Common use of Default by Buyer Clause in Contracts

Default by Buyer. If, prior to Closing, Buyer fails to make any payment when it is due or fails to keep any of Buyer's other promises or agreements contained in this Agreement, then Seller will have the right, at Seller's sole option and in addition to any other rights contained herein, to do any one or more of the following: (a) Seller may cancel this Agreement by giving Xxxxx written notice of cancellation and Seller may keep all sums paid by Buyer under this Agreement as "liquidated damages" (i.e., the amount agreed to by Xxxxx and Seller as properly payable in settlement for breach of contract), and not as a penalty. Without limiting the generality of the foregoing, Xxxxx understands and acknowledges that if Buyer defaults under this Agreement, Seller may keep the Option Deposit in addition to all other sums paid by Buyer under this Agreement. If Seller cancels this Agreement, Xxxxx agrees that it will be difficult and expensive to determine the amount of loss or damage Seller will suffer. This is because of, among other things, Xxxxxx's commitments relating to the financing of the Project, the effect of default and cancellation of one sale on other unit sales, and the nature of the real estate market in Hawaii. Xxxxx agrees that the sums paid by Xxxxx under this Agreement are a reasonable estimate of a fair payment to Seller for Seller's loss or damage resulting from Xxxxx's default. (b) Seller may file a lawsuit for damages. (c) Seller may file a lawsuit for "specific performance" (in other words, a lawsuit to make Buyer keep all of Buyer's promises and agreements, including, without limitation, closing the purchase of the Property). (d) Seller may take advantage of any other rights which the law allows or which Seller may have under this Agreement. Xxxxx also agrees to pay for all costs, including Seller's reasonable lawyers' fees (for both in-house and outside counsel) and the escrow cancellation fee, which are incurred because of Buyer's default.

Default by Buyer. If, prior to ClosingIn the event the Closing and the consummation of the transactions contemplated herein do not occur as provided herein by reason of any default of Buyer, Buyer fails and Seller agree it would be impractical and extremely difficult to make any payment when it is due or fails to keep any of Buyer's other promises or agreements contained in this Agreement, then fix the damages which Seller will have the right, at Seller's sole option may suffer. Buyer and in addition to any other rights contained herein, to do any one or more of the following: Seller hereby agree that (a) Seller may cancel this Agreement by giving Xxxxx written notice of cancellation and Seller may keep all sums paid by Buyer under this Agreement as "liquidated damages" (i.e., the an amount agreed to by Xxxxx and Seller as properly payable in settlement for breach of contract), and not as a penalty. Without limiting the generality of the foregoing, Xxxxx understands and acknowledges that if Buyer defaults under this Agreement, Seller may keep the Option Deposit in addition to all other sums paid by Buyer under this Agreement. If Seller cancels this Agreement, Xxxxx agrees that it will be difficult and expensive to determine the amount of loss or damage Seller will suffer. This is because of, among other things, Xxxxxx's commitments relating equal to the financing of the ProjectXxxxxxx Money, the effect of default and cancellation of one sale on other unit salestogether with all interest accrued thereon, and the nature of the real estate market in Hawaii. Xxxxx agrees that the sums paid by Xxxxx under this Agreement are is a reasonable estimate of a fair payment the total net detriment Seller would suffer in the event Buyer defaults and fails to Seller for Seller's loss or damage resulting from Xxxxx's default. (b) Seller may file a lawsuit for damages. (c) Seller may file a lawsuit for "specific performance" (in other words, a lawsuit to make Buyer keep all of Buyer's promises and agreements, including, without limitation, closing complete the purchase of the Property). , and (db) such amount will be the full, agreed and liquidated damages for Buyer’s default and failure to complete the purchase of the Property, and will be Seller’s sole and exclusive remedy (whether at law or in equity) for any default of Buyer resulting in the failure of consummation of the Closing, whereupon this Agreement will terminate, and Seller may take advantage expressly waives its rights to seek damages in the event of Buyer’s default except as otherwise provided hereunder. In such event, at Seller’s request, Buyer shall immediately direct the Escrow Agent to release the Xxxxxxx Money to Seller. Buyer will have no further rights or obligations hereunder, except with respect to the Termination Surviving Obligations. The payment of such amount as liquidated damages is not intended as a forfeiture or penalty but is intended to constitute liquidated damages to Seller. Notwithstanding the foregoing, nothing contained herein will limit Seller’s remedies at law, in equity or as herein provided in the event of a breach by Buyer of any other rights which of the law allows or which Seller may have under this Agreement. Xxxxx also agrees to pay for all costs, including Seller's reasonable lawyers' fees (for both in-house and outside counsel) and the escrow cancellation fee, which are incurred because of Buyer's defaultTermination Surviving Obligations.

