Purchaser’s Remedies upon Seller’s Default. In the event Seller is in Default, Purchaser shall have the right, in addition to any other right or remedy available under applicable law, but not the obligation, in Purchaser’s own name, or in the name of Seller, to take any one or more of the following actions, simultaneously or in such sequence as Purchaser shall determine in Purchaser’s sole discretion:
Purchaser’s Remedies upon Seller’s Default. NOTWITHSTANDING ANYTHING TO THE CONTRARY IN THIS PURCHASE AGREEMENT, IF SELLER SHALL BE IN DEFAULT UNDER THE TERMS AND PROVISIONS OF THIS PURCHASE AGREEMENT, PURCHASER SHALL PROVIDE WRITTEN NOTICE TO SELLER OF ANY SUCH DEFAULT BY SELLER. IF SELLER DOES NOT THEREAFTER CURE OR COMMENCE CURING THE DEFAULT (IF IMPRACTICAL TO CURE THE ENTIRE DEFAULT) WITHIN THIRTY (30) CALENDAR DAYS OF SELLER’S RECEIPT OF PURCHASER’S WRITTEN NOTICE, PURCHASER MAY, PROVIDED THAT PURCHASER IS NOT THEN IN MATERIAL DEFAULT UNDER THIS PURCHASE AGREEMENT, ELECT TO TERMINATE THIS PURCHASE AGREEMENT BY WRITTEN NOTICE TO SELLER, IN WHICH EVENT PURCHASER’S CONTRACT DEPOSIT AND ANY OTHER AMOUNTS PAID BY PURCHASER TO SELLER UNDER THIS PURCHASE AGREEMENT SHALL BE RETURNED TO PURCHASER UPON DEMAND, WITH ACCRUED INTEREST DESCRIBED IN SECTION E.5 HEREOF. THE REFUND OF PURCHASER’S CONTRACT DEPOSIT AND OTHER AMOUNT PAID BY PURCHASER UNDER THE PURCHASE AGREEMENT SHALL BE PURCHASER’S ONLY DAMAGES AND ITS SOLE REMEDY IN THE EVENT OF SELLER’S DEFAULT HEREUNDER.
Purchaser’s Remedies upon Seller’s Default. If Sellers fail to consummate the sale of the Property pursuant to this Agreement for any reason other than default of Purchaser or termination hereof by Sellers in accordance with an express right granted to Sellers in this Agreement, Purchaser’s sole remedies shall be either (i) to receive a refund of the Deposit, together with its documented third-party costs and expenses incurred in connection with its inspection of the Property and negotiation of this Agreement, not to exceed Two Hundred Thousand U.S. Dollars ($200,000.00) , which refund and reimbursement shall operate to terminate this Agreement, whereupon neither party hereto shall have any further rights or obligations hereunder except as may expressly survive the termination of this Agreement, or (ii) to enforce specific performance of Sellers’ obligation to convey title to the Property to Purchaser. At no time will Purchaser be permitted to file a lis pendens or other lien against the Properties or record this Agreement.
Purchaser’s Remedies upon Seller’s Default. In the event the Closing fails to occur because of Seller’s default, it shall also constitute a default under the Asset Purchase Agreement. In such event, Purchaser shall be entitled enforce all of Purchaser’s rights and remedies under this Agreement and the Asset Purchase Agreement, including the right to (a) terminate this Agreement by written notice to Seller and may recover its damages, or (b) seek specific performance within the applicable statute of limitation periods. Seller waives the right to assert the defense of lack of mutuality in any suit for specific performance instituted by Purchaser. In the event of a Seller’s default, all escrow cancellation costs shall be paid by Seller. Nothing herein shall limit, waive or affect Seller’s indemnity obligations and Purchaser’s right to those indemnity obligations under this Agreement and the Asset Purchase Agreement. Purchaser shall be entitled to recover from Seller its reasonable attorneys’ fees, court costs and litigation expenses in connection herewith.
