Common use of REMEDIES OF BUILDER Clause in Contracts

REMEDIES OF BUILDER. