Purchaser’s Remedies for Seller’s Default. If a Seller’s Default occurs and provided no Purchaser’s Default has occurred that has not been cured, then Purchaser shall have the right as its sole and exclusive remedies to either (i) terminate this Agreement immediately by giving written notice to Seller, in which event (a) Purchaser shall be entitled to the immediate return of the Exxxxxx Money and Extension Deposit (if applicable), less the Independent Consideration, together with all interest accrued thereon, and Seller shall immediately reimburse Purchaser for its actual out-of-pocket costs and expenses incurred in connection with this Agreement, up to a maximum of ONE HUNDRED SEVENTY-FIVE THOUSAND AND 00/100 DOLLARS ($175,000.00); and (b) this Agreement shall be of no further force and effect except for those provisions that expressly survive termination of the Agreement, or (ii) seek specific performance of Seller’s obligations under this Agreement. If Purchaser elects to seek such specific performance, Purchaser shall give Seller written notice of such election within thirty (30) days after the occurrence of such Seller’s Default, and thereafter commence an action seeking such specific performance within ninety (90) days after the occurrence of such Seller’s Default. In the event Purchaser terminates this Agreement in accordance with the terms of this Agreement, then this Agreement shall be of no further force and effect and the parties shall have no further rights, obligations, or liabilities hereunder, except for those obligations that expressly survive termination of the Agreement.
Purchaser’s Remedies for Seller’s Default. If a Seller’s Default occurs and provided no Purchaser’s Default has occurred that has not been cured, then Purchaser shall have the right as its sole and exclusive remedy to either (i) terminate this Agreement immediately by giving written notice to Seller, in which event (a) Purchaser shall be entitled to the immediate return of the Xxxxxxx Money, together with all interest accrued thereon and actual and verifiable costs paid to third-parties in connection with the evaluation of the Property and the negotiation of this transaction in an amount not to exceed $50,000.00 in the aggregate; and (b) this Agreement shall be of no further force and effect except for those provisions that expressly survive termination of the Agreement, or (ii) seek specific performance of Seller’s obligations under this Agreement. If Purchaser elects to seek such specific performance, Purchaser shall give Seller written notice of such election within thirty (30) days after the occurrence of such Seller’s Default, and thereafter commence an action seeking such specific performance within ninety (90) days after the occurrence of such Seller’s Default. In the event Purchaser terminates this Agreement in accordance with the terms of this Agreement, then this Agreement shall be of no further force and effect and the parties shall have no further rights, obligations, or liabilities hereunder, except for those obligations that expressly survive termination of the Agreement.
Purchaser’s Remedies for Seller’s Default. If a Seller's Default occurs, then, following the expiration of the cure or grace period, if any (and assuming Seller has not cured such Seller Default within such period), provided in subsection (a) above, Purchaser shall have the right to pursue one of the following remedies: (i) terminate this Agreement by giving notice thereof to Seller, in which event Purchaser shall be entitled to the immediate return of the Deposit and all interest earned thereon and shall be entitled to recover as exclusive damages Purchaser's reasonable costs and expenses incurred in conducting its due diligence investigation of the Gresham Manufacturing Division Facility; (ii) seek specific performance of Seller's obligations under this Agreement, including (A) any incidental damages and (B) consequential damages if Seller failed to close other than based upon a good faith dispute, or (iii) terminate this Agreement by giving notice thereof to Seller, receiving immediate return of the Deposit and all interest earned and pursuing a damage claim (beyond return of the Deposit and interest) for the breach provided that the damage claim may not exceed, unless based upon Fraud or a breach of the Fundamental Warranties, an additional amount equal to the Deposit plus prevailing party attorneys' fees and costs in the litigation.
Purchaser’s Remedies for Seller’s Default. If a Seller's Default occurs, then, following the expiration of the cure or grace period, if any, provided in subsection (a) above, Purchaser shall have the right, as its sole and exclusive remedy either (i) to terminate this Agreement by giving notice thereof to Seller, in which event Purchaser shall be entitled to the immediate return of the Deposit and all interest earned thereon and shall be entitled to recover Purchaser's costs and expenses incurred in conducting its due diligence investigation of the Property; or (ii) to seek specific performance of Seller's obligations under this Agreement. If Purchaser elects to terminate this Agreement, except as expressly provided otherwise herein, this Agreement shall be of no further force and effect and neither Purchaser nor Seller shall have any further rights, obligations or liabilities hereunder.
Purchaser’s Remedies for Seller’s Default. If a Seller’s Default occurs, then Purchaser shall have the right to (i) terminate this Agreement immediately by giving notice to Seller, in which event Purchaser shall comply with the requirements of Section 6.03(d) above and Purchaser shall be entitled to the immediate return of the Escrowed Funds; or (ii) seek specific performance of Seller's obligations hereunder (subject to the conditions precedent to, and limitations on, Seller's obligations hereunder as provided elsewhere in this Agreement); or (iii) Waive the breach, or default or other closing condition and proceed to consummate the transaction contemplated hereby without any adjustment of the Purchase Price in accordance with the provisions of this Agreements. The foregoing remedies shall be Purchaser’s sole and exclusive remedies hereunder, or at law or in equity, for a Seller’s Default. In the event that Purchaser validly terminates this Agreement, then the Escrow Agent shall immediately return the Escrowed Funds, and, upon such return of the Escrowed Funds and except as otherwise expressly provided otherwise herein, this Agreement shall be of no further force and effect and neither Purchaser nor Seller shall have any further rights, obligations or liabilities hereunder except for those obligations which survive such termination.
