Common use of Injunctive Relief and Reasonableness Clause in Contracts

Injunctive Relief and Reasonableness. Seller and Seller's Shareholders stipulate and agree that the remedy at law for breach of the covenant in the subsections of Section 8.2 would be inadequate and that Buyer shall be entitled to injunctive relief to enforce such covenants. Seller and Seller's Shareholders further stipulate and agree that the prohibitions contained in Section 8.2.1 are reasonable as to time and area, and Seller and Seller's Shareholders specifically waive any objection to the reasonableness of said prohibitions. In the event that a provision of this Agreement is held invalid by a court of competent jurisdiction, the remaining provisions shall nonetheless be enforceable in accordance with their terms. Further, in the event that any provision is held to be overbroad as written, such provision shall be deemed amended to narrow its application to the extent necessary to make the provision enforceable according to applicable law and shall be enforced as amended. Damages and injunctive relief shall not be considered alternative remedies.

Appears in 2 contracts

Sources: Asset Purchase Agreement (Ipi Inc), Asset Purchase Agreement (Ipi Inc)