Common use of Remedies at Law or in Equity Clause in Contracts

Remedies at Law or in Equity. If any Default shall occur or if any representation or warranty made by or on behalf of the Company in this Agreement or in any certificate, report or other instrument delivered under or pursuant to any term hereof shall be untrue or misleading in any material respect as of the date of this Agreement or as of the Closing Date or as of the date it was made, furnished or delivered, the Holder of any Security may proceed to protect and enforce its rights by suit in equity or action at law, whether for the specific performance of any term contained in this Agreement or the Certificate or for an injunction against the breach of any such term or in aid of the exercise of any power granted in this Agreement or the Certificate, or to enforce any other legal or equitable right of such Holder of any such Securities, or to take any one or more of such actions. In the event a Holder brings such an action against the Company, the Holder shall be entitled to recover from the Company all fees, costs and expenses of enforcing any right of such Holder under or with respect to this Agreement or the Certificate, including without limitation such reasonable fees and expenses of attorneys, advisors, accountants and expert witnesses, which shall include, without limitation, all fees, costs and expenses of appeals; provided, however, that such Holder shall be required to pay the reasonable out-of-pocket expenses of defense of the Company (including without limitation such reasonable fees and expenses of attorneys, advisors, accountants and expert witnesses, including without limitation, the fees, costs and expenses of appeals) if the Company is the prevailing party in such actions, and in such case, the Holder shall not be entitled to receive its litigation expenses from the Company.

Appears in 2 contracts

Samples: Preferred Stock Purchase Agreement (Value America Inc /Va), Preferred Stock Purchase Agreement (Value America Inc /Va)

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Remedies at Law or in Equity. If any Default shall occur or if any representation or warranty made by or on behalf of the Company in this Agreement or in any certificate, report or other instrument delivered under or pursuant to any term hereof shall be untrue or misleading in any material respect as of the date of this Agreement or as of the Closing Date or the Subsequent Closing Date or as of the date it was made, furnished or delivered, the Holder of any Security may proceed to protect and enforce its rights by suit in equity or action at law, whether for the specific performance of any term contained in this Agreement or the Certificate or for an injunction against the breach of any such term or in aid of the exercise of any power granted in this Agreement or the Certificate, or to enforce any other legal or equitable right of such Holder of any such Securities, or to take any one or more of such actions. In the event a Holder brings such an action against the Company, the Holder shall be entitled to recover from the Company all fees, costs and expenses of enforcing any right of such Holder under or with respect to this Agreement or the Certificate, including without limitation such reasonable fees and expenses of attorneys, advisors, accountants and expert witnesses, which shall include, without limitation, all fees, costs and expenses of appeals; provided, however, that such Holder shall be required to pay the reasonable out-of-pocket expenses of defense of the Company (including without limitation such reasonable fees and expenses of attorneys, advisors, accountants and expert witnesses, including without limitation, the fees, costs and expenses of appeals) if the Company is the prevailing party in such actions, and in such case, the Holder shall not be entitled to receive its litigation expenses from the Company.

Appears in 2 contracts

Samples: Preferred Stock Purchase Agreement (Value America Inc /Va), Preferred Stock Purchase Agreement (Value America Inc /Va)

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Remedies at Law or in Equity. If any Default shall occur or if any representation or warranty made by or on behalf of the Company in this Agreement or in any certificate, report or other instrument delivered under or pursuant to any term hereof (except the Draft Disclosure Annexes (as defined in Section 6.1(c)), which shall be superseded by the Annexes to this Agreement on the Closing Date) shall be untrue or misleading in any material respect as of the date of this Agreement or as of (i) the Closing Date or (ii) except with respect to the exceptions to the representations and warranties set forth in the Annexes to this Agreement, as of the date it was made, furnished or delivered, the Holder of any Security may proceed to protect and enforce its rights by suit in equity or action at law, whether for the specific performance of any term contained in this Agreement or the Certificate or for an injunction against the breach of any such term or in aid of the exercise of any power granted in this Agreement or the Certificate, or to enforce any other legal or equitable right of such Holder of any such Securities, or to take any one or more of such actions. In the event a Holder brings such an action against the Company, the Holder shall be entitled to recover from the Company all fees, costs and expenses of enforcing any right of such Holder under or with respect to this Agreement or the Certificate, including without limitation such reasonable fees and expenses of attorneys, advisors, accountants and expert witnesses, which shall include, without limitation, all fees, costs and expenses of appeals; provided, however, that such Holder shall be required to pay the reasonable out-of-pocket expenses of defense of the Company (including without limitation such reasonable fees and expenses of attorneys, advisors, accountants and expert witnesses, including without limitation, the fees, costs and expenses of appeals) if the Company is the prevailing party in such actions, and in such case, the Holder shall not be entitled to receive its litigation fees, costs, and expenses from the Company.

Appears in 1 contract

Samples: Preferred Stock and Warrant Purchase Agreement (Value America Inc /Va)

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