Default by Purchaser. In the event the sale of the Property as contemplated hereunder is not consummated due to Purchaser's default hereunder, Seller shall be entitled, as its sole remedy, to terminate this Agreement and receive the Deposit as liquidated damages for the breach of this Agreement, it being agreed between the parties hereto that the actual damages to Seller in the event of such breach are impractical to ascertain and the amount of the Deposit is a reasonable estimate thereof.
Appears in 7 contracts
Samples: Purchase and Sale Agreement (Metlife Inc), Sale Agreement (Corporate Realty Income Fund I L P), Purchase and Sale Agreement (Metlife Inc)
Default by Purchaser. In the event the sale of the Property as contemplated hereunder is not consummated on or before the Closing Date due to Purchaser's default ’s Default hereunder, Seller shall be entitled, as its sole remedyand exclusive remedy under this Agreement, at law or in equity, to terminate this Agreement and receive the Deposit as liquidated damages for the breach of this AgreementAgreement in accordance with the provisions of Section 1.6 above, it being agreed between the parties hereto that the actual damages to Seller in the event of such breach are impractical to ascertain and the amount of the Deposit is a reasonable estimate thereof.
Appears in 3 contracts
Samples: Purchase and Sale Agreement and Joint Escrow Instructions (Simpson Manufacturing Co Inc /Ca/), Purchase and Sale Agreement and Joint Escrow Instructions (Simpson Manufacturing Co Inc /Ca/), Purchase and Sale Agreement and Joint Escrow Instructions (Simpson Manufacturing Co Inc /Ca/)
Default by Purchaser. In the event the sale of the Property as contemplated hereunder is not consummated due to Purchaser's default hereunder, Seller shall be entitledSeller, as its sole remedy, shall be entitled pursuant to Section 1.6 hereof to terminate this Agreement and receive the Deposit and Option Deposit, if any, as liquidated damages for the breach of this Agreement, it being agreed between the parties hereto that the actual damages to Seller in the event of such breach are impractical to ascertain and the amount of the Deposit is a reasonable estimate thereof.
Appears in 2 contracts
Samples: Purchase and Sale Agreement and Escrow Instructions (Illumina Inc), Purchase and Sale Agreement and Escrow Instructions (BioMed Realty Trust Inc)
Default by Purchaser. In the event that the sale of the Property as transaction contemplated hereunder is not consummated by this Agreement fails to close due to Purchaser's default hereunderdefault, then Seller shall be entitled, as its sole and exclusive remedy, to terminate this Agreement and receive the Deposit as liquidated damages for the breach of this Agreement, it being agreed between the parties hereto that the actual damages to Seller in the event of such breach are impractical to ascertain and the amount of the Deposit is a reasonable estimate thereof.
Appears in 2 contracts
Samples: Sale Agreement (Atlas Financial Holdings, Inc.), Sale Agreement (Atlas Financial Holdings, Inc.)
Default by Purchaser. In the event the sale of the Property as contemplated hereunder by this Agreement is not consummated due to Purchaser's default hereunder, Seller shall be entitled, as its sole remedy, to terminate this Agreement and receive the Deposit and any accrued interest thereon as liquidated damages for the breach of this Agreement, it being agreed between the parties hereto that the actual damages to Seller in the event of such breach are impractical to ascertain and the amount of the Deposit and any accrued interest thereon is a reasonable estimate thereof.
Appears in 2 contracts
Samples: Sale Agreement (Cali Realty Corp /New/), Sale Agreement (Brandywine Realty Trust)
Default by Purchaser. In the event the sale of the Property as contemplated hereunder is not consummated due to Purchaser's default hereunder, Seller shall be entitled, as its sole and exclusive remedy, to terminate this Agreement and receive the Deposit as liquidated damages for the breach of this Agreement, it being agreed between the parties hereto that the actual damages to Seller in the event of such breach are impractical to ascertain and the amount of the Deposit is a reasonable estimate thereof.
Appears in 1 contract
Default by Purchaser. In the event the sale of the Property as contemplated hereunder is not consummated solely due to Purchaser's default hereunder, Seller shall be entitledSeller, as its sole remedy, shall be entitled pursuant to Section 1.6 hereof to terminate this Agreement and receive the Deposit and Extension Deposit(s), if any, as liquidated damages for the breach of this Agreement, it being agreed between the parties hereto that the actual damages to Seller in the event of such breach are impractical to ascertain and the amount of the Deposit is a reasonable estimate thereof.
Appears in 1 contract
Samples: Purchase and Sale Agreement and Escrow Instructions (BioMed Realty Trust Inc)
Default by Purchaser. In the event the sale of the Property as contemplated hereunder is not consummated due to Purchaser's default hereunder, Seller shall be entitled, as its sole remedy, to terminate this Agreement and receive the Deposit and retain the Loan Deposit as liquidated damages for the breach of this Agreement, it being agreed between the parties hereto that the actual damages to Seller in the event of such breach are impractical to ascertain and the amount of the Total Deposit is a reasonable estimate thereof.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Maguire Properties Inc)
Default by Purchaser. In the event the sale of the Property as contemplated hereunder is not consummated due to Purchaser's default hereunder, Seller shall be entitled, as its sole remedy, to terminate this Agreement and receive retain the Deposit as liquidated damages for the breach of this Agreement, it being agreed between the parties hereto that the actual damages to Seller in the event of such breach are impractical to ascertain and the amount of the Deposit is a reasonable estimate thereofDeposit.
Appears in 1 contract
Samples: Use and Occupancy Agreement (Quaker Fabric Corp /De/)
Default by Purchaser. In the event the sale of the Property Transferred Interest as contemplated hereunder is not consummated due to Purchaser's ’s default hereunderhereunder (through no fault or breach by Seller), Seller shall be entitled, as its sole remedy, to terminate this Agreement and receive the Deposit as liquidated damages for the breach of this Agreement, it being agreed between the parties hereto that the actual damages to Seller in the event of such breach are impractical to ascertain and the amount of the Deposit set forth hereinabove is a reasonable estimate thereof.
Appears in 1 contract
Samples: Interest Purchase Agreement (Consolidated Tomoka Land Co)
Default by Purchaser. In the event the sale of the Property as contemplated hereunder is not consummated due to Purchaser's default hereunder, Seller shall be entitled, as its sole remedyremedy (subject to Section 6.3), to terminate this Agreement and receive the Deposit as liquidated damages for the breach of this Agreement, it being agreed between the parties hereto that the actual damages to Seller in the event of such breach are impractical to ascertain and the amount of the Deposit is a reasonable estimate thereof.
Appears in 1 contract
Samples: To Agreement (Inland Real Estate Income Trust, Inc.)
Default by Purchaser. In the event the sale of the Property as contemplated hereunder is not consummated due to Purchaser's ’s default hereunder, Seller shall be entitled, as its sole remedy, to terminate this Agreement and receive the Deposit as liquidated damages for the breach of this Agreement, it being agreed between the parties hereto that the actual damages to Seller in the event of such breach are impractical to ascertain and the amount of the Deposit is a reasonable estimate thereof.
Appears in 1 contract
