Common use of Tender Back Clause in Contracts

Tender Back. Should Executive attempt to challenge the enforceability of this Agreement or any provision herein, or attempt to initiate any legal proceedings, including but not limited to administrative agency or court proceedings arising out of or related to Executive's employment or termination of employment with Employer, Executive shall initially tender to Employer, by certified check delivered to counsel for Employer, the full amount of cash consideration paid to him hereunder, plus interest at the legal rate from the date of Executive's execution of this Agreement, and shall invite Employer to cancel this Agreement. If Employer accepts the offer to cancel the Agreement, this Agreement shall be canceled. If Employer does not accept this offer to cancel, Employer shall so notify Executive and shall place the amount tendered by Executive in an interest-bearing account pending a determination of the enforceability of this Agreement. If the Agreement is determined to be enforceable, 100% of the amount of the account shall be repaid to Executive; if this Agreement is not determined to be enforceable, the amount in the account shall be retained by Employer or its designee. This Section 14 shall not be applicable to actions brought by Executive to enforce Employer's obligations hereunder.

Tender Back. Should Executive attempt to challenge the enforceability of this Agreement or any provision herein, or attempt to initiate any legal proceedings, including but not limited to administrative agency or court proceedings arising out of or related to Executive's employment or termination of employment with Employer, Executive shall initially tender to Employer, by certified check delivered to counsel for Employer, the full amount of cash consideration paid to him hereunder, plus interest at the legal rate from the date of Executive's execution of this Agreement, and shall invite Employer to cancel this Agreement. If Employer accepts the offer to cancel the Agreement, this Agreement shall be canceled. If Employer does not accept this offer to cancel, Employer shall so notify Executive and shall place the amount tendered by Executive in an interest-bearing account pending a determination of the enforceability of this Agreement. If the Agreement is determined to be enforceable, 100% of the amount of the account shall be repaid to Executive; if this Agreement is not determined to be enforceable, the amount in the account shall be retained by Employer or its designee. This Section 14 15 shall not be applicable to actions brought by Executive to enforce Employer's obligations hereunder.. [THIS SPACE INTENTIONALLY LEFT BLANK]