Common use of Specific Enforceability Clause in Contracts

Specific Enforceability. The parties recognize and hereby acknowledge that it is impossible to measure in money the damages that would result to a party by reason of the failure of either of the parties to perform any of the obligations imposed on it by this Agreement. Accordingly, if any party should institute an action or proceeding seeking specific enforcement of the provisions hereof, each party against which such action or proceeding is brought hereby waives the claim or defense that the party instituting such action or proceeding has an adequate remedy at law and hereby agrees not to assert in any such action or proceeding the claim or defense that such a remedy at law exists.

Appears in 7 contracts

Sources: Merger Agreement (Boston Bancorp), Acquisition Agreement (Ust Corp /Ma/), Affiliation Agreement and Plan of Reorganization (Ust Corp /Ma/)

Specific Enforceability. The parties recognize and hereby acknowledge that it is impossible to measure in money the damages that would result to a party by reason of the failure of either of the parties to perform any of the obligations imposed on it by this AgreementAgreement and that in any event damages would be an inadequate remedy in this instance. Accordingly, if any party should institute an action or proceeding seeking specific enforcement of the provisions hereof, each the party against which such action or proceeding is brought hereby waives the claim or defense that the party instituting such action or proceeding has an adequate remedy at law and hereby agrees not to assert in any such action or proceeding the claim or defense that such a remedy at law existsexists and shall waive or not assert any requirement to post bond in connection with seeking specific performance.

Appears in 6 contracts

Sources: Merger Agreement (Covest Bancshares Inc), Merger Agreement (Midwest Banc Holdings Inc), Merger Agreement (First Midwest Bancorp Inc)

Specific Enforceability. The parties Parties recognize and hereby acknowledge that it is impossible to measure in money the damages that would result to a party Party by reason of the failure of either any of the parties Parties to perform any of the obligations imposed on it by this Agreement. Accordingly, if any party Party should institute an action or proceeding seeking specific enforcement of the provisions hereof, each party Party against which such action or proceeding is brought hereby waives the claim or defense that the party Party instituting such action or proceeding has an adequate remedy at law and hereby agrees not to assert in any such action or proceeding the claim or defense that such a remedy at law exists.

Appears in 3 contracts

Sources: Merger Agreement (Commodore Environmental Services Inc /De/), Merger Agreement (Roberts Realty Investors Inc), Merger Agreement (Lanxide Corp)

Specific Enforceability. The parties recognize and hereby ----------------------- acknowledge that it is impossible to measure in money the damages that would result to a party by reason of the failure of either any of the parties to perform any of the obligations imposed on it by this Agreement. Agreement Accordingly, if any party should institute an action or proceeding seeking specific enforcement of the provisions hereof, each party against which such action or proceeding is brought hereby waives the claim or defense that the party instituting such action or proceeding has an adequate remedy at law and hereby agrees not to assert in any such action or proceeding the claim or defense that such a remedy at law exists.

Appears in 1 contract

Sources: Stock Subscription Agreement (Affiliated Community Bancorp Inc)

Specific Enforceability. The parties recognize and hereby acknowledge that it is impossible to measure in money the damages that would result to a party by reason of the failure of either any of the parties to perform any of the obligations imposed on it by this AgreementAgreement and that in any event damages would be an inadequate remedy in this instance. Accordingly, if any party should institute an action or proceeding seeking specific enforcement of the provisions hereof, each the party against which such action or proceeding is brought hereby waives the claim or defense that the party instituting such action or proceeding has an adequate remedy at law and hereby agrees not to assert in any such action or proceeding the claim or defense that such a remedy at law existsexists and shall waive or not assert any requirement to post bond in connection with seeking specific performance.

Appears in 1 contract

Sources: Stock Purchase Agreement (Viper Powersports Inc)

Specific Enforceability. The parties recognize and hereby acknowledge that it is impossible to measure in money the damages that would result to a party by reason of the failure of either any of the parties to perform any of the obligations imposed on it by this Agreement. Accordingly, if any party should institute an action or proceeding seeking specific enforcement of the provisions hereof, each party against which such action or proceeding is brought hereby waives the claim or defense that the party instituting such action or proceeding has an adequate remedy at law and hereby agrees not to assert in any such action or proceeding the claim or defense that such a remedy at law exists.

Appears in 1 contract

Sources: Merger Agreement (Bank of Boston Corp)

Specific Enforceability. The parties recognize and hereby acknowledge that it is impossible to measure in money the damages that would result to a party by reason of the failure of either of the parties to perform any of the obligations imposed on it by this Agreement. Accordingly, if any party should institute an action or proceeding seeking specific enforcement of the provisions hereof, each party against which such action or proceeding is brought hereby waives the claim or defense that the party instituting such action or proceeding has an adequate remedy at law and hereby agrees agreed not to assert in any such action or proceeding the claim or defense that such a remedy at law exists.

Appears in 1 contract

Sources: Loan Purchase Agreement (First Ipswich Bancorp /Ma)

Specific Enforceability. The parties recognize and hereby -------- -------------- acknowledge that it is impossible to measure in money the damages that would result to a party by reason of the failure of either of the parties to perform any of the obligations imposed on it by this Agreement. Accordingly, if any party should institute an action or proceeding seeking specific enforcement of the provisions hereof, each party against which such action or proceeding is brought hereby waives the claim or defense that the party instituting such action or proceeding has an adequate remedy at law and hereby agrees not to assert in any such action or proceeding the claim or defense that such a remedy at law exists.

Appears in 1 contract

Sources: Agreement and Plan of Reorganization (Bank of Boston Corp)

Specific Enforceability. The parties recognize and hereby acknowledge that it is impossible to measure in money the damages that would result to a party by reason of the failure of either of the parties other party to perform any of the obligations imposed on it by this Agreement. Accordingly, if any either party should institute an action or proceeding seeking specific enforcement of the provisions hereof, each the party against which such action or proceeding is brought hereby waives the claim or defense that the party instituting such action or proceeding has an adequate remedy at law and hereby agrees not to assert in any such action or proceeding the claim or defense that such a remedy at law exists.

Appears in 1 contract

Sources: Stock Purchase Agreement (Affiliated Community Bancorp Inc)