LIQUIDATED DAMAGES FOR BUYER’S DEFAULT Sample Clauses

LIQUIDATED DAMAGES FOR BUYER’S DEFAULT. IF THE SALE OF THE PROPERTY PURSUANT TO THIS AGREEMENT IS NOT CONSUMMATED BECAUSE OF A DEFAULT UNDER THIS AGREEMENT ON THE PART OF BUYER, SELLER SHALL PROVIDE WRITTEN NOTICE OF SUCH DEFAULT TO BUYER AND ESCROW HOLDER, AND THE DEPOSIT, TOGETHER WITH ANY INTEREST EARNED THEREON, SHALL BE RETAINED BY SELLER AS LIQUIDATED DAMAGES. THE PARTIES HAVE AGREED THAT SELLER’S ACTUAL DAMAGES, IN THE EVENT OF A DEFAULT BY BUYER, WOULD BE EXTREMELY DIFFICULT OR IMPRACTICABLE TO DETERMINE. THEREFORE, BY PLACING THEIR INITIALS BELOW, THE PARTIES ACKNOWLEDGE THAT THE DEPOSIT HAS BEEN AGREED UPON, AFTER NEGOTIATION, AS THE PARTIES’ REASONABLE ESTIMATE OF SELLER’S DAMAGES AND AS SELLER’S SOLE AND EXCLUSIVE REMEDY AGAINST BUYER, AT LAW OR IN EQUITY, IN THE EVENT OF A DEFAULT UNDER THIS AGREEMENT ON THE PART OF BUYER. NOTWITHSTANDING THE FOREGOING, HOWEVER, IN ADDITION TO SUCH LIQUIDATED DAMAGES (1) REASONABLE, OUT-OF-POCKET LEGAL FEES AND COSTS INCURRED BY SELLER TO RECOVER THE LIQUIDATED DAMAGES; AND (2) BUYER’S OBLIGATIONS UNDER ANY INDEMNITIES THAT SURVIVE THE TERMINATION OF THIS AGREEMENT. SELLER HEREBY WAIVES ANY AND ALL BENEFITS IT MAY HAVE UNDER CALIFORNIA CIVIL CODE SECTION 3389. 
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LIQUIDATED DAMAGES FOR BUYER’S DEFAULT. The Seller and the Buyer acknowledge and agree that the Seller would suffer damages if the Buyer fails or refuses to consummate the purchase of the Property or otherwise defaults for any reason other than those identified in this Agreement as entitling the Buyer to a refund of the Xxxxxxx Money, and that such damages to the Seller would be impossible, impractical and difficult to ascertain or calculate on the Binding Agreement Date with requisite legal certainty. Therefore, the Seller and the Buyer agree that the damages to the Seller would reasonably be expected to be equal to or exceed the amount of the Xxxxxxx Money. Accordingly, if (a) all conditions precedent to the Buyer’s obligation to consummate the purchase of the Property have been waived by the Buyer or have been satisfied, and (b) the Seller has performed the Seller’s obligations hereunder, but (c) the Buyer has failed or refused to consummate the purchase of the Property or otherwise defaults, then the Seller shall be entitled to terminate this Agreement and retain the Xxxxxxx Money not as a penalty, but as liquidated damages pursuant to O.C.G.A. § 13-6-7. In lieu of retaining the Xxxxxxx Money as liquidated damages, the Seller shall have the right to seek specific performance of this Agreement. B.4. Co Contribution Of Loan And Transaction Costs. If Seller is contributing funds for the closing and transaction costs, the funds will be for (a) preparation of the limited warranty deed and owner’s affidavit by the Closing Attorney, (b) at the Buyer’s discretion, closing costs, survey costs, and insurance premiums (including flood insurance, if applicable) relating to the Property or loan and, (c) at the Buyer’s discretion, other costs to close including escrow establishment charges and prepaid items, if allowed by lender. The Buyer shall pay all costs, fees and amounts, and fulfill all lender requirements, to otherwise complete the Closing. END OF EXHIBIT “B” EXHIBIT “C” Selection Schedule / Seller’s Policies For Selections Plan Review Date: If checked “Yes,” the following Selections shall be completed by the Buyer by the Due Date and submitted on the “MJH Homes Custom Selections” worksheet with the Buyer’s signature:
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LIQUIDATED DAMAGES FOR BUYER’S DEFAULT. BUYER AND SELLER ACKNOWLEDGE AND AGREE THAT: (1) IT WOULD BE IMPRACTICAL OR EXTREMELY DIFFICULT TO DETERMINE SELLER'S ACTUAL DAMAGE IN THE EVENT OF BUYER'S FAILURE TO CLOSE ESCROW FOR ANY REASON OTHER THAN SELLER'S DEFAULT; AND (2) TAKING INTO ACCOUNT ALL OF THE CIRCUMSTANCES EXISTING ON THE DATE OF THIS AGREEMENT, INCLUDING THE EXISTENCE OF OTHER INTERESTED PURCHASERS, THE AMOUNT OF ONE MILLION FIVE HUNDRED THOUSAND DOLLARS ($1,500,000.00) IS A REASONABLE ESTIMATE OF SELLER'S ACTUAL DAMAGES IN THE EVENT OF BUYER'S BREACH OR FAILURE TO CLOSE ESCROW. CONSEQUENTLY, FOR ANY REASON OTHER THAN SELLER'S BREACH, SELLER'S SOLE AND EXCLUSIVE REMEDY AT LAW OR IN EQUITY SHALL BE TO TERMINATE THIS AGREEMENT AND TO RECEIVE FROM BUYER AND BUYER AGREES TO IMMEDIATELY PAY TO SELLER, THE LIQUIDATED DAMAGES AMOUNT OF ONE MILLION FIVE HUNDRED THOUSAND DOLLARS ($1,500,000.00).
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Related to LIQUIDATED DAMAGES FOR BUYER’S DEFAULT

