DEFAULT BY THE VENDOR Sample Clauses

DEFAULT BY THE VENDOR. 13.1 If the Vendor is in breach of any fundamental term or condition of this Agreement or if it wilfully fails to complete this sale under this Agreement the Purchaser shall be entitled to give notice in writing to the Vendor specifying the default or breach and requiring the Vendor to remedy the said default or breach within fourteen (14) days of receipt of such notice failing which the Purchaser shall be entitled to terminate this Agreement whereupon the Vendor shall within fourteen (14) days of the notice of termination refund all monies paid by the Purchaser or the Financier under this Agreement free of interest in addition to a sum of equivalent to Ten per centum (10%) of the Purchase Price of the Sale Property as agreed liquidated damages and in exchange the Purchaser shall:- (a) return or cause to be returned to the Vendor all documents (inclusive of the Transfer Documents) which were delivered to the Purchaser or the Purchaser's Solicitors or the Financier or the Financier's solicitors under the provisions of this Agreement with the Vendor right, title and interests intact; (a) remove or cause to be removed any private caveat entered on the Property by the Purchaser or the Financier or any other person claiming under the Purchaser, at the Purchaser's own costs and expenses; (b) deliver the RPGT Termination Letter; and
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DEFAULT BY THE VENDOR. In the event that the Vendor fails to comply with any terms of the SPA or if the Vendor is in breach of any of its warranties or the transfer of the Land cannot be registered for any reasons attributable to the Vendor, the JV Company is entitled to either seek specific performance of the SPA or terminate the SPA by notice in writing to the Vendor. If the JV Company elects to terminate the SPA, the Vendor shall: (a) refund to the JV Company or at its written direction all moneys paid towards the Purchase Consideration (including the Deposit); (b) pay to the JV Company or at its written direction a sum equivalent to the Deposit as agreed liquidated damages; (c) be entitled to revoke the Limited POA granted; and (d) solely bear the Vendor’s Works Cost in full.
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DEFAULT BY THE VENDOR. If the Vendor shall be in breach of any of the provisions of this Agreement and/or shall fail to complete the sale of the Property pursuant to this Agreement for any reason not attributable to the Purchaser, the Purchaser shall be entitled at his option: - (i) to the remedies of specific performance against the Vendor at the costs and expenses of the Vendor. or (ii) to serve on the Vendor a notice in writing to elect to accept a sum equivalent to Ten Per Centum (10%) of the Purchase Price as agreed liquidated damages (hereinafter referred to as “the Liquidated Damages”) from the Vendor who shall within Fourteen (14) days from the date of receipt of the aforesaid notice pay the Liquidated Damages to the Purchaser and cause all monies paid by the Purchaser towards the Purchase Price pursuant to this Agreement including the Deposit paid by the Purchaser be refunded free from interest to the Purchaser in default of which payment and refund as aforesaid the Vendor shall further pay the Purchaser interest on the Liquidated Damages and the aforesaid monies or any part thereof remaining unpaid calculated at the rate of Eight Per Centum (8%) per annum on a daily basis from the date of the aforesaid notice until the date of actual payment and refund PROVIDED THAT the Purchaser shall in exchange of the refund and or payment of the aforesaid monies return or cause to be returned to the Vendor all documents and/or instruments (if any) with the Vendor’s interest in the Property remains intact and redeliver vacant possession of the Property to the Vendor if the same shall have been delivered to the Purchaser. Thereafter, this Agreement shall become null and void and neither party shall have any further claims or actions against the other and the Vendor shall be entitled at its sole discretion to sell the Property to any party without further reference to the Purchaser.
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DEFAULT BY THE VENDOR. In the event of default by the Vendor as provided for in clause 10.1.2 above after the Unconditional Date but prior to the registration of the Transfer in favour of the Purchaser, the Purchaser shall be entitled to terminate this Agreement and to retain or seek to recover the sum equivalent to ten per cent (10%) of the Purchase Consideration as agreed liquidated damages. The Vendor shall refund to the Purchaser all other monies paid by the Purchaser towards the Purchase Consideration together with interest accruing thereon in exchange for withdrawal of caveat forms to remove or cause to be removed all private caveats that may have been lodged by or on behalf of the Purchaser, the Purchaser redelivering vacant possession of Plot A and Plot B in its original state and condition to the Vendor if vacant possession has been handed to the Purchaser. Thereafter, this Agreement shall be terminated and become null and void and be of no further effect and neither Party shall have any further claims, action or proceedings against the other in respect of or arising out of this Agreement save and except the right of either Party to claim against the other for any other losses and damages, expenses and costs incurred or suffered by that Party as a result of other antecedent breaches by the other Party. The Vendor acknowledges and agrees that money damages may not be a sufficient remedy for any default under this Agreement, therefore the Purchaser shall be entitled to seek injunctive or other equitable relief as a remedy for any such default. Such remedy shall not be deemed to be the exclusive remedy for a default under this Agreement, but shall be in addition to all other remedies available at law or equity to the Purchaser.
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DEFAULT BY THE VENDOR. If the Purchaser has complied with all the terms and conditions in the CSPA and the Vendor fails to fulfil its obligations under the CSPA, the Purchaser shall be entitled to terminate the CSPA or seek specific performance against the Vendor and all other remedy available.
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DEFAULT BY THE VENDOR. If the Purchaser is not in default under this Agreement and the Vendor is unable to deliver the Property on the Handover Date (unless due to an Event of Force Majeure), the Purchaser may give the Vendor a written notice to remedy such default. If the Vendor is not in a position to give the Purchaser possession of the Property within one hundred twenty (120) days of receipt of such notice, the Agreement shall terminate and the Vendor shall refund all payments made by the Purchaser without any interest.
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Related to DEFAULT BY THE VENDOR