Default by Buyer. If, prior to Closing, Buyer fails to make any payment when it is due or fails to keep any of Buyer's other promises or agreements contained in this Agreement, then Seller will have the right, at Seller's sole option and in addition to any other rights contained herein, to do any one or more of the following:: Specimen (a) Seller may cancel this Agreement by giving Xxxxx written notice of cancellation and Seller may keep all sums paid by Buyer under this Agreement as "liquidated damages" (i.e., the amount agreed to by Xxxxx and Seller as properly payable in settlement for breach of contract), and not as a penalty. Without limiting the generality of the foregoing, Xxxxx understands and acknowledges that if Buyer defaults under this Agreement, Seller may keep the Option Deposit in addition to all other sums paid by Buyer under this Agreement. If Seller cancels this Agreement, Xxxxx agrees that it will be difficult and expensive to determine the amount of loss or damage Seller will suffer. This is because of, among other things, Xxxxxx's commitments relating to the financing of the Project, the effect of default and cancellation of one sale on other unit sales, and the nature of the real estate market in Hawaii. Xxxxx agrees that the sums paid by Xxxxx under this Agreement are a reasonable estimate of a fair payment to Seller for Seller's loss or damage resulting from Xxxxx's default. (b) Seller may file a lawsuit for damages. (c) Seller may file a lawsuit for "specific performance" (in other words, a lawsuit to make Buyer keep all of Buyer's promises and agreements, including, without limitation, closing the purchase of the Property). (d) Seller may take advantage of any other rights which the law allows or which Seller may have under this Agreement. Xxxxx also agrees to pay for all costs, including Seller's reasonable lawyers' fees (for both in-house and outside counsel) and the escrow cancellation fee, which are incurred because of Buyer's default.

Default by Buyer. If, prior to Closing, Buyer fails to make any payment when it is due or fails to keep any of Buyer's other promises or agreements contained in this Agreement, then Seller will have the right, at Seller's sole option and in addition to any other rights contained herein, to do any one or more of the following: (a) Seller may cancel this Agreement by giving Xxxxx written notice of cancellation and Seller may keep all sums paid by Buyer under this Agreement as "liquidated damages" (i.e., the amount agreed to by Xxxxx and Seller as properly payable in settlement for breach of contract), and not as a penalty. Without limiting the generality of the foregoing, Xxxxx understands and acknowledges that if Buyer defaults under this Agreement, Seller may keep the Option Deposit in addition to all other sums paid by Buyer under this Agreement. If Seller cancels this Agreement, Xxxxx agrees that it will be difficult and expensive to determine the amount of loss or damage Seller will suffer. This is because of, among other things, Xxxxxx's commitments relating to the financing of the Project, the effect of default and cancellation of one sale on other unit sales, and the nature of the real estate market in Hawaii. Xxxxx agrees that the sums paid by Xxxxx under this Agreement are a reasonable estimate of a fair payment to Seller for Seller's loss or damage resulting from Xxxxx's default. (b) Seller may file a lawsuit for damages.. SPECIMEN (c) Seller may file a lawsuit for "specific performance" (in other words, a lawsuit to make Buyer keep all of Buyer's promises and agreements, including, without limitation, closing the purchase of the Property). (d) Seller may take advantage of any other rights which the law allows or which Seller may have under this Agreement. Xxxxx also agrees to pay for all costs, including Seller's reasonable lawyers' fees (for both in-house and outside counsel) and the escrow cancellation fee, which are incurred because of Buyer's default.

