Breach of Buyer’s Covenants Sample Clauses

Breach of Buyer’s Covenants. In the event the Buyer (1) fails to make payment of any part or portion of the Total Price, Extras and other charges, or (2) neglects or fails to perform the Buyer's Covenants and/or the obligations on the part of the Buyer to be performed in terms of this Agreement, this Agreement shall, at the option of the Developer, stand cancelled and/or rescinded, upon which the Developer shall refund to the Buyer all payments received till that date, without any interest, after deducting 20% (twenty percent) of the Total Price. In the event the Developer condones the delay of any payment due under this Agreement, the Buyer shall be liable to pay interest @ 12% (twelve percent) per annum or part thereof (compoundable monthly), for the period of delay, computed from the date the payment became due till the date of payment. However, such right to condone is exclusively vested in the Developer and the Buyer shall not be entitled to claim the same as a matter of right.
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Breach of Buyer’s Covenants. The Purchaser acknowledges that payment of the amounts made and due performance and observance of the terms and conditions herein contained and the Purchaser further acknowledges that he/she/it is obligated to perform all the obligations in terms of this Agreement and upon breach of these clauses the Purchaser waives any cause of action and shall lose the right to insist on the specific performance of the Agreement and as such, will not be entitled to any relief whatsoever The Purchaser shall pay interest @ 18% per annum on all sums becoming due hereunder and which the Purchaser fails to pay to the Developer within the period stipulated hereunder for the period during which the Purchaser remain in default. This will be without prejudice to the other rights of the Vendor/Developer hereunder. In case the Purchaser commits default in making payment of the consideration mentioned herein or in observing his covenants herein within time then in such event, the Developer shall give one month's notice in writing to the Purchaser setting out the default or breach complained of and calling upon the Purchaser to remedy the default or breach complained of and if on the expiry of such notice, the Purchaser continues the default or breach, then this agreement shall at the option of the Developer stand terminated and rescinded and also if the Purchaser wishes to cancel and/or withdraw from the Agreement of his own volition then in both such events the Developer shall become entitled to enjoy and/or transfer the said Unit and the Car Parking Space to any person without in any way becoming liable to the Purchaser and upon the Developer having entered unto a contract for sale of the said Unit and the Car Parking Space with any new buyer or buyers, the Developer only after having entered unto a contract for sale of the said Unit and the Car Parking Space with any new buyer or buyers, only thereafter the Developer shall refund to the Purchaser the xxxxxxx money paid by the Purchaser to the Developer after deduction of a sum equivalent to 10% (ten percent) of the consideration as and by way of pre-determined compensation/liquidated damages or service charges.
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Breach of Buyer’s Covenants. In the event the Buyer (1) fails to make payment of the Total Price, Extras and other charges after allotment of the Said Unit to the Buyer for a period of more than 3 (three) months from when such payment became due, or (2) fails to perform the obligations on the part of the Buyer to be performed in terms of this Agreement, or (3) neglects to perform any of the Buyer’s Covenants, then and in such event, without prejudice to any other rights, the Developer at its sole discretion/option may, (a) continue with this Agreement and claim the amounts in default/ arrears with interest at the rate of 12% (twelve per cent) per annum from the date of default to the date of payment: or (b) in the event of the breach continuing for a period of 3 (three) months, for whatsoever reasons, the Developer, at its sole discretion, will be entitled to terminate and/or rescind this Agreement and forfeit as liquidated damages, Rs.5,00,000/- (Rupees five lac only) or 10% (ten per cent) of the amount received by the Developer under this Agreement, which ever is higher. The Developer shall thereupon, be entitled to deal, in any manner, with the Said Unit And Appurtenances including selling the same to any third party on any terms and conditions the Developer may deem fit, without any further reference to the Buyer. The balance money due to the Buyer, if any, after deduction of liquidated damages shall be paid by the Developer to the Buyer within 6 (six) months of the date of such termination. It is further clarified that Developer shall not refund the taxes paid/payable to the Government authority or any other statutory authority, in respect of the Said Unit And Appurtenances.
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Breach of Buyer’s Covenants. In the event the Buyer fails and/or neglects to perform any of the Buyer’s Covenants, this Agreement shall, at the option of the Developer, stand cancelled and/or rescinded, upon which the Developer shall refund to the Buyer all payments received till the date of such cancellation, after deducting 10% (ten percent) of the actual amount paid by the Buyer, till the date of such cancellation, as liquidated damages. In the event the Developer condones the delay of any payment due under this Agreement, the Buyer shall be liable to pay interest @ 15% per annum for the period of delay on all amounts due and outstanding. However, such right of condonation is exclusively vested in the Developer.
