Defaults After Closing Clause Samples
The "Defaults After Closing" clause defines the consequences and procedures that apply if a party fails to fulfill their obligations after the transaction has been completed. Typically, this clause outlines what constitutes a default post-closing, such as failure to make required payments, deliver documents, or perform agreed-upon actions, and specifies the remedies available to the non-defaulting party, which may include damages, specific performance, or other legal recourse. Its core practical function is to protect the parties by ensuring that commitments made at closing are honored and by providing a clear framework for addressing breaches that occur after the deal is finalized.
Defaults After Closing. Each of Mission and Buyer shall be enti- tled to pursue any and all legal and equitable remedies available to it in the event of a default by the other party after any Closing under this Agreement as to the Parcel(s) theretofore acquired.
Defaults After Closing. Except as otherwise provided herein, with regard to any Builder Default that occurs after the Closing, Transferor shall have the right to elect, in its sole discretion, to pursue any and all remedies that may be available to Transferor at law or in equity to include its Reconveyance Right.