Common use of Damages and Remedies Clause in Contracts

Damages and Remedies. (a) EXCEPT FOR DAMAGES ARISING UNDER EACH PARTY’S INDEMNIFICATION FOR THIRD PARTY CLAIMS AS SET OUT IN SECTION 8.2, NEITHER PARTY WILL BE LIABLE TO THE OTHER PARTY, UNDER ANY LEGAL OR EQUITABLE THEORY, FOR ANY CONSEQUENTIAL, INCIDENTAL, SPECIAL, PUNITIVE OR INDIRECT DAMAGES OF ANY KIND, SUFFERED BY OR OTHERWISE COMPENSABLE TO THE OTHER, ARISING OUT OF, UNDER OR RELATING TO THIS AGREEMENT, WHETHER OR NOT ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. (b) Each Party recognizes that, if it fails to perform, observe or discharge any of its obligations under this Agreement, no remedy at law will provide adequate relief to the other Party. Each Party may obtain specific performance of this Agreement, and is entitled to preliminary and permanent injunctive relief, upon appropriate notice and hearing as required by a court of competent jurisdiction at any time when the other Party fails to comply with the provisions of this Agreement.