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Breach of Buyer’s Covenants. 16 12.2 Breach of Owners’ And Developer’s Covenants 16 12.3 Effect 16 13.1 Obligation Regarding Taxes 16 14.1 Decision of Architect Final 16 15.1 Rules of Use 16 15.2 Restrictions 16 16.1 Circumstances Of Force Majeure 16 16.2 No Default 17 17.1 Indian Law 17 17.2 One Transaction 17 17.3 Confidentiality and Xxx-Xxxxxxxxxx 00 17.4 Partial Invalidity 17 17.5 No Claim of Un-Enforceability 17 17.6 Right of Possession 17 17.7 Nomination by Buyer with Consent 17 17.7.1 Buyer to Make Due Payments 17 17.7.2 Written Permission of Developer 17 17.7.3 Additional Legal Fee 17 17.7.4 No Nomination Charges for Parent, Spouse and Children 17 17.8 Entire Agreement 17 17.9 Counterparts 17 17.10 Amendments/Modifications 17 17.11 Reservation of Rights 17 17.12 Waiver 18 17.13 No Agency 18 18.1 Mode of Service 18 19.1 Disputes 18 19.1.1 Constitution of Arbitral Tribunal 18 19.1.2 Place 18 19.1.3 Language 18 19.1.4 Binding Effect 18 19.2 No Legal Proceeding without Recourse to Arbitration 18 20.1 District Judge and High Court 18 21.1 Number and Gender 18 21.2 Headings 18 21.3 Schedules and Plans 18 21.4 Definitions 18 21.5 Documents 18 21.6 Successors 18 21.7 Statutes 18 1st Schedule Said Property 19 2nd Schedule 19 3rd Schedule Common Portions 19 4th Schedule Specifications 20 5th Schedule Common Expenses/Maintenance Charges 20 22.1 In Witness Whereof 21 Plan A 22 Plan B: Xxxxxxx Xxxxx Xxxx - Xxxxx (0xx Xxxxx) 23 Plan B: Xxxxxxx Xxxxx Xxxx - Xxxxx (0xx-0xx, 0xx, 0xx, 10th, 12th, 13th, 18th & 19th Floors) 24 Plan B: Typical Floor Plan - Azure (6th, 8th, 11th & 17th Floors) 25 Plan B: Typical Floor Plan - Azure (14th & 16th Floors) 26 Plan B: Xxxxxxx Xxxxx Xxxx - Xxxxx (00xx Xxxxx) 27 Plan B: Xxxxxxx Xxxxx Xxxx - Xxxx (0xx Xxxxx) 28 Plan B: Xxxxxxx Xxxxx Xxxx - Xxxx (0xx-0xx, 0xx, 0xx, 10th, 12th, 13th, 18th & 19th Floors) 29 Plan B: Typical Floor Plan - Aqua (6th, 8th, 11th & 17th Floors) 30 Plan B: Typical Floor Plan - Aqua (14th & 16th Floors) 31 Plan B: Xxxxxxx Xxxxx Xxxx - Xxxx (00xx Xxxxx) 32 1. Date: 2. Place: Kolkata
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Breach of Buyer’s Covenants. In the event the Buyer (1) fails to make payment of the Total Price to the Owner and any other amount payable to the Sellers hereunder, or (2) fails to perform the obligations on the part of the Buyer to be performed in terms of this Agreement or (3) neglects to perform any of the Buyer's Covenants, this Agreement shall, at the option of the Owners, stand cancelled and/or rescinded, upon which the Owners shall refund to the Buyer all payments received till that date, without any interest, after deducting 10% (ten percent) of the Total Price and the Developer shall refund the extra charges, if any received from the Buyer till that date.. Payments made by the Buyer for up-gradation shall be non-refundable. In the event the Owners condone the delay of any payment due under this Agreement, the Buyer shall be liable to pay interest @ 18% (eighteen percent) per annum for the period of delay (computed from the date the payment became due till the date of payment) on all amounts due and outstanding. However, such right of condonation is exclusively vested in the Owners and the Buyer shall not be entitled to claim the same as a matter of right.
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Breach of Buyer’s Covenants. In the event the Buyer (1) fails to make payment of any part or portion of the Total Price, Extras and other charges, or
Sample 1
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Breach of Buyer’s Covenants. In the event the Buyer (1) fails to make payment of any part or portion of the Total Consideration, Extras and other charges, or (2) neglects or fails to perform the Buyer’s Covenants and/or the obligations on the part of the Buyer to be performed in terms of this Agreement, this Agreement shall, at the option of the Owner , stand cancelled and/or rescinded, upon which the Owner shall refund to the Buyer all payments received till that date, without any interest, after deducting 10% (ten percent) of the Total Consideration, within 60 (sixty) days. In the event the Owner condones the delay of any payment due under the terms of this Agreement, the Buyer shall be liable to pay interest @ 1.5% (one point five percent) per month or part thereof (compoundable monthly), for the period of delay, computed from the date the payment became due till the date of payment. However, such right to condone is exclusively vested upon the Owner and the Buyer shall not be entitled to claim the same as a matter of right.
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Breach of Buyer’s Covenants 
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Related to Breach of Buyer’s Covenants

  • Breach of Covenants If the Company breaches any of the covenants set forth in this Section 4, and in addition to any other remedies available to the Buyer pursuant to this Agreement, it will be considered an event of default under Section 3.4 of the Note.

