Common use of Other Seller Defaults Clause in Contracts

Other Seller Defaults. If (A) any Seller does not timely perform its obligations under SECTION 6.2(a) for any reason other than (i) Buyer's failure to timely perform its obligations under SECTION 6.2(b) or (ii) an act that falls under SECTION 7.2(a) (or the termination of this Contract under any applicable provision of this Contract), or (B) any Seller does not timely perform any of its material obligations under this Contract other than its obligations under SECTION 6.2(a) (for any reason other than the termination of this Contract) under any applicable provision of this Contract and does not cure the default within 10 business days after receipt of written notice of the default from Buyer, then Buyer shall, as its sole and exclusive remedy, waiving all other remedies, either: (i) enforce specific performance of such Seller's obligation to convey its Partnership Interest to Buyer in accordance with this Contract; or (ii) terminate this Contract by giving notice to each Seller within 5 business days thereafter, then Closing Agent shall return the Xxxxxxx Money and, as applicable, the Letter of Credit to Buyer and the parties have no further rights, liabilities, or obligations under this Contract (other than those that expressly survive termination). Buyer is deemed to elect to terminate this Contract, receive a return of the Xxxxxxx Money and, as applicable, the Letter of Credit as liquidated damages, and waive any right to enforce specific performance against Sellers unless Buyer complies with its obligations under SECTION 6.2(b) on the Closing Date, gives Sellers notice of its intent to enforce specific performance within 60 days after the Closing Date, and files an action to enforce specific performance against each Seller in an appropriate State court having jurisdiction over the Real Property within 2 years and 1 day after the Closing Date.

Other Seller Defaults. If (A) any Seller does not timely perform its obligations under SECTION 6.2(a) for any reason other than (i) Buyer's failure to timely perform its obligations under SECTION 6.2(b) or (ii) an act that falls under SECTION 7.2(a) (or the termination of this Contract under any applicable provision of this Contract), ) or (B) any Seller does not timely perform any of its material obligations under this Contract other than its obligations under SECTION 6.2(a) (for any reason other than the termination of this Contract) Contract under any applicable provision of this Contract Contract) and does not cure the default within 10 business days after receipt of written notice of the default from Buyer, then Buyer shall, as its sole and exclusive remedy, waiving all other remedies, either: (i) enforce specific performance of such Seller's obligation to convey its Partnership Interest the Property to Buyer in accordance with this Contract; or (ii) terminate this Contract by giving notice to each Seller within 5 business days thereafter, then Closing Agent shall return the Xxxxxxx Earnest Money and, as applicable, the Letter of Credit Lexxxx xx Credit, to Buyer Buyer, and the parties have no further rights, liabilities, or obligations under this Contract (other than those that expressly survive termination). Buyer is deemed to elect to terminate this Contract, receive a return of the Xxxxxxx Earnest Money and, as applicable, the Letter of Credit as Cxxxxx xs liquidated damages, and waive any right to enforce specific performance against Sellers unless Buyer complies with its obligations under SECTION 6.2(b) on the Closing Date, gives Sellers notice of its intent to enforce specific performance within 60 days after the Closing Date, Date and files an action to enforce specific performance against each Seller in an appropriate State court having jurisdiction over the Real Property within 2 years and 1 day after the Closing Date.

Other Seller Defaults. If (A) any Seller does not timely perform its obligations under SECTION 6.2(a) for any reason other than (i) Buyer's failure to timely perform its obligations under SECTION 6.2(b) or (ii) an act that falls under SECTION 7.2(a) (or the termination of this Contract under any applicable provision of this Contract), ) or (B) any Seller does not timely perform any of its material obligations under this Contract other than its obligations under SECTION 6.2(a) (for any reason other than the termination of this Contract) Contract under any applicable provision of this Contract Contract) and does not cure the default within 10 business days after receipt of written notice of the default from Buyer, then Buyer shall, as its sole and exclusive remedy, waiving all other remedies, either: (i) enforce specific performance of such Seller's obligation to convey its Partnership Interest the Property to Buyer in accordance with this Contract; or (ii) terminate this Contract by giving notice to each Seller within 5 business days thereafter, then Closing Agent shall return the Xxxxxxx Earnest Money and, as applicable, the Letter of Credit Letxxx xx Credit, to Buyer Buyer, and the parties have no further rights, liabilities, or obligations under this Contract (other than those that expressly survive termination). Buyer is deemed to elect to terminate this Contract, receive a return of the Xxxxxxx Earnest Money and, as applicable, the Letter of Credit as Crxxxx xx liquidated damages, and waive any right to enforce specific performance against Sellers unless Buyer complies with its obligations under SECTION 6.2(b) on the Closing Date, gives Sellers notice of its intent to enforce specific performance within 60 days after the Closing Date, Date and files an action to enforce specific performance against each Seller in an appropriate State court having jurisdiction over the Real Property within 2 years and 1 day after the Closing Date.