Common use of By DVC Clause in Contracts

By DVC. (1) Notwithstanding the provisions hereof, if DVC shall fail or refuse to deliver any of the $25,000 purchase price, or shall fail or refuse to consummate the transaction described in this Agreement prior to the Closing Date, such failure or refusal shall constitute a default by DVC and GEL at its option and without prejudice to its rights against such defaulting party, may either (a) invoke any equitable remedies to enforce performance hereunder including, without limitation, an action or suit for specific performance, or (b) terminate all of its obligations hereunder with respect to DVC.

By DVC. (1) Notwithstanding the provisions hereof, if DVC shall fail or refuse to deliver any of the $25,000 15,000 purchase price, or shall fail or refuse to consummate the transaction described in this Agreement prior to the Closing Date, such failure or refusal shall constitute a default by DVC and GEL GEI at its option and without prejudice to its rights against such defaulting party, may either (a) invoke any equitable remedies to enforce performance hereunder including, without limitation, an action or suit for specific performance, or (b) terminate all of its obligations hereunder with respect to DVC.