Common use of Provisions Necessary and Reasonable Clause in Contracts

Provisions Necessary and Reasonable. 17(a) Executive agrees that: (i) The provisions of Sections 13, 14, 15 and 16 of this Agreement are necessary and reasonable to protect the Company's Confidential Information, Inventions and goodwill; (ii) The specific temporal, geographic and substantive provisions set forth in Section 15 of this Agreement are reasonable and necessary to protect Company's business interests; and, (iii) In the event of any breach of any of the covenants set forth in Sections 13, 14, 15 and 16 herein, the Company would suffer substantial irreparable harm and would not have an adequate remedy at law for such breach. In recognition of the foregoing, Executive agrees that in the event of a breach or threatened breach of any of these covenants, in addition to such remedies as Company may have at law, Company shall be entitled to seek and obtain judicial equitable relief, in the form of specific performance, and/or temporary, preliminary or permanent injunctive relief, or any other equitable remedy which then may be available. The seeking of such judicial equitable relief or order shall not affect Company's right to seek and obtain damages or other equitable relief on account of any such actual or threatened breach pursuant to Section 9 of this Agreement.

Appears in 1 contract

Sources: Employment Agreement (Maui Land & Pineapple Co Inc)

Provisions Necessary and Reasonable. 17(a) Executive Distributor agrees that: that (i) The the provisions of Sections 13, 14, 15 5.17 and 16 5.18 of this Agreement are necessary and reasonable to protect the Company's ’s Confidential Information, Inventions Inventions, and goodwill; ; (ii) The the specific temporal, geographic and substantive provisions set forth in Section 15 5.19 of this Agreement are reasonable and necessary to protect the Company's ’s business interests; and, and (iii) In in the event of any breach of any of the covenants set forth in Sections 13, 14, 15 and 16 herein, the Company would suffer substantial irreparable harm and would not have an adequate remedy at law for such breach. In recognition of the foregoing, Executive Distributor agrees that in the event of a breach or threatened breach of any of these covenants, in addition to such other remedies as the Company may have at law, without posting any bond or security, the Company shall be entitled to seek and obtain judicial equitable relief, in the form of specific performance, and/or temporary, preliminary or permanent injunctive relief, or any other equitable remedy which then may be available. The seeking of such judicial equitable relief injunction or order shall not affect the Company's ’s right to seek and obtain damages or other equitable relief on account of any such actual or threatened breach pursuant to Section 9 of this Agreementbreach.

Appears in 1 contract

Sources: License Agreement