  • Liquidated Damages for Delay In addition to the Contractor bearing the actual cost of correcting any non-compliant work or any other actual damages resulting from Contractor’s breach of this Agreement, the Contractor agrees to pay the Contractor delay damages in the amount of $500.00 per day for every day that the goods and/or services to be provided pursuant to this Agreement have not been timely delivered to the District in compliance with the Scope of Services set forth above, unless the delay has been properly excused by the terms of this Agreement. The parties agree that the District’s actual damages for delay are difficult to estimate and that this $500.00 per day sum is a reasonable pre-estimate of the District’s actual damages for each day of delay and that the is $500.00 per day sum is intended by the parties to be in the nature of liquidated damages, not a penalty. It is not the parties’ intent for this provision to limit either party’s remedies against the other for the breach of this Agreement, except for the District’s money damages for unexcused delays caused by the Contractor.

  • Liquidated Damages The Company’s obligations to pay any partial liquidated damages or other amounts owing under the Transaction Documents is a continuing obligation of the Company and shall not terminate until all unpaid partial liquidated damages and other amounts have been paid notwithstanding the fact that the instrument or security pursuant to which such partial liquidated damages or other amounts are due and payable shall have been canceled.

  • Breach of Contract and Liquidated Damages A. Where OGS determines that the Contractor is not in compliance with the requirements of subsection 4.7 of this Contract, and the Contractor refuses to comply with such requirements, or if it is found to have willfully and intentionally failed to comply with the MWBE participation goals set forth in the Contract, the Contractor shall be obligated to pay liquidated damages to OGS. B. Such liquidated damages shall be calculated as an amount equaling the difference between: 1. All sums identified for payment to MWBEs had the Contractor achieved the contractual MWBE goals; and 2. All sums actually paid to MWBEs for work performed or materials supplied under the Contract. C. If OGS determines that Contractor is liable for liquidated damages and such identified sums have not been withheld by OGS, Contractor shall pay such liquidated damages to OGS within sixty (60) days after they are assessed. Provided, however, that if the Contractor has filed a complaint with the Director of the Division of Minority and Women’s Business Development pursuant to 5 NYCRR § 142.12, liquidated damages shall be payable only in the event of a determination adverse to the Contractor following the complaint process.

  • Delay Liquidated Damages Delay Liquidated Damages has the meaning set out in GC 7.6.1.

  • Withholding for unpaid wages and liquidated damages The FHWA or the contacting agency shall upon its own action or upon written request of an authorized representative of the Department of Labor withhold or cause to be withheld, from any moneys payable on account of work performed by the contractor or subcontractor under any such contract or any other Federal contract with the same prime contractor, or any other federally-assisted contract subject to the Contract Work Hours and Safety Standards Act, which is held by the same prime contractor, such sums as may be determined to be necessary to satisfy any liabilities of such contractor or subcontractor for unpaid wages and liquidated damages as provided in the clause set forth in paragraph (2.) of this section.

  • Buyer’s Default Seller’s remedies shall be limited to liquidated damages in the amount of the Xxxxxxx Money set forth in Section IV. It is agreed that such payments and things of value are liquidated damages and are Seller’s sole and only remedy for Buyer’s failure to perform the obligations of this Agreement. The Parties agree that Seller’s actual damages in the event of Buyer’s default would be difficult to measure, and the amount of the liquidated damages herein provided for is a reasonable estimate of such damages.

  • Notice of Liquidated Damages System Agency will formally notify Grantee in writing when liquidated damages action is imposed, stating the nature of the action, the reasons for imposing, and the method of appealing. Grantee must submit a written appeal, within ten (10) calendar days of receipt of the notice, to the SUD email box, XxxxxxxxxXxxxx.Xxxxxxxxx@xxxx.xxxxx.xx.xx.

  • Seller’s Default Buyer may elect to treat this Agreement as cancelled, in which case all Xxxxxxx Money paid by Buyer hereunder shall be returned and Buyer may recover such damages as may be proper, or Buyer may elect to treat this Agreement as being in full force and effect and Buyer shall have the right to specific performance or damages, or both.

  • Payment of Liquidated Damages If you supply all or some of your milk to a third party during a Month you must, if required by DFMC, immediately pay to DFMC liquidated damages for that Month calculated as follows: $X = W cents x (Y – Z) Where: $X is the amount payable by you to DFMC for the relevant Month. If $X is a negative amount, no amount is payable by you. Y is the average monthly litres you have supplied to DFMC based on the 12 months immediately preceding the relevant Month (or in the event you have not supplied DFMC for 12 months, the average monthly litres you have supplied to DFMC during the period you have supplied DFMC). Z is the number of litres supplied to DFMC by you for the relevant Month.

  • Violation; liability for unpaid wages; liquidated damages In the event of any violation of the clause set forth in paragraph (1.) of this section, the contractor and any subcontractor responsible therefor shall be liable for the unpaid wages. In addition, such contractor and subcontractor shall be liable to the United States (in the case of work done under contract for the District of Columbia or a territory, to such District or to such territory), for liquidated damages. Such liquidated damages shall be computed with respect to each individual laborer or mechanic, including watchmen and guards, employed in violation of the clause set forth in paragraph (1.) of this section, in the sum of $10 for each calendar day on which such individual was required or permitted to work in excess of the standard workweek of forty hours without payment of the overtime wages required by the clause set forth in paragraph (1.) of this section.

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