Default by Buyer. If, prior to Closing, Buyer Xxxxx fails to make any payment when it is due or fails to keep any of Buyer's other promises or agreements contained in this Agreement, then Seller will have the right, at Seller's sole option and in addition to any other rights contained herein, to do any one or more of the following: (a) Seller may cancel this Agreement by giving Xxxxx written notice of cancellation and Seller may keep all sums paid by Buyer under this Agreement as "liquidated damages" (i.e., the amount agreed to by Xxxxx and Seller as properly payable in settlement for breach of contract), and not as a penalty. Without limiting the generality of the foregoing, Xxxxx understands and acknowledges that if Buyer defaults under this Agreement, Seller may keep the Option Deposit in addition to all other sums paid by Buyer under this Agreement. If Seller cancels this Agreement, Xxxxx agrees that it will be difficult and expensive to determine the amount of loss or damage Seller will suffer. This is because of, among other things, Xxxxxx's commitments relating to the financing of the Project, the effect of default and cancellation of one sale on other unit sales, and the nature of the real estate market in Hawaii. Xxxxx agrees that the sums paid by Xxxxx under this Agreement are a reasonable estimate of a fair payment to Seller for Seller's loss or damage resulting from Xxxxx's default. (b) Seller may file a lawsuit for damages. (c) Seller may file a lawsuit for "specific performance" (in other words, a lawsuit to make Buyer keep all of Buyer's promises and agreements, including, without limitation, closing the purchase of the Property). (d) Seller may take advantage of any other rights which the law allows or which Seller may have under this Agreement. Xxxxx also agrees to pay for all costs, including Seller's reasonable lawyers' fees (for both in-house and outside counsel) and the escrow cancellation fee, which are incurred because of Buyer's default.

Default by Buyer. If, prior to Closing, Buyer fails to make any payment when it is due or fails to keep any of Buyer's other promises or agreements contained in this Agreement, then Seller will have the right, at Seller's sole option and in addition to any other rights contained herein, to do any one or more of the following: (a) Seller may cancel this Agreement by giving Xxxxx written notice of cancellation and Seller may keep all sums paid by Buyer under this Agreement as "liquidated damages" (i.e., the amount agreed to by Xxxxx and Seller as properly payable in settlement for breach of contract), and not as a penalty. Without limiting the generality of the foregoing, Xxxxx understands and acknowledges that if Buyer defaults under this Agreement, Seller may keep the Option Deposit in addition to all other sums paid by Buyer Xxxxx under this Agreement. If Seller cancels this Agreement, Xxxxx agrees that it will be difficult and expensive to determine the amount of loss or damage Seller will suffer. This is because of, among other things, Xxxxxx's commitments relating to the financing of the Project, the effect of default and cancellation of one sale on other unit sales, and the nature of the real estate market in Hawaii. Xxxxx agrees that the sums paid by Xxxxx under this Agreement are a reasonable estimate of a fair payment to Seller for Seller's loss or damage resulting from Xxxxx's default. (b) Seller may file a lawsuit for damages. (c) Seller may file a lawsuit for "specific performance" (in other words, a lawsuit to make Buyer keep all of Buyer's promises and agreements, including, without limitation, closing the purchase of the Property). (d) Seller may take advantage of any other rights which the law allows or which Seller may have under this Agreement. Xxxxx also agrees to pay for all costs, including Seller's reasonable lawyers' fees (for both in-house and outside counsel) and the escrow cancellation fee, which are incurred because of Buyer's default.

Default by Buyer. IfAt any time after the Effective Date, prior to Closing, if Buyer fails to make any payment when it is due or fails to keep any of Buyer's ’s other promises or agreements contained in this Agreementcontract, then Seller will have the right, at Seller's ’s sole option and in addition to any other rights contained herein, to do any one or more of the following: (a) Seller may cancel this Agreement contract by giving Xxxxx Buyer written notice of cancellation and Seller may keep all sums paid by Buyer under this Agreement contract as "liquidated damages" (i.e., the amount agreed to by Xxxxx and Seller as properly payable in settlement for breach of contract), and not as a penalty. Without limiting the generality of the foregoing, Xxxxx understands and acknowledges that if Buyer defaults under this Agreement, Seller may keep the Option Deposit in addition to all other sums paid by Buyer under this Agreement. If Seller cancels this Agreementcontract, Xxxxx Buyer agrees that it will be difficult and expensive to determine the amount of loss or damage Seller will suffer. This is because of, among other things, Xxxxxx's Seller’s commitments relating to the financing of the Project, the effect of default and cancellation of one sale on other unit sales, and the nature of the real estate market in Hawaii. Xxxxx Buyer agrees that the sums paid by Xxxxx Buyer under this Agreement contract are a reasonable estimate of a fair payment to Seller for Seller's ’s loss or damage resulting from Xxxxx's Buyer’s default. (b) Seller may file a lawsuit for damages. (c) Seller may file a lawsuit for "“specific performance" ” (in other words, a lawsuit to make Buyer keep all of Buyer's ’s promises and agreements, including, without limitation, closing the purchase of the Propertyunit). (d) Seller may take advantage of any other rights which the law allows or which Seller may have under this Agreementcontract. Xxxxx Buyer also agrees to pay for all costs, including Seller's ’s reasonable lawyers' ’ fees (for both in-house and outside counsel) and the escrow cancellation fee, which are incurred because of Buyer's ’s default.

