Default Defined. Default for the purpose of this Agreement shall mean any failure by Seller or Purchaser to fulfill all the terms, conditions and covenants contained herein, however, it shall not be an event of default for either party to exercise its rights to terminate this contract as contained in other provisions herein.
Appears in 28 contracts
Samples: Purchase Contract (Apple Residential Income Trust Inc), Bitter Purchase Contract (Apple Residential Income Trust Inc), Purchase Contract (Apple Residential Income Trust Inc)
Default Defined. Default for the purpose of this Agreement shall mean any deliberate or intentional failure by Seller or Purchaser to fulfill all the terms, conditions and covenants contained herein, however, it shall not be an event of default for either party to exercise its rights to terminate this contract as contained in other provisions herein.
Appears in 2 contracts
Samples: Purchase Contract (Cornerstone Realty Income Trust Inc), Purchase Contract (Cornerstone Realty Income Trust Inc)
Default Defined. Default for the purpose of this Agreement shall mean any failure by Seller or Purchaser to fulfill all the terms, conditions and covenants contained herein, except as set forth in Paragraph 8.3, however, it shall not be an event of default for either party to exercise its rights to terminate this contract as contained in other provisions herein.
Appears in 1 contract
Samples: First Modification to Purchase Contract (Cornerstone Realty Income Trust Inc)
Default Defined. Default for the purpose of this Agreement shall mean any failure by Seller or Purchaser to fulfill all the terms, conditions and covenants contained herein, however, it shall not be an event of default for either party to exercise its rights to terminate this contract Agreement as contained in other provisions herein.
Appears in 1 contract
Samples: Purchase Contract (Apple Residential Income Trust Inc)
