Common use of Buyer’s Default Clause in Contracts

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned shall be released to the Sellers. If the deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 94 contracts

Samples: Memorandum of Agreement (DryShips Inc.), Memorandum of Agreement (DryShips Inc.), Memorandum of Agreement (DryShips Inc.)

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Buyer’s Default. Should the deposit Deposit not be paid lodged in accordance with Clause 22 (Deposit), the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 33 (Payment), the Sellers have the right to cancel the this Agreement, in which case the deposit Deposit together with interest earned earned, if any, shall be released to the Sellers. If the deposit Deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 29 contracts

Samples: Memorandum of Agreement for Sale and Purchase of Ships (United Maritime Corp), Memorandum of Agreement, Memorandum of Agreement

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned shall be released to the Sellers. If It the deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 10 contracts

Samples: Memorandum of Agreement (Quintana Maritime LTD), Memorandum of Agreement (Quintana Maritime LTD), Memorandum of Agreement (Quintana Maritime LTD)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interestinterest at 10 percent per annum. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned shall be released to the Sellers. If the deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interestinterest at 10 percent per annum.

Appears in 8 contracts

Samples: Memorandum of Agreement (General Maritime Corp / MI), Memorandum of Agreement (General Maritime Corp / MI), Memorandum of Agreement (General Maritime Corp / MI)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, 2 the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned shall be released to the Sellers. If the deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 6 contracts

Samples: Memorandum of Agreement for Sale and Purchase of Ships (FreeSeas Inc.), Memorandum of Agreement for Sale and Purchase of Ships (FreeSeas Inc.), Memorandum of Agreement for Sale and Purchase of Ships (FreeSeas Inc.)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned shall be released to the Sellers. If the deposit does not cover their loss, the The Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 4 contracts

Samples: Memorandum of Agreement (Mc Shipping Inc), Memorandum of Agreement (Mc Shipping Inc), Memorandum of Agreement (Mc Shipping Inc)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred as documentarily evidenced together with interest. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned shall be released to the Sellers. If the deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred as documentarily evidenced together with interest.

Appears in 4 contracts

Samples: Memorandum of Agreement (Teekay Tankers Ltd.), Memorandum of Agreement (Teekay Tankers Ltd.), Memorandum of Agreement (Teekay Tankers Ltd.)

Buyer’s Default. Should the deposit Deposit not be paid lodged in accordance with Clause 22 (Deposit), the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid settledpaid in accordance with Clause 319Clause 3 (Payment), the Sellers have the right to cancel the this Agreement., in which case the deposit Deposit together with interest earned earned, if any, shall be released to the Sellers. If the deposit Deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 3 contracts

Samples: Memorandum of Agreement, Memorandum of Agreement (Hemen Holding LTD), Memorandum of Agreement (Hemen Holding LTD)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the this Agreement, in which case the deposit together with interest earned shall be released to the Sellers. If the deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 2 contracts

Samples: Memorandum of Agreement for Sale and Purchase of Ships (Genco Shipping & Trading LTD), Memorandum of Agreement (General Maritime Ship Holdings LTD)

Buyer’s Default. Should the deposit Deposit not be paid lodged in accordance with Clause 22 (Deposit), the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 33 (Payment), the Sellers have the right to cancel the this Agreement, in which case the deposit Deposit together with interest earned earned, if any, shall be released to the Sellers. If the deposit Deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and all actual, properly documented and direct for all expenses incurred by the Sellers together with interest.

Appears in 2 contracts

Samples: Memorandum of Agreement (DryShips Inc.), Memorandum of Agreement (DryShips Inc.)

Buyer’s Default. Should the deposit Deposit not be paid lodged in accordance with Clause 22 (Deposit), the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their proven losses and for all reasonable expenses incurred together with interest. (agreed) Should the Purchase Price not be paid in accordance with Clause 33 (Payment), the Sellers have the right to cancel the this Agreement, in which case the deposit Deposit together with interest earned earned, if any, shall be released to the Sellers. If the deposit Deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their proven losses and for all reasonable expenses incurred together with interest.

Appears in 2 contracts

Samples: Memorandum of Agreement for Sale and Purchase of Ships (DryShips Inc.), Memorandum of Agreement for Sale and Purchase of Ships (DryShips Inc.)

Buyer’s Default. Should the deposit Deposit not be paid lodged in accordance with Clause 22 (Deposit), the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 33 (Payment), the Sellers have the right to cancel the this Agreement, in which case the deposit Deposit together with interest earned earned, if any, shall be released to the Sellers. If the deposit Deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all all actual, properly documented and direct expenses incurred by the Sellers together with interest.

