IN THE EVENT BUYER Sample Clauses

IN THE EVENT BUYER. FAILS TO MAKE THE INITIAL CONSTRUCTION DEPOSIT, THERE SHALL BE NO RECOURSE WHATSOEVER FROM SELLER TO BUYER EXCEPT SELLER SHALL NOT BE OBLIGATED TO COMMENCE CONSTRUCTION UNTIL THE INITIAL CONSTRUCTION DEPOSIT IS PAID. BUYER SHALL HAVE UP TO TWO (2) YEARS TO MAKE THE INITIAL CONSTRUCTION DEPOSIT AND REQUIRE SELLER TO BEGIN CONSTRUCTION UNDER THE TERMS HEREIN. IF BUYER DOES NOT PAY THE INITIAL CONSTRUCTION DEPOSIT WITHIN TWO (2) YEARS FROM THE DATE OF SIGNING THIS AGREEMENT, SELLER SHALL NO LONGER BE BOUND BY THIS CONTRACT AND SHALL BE RELIEVED OF ANY AND ALL OBLIGATION TO CONSTRUCT A HOME FOR THE BUYER.
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IN THE EVENT BUYER. ASSERTS A CLAIM AGAINST A THIRD PARTY FOR DAMAGES OF THE TYPE LIMITED OR EXCLUDED IN LIMITATIONS, PARAGRAPH 2.9. ABOVE, BUYER SHALL INDEMNIFY AND HOLD CFM HARMLESS FROM AND AGAINST ANY CLAIM BY OR LIABILITY TO SUCH THIRD PARTY FOR CONTRIBUTION OR INDEMNITY, INCLUDING COSTS AND EXPENSES (INCLUDING ATTORNEYS' FEES) INCIDENT THERETO OR INCIDENT TO ESTABLISHING SUCCESSFULLY THE RIGHT TO INDEMNIFICATION UNDER THIS PROVISION. THIS INDEMNITY SHALL APPLY WHETHER OR NOT SUCH DAMAGES WERE OCCASIONED IN WHOLE OR IN PART BY THE FAULT OR NEGLIGENCE OF CFM, WHETHER ACTIVE, PASSIVE OR IMPUTED.
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IN THE EVENT BUYER. FAILS OR REFUSES TO PERFORM ANY OF THE ------------ COVENANTS CONTAINED HEREIN TO BE PERFORMED BY BUYER, OR IF BUYER SHALL FAIL TO CLOSE ESCROW FOR ANY OTHER REASON OTHER THAN SELLERS DEFAULT OR TERMINATION OF THIS AGREEMENT PURSUANT TO THE PROVISIONS OF THIS AGREEMENT, THEN SELLERS SOLE AND EXCLUSIVE REMEDY SHALL BE TO TERMINATE THIS AGREEMENT AND ESCROW BY NOTICE TO BUYER AND ESCROW HOLDER AND RECEIVE THE FUNDS DEPOSITED BY BUYER WITH ESCROW HOLDER PLUS ANY INTEREST ACCRUED THEREON, IT BEING EXPRESSLY UNDERSTOOD AND AGREED THAT SUCH AMOUNT SHALL BE A REASONABLE APPROXIMATION OF THE DAMAGES SUFFERED BY SELLER SINCE THE SAME ARE DIFFICULT TO ASCERTAIN, AND THEREAFTER NEITHER PARTY SHALL HAVE ANY OBLIGATIONS TO THE OTHER, EXCEPT THAT ALL COSTS OF CANCELLATION SHALL BE PAID BY BUYER. SELLER AND BUYER ACKNOWLEDGE AND AGREE THAT SUCH REMUNERATION IS REASONABLE AS LIQUIDATED DAMAGES AND SHALL BE IN LIEU OF ANY OTHER RELIEF, RIGHT OR REMEDY, AT LAW OR IN EQUITY, TO WHICH SELLER MIGHT OTHERWISE BE ENTITLED BY REASON OF BUYERS DEFAULT. BY INITIALING THIS CLAUSE, BUYER AND SELLER INDICATE THEIR AWARENESS AND ACCEPTANCE OF EACH AND EVERY PROVISION HEREOF AND ACKNOWLEDGES THAT BOTH BUYER AND SELLER HAVE HAD THE OPPORTUNITY TO SEEK ADVICE FROM LEGAL COUNSEL ABOUT ITS MEANING AND SIGNIFICANCE
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Related to IN THE EVENT BUYER

  • Buyer (Buyer) will take title 16 to the Property described below as Joint Tenants Tenants In Common Other .

  • By the Buyer Subject to Section 7.1(E) hereof, the Parent and Buyer shall indemnify, save, defend and hold harmless the Seller and the Stockholder (collectively, the "Seller Indemnified Parties") from and against any and all Damages (i) incurred in connection with or arising out of or resulting from or incident to any breach of any covenant, breach of warranty as of the Effective Date, or the inaccuracy of any representation as of the Effective Date, made by the Buyer or Parent in or pursuant to this Agreement, the Ancillary Agreements, or any other agreement contemplated hereby or in any schedule, certificate, exhibit, or other instrument furnished or to be furnished by the Buyer under this Agreement, (ii) based upon, arising out of or otherwise in respect of any liability or obligation of the Business or relating to the Assets (a) relating to any period on and after the Effective Date, other than those Damages based upon or arising out of the Retained Liabilities, or (b) arising out of facts or circumstances existing on and after the Effective Date, other than those Damages based upon or arising out of the Retained Liabilities; provided, however, that the Buyer shall not be liable for any such Damages to the extent, if any, such Damages result from or arise out of a breach or violation of this Agreement by any Seller Indemnified Party, (iii) under the Securities Act, the Exchange Act or other federal or state law or regulation, at common law or otherwise, arising out of or based upon any untrue statement or alleged untrue statement of a Material fact relating to Parent, Buyer or any Other Acquired Business contained in any preliminary prospectus, the Registration Statement or any prospectus forming a part thereof, or any amendment thereof or supplement thereto, or arising out of or based upon any omission (or alleged omission) to state therein a Material fact relating to Parent or Buyer or any of the Other Acquired Businesses required to be stated therein or necessary to make the statements therein not misleading.

  • Seller For each Mortgage Loan, the seller of such Mortgage Loan pursuant to the Mortgage Loan Purchase Agreement.

  • After the Closing Date Buyer shall accept payment of all accounts receivable in the normal course of conducting the Business. Upon payment of any amounts from Delinquent Members, Buyer shall credit such payment first to the amounts owed by such Delinquent Member indicated on the Seller Receivable List, and then for Buyer's account.

  • Buy-Sell (a) Either MCG, on the one hand, or the Manager and the Keystone Investor (acting together), on the other hand, shall have the right and the option to implement the buy/sell procedure as set forth in this Section 10.4 if permitted to do so under Section 9.1(e). For the purposes of this Section 10.4, the Manager and Keystone Investor shall be considered one Member.

  • Covenants of Buyer Prior to Closing Date If the Closing does not occur on the date of this Agreement, between the date of this Agreement and the Closing Date Buyer will use its Best Efforts to cause the conditions in Sections 6 and 7 to be satisfied.

  • Purchaser 2.1 Full Name:

  • By Buyer At Closing, Buyer shall deliver to Seller the following:

  • Experience of Purchaser Purchaser, either alone or together with its representatives, has such knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Securities, and has so evaluated the merits and risks of such investment. Purchaser is able to bear the economic risk of an investment in the Securities and, at the present time, is able to afford a complete loss of such investment.

  • Purchaser Closing Deliveries At the Closing, Purchaser shall deliver, or cause to be delivered, the following:

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