Common use of Equitable Relief; Specific Performance Clause in Contracts

Equitable Relief; Specific Performance. The parties hereto agree that the restrictions contained in Sections 13.1 and 13.2 are necessary for the protection of the business and goodwill of the Company and the value of the Membership Interests and each Member acknowledges that such restrictions are reasonable for such purpose. Each party to this Agreement acknowledges and agrees that any breach of this Agreement relating to such restrictions is likely to cause the other parties hereto substantial and irrevocable damage that is difficult to measure. Therefore, in the event of any such breach or threatened breach, each party agrees that the other parties, in addition to such other remedies that may be available, shall have the right to obtain an injunction from a court restraining such a breach or threatened breach and the right to specific performance of such restrictions without the necessity of proving inadequacy of legal remedies or irreparable harm or posting bond, any such requirements to such equitable and injunctive relief being hereby specifically waived without posting a bond. The Member and the Company each acknowledge and agree that these restrictions are enforceable and are ancillary to an otherwise enforceable agreement. Each party hereto hereby waives (i) the adequacy of a remedy at law as a defense to any such equitable relief; and (ii) the failure of sufficient and/or independent consideration, or that this Agreement is not ancillary to an otherwise enforceable agreement, as a defense to any enforcement of this Agreement by the other parties hereto.