Common use of Damages and Remedies Clause in Contracts

Damages and Remedies. Each Party acknowledges that the payment of the Termination Fee in the circumstances contemplated in Section 7.3 is the sole remedy to which a Party is entitled on the termination of this Agreement and that such amount is not a penalty, but intended to reimburse a Party for its time, efforts and costs in implementing the transactions contemplated herein. Each Party irrevocably waives any right it may have to raise as a defense that any such fee is excessive or punitive. Each Party acknowledges that, other than in respect of the termination of this Agreement in circumstances contemplated in Section 7.3, nothing restricts the ability of a Party to pursue any and all legal remedies with respect to any breach by the Other Party of its covenants, representations or warranties contained herein, including without limitation the ability to ▇▇▇ for damages, seek injunctive relief or specific performance. Nothing herein shall preclude a Party from seeking injunctive relief to restrain any breach or threatened breach of the covenants or agreements set forth in this Agreement or otherwise to obtain specific performance of any of such act, covenants or agreements, without the necessity of posting bond or security in connection therewith.

Damages and Remedies. Each Party acknowledges that the payment of the Termination Fee in the circumstances contemplated in Section 7.3 is the sole remedy to which a Party is entitled on the termination of this Agreement and that such amount is not a penalty, but intended to reimburse a Party for its time, efforts and costs in implementing the transactions contemplated herein. Each Party irrevocably waives any right it may have to raise as a defense defence that any such fee is excessive or punitive. Each Party acknowledges that, other than in respect of the termination of this Agreement in circumstances contemplated in Section 7.3, nothing restricts the ability of a Party to pursue any and all legal remedies with respect to any breach by the Other Party of its covenants, representations or warranties contained herein, including without limitation the ability to ▇▇▇ for damages, seek injunctive relief or specific performance. Nothing herein shall preclude a Party from seeking injunctive relief to restrain any breach or threatened breach of the covenants or agreements set forth in this Agreement or otherwise to obtain specific performance of any of such act, covenants or agreements, without the necessity of posting bond or security in connection therewith.