  • Default by the Company If the Company shall fail at Closing Time or at the Date of Delivery to sell the number of Securities that it is obligated to sell hereunder, then this Agreement shall terminate without any liability on the part of any nondefaulting party; provided, however, that the provisions of Sections 1, 4, 6, 7 and 8 shall remain in full force and effect. No action taken pursuant to this Section shall relieve the Company from liability, if any, in respect of such default.

  • Default by Seller If the sale contemplated hereby is not consummated because of a default by Seller in its obligation to sell the Property in accordance with this Agreement after Purchaser has performed or tendered performance of all of its obligations in accordance with this Agreement, then Purchaser, as its sole and exclusive remedy shall elect either (a) to terminate this Agreement, in which event all other rights and obligations of the Seller and the Purchaser hereunder (except those set forth herein which expressly survive a termination of this Agreement) shall terminate immediately; or (b) to waive such matter or condition and proceed to Closing, with no reduction in the Purchase Price. In the event of such termination, the Exxxxxx Money shall be refunded by the Escrow Agent to the Purchaser and Seller shall pay Purchaser’s Transaction Costs up to the amount of the Purchaser’s Transaction Costs Cap. Notwithstanding the preceding sentence, if, at Closing, the Seller fails to comply in any material respect with any of its obligations contained in Section 6.2 or Section 6.4 (the “Closing Obligations”), and if all conditions precedent to the Seller’s obligations hereunder have been satisfied and the Purchaser has fully performed all of its obligations under the Agreement, the Purchaser shall have, in addition to the Purchaser’s remedies contained in the preceding sentence, the option to waive all other actions, rights, or claims for damages for such failure, other than costs and expenses incurred in enforcing this Agreement, and to bring an equitable action to enforce the Closing Obligations by specific performance; provided, (a) the Purchaser shall provide written notice of the Purchaser’s intention to enforce the Closing Obligations by specific performance, and (b) the Purchaser’s suit for specific performance shall be filed against the Seller in a court having jurisdiction in the county and state in which the Property is located, on or before sixty (60) days following the Closing Date, failing which, the Purchaser shall be barred from enforcing the Closing Obligations by specific performance and shall be deemed to have elected to terminate this Agreement as provided herein.

