Common use of Provisions Necessary and Reasonable Clause in Contracts

Provisions Necessary and Reasonable. The parties agree that (i) the provisions of Sections 1, 2 and 3 are necessary and reasonable to protect the Confidential Information and the goodwill of the Company and/or Parent; (ii) the specific time, geography and scope of the provisions set forth in Sections 1, 2 and 3 are reasonable and necessary to protect the business interests of the Company and/or Parent; and (iii) in the event of a breach of any agreement set forth in Section 1, 2 or 3, the Company and/or Parent might suffer substantial irreparable harm and that the Company and/or Parent might not have an adequate remedy at law for such breach. In recognition of the foregoing, the parties agree that in the event of a breach or threatened breach of any of these covenants, in addition to such other remedies as the Company and/or Parent may have at law, without posting any bond or security or requirement for proof of actual damages, the Company and/or Parent shall be entitled to seek equitable relief, in the form of specific performance, or temporary, preliminary or permanent injunctive relief, or any other equitable remedy which then may be available. The seeking of such injunction or order shall not affect the Company’s or Parent’s right to seek and obtain damages or other equitable relief on account of any such actual or threatened breach.