Common use of Breach of Sellers’ Covenants Clause in Contracts

Breach of Sellers’ Covenants. Without prejudice to the provisions of Clause 9.5 above, in the event the Sellers fail and/or neglect to perform any of the Sellers’ Covenants, this Agreement shall, at the option of the Buyer, stand cancelled and/or rescinded, upon which the Developer shall refund to the Buyer all payments received till that date, with interest @ 12% (twelve percent) per annum, from the date of payment to the date of refund. If the Buyer opts not to cancel this Agreement, then also the Developer shall pay to the Buyer interest @ 12% (twelve percent) per annum, for the entire period of delay.

Breach of Sellers’ Covenants. Without prejudice to the provisions of Clause 9.5 above, in the event the Sellers fail and/or neglect to perform any of the Sellers’ Covenants, this Agreement shall, at the option of the BuyerBuyers, stand cancelled and/or rescinded, upon which the Developer shall refund to the Buyer Buyers all payments received till that date, with interest @ 12% (twelve percent) per annum, from the date of payment to the date of refund. If the Buyer Buyers opts not to cancel this Agreement, then also the Developer shall pay to the Buyer Buyers interest @ 12% (twelve percent) per annum, for the entire period of delay.

Breach of Sellers’ Covenants. Without prejudice to the provisions of Clause 9.5 above, in the event the Sellers fail and/or neglect to perform any of the Sellers’ Covenants, this Agreement shall, at the option of the BuyerBuyers, stand cancelled and/or rescinded, upon which the Developer shall refund to the Buyer Buyers all payments received till that date, with interest @ 12% (twelve percent) per annum, from the date of payment to the date of refund. If the Buyer opts Buyers opt not to cancel this Agreement, then also the Developer shall pay to the Buyer Buyers interest @ 12% (twelve percent) per annum, for the entire period of delay.

Breach of Sellers’ Covenants. Without prejudice to the provisions of Clause 9.5 above, in the event the Sellers fail and/or neglect to perform any of the Sellers’ Covenants, this Agreement shall, at the option of the Buyer, stand cancelled and/or rescinded, upon which the Developer shall refund to the Buyer all payments received till that date, with interest @ 1210% (twelve ten percent) per annum, from the date of payment to the date of refund. If the Buyer opts not to cancel this Agreement, then also the Developer shall pay to the Buyer interest @ 12% (twelve percent) per annum, for the entire period of delay.