Common use of Optionee Clause in Contracts

Optionee. If Owner breaches any term or provision of this Option Agreement, then Optionee, as its exclusive remedy and in lieu of any other relief, may either (1) terminate this Option Agreement and obtain the return of all Option Money Payments previously paid to Owner or (2) tender performance of the obligations of Optionee and specifically enforce all obligations of Owner under this Option Agreement. Except as noted in Section 4.3 and any specific remedies reserved elsewhere in this Option Agreement, Optionee waives the right to pursue any remedy in law or equity against Owner other than the remedies specified above, including any action for damages, in the event of a default by Owner.

Optionee. If Owner breaches any term or provision of this Option Agreement, then Optionee, as its exclusive remedy and in lieu of any other relief, may either (1) terminate this Option Agreement and obtain the return of all Option Money Payments previously paid to Owner or (2) tender performance of the obligations of Optionee and specifically enforce all obligations of Owner under this Option Agreement. Except as noted in Section 4.3 6.3 and any specific remedies reserved elsewhere in this Option Agreement, Optionee waives the right to pursue any remedy in law or equity against Owner other than the remedies specified above, including any action for damages, in the event of a default by Owner.