Common use of Waiver of Obligation Clause in Contracts

Waiver of Obligation. No delay, waiver, omission, or forbearance on the part of Franchisor to exercise any right, option, duty or power arising out of any breach or default by Franchisee under this Agreement constitutes a waiver by Franchisor to enforce any right, option, duty or power against Franchisee or as to any subsequent breach or default by Franchisee. Acceptance by Franchisor of any late payments is not deemed to be a waiver of Franchisor of any preceding breach by Franchisee of any terms, provisions, covenants or conditions of this Agreement. Franchisor specifically is not deemed to have waived or impaired any right, power or option reserved by this Agreement by virtue of any custom or practice of the parties at variance with the terms of this Agreement; or by any failure, refusal or neglect of Franchisor to exercise any right under this Agreement or to insist upon exact compliance by the Franchisee with its obligations, including any mandatory specification, standard or operating procedure. Neither Franchisor nor Franchisee are liable for loss or damage or deemed to be in breach of this Agreement if its failure to perform results from (1) transportation shortages, inadequate supply of labor, material or energy, or the voluntary foregoing of the right to acquire or use any of the foregoing in order to accommodate or comply with the orders, requests, regulations, recommendations or instructions of any government; (2) compliance with any law, ruling, order, regulation, requirement or instruction of government; (3) acts of God; (4) acts or omissions of the other party; (5) fires, strikes, embargoes, war or riot; or (6) any other similar event or cause. Any delay resulting from any of these causes shall extend performance accordingly or excuse performance, in whole or in part, as may be reasonable and shall notify other party in writing within 10 days after the causes occur. Specific Performance. Franchisee acknowledges that in the event of a breach of the covenants and agreements of Franchisee herein concerning the use of the Intellectual Property and obligation to honor the noncompetition provisions of the Franchise Agreement, both those applicable during the term of the Franchise Agreement and applicable after the termination thereof, Franchisor would suffer irreparable injury and harm which would not be calculable in terms of money damages and money damages would not make Franchisor whole. Notwithstanding anything herein to the contrary, Franchisee consents that Franchisor shall be entitled to injunctive relief, both temporary and permanent, to restrain Franchisee’s breach of said covenants and agreements and such relief may be granted by any court to which Franchisee is subject to jurisdiction. Franchisee also agrees that Franchisor will be entitled to such injunctive relief without posting any type of bond.