Appears in 2 contracts

Samples: Memorandum of Agreement (DryShips Inc.), Memorandum of Agreement (DryShips Inc.)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred Incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned shall be released to the Sellers. If the deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 2 contracts

Samples: Memorandum of Agreement for Sale and Purchase of Ships (Oceanfreight Inc.), Memorandum of Agreement for Sale and Purchase of Ships (Oceanfreight Inc.)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interestcontract. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the this Agreement, in which case the deposit together with interest earned shall amount deposited will be released to kept by the Sellers. If the deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 2 contracts

Samples: Memorandum of Agreement, Memorandum of Agreement

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned shall be released to the Sellers. If the deposit does not cover their loss, the Tthe Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 1 contract

Samples: Memorandum of Agreement (Teekay Offshore Partners L.P.)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not to be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned shall be released to the Sellers. If the deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 1 contract

Samples: Memorandum of Agreement (Omega Navigation Enterprises, Inc.)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement., in which case the deposit together with interest earned shall be released to the Sellers. If the deposit does not cover their loss, the Sellers Seller shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 1 contract

Samples: Purchase Option Agreement (Exmar Energy Partners LP)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, . the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in In accordance with Clause 3, the Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned shall be released to the Sellers. If the deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 1 contract

Samples: Memorandum of Agreement (Quintana Maritime LTD)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. interest Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned shall be released to the Sellers. If the deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 1 contract

Samples: Memorandum of Agreement for Sale and Purchase of Ships (StealthGas Inc.)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned shall be released to the Sellers. If the deposit does not cover their loss, the Sellers shall be entitled to claim further runner compensation for their losses and for all expenses incurred together with interest.

Appears in 1 contract

Samples: Memorandum of Agreement (Alma Maritime LTD)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreementcontract, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price Money not be paid in accordance with Clause 3, the Sellers have the right to cancel the this Agreement, in which case the deposit amount deposited together with interest earned shall be released to the Sellers. If the deposit does not cover their loss, the Sellers they shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 1 contract

Samples: Sales Contract

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned shall be ipso facts considered released to the Sellers. If the deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 1 contract

Samples: Memorandum of Agreement for Sale and Purchase of Ships (Freeseas Inc.)

Buyer’s Default. Should the deposit Deposit not be paid lodged in accordance with Clause 22 (Deposit), the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 33 (Payment), the Sellers have the right to cancel the this Agreement., in which case the deposit Deposit together with interest earned earned, if any, shall be released to the Sellers. If the deposit Deposit does not cover their loss, the tThe Sellers shall be entitled to claim further compensation for their losses and direct for all expenses incurred together with interest.

Appears in 1 contract

Samples: Memorandum of Agreement (DryShips Inc.)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned shall be released to the Sellers. If the deposit does not cover their loss, the Sellers shall be entitled to claim further compensation Compensation for their losses and for all expenses incurred together with interest.

Appears in 1 contract

Samples: Memorandum of Agreement for Sale and Purchase of Ships (Safe Bulkers, Inc.)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned shall be released to the Sellers. If the deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all ail expenses incurred together with interest.

Appears in 1 contract

Samples: Memorandum of Agreement (Genco Shipping & Trading LTD)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interestinterest at 10 percent per annum. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in In which case the deposit together with interest earned shall be released to the Sellers. If the deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interestinterest at 10 percent per annum.

Appears in 1 contract

Samples: Memorandum of Agreement (Baltic Trading LTD)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses expense incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned shall be released to the Sellers. If the deposit does not cover their lossloss , the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 1 contract

Samples: Memorandum of Agreement (Tsakos Energy Navigation LTD)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, Agreement and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, Agreement in which case the deposit together with interest earned shall be released to the Sellers. If the deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 1 contract

Samples: Memorandum of Agreement (Quintana Maritime LTD)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned shall be released to the Sellers. If * Notes, if any, in the deposit does surveyors report which are accepted by the Classification Society without condition/recommendation are not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interesttaken into account.

Appears in 1 contract

Samples: Memorandum of Agreement (Quintana Maritime LTD)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, Agreement and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned shall be released to the Sellers. If the deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 1 contract

Samples: Memorandum of Agreement (U.S. Shipping Partners L.P.)

Buyer’s Default. Should the deposit not be paid in accordance accordance) with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned shall be released to the Sellers. If the deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 1 contract

Samples: Memorandum of Agreement for Sale and Purchase of Ships (Star Bulk Carriers Corp.)

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Buyer’s Default. Should the deposit Deposit not be paid lodged in accordance with Clause 22 (Deposit), the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be settled paid in accordance with Clause 320Clause 3 (Payment), the Sellers have the right to cancel the this Agreement., in which case the deposit Deposit together with interest earned earned, if any, shall be released to the Sellers. If the deposit Deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred expensesincurred together with interest.

