Common use of LIQUIDATED DAMAGES PROVISION Clause in Contracts

LIQUIDATED DAMAGES PROVISION. If the transaction described in this Contract fails to close strictly in accordance with the terms of said Contract because of the failure or default of Buyer in the performance of Buyer’s obligation in accordance with said Contract, the Buyer’s xxxxxxx money deposit and any additional deposits shall be delivered to or retained by Seller as Seller’s sole remedy and right to damages. Seller shall notify any Title Company, Escrow Agent or Broker which may be holding any such xxxxxxx money or additional deposits in writing of such failure or default by Buyer and the person holding such funds shall act without any further instruction by any party and is hereby irrevocably instructed to act on such notice or request and shall deliver the xxxxxxx money deposit and any additional deposits to Seller without any further notice or consent from Buyer. The parties agree that Xxxxxx’s actual damages, in the event of the default of Buyer, would be difficult or impossible to determine. Therefore, said deposit has been agreed upon after negotiations, as the parties’ best estimate of Seller’s actual damages.

LIQUIDATED DAMAGES PROVISION. If the transaction described in this Contract Addendum fails to close strictly in accordance with the terms of said the Contract and this Addendum because of the failure or default of Buyer in the performance of Buyer’s obligation in accordance with said Contractdescribed herein, the Buyer’s xxxxxxx money deposit and any additional deposits shall be delivered to or retained by Seller as Seller’s sole remedy and right to damages. Seller shall notify any Title Companytitle company, Escrow Agent escrow agent or Broker broker which may be holding any such xxxxxxx money or additional deposits in writing of such failure or default by Buyer and default. Upon such notice, the person holding such funds shall act without any further instruction by any party and is hereby irrevocably instructed to act on such notice or request request, and shall to deliver the xxxxxxx money deposit and any additional deposits to Seller without any further notice or consent from Buyer. The parties agree that XxxxxxSeller’s actual damages, in the event of the default of Buyer, would be difficult or impossible to determine. Therefore, said deposit has been agreed upon after negotiations, as the parties’ best estimate of Seller’s actual damages.. Seller’s Initials Buyer’s Initials

LIQUIDATED DAMAGES PROVISION. If the transaction described in this Contract Addendum fails to close strictly in accordance with the terms of said the Contract and this Addendum because of the failure or default of Buyer in the performance of Buyer’s obligation in accordance with said Contractdescribed herein, the Buyer’s xxxxxxx money deposit and any additional deposits shall be delivered to or retained by Seller as Seller’s sole remedy and right to damages. Seller shall notify any Title Companytitle company, Escrow Agent escrow agent or Broker broker which may be holding any such xxxxxxx money or additional deposits in writing of such failure or default by Buyer and default. Upon such notice, the person holding such funds shall act without any further instruction by any party and is hereby irrevocably instructed to act on such notice or request request, and shall to deliver the xxxxxxx money deposit and any additional deposits to Seller without any further notice or consent from Buyer. The parties agree that Xxxxxx’s actual damages, in the event of the default of Buyer, would be difficult or impossible to determine. Therefore, said deposit has been agreed upon after negotiations, as the parties’ best estimate of Seller’s actual damages.. Seller’s Initials Buyer’s Initials