  • Default by Buyer THE PARTIES HAVE AGREED THAT SELLER’S ACTUAL DAMAGES IN THE EVENT OF A FAILURE TO CONSUMMATE THE SALE DUE TO BUYER’S DEFAULT WOULD BE EXTREMELY DIFFICULT OR IMPRACTICABLE TO DETERMINE. AFTER NEGOTIATION, THE PARTIES HAVE AGREED THAT, CONSIDERING ALL THE CIRCUMSTANCES EXISTING ON THE DATE OF THIS AGREEMENT, THE AMOUNT OF THE XXXXXXX MONEY IS A REASONABLE ESTIMATE OF THE DAMAGES THAT SELLER WOULD INCUR IN THE EVENT OF BUYER’S DEFAULT. IN THE EVENT BUYER FAILS, WITHOUT LEGAL EXCUSE, TO COMPLETE THE PURCHASE OF THE PROPERTY, THE XXXXXXX MONEY MADE BY BUYER SHALL BE FORFEITED TO SELLER AS LIQUIDATED DAMAGES AND THE SOLE AND EXCLUSIVE REMEDY AVAILABLE TO SELLER FOR SUCH FAILURE. BY PLACING THEIR INITIALS BELOW, EACH PARTY SPECIFICALLY CONFIRMS THE ACCURACY OF THE STATEMENTS MADE ABOVE AND THE FACT THAT EACH PARTY WAS REPRESENTED BY COUNSEL WHO EXPLAINED, AT THE TIME THIS AGREEMENT WAS MADE, THE CONSEQUENCES OF THIS LIQUIDATED DAMAGES PROVISION. THIS SECTION 8.1 IS NOT INTENDED TO LIMIT SELLER’S RIGHTS UNDER SECTIONS 2.2, 2.3 AND 10.2 OF THIS AGREEMENT.

  • Default by Owner If one or more of the following Events of Default shall occur and be continuing, that is to say: (a) breach by Owner of the representations, warranties and covenants of the Owner as set forth in Section 6.02 above); then, and in each and every such case (except in instances where the Event of Default has been cured within thirty (30) days after the date on which written notice of such default, requiring the same to be remedied, shall have been given to the Owner by the Servicer), the Servicer, by notice in writing to the Owner, may immediately terminate all of its responsibilities, duties and obligations as servicer under this Agreement. On or after the receipt by the Owner of such written notice, all responsibilities, duties and obligations of the Servicer to service the Mortgage Loans under this Agreement shall on the date set forth in such notice pass to and be vested in the successor appointed pursuant to Section 10 herein.

  • Default by Purchaser IF PURCHASER FAILS TO CONSUMMATE THIS AGREEMENT FOR ANY REASON OTHER THAN SELLER’S DEFAULT OR THE PERMITTED TERMINATION OF THIS AGREEMENT BY EITHER SELLER OR PURCHASER AS PROVIDED FOR IN THIS AGREEMENT, SELLER WILL BE ENTITLED, AS ITS SOLE REMEDY, TO TERMINATE THIS AGREEMENT AND RECEIVE THE DEPOSIT AS LIQUIDATED DAMAGES FOR THE BREACH OF THIS AGREEMENT. IT IS AGREED BETWEEN SELLER AND PURCHASER 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. NOTWITHSTANDING THE FOREGOING, SELLER SHALL RETAIN ALL ITS RIGHTS PURSUANT TO THIS AGREEMENT, AT LAW, OR IN EQUITY, AND NOTHING CONTAINED IN THIS SECTION 12.1, WILL LIMIT THE LIABILITY OF PURCHASER UNDER (I) ANY INDEMNITY PROVIDED BY PURCHASER UNDER THIS AGREEMENT; (II) ANY OF THE DOCUMENTS AND INSTRUMENTS EXECUTED AND DELIVERED TO SELLER PURSUANT TO THE TERMS AND CONDITIONS OF THIS AGREEMENT, OR (III) ANY ACTIONS COMMENCED AFTER CLOSING WITH RESPECT TO ANY OBLIGATION OR REPRESENTATION OF EITHER SELLER OR PURCHASER, WHICH BY THE TERMS OF THIS AGREEMENT SURVIVES CLOSING, INCLUDING BUT NOT LIMITED TO, PROVISIONS REGARDING CONFIDENTIALITY AND PAYMENT OF BROKERAGE FEES.

  • Default by Contractor To the maximum extent permitted by applicable law, failure to comply with any of the terms and/or conditions of this Contract, including these General Conditions, shall constitute default by Contractor and grounds for termination of this Contract. Contractor shall be liable for any and all damages suffered by District due to the failure by Contractor or Contractor’s subcontractor(s) to comply with this Contract.

