EQUITABLE REMEDIES
Other Names: Remedies • Equitable Remedy • Equitable Relief • Specific Performance • No Injunctive Relief • No Equitable Relief • Right to Injunctive Relief • Availability of Injunctive Relief
Sample Clause Language:
Notwithstanding any other provision to the contrary contained in this Agreement, each Party acknowledges and agrees that (i) monetary damages at law are a fully adequate remedy to compensate the other Party for any breach or threatened breach of this Agreement, and (ii) an action at law for monetary damages is such Party’s sole and exclusive remedy for any such breach. No breach by any Party of this Agreement will entitle the other Party to equitable relief, including specific performance, injunctive relief, rescission or any other form of equitable remedy.
Source: EPR Properties (2016, November 3). Form 8-K. Retrieved from SEC EDGAR website http://www.sec.gov/edgar.shtml
Description:
Equitable Remedies clauses indicate whether a party is entitled to equitable remedies (e.g., injunction). The sample clause here is mutual and drafted to be neutral. The clause does not allow equitable relief to any party. Specifically, all parties are restricted from obtaining equitable remedies (e.g., specific performance, injunction, etc.) and are limited to monetary damages only.
Common Contracts with this Clause:
- All Commercial Agreements
What you'll see with Lawgood:
Four (4) Alternative Positions
- Unilateral (No Equitable Relief)
- Unilateral (Equitable Relief)
- Mutual (Equitable Relief)
- Mutual (No Equitable Relief)
Draft better contracts with Lawgood.