Default by Buyer. If, prior to Closing, Buyer fails to make any payment when it is due or fails to keep any of Buyer's other promises or agreements contained in this Agreement, then Seller will have the right, at Seller's sole option and in addition to any other rights contained herein, to do any one or more of the following: (a) Seller may cancel this Agreement by giving Xxxxx Buyer written notice of cancellation and Seller may keep all sums paid by Buyer under this Agreement as "liquidated damages" (i.e., the amount agreed to by Xxxxx and Seller as properly payable in settlement for breach of contract), and not as a penalty. Without limiting the generality of the foregoing, Xxxxx understands and acknowledges that if Buyer defaults under this Agreement, Seller may keep the Option Deposit in addition to all other sums paid by Buyer under this Agreement. If Seller cancels this Agreement, Xxxxx agrees that it will be difficult and expensive to determine the amount of loss or damage Seller will suffer. This is because of, among other things, Xxxxxx's commitments relating to the financing of the Project, the effect of default and cancellation of one sale on other unit sales, and the nature of the real estate market in Hawaii. Xxxxx agrees that the sums paid by Xxxxx under this Agreement are a reasonable estimate of a fair payment to Seller for Seller's loss or damage resulting from Xxxxx's default. (b) Seller may file a lawsuit for damages. (c) Seller may file a lawsuit for "specific performance" (in other words, a lawsuit to make Buyer keep all of Buyer's promises and agreements, including, without limitation, closing the purchase of the Property). (d) Seller may take advantage of any other rights which the law allows or which Seller may have under this Agreement. Xxxxx also agrees to pay for all costs, including Seller's reasonable lawyers' fees (for both in-house and outside counsel) and the escrow cancellation fee, which are incurred because of Buyer's default.

Default by Buyer. If, prior to Closing, Buyer fails to make any payment when it is due or fails to keep any of Buyer's other promises or agreements contained in this Agreement, then Seller will have the right, at Seller's sole option and in addition to any other rights contained herein, to do any one or more of the following: (a) Seller may cancel this Agreement by giving Xxxxx written notice of cancellation and Seller may keep all sums paid by Buyer under this Agreement as "liquidated damages" (i.e., the amount agreed to by Xxxxx and Seller as properly payable in settlement for breach of contract), and not as a penalty. Without limiting the generality of the foregoing, Xxxxx understands and acknowledges that if Buyer defaults under this Agreement, Seller may keep the Option Deposit in addition to all other sums paid by Buyer under this Agreement. If Seller cancels this Agreement, Xxxxx agrees that it will be difficult and expensive to determine the amount of loss or damage Seller will suffer. This is because of, among other things, Xxxxxx's commitments relating to the financing of the Project, the effect of default and cancellation of one sale on other unit sales, and the nature of the real estate market in Hawaii. Xxxxx agrees that the sums paid by Xxxxx under this Agreement are a reasonable estimate of a fair payment to Seller for Seller's loss or damage resulting from Xxxxx's default. (b) Seller may file a lawsuit for damages. (c) Seller may file a lawsuit for "specific performance" (in other words, a lawsuit to make Buyer keep all of Buyer's promises and agreements, including, without limitation, closing the purchase of the Property). (d) Seller may take advantage of any other rights which the law allows or which Seller may have under this Agreement. Xxxxx also agrees to pay for all costs, including Seller's reasonable lawyers' fees (for both in-house and outside counsel) and the escrow cancellation fee, which are incurred because of Buyer's default.. specimen