  • Breach of Specific Covenants Borrower shall fail or neglect to perform, keep or observe any covenant contained in Sections 5.2, 5.3, 6.1.1, 6.1.2, 6.2.5, 6.2.6, 8.1, 8.2 or 8.3 hereof on the date that Borrower is required to perform, keep or observe such covenant.

  • REMEDIES UPON BREACH OF REPRESENTATIONS AND WARRANTIES MADE BY SELLER It is hereby acknowledged that Seller shall make for the benefit of the Trustee on behalf of the holders of the Certificates, whether directly or by way of Purchaser's assignment of its rights hereunder to the Trustee, the representations and warranties set forth on Exhibit 2 hereto (each as of the date hereof unless otherwise specified).

  • Breach by Seller In the event Seller shall fail to fully and timely perform any of its obligations hereunder or shall fail to consummate the sale of the Property for any reason, except Purchaser’s default, Purchaser may: (1) enforce specific performance of this Contract; or (2) request that the Escrow Deposit, if any, shall be forthwith returned by the title company to Purchaser.

  • Breach of Covenant The Borrower breaches any material covenant or other term or condition of this Note or the Purchase Agreement in any material respect and such breach, if subject to cure, continues for a period of thirty (30) days after the occurrence thereof.

  • No Misrepresentation or Breach of Covenants and Warranties (a) There shall have been no material breach by any ACME Entity in the performance of any of its respective covenants and agreements contained herein. (b) Each of the representations and warranties of the ACME Entities contained or referred to herein that is not qualified as to materiality or Material Adverse Effect shall be true and correct in all material respects on the Closing Date as though made on the Closing Date (except to the extent that they expressly speak as of a specific date or time other than the Closing Date, in which case they need only have been true and correct in all material respects as of such specified date or time), and each of the representations and warranties of the ACME Entities contained or referred to herein that is qualified as to materiality or Material Adverse Effect shall be true and correct in all respects on the Closing Date as though made on the Closing Date, except in any case for changes therein specifically permitted by this Agreement or resulting from any transaction expressly consented to in writing by Buyer. (c) The ACME Entities shall have delivered to Buyer certificates, dated as of the Closing Date, signed on behalf of each ACME Entity by its respective President or any Vice President, certifying that the conditions described in subsections (a) and (b) above have been satisfied.

  • BREACH BY PURCHASER In the event Purchaser should fail to consummate the purchase of the Property, the conditions to Purchaser’s obligations set forth in Article III having been satisfied and Purchaser being in default and Seller not being in default hereunder, Seller shall have the right to receive the Escrow Deposit, if any, from the title company, the sum being agreed on as liquidated damages for the failure of Purchaser to perform the duties, liabilities, and obligations imposed upon it by the terms and provisions of this Contract, and Seller agrees to accept and take this cash payment as its total damages and relief and as Seller’s sole remedy hereunder in such event. If no Escrow Deposit has been made then Seller shall receive the amount of $500 as liquidated damages for any failure by Purchaser.

  • Breach of Other Covenants Any of the Loan Parties shall default in the observance or performance of any other covenant, condition or provision hereof or of any other Loan Document and such default shall continue unremedied for a period of ten (10) Business Days;

  • Remedies for Breach of Representations and Warranties It is understood and agreed that the representations and warranties set forth in Subsections 9.01 and 9.02 shall survive the sale of the Mortgage Loans to the Purchaser and shall inure to the benefit of the Purchaser, notwithstanding any restrictive or qualified endorsement on any Mortgage Note or Assignment of Mortgage or the examination or failure to examine any Mortgage File. With respect to any representation or warranty contained in Subsections 9.01 or 9.02 hereof that is made to the Seller's knowledge, if it is discovered by the Purchaser that the substance of such representation and warranty was inaccurate as of the related Closing Date and such inaccuracy materially and adversely affects the value of the related Mortgage Loan, then notwithstanding the Seller's lack of knowledge with respect to the inaccuracy at the time the representation or warranty was made, such inaccuracy shall be deemed a breach of the applicable representation or warranty. Upon discovery by either the Seller or the Purchaser of a breach of any of the foregoing representations and warranties, the party discovering such breach shall give prompt written notice to the other relevant parties. Within sixty (60) days after the earlier of either discovery by or notice to the Seller of any breach of a representation or warranty, which materially and adversely affects the value of the Mortgage Loans or the interest of the Purchaser therein (or which materially and adversely affects the value of the applicable Mortgage Loan or the interest of the Purchaser therein in the case of a representation and warranty relating to a particular Mortgage Loan), the Seller shall use its best efforts promptly to cure such breach in all material respects and, if such breach cannot be cured, the Seller shall, at the Purchaser's option, repurchase such Mortgage Loan or Mortgage Loans at the Repurchase Price. Notwithstanding the above sentence, (i) within sixty (60) days after the earlier of either discovery by, or notice to, the Seller of any breach of the representation and warranty set forth in clause (vv) of Subsection 9.02, the Seller shall repurchase such Mortgage Loan at the Repurchase Price and (ii) any breach of a Deemed Material and Adverse Representation shall automatically be deemed to materially and adversely affects the value of the Mortgage Loans or the interest of the Purchaser therein. In the event that a breach shall involve any representation or warranty set forth in Subsection 9.01, and such breach cannot be cured within 60 days of the earlier of either discovery by or notice to the Seller of such breach, all of the Mortgage Loans affected by such breach shall, at the Purchaser's option, be repurchased by the Seller at the Repurchase Price. However, if the breach shall involve a representation or warranty set forth in Subsection 9.02 (except as provided in the second sentence of this paragraph with respect to certain breaches for which no substitution is permitted) and the Seller discovers or receives notice of any such breach within 120 days of the related Closing Date, the Seller shall, at the Purchaser's option and provided that the Seller has a Qualified Substitute Mortgage Loan, rather than repurchase the Mortgage Loan as provided above, remove such Mortgage Loan and substitute in its place a Qualified Substitute Mortgage Loan or Qualified Substitute Mortgage Loans, provided, however, that any such substitution shall be effected within such one hundred twenty (120) days after the related Closing Date. If the Seller has no Qualified Substitute Mortgage Loan, it shall repurchase the deficient Mortgage Loan at the Repurchase Price. Any repurchase of a Mortgage Loan pursuant to the foregoing provisions of this Subsection 9.03 shall occur on a date designated by the Purchaser, and acceptable to Seller, and shall be accomplished by either (a) if the Interim Servicing Agreement has been entered into and is in effect, deposit in the Custodial Account of the amount of the Repurchase Price for distribution to the Purchaser on the next scheduled Remittance Date, after deducting therefrom any amount received in respect of such repurchased Mortgage Loan or Loans and being held in the Custodial Account for future distribution or (b) if the Interim Servicing Agreement has not been entered into or is no longer in effect, by direct remittance of the Repurchase Price to the Purchaser or its designee in accordance with the Purchaser's instructions. At the time of repurchase of any deficient Mortgage Loan (or removal of any Deleted Mortgage Loan), the Purchaser and the Seller shall arrange for the reassignment of the repurchased Mortgage Loan (or Deleted Mortgage Loan) to the Seller or its designee and the delivery to the Seller of any documents held by the Custodian relating to the repurchased Mortgage Loan (or Deleted Mortgage Loan). In the event of a repurchase or substitution, the Seller shall, simultaneously with such reassignment, give written notice to the Purchaser that such repurchase or substitution has taken place, amend the Mortgage Loan Schedule to reflect the withdrawal of the Deleted Mortgage Loan from this Agreement, and, in the case of substitution, identify a Qualified Substitute Mortgage Loan and amend the related Mortgage Loan Schedule to reflect the addition of such Qualified Substitute Mortgage Loan to this Agreement. In connection with any such substitution, the Seller shall be deemed to have made as to such Qualified Substitute Mortgage Loan the representations and warranties set forth in this Agreement except that all such representations and warranties set forth in this Agreement shall be deemed made as of the date of such substitution. The Seller shall effect such substitution by delivering to the Custodian or to such other party as the Purchaser may designate in writing for such Qualified Substitute Mortgage Loan the documents required by Subsection 6.03 and the Custodial Agreement, with the Mortgage Note endorsed as required by Subsection 6.03 and the Custodial Agreement. No substitution will be made in any calendar month after the Determination Date for such month. The Seller shall cause the Interim Servicer to remit directly to the Purchaser, or its designee in accordance with the Purchaser's instructions the Monthly Payment less the Servicing Fee due, if any, on such Qualified Substitute Mortgage Loan or Loans in the month following the date of such substitution. Monthly Payments due with respect to Qualified Substitute Mortgage Loans in the month of substitution shall be retained by the Seller. For the month of substitution, distributions to the Purchaser shall include the Monthly Payment due on any Deleted Mortgage Loan in the month of substitution, and the Seller shall

  • Breach of Representations and Warranties Any material representation or warranty of the Borrower made herein, in the Subscription Agreement, or in any agreement, statement or certificate given in writing pursuant hereto or in connection therewith shall be false or misleading in any material respect as of the date made and the Closing Date.

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