Common use of If Vendor Terminates Clause in Contracts

If Vendor Terminates. (a) If the Vendor terminates this agreement the Vendor may elect to: (1) declare the Final Deposit forfeited and xxx the Purchaser for breach; or (2) declare the Final Deposit forfeited and resell the Assets as owner. In either case the Vendor may recover from the Purchaser as a liquidated debt the Final Deposit or any part of it which has not been paid by the Purchaser. (b) In the event that the Vendor elects to resell the Assets pursuant to clause 18.3(a)(2) the Vendor may recover from the Purchaser the deficiency (if any) arising on such resale and all expenses of and incidental to such resale or any attempted resale. (c) The Vendor may retain any money paid by the Purchaser on account of the sale as security for any damages liquidated or otherwise awarded to the Vendor for the Purchaser's default.