FWRLP's Default. If FWRLP fails to consummate the Contribution contemplated herein when required to do so pursuant to the provisions hereof, then the Title Company shall deliver the Deposit to Contributors as full and complete liquidated damages, and as the exclusive and sole right and remedy of Contributors, whereupon this Agreement shall terminate and neither party shall have any further obligations or liabilities to any other party.
Appears in 3 contracts
Samples: Contribution Agreement (First Washington Realty Trust Inc), Contribution Agreement (First Washington Realty Trust Inc), Contribution Agreement (First Washington Realty Trust Inc)
FWRLP's Default. If FWRLP fails to consummate the Contribution contemplated herein when required to do so pursuant to the provisions hereof, then the Title Company shall deliver the Deposit to Contributors as full and complete liquidated damages, and as the exclusive and sole right and remedy of Contributors, at law or in equity, whereupon this Agreement shall terminate and neither party shall have any further obligations or liabilities to any other party. In the event this Agreement is terminated, the indemnities set forth in Sections 14(a) and 16 shall nevertheless remain in full force and effect.
Appears in 1 contract
Samples: Contribution Agreement (First Washington Realty Trust Inc)
FWRLP's Default. If FWRLP fails to consummate the Contribution contemplated herein when required to do so pursuant to the provisions hereof, then Contributors may elect to terminate this Agreement in which case the Title Company shall deliver the Deposit to Contributors as full and complete liquidated damages, and as the exclusive and sole right and remedy of Contributors, whereupon this Agreement shall terminate and neither party shall have any further obligations or liabilities to any other party.
Appears in 1 contract
Samples: Contribution Agreement (First Washington Realty Trust Inc)
FWRLP's Default. If FWRLP fails to consummate the Contribution contemplated herein when required to do so pursuant to the provisions hereof, then the Title Company shall deliver the Deposit to Contributors Contributor as full and complete liquidated damages, and as the exclusive and sole right and remedy of ContributorsContributor, whereupon this Agreement shall terminate and neither party shall have any further obligations or liabilities to any other party.
Appears in 1 contract
Samples: Contribution Agreement (First Washington Realty Trust Inc)
