Common use of TERMINATION FEES EXCLUSIVE REMEDIES FOR DAMAGES Clause in Contracts

TERMINATION FEES EXCLUSIVE REMEDIES FOR DAMAGES. The respective rights of the parties to terminate this Agreement under Section 10.1(b) and to be paid the Seller's Termination Fee or the Buyer's Termination Fee, as the case may be, shall be the respective parties' sole and exclusive remedies for damages; in the event of such termination by either party, such party shall have no right to equitable relief for any breach or alleged breach of this Agreement, other than for specific performance for the payment of the Seller's Termination Fee or the Buyer's Termination Fee, as the case may be. Nothing contained in this Agreement shall prevent any party from electing not to exercise any right it may have to terminate this Agreement and, instead, seeking any equitable relief to which it would otherwise be entitled in the event of breach by any other party hereto.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Sonic Automotive Inc), Stock Purchase Agreement (Sonic Automotive Inc)

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TERMINATION FEES EXCLUSIVE REMEDIES FOR DAMAGES. The respective In the case of a termination of this Agreement pursuant to 10.1(c) above, the rights of the parties to terminate this Agreement under Section 10.1(b) and terminating party to be paid the Seller's Sellers' Termination Fee or the Buyer's Termination Fee, as the case may be, shall be the respective parties' such party's sole and exclusive remedies remedy for damages; in the event of such termination by either party, such party shall have no right to equitable relief for any breach or alleged breach of this Agreement, other than for specific performance for the payment of the Seller's Sellers' Termination Fee or the Buyer's Buyers' Termination Fee, as the case may be. Nothing contained in this Agreement shall prevent any party from electing not to exercise any right it may have to terminate this Agreement and, instead, seeking any equitable relief to which it would otherwise be entitled in the event of breach by any other party hereto.

Appears in 1 contract

Samples: Stock Purchase Agreement (Sonic Automotive Inc)

TERMINATION FEES EXCLUSIVE REMEDIES FOR DAMAGES. The respective rights of the parties to terminate this Agreement under Section 10.1(b) and to be paid the Seller's Sellers' Termination Fee or the Buyer's Termination Fee, as the case may be, shall be the respective parties' sole and exclusive remedies for damages; in the event of such termination by either party, such party shall have no right to equitable relief for any breach or alleged breach of this Agreement, other than for specific performance for the payment of the Seller's Sellers' Termination Fee or the Buyer's Buyers' Termination Fee, as the case may be. Nothing contained in this Agreement Section 10.5 shall prevent any party hereto from electing not to exercise any right it may have to terminate this Agreement andand seeking equitable relief, insteadincluding specific performance, seeking from any equitable relief to which it would otherwise be entitled in the event of breach by any other breaching party heretohereunder.

Appears in 1 contract

Samples: Stock Purchase Agreement (Sonic Automotive Inc)

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TERMINATION FEES EXCLUSIVE REMEDIES FOR DAMAGES. The respective rights of the parties to terminate this Agreement under Section 10.1(b) and to be paid the Seller's Termination Fee or the Buyer's Termination Fee, as the case may be, shall be the respective parties' sole and exclusive remedies for damages; in the event of such termination by either party, such party shall have no right to equitable relief for any breach or alleged breach of this Agreement, other than for specific performance for the payment of the Seller's Termination Fee or the Buyer's Buyers' Termination Fee, as the case may be. Nothing contained in this Agreement shall prevent any party from electing not to exercise any right it may have to terminate this Agreement and, instead, seeking any equitable relief to which it would otherwise be entitled in the event of breach by any other party hereto.

Appears in 1 contract

Samples: Agreement (Sonic Automotive Inc)

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