Common use of Pre-Closing Purchaser’s Remedies Clause in Contracts

Pre-Closing Purchaser’s Remedies. If Seller, in respect to its obligations to close this transaction, is in material default under this Agreement on or before the Closing Date and Purchaser is not in material default, Purchaser may, as Purchaser's sole and exclusive remedies, elect to either (i) terminate this Agreement, in which event the Deposit shall be refunded to Purchaser, and neither Party shall have any further rights or obligations hereunder, except those specifically provided herein as surviving such termination, or (ii) seek and enforce the specific performance of Seller's obligations hereunder in which event Purchaser shall also be permitted to recover Litigation Expenses that it incurred as a result of such proceeding. Notwithstanding the foregoing, in no instance shall Purchaser or anyone claiming by, through or under Purchaser (over whom Purchaser has control) record or file in the public records in the jurisdiction of the Project any memorandum or other indicia of Purchaser's rights or Seller's obligations hereunder, except in the single instance of a recording or filing that is concurrently done at the time of the filing of a complaint by Purchaser, with a court of competent jurisdiction, for the relief of specific performance of Seller's obligations hereunder, but then only after Purchaser has given Seller three (3) business days written notice prior to such recording or filing ("Recording Restriction").

Pre-Closing Purchaser’s Remedies. If Seller, in respect to its obligations to close this transactionan applicable Phase, is in material default under this Agreement on or before the applicable Closing Date and Purchaser is not in material default, Purchaser may, as Purchaser's sole and exclusive remedies, elect to either (i) terminate this Agreement, in which event the Deposit (but only in respect to Phase I) shall be refunded to Purchaser, and neither Party shall have any further rights or obligations hereunder, except those specifically provided herein as surviving such termination, or (ii) seek and enforce the specific performance of Seller's obligations hereunder in which event Purchaser shall also be permitted to recover Litigation Expenses that it incurred as a result of such proceeding. Notwithstanding the foregoing, in no instance shall Purchaser or anyone claiming by, through or under Purchaser (over whom Purchaser has control) record or file in the public records in the jurisdiction of the Project any memorandum or other indicia of Purchaser's rights or Seller's obligations hereunder, except in the single instance of a recording or filing that is concurrently done at the time of the filing of a complaint by Purchaser, with a court of competent jurisdiction, for the relief of specific performance of Seller's obligations hereunder, but then only after Purchaser has given Seller three (3) business days written notice prior to such recording or filing ("Recording Restriction").

Pre-Closing Purchaser’s Remedies. If Seller, Seller in respect to its obligations to close this transactionan applicable Phase, is in material default under this Agreement on or before the applicable Closing Date and Purchaser is not in material default, Purchaser may, as Purchaser's sole and exclusive remedies, elect to either (i) terminate this Agreement, in which event the Deposit (but only in respect to Phase I) shall be refunded to Purchaser, and neither Party shall have any further rights or obligations hereunder, except those specifically provided herein as surviving such termination, or (ii) seek and enforce the specific performance of Seller's obligations hereunder in which event Purchaser shall also be permitted to recover Litigation Expenses that it incurred as a result of such proceeding. Notwithstanding the foregoing, in no instance shall Purchaser or anyone claiming by, through or under Purchaser (over whom Purchaser has control) record or file in the public records in the jurisdiction of the Project any memorandum or other indicia of Purchaser's rights or Seller's obligations hereunder, except in the single instance of a recording or filing that is concurrently done at the time of the filing of a complaint by Purchaser, with a court of competent jurisdiction, for the relief of specific performance of Seller's obligations hereunder, but then only after Purchaser has given Seller three (3) business days written notice prior to such recording or filing ("Recording Restriction").

Pre-Closing Purchaser’s Remedies. If Seller, in respect to its obligations to close this transaction, is in material default under this Agreement on or before the Closing Date 41 47 and Purchaser is not in material default, Purchaser may, as Purchaser's sole and exclusive remedies, elect to either (i) terminate this Agreement, in which event the Deposit shall be refunded to Purchaser, the Lump Sum Payment shall be retained and deemed earned by Seller, and neither Party shall have any further rights or obligations hereunder, except those specifically provided herein as surviving such termination, or (ii) seek and enforce the specific performance of Seller's obligations hereunder in which event Purchaser shall also be permitted to recover Litigation Expenses that it incurred as a result of such proceeding. Notwithstanding the foregoing, in no instance shall Purchaser or anyone claiming by, through or under Purchaser (over whom Purchaser has control) record or file in the public records in the jurisdiction of the Project any memorandum or other indicia of Purchaser's rights or Seller's obligations hereunder, except in the single instance of a recording or filing that is concurrently done at the time of the filing of a complaint by Purchaser, with a court of competent jurisdiction, for the relief of specific performance of Seller's obligations hereunder, but then only after Purchaser has given Seller three (3) business days written notice prior to such recording or filing ("Recording Restriction").