Appears in 1 contract

Samples: Transaction Agreement (Frontline LTD /)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred Incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned shall be released to the Sellers. If the deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.the

Appears in 1 contract

Samples: Memorandum of Agreement for Sale and Purchase of Ships (Genco Shipping & Trading LTD)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 217 of this Agreement, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 318 of this Agreement, the Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned shall be released to the Sellers. If the deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 1 contract

Samples: Memorandum of Agreement for Sale and Purchase of Ships (Genco Shipping & Trading LTD)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. interest Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned shall be released to the Sellers. , If the deposit does not cover their loss, the Sellers shall be entitled to claim earn further compensation for their losses and for all expenses incurred together with interest.

Appears in 1 contract

Samples: Memorandum of Agreement (Quintana Maritime LTD)

Buyer’s Default. Should the deposit Deposit not be paid lodged in accordance with Clause 22 (Deposit), the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 33 (Payment), the Sellers have the right to cancel the this Agreement, in which case the deposit Deposit together with interest earned earned, if any, shall be released to the Sellers. If the deposit Deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 1 contract

Samples: Memorandum of Agreement (DryShips Inc.)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all their expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned shall be released to the Sellers. If the deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all their expenses incurred together with interest.

Appears in 1 contract

Samples: Memorandum of Agreement for Sale and Purchase of Ships (Danaos Corp)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all their expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in In which case the deposit together with interest earned shall be released to the Sellers. If the deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all their expenses incurred together with interest.

Appears in 1 contract

Samples: Memorandum of Agreement for Sale and Purchase of Ships (Danaos Corp)

Buyer’s Default. Should the deposit Deposit not be paid lodged in accordance with Clause 22 (Deposit), the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 33 (Payment), the Sellers have the right to cancel the this Agreement, in which case the deposit Deposit, together with interest earned earned, if any, shall be released to the Sellers. If the deposit Deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 1 contract

Samples: Vessel Option Agreement (Exmar Energy Partners LP)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled entitled-to claim compensation for their losses and for all expenses expense incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned shall be released to the Sellers. If the deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 1 contract

Samples: Memorandum of Agreement (Star Bulk Carriers Corp.)

Buyer’s Default. (a) Should the deposit Deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. interest there on. (b) Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned Deposit shall be released returned to the Sellers. If the deposit Deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 1 contract

Samples: Memorandum of Agreement (Golar LNG LTD)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned shall be released to the Sellers. If the deposit does not cover their loss, the Sellers and shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 1 contract

Samples: Memorandum of Agreement for Sale and Purchase of Ships (Navios Maritime Holdings Inc.)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in which case the deposit together with interest Interest earned shall be released to the Sellers. If the deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 1 contract

Samples: Memorandum of Agreement (Quintana Maritime LTD)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned shall be released to the Sellers. If the deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 1 contract

Samples: Memorandum of Agreement for Sale and Purchase of Ships (General Maritime Ship Holdings LTD)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned shall be released to the Sellers. If the deposit does not cover their lossloss , the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 1 contract

Samples: Memorandum of Agreement (Tsakos Energy Navigation LTD)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 3, 3 the Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned shall be released to the Sellers. If , if the deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 1 contract

Samples: Memorandum of Agreement (Omega Navigation Enterprises, Inc.)

Buyer’s Default. Should the deposit Deposit not be paid lodged in accordance with Clause 22 (Deposit), the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 33 (Payment), the Sellers have the right to cancel the this Agreement., in which case the deposit Deposit together with interest earned earned, if any, shall be released to the Sellers. If the deposit Deposit does not cover their loss, the tThe Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred by the Sellers together with interest.

Appears in 1 contract

Samples: Memorandum of Agreement for Sale and Purchase of Ships (DryShips Inc.)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the Agreement, in . In which case the deposit together with interest earned shall be released to the Sellers. If the deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 1 contract

Samples: Memorandum of Agreement (Britannia Bulk PLC)

Buyer’s Default. Should the 20 per cent deposit not be paid in accordance with Clause 22 hereof, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred Incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 33 hereof, the Sellers have the right to cancel the Agreement, in which case the deposit together with interest earned shall be released to the Sellers. If the 20 per cent deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 1 contract

Samples: Memorandum of Agreement for Sale and Purchase of Ships (Safe Bulkers, Inc.)

Buyer’s Default. Should the deposit Deposit not be paid lodged in accordance with Clause 22 (Deposit), the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses expense incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 33 (Payment), the Sellers have the right to cancel the this Agreement, in which case the deposit Deposit together with interest earned earned, if any, shall be released to the Sellers. If the deposit Deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 1 contract

Samples: Memorandum of Agreement (Seanergy Maritime Holdings Corp.)

Buyer’s Default. Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this Agreement, and they shall be entitled to claim compensation for their losses and for all expenses incurred together with interest. Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to cancel the xxxxx Agreement, in which case the deposit together with interest earned shall be released to the Sellers. If the deposit does not cover their loss, the Sellers shall be entitled to claim further compensation for their losses and for all expenses incurred together with interest.

Appears in 1 contract

Samples: Memorandum of Agreement (Alma Maritime LTD)

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