Default by Seller Before Closing. If Seller is in material default under this Agreement before Closing (including, without limitation, for failure to timely close) and if, within five (5) days after receipt from Purchaser of written notice of the default, Seller fails to commence the steps necessary to cure the default and to complete the cure within a reasonable time, and if Purchaser is in compliance with all its obligations under this Agreement, then Purchaser may (i) terminate this Agreement, in which event Purchaser shall be entitled to a return of the Xxxxxxx Money Deposit paid by Purchaser (without interest), or (ii) elect to treat this Agreement as being in full force and effect, in which case Purchaser may assert a claim against Seller for specific performance to enforce Seller’s obligation to close.
Appears in 5 contracts
Samples: Purchase and Sale Agreement, Purchase and Sale Agreement, Purchase and Sale Agreement
