Rejecting an accepted offer letter

I had accepted an offer from a company. I was about to join on 24/06/2021. But now, I have a better offer and don't want to join the previous company. The Offer of Employment that I signed while accepting the 1st offer had the following clauses:- 5. Indemnification The Executive shall defend, indemnify and hold the Company harmless from and against any and all losses, claims, liabilities, judgments and other matters, including but not limited to, reasonable attorney’s fees arising out of or incurred in connection with, a breach of any representation, warranty or covenant of the Executive under this Agreement. 6. Remedies on Breach (i) Executive agrees that upon a material breach of this Agreement by the Executive and failure by Executive to rectify such breach within the cure period of seven (7) days, only if such breach is capable of such cure or rectification, the Company shall have the right to recover all the losses and damages suffered by it and the Executive shall be liable to pay to the Company all remuneration received from the Company in addition to the compensation for the losses suffered by the Company. (ii) The Executive agrees that any negative covenants, obligations and/or undertakings given to the Company shall be specifically enforceable by injunction and any damages claimed in addition thereto shall not constitute a defense to any claim of injunction nor prevent the grant of specific relief to the Company. The Executive expressly waives the defense that damages are sufficient alternate relief to an injunction and the Executive confirms, assures and represents that each and all the negative covenants and obligations and undertakings referred to herein or separately executed in favor of the Company shall be enforceable by one or more mandatory injunctions prohibiting the breach of any covenant or compelling specific performance of any obligation or the observance of any covenant on the part of the Executive as contracted herein (whether by way of ad interim or interim relief, or otherwise by way of permanent injunction and damages). (iii) No remedy conferred by any of the provisions of this Agreement is intended to be exclusive of any other remedy which is otherwise available at law, in equity, by statute or otherwise, and each and every other remedy shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law, in equity, by statute or otherwise. The election of any one or more of such remedies by any of the Parties hereto shall not constitute a waiver by such party of the right to pursue any other available remedy. Will it be an issue if I don't join the previous company?