stockholder Agreement be a valid and binding agreement enforceable against the parties hereto and that damages and other remedies at law for the breach of this Stockholder Agreement are inadequate. Each of the Stockholders agree agrees that irreparable damage to Edify the FICS Stockholders would occur in the event that the provisions of this Stockholder Agreement were not performed in accordance with its specific terms or were otherwise breached by any of the Stockholders. It is accordingly agreed that Edify the FICS Stockholders shall be entitled to an injunction or injunctions to prevent breaches of this Stockholder Agreement by any of the Stockholders and to enforce specifically the terms and provisions hereof in any court of the United States or any state having jurisdiction, this being in addition to any other remedy to which Edify S1 is entitled at law or in equity. This Stockholder Agreement may be terminated at any time prior to the consummation of the Merger Transaction by the mutual written consent of the parties hereto and shall be automatically terminated in the event that the Agreement is terminated in accordance with its terms.

Appears in 2 contracts

Samples: Share Purchase Agreement (Security First Technologies Corp), Share Purchase Agreement (Security First Technologies Corp)

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Specific Performance Termination. The parties agree and intend that this Stockholder Agreement be a valid and binding agreement enforceable against the parties hereto and that damages and other remedies at law for the breach of this Stockholder Agreement are inadequate. Each of the Stockholders The parties agree that irreparable damage to Edify would occur in the event that the provisions of this Stockholder Agreement were not performed in accordance with its specific terms or were otherwise breached by any of the StockholdersStockholders or S1. It is accordingly agreed that Edify the parties shall be entitled to an injunction or injunctions to prevent breaches of this Stockholder Agreement by any of the Stockholders Stockholders, or S1, as the case may be, and to enforce specifically the terms and provisions hereof in any court of the United States or any state having jurisdiction, this being in addition to any other remedy to which Edify is S1 and the Stockholders are entitled at law or in equity. This Stockholder Agreement may be terminated at any time prior to the consummation of the Merger by the mutual written consent of the parties hereto and shall be automatically terminated in the event that the Agreement is terminated in accordance with its terms.

Appears in 2 contracts

Samples: Stockholder Agreement (Security First Technologies Corp), Stockholder Agreement (Edify Corp)

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