Common use of Purchasers Default Sellers Remedies Clause in Contracts

Purchasers Default Sellers Remedies. If Purchaser wrongfully fails to purchase the Property on the Closing Date in accordance with the terms hereof then Seller, as its sole and exclusive remedy at law or in equity, shall receive the Xxxxxxx Money Deposit from Escrow Agent as liquidated damages. Purchaser and Seller acknowledge and agree that damages which would be sustained by Seller in the event of a breach by Purchaser of its obligations under this Agreement are difficult to determine and in such event that the Xxxxxxx Money Deposit represents a reasonable estimate of such damages and is not intended as a penalty.

Purchasers Default Sellers Remedies. If Purchaser wrongfully fails to purchase the Property on the Closing Date in accordance with breach of the terms hereof then Seller, as its sole and exclusive remedy at law or in equity, shall receive the Xxxxxxx Exxxxxx Money Deposit from Escrow Agent as liquidated damages and all other claims for losses, damages, costs and expenses being waived hereby. Purchaser and Seller acknowledge and agree that damages which would be sustained by Seller in the event of a breach by Purchaser of its obligations under this Agreement are difficult to determine and in such event that the Xxxxxxx Exxxxxx Money Deposit represents a reasonable estimate of such damages and is not intended as a penalty.