Common use of Default Damages Clause in Contracts

Default Damages. Should Seller fail to fulfill Seller’s obligations hereunder, Buyer may elect to terminate this Agreement by written notice thereof to Seller, and receive a refund of the Deposit and/or to pursue all available remedies, including specific performance and reasonable attorney’s fees and costs. Should Buyer fail to fulfill Buyer’s obligations hereunder, Seller may terminate this Agreement by written notice thereof to Buyer, and retain the Deposit as liquidated damages as Seller’s sole and exclusive remedy at law or in equity. Upon termination in accordance with this Section, Buyer and Seller shall be relieved of all obligations hereunder following termination except for such obligations as by their terms survive termination of this Agreement.

Default Damages. Should Seller fail to fulfill Seller’s obligations hereunder, Buyer may elect to terminate this Agreement by written notice thereof to Seller, and receive a refund of the Deposit and/or to pursue all available remedies, including specific performance and reasonable attorney’s fees and costs. Should Buyer fail to fulfill Buyer’s obligations hereunder, Seller may terminate this Agreement by written notice thereof to Buyer, and retain the Deposit as liquidated damages as Seller’s sole and exclusive remedy at law or in equity. Upon termination in accordance with this Section, Buyer and Seller shall be relieved of all obligations hereunder following termination except for such obligations as by their terms survive termination of this Agreement.