  • Default by Developer Developer shall be in default under this Agreement (a) Developer fails to make any of the payments of money required by the terms of this Agreement, and Developer fails to cure or remedy the same within ten (10) days after the City has given Developer written notice specifying such default; or (b) Developer fails to keep or perform any covenant or obligation herein contained on Developer's part to be kept or performed, and Developer fails to remedy the same within thirty (30) days after the City has given Developer written notice specifying such failure and requesting that it be remedied; provided, however, that if any event of default shall be such that it cannot be corrected within such period, it shall not constitute an event of default if corrective action is instituted by Developer within such period and diligently pursued until the default is corrected; or (c) Without limiting the generality of the foregoing, Developer shall assign or transfer the Project and/or this Agreement in violation of the terms and conditions set forth in Article V; or (d) Developer shall file a voluntary petition under any bankruptcy law or an involuntary petition under any bankruptcy law is filed against any such party in a court having jurisdiction and said petition is not dismissed within thirty (30) days or Developer, makes an assignment for the benefit of its creditors; or a custodian, trustee or receiver is appointed or retained to take charge of and manage any substantial part of the assets of Developer and such appointment is not dismissed within sixty (60) days; or any execution or attachment shall issue against Developer whereupon the District, or any part thereof, or any interest therein of Developer under this Agreement shall be taken and the same is not released prior to judicial sale thereunder (each of the events described in this subsection being deemed a default under the provisions of this Agreement); or (e) Developer breaches the representations and warranties set forth in this Agreement and fails to cure or correct same within thirty (30) days of notice from the City.

  • Default by Lessee If Lessee fails to make payment of any Monthly Rental within five days of delivery by Lessor of notice of any Monthly Rental that is past due, or fails to cure any other default under this Agreement within ten days of delivery by Lessor of such default, then a “Lessee Event of Default” shall exist and Lessor shall have the following remedies, which shall be cumulative rather than exclusive: (a) the right to terminate this Agreement, and the grant of the Lease hereunder, which termination right may be exercised by written notice by Lessor to Lessee, and which termination shall be effective as of the date of such notice; (b) the right to immediately enter upon and repossess the Designated Boat Slip and all appurtenances thereto, by forcible entry and detainer suit, or otherwise; (c) the right to remove Lessee’s Craft (and any personal property then inside Lessee’s Craft from its mooring, and to store Lessee’s Craft (and such personal property), with all risk of loss belonging solely to Lessee, and with no liability whatsoever to Lessor, and with all costs of storage being deemed to be including among the past due Monthly Rental under this Agreement; (d) the right to make any required repairs to the Designated Boat Slip, or to expend any other sums required to cure any defaults by Lessee under this Agreement, with all such sums expended being deemed to be included among the past due Monthly Rental under this Agreement; (e) the right to terminate Lessee’s rights of possession with regard to the Designated Boat Slip and all appurtenances thereto, without demand or notice of any kind and without terminating this Agreement, in which event Lessor may, but shall be under no obligation to, relet all or any part of the Designated Boat Slip for credit to Lessee’s account, on such terms and conditions as Lessor in its sole discretion shall deem appropriate; and (f) the right to exercise Lessor’s rights under the Texas Uniform Commercial Code with regard to the security interest granted to Lessor in the Secured Property. In the event of any Lessee Event of Default, Lessor shall have the right to recover from Lessee, whether by way of sale of the Secured Property, or by means of execution and levy on a judgment, or by means of voluntary payment by Lessee, or by some combination thereof: (a) all Monthly Rental that is past due, including any late payment fees due in connection therewith, (b) all Monthly Rental to come due during the remainder of the Term (assuming that Lessor has not terminated this Agreement and the Lease hereunder), (c) Lessor’s reasonable and necessary attorneys’ fees and costs of court, (d) pre-judgment at the lesser of 8% per annum or the maximum allowed by law, and (e) post-judgment interest at lesser of 10% per annum or the maximum allowed by law.

  • Default by Lessor Lessor shall not be in default unless Lessor fails to perform obligations required of Lessor within a reasonable time, but in no event later than thirty (30) days after written notice by Lessee to Lessor and to the holder of any first mortgage or deed of trust covering the Premises whose name and address shall have theretofore been furnished to Lessee in writing, specifying wherein Lessor has failed to perform such obligation; provided, however, that if the nature of Lessor's obligation is such that more than thirty (30) days are required for performance then Lessor shall not be in default if Lessor commences performance within such 30-day period and thereafter diligently prosecutes the same to completion.

  • Default; Breach A “Default” is defined as a failure by the Lessee to comply with or perform any of the terms, covenants, conditions or Rules and Regulations under this Lease. A “Breach” is defined as the occurrence of one or more of the following Defaults, and the failure of Lessee to cure such Default within any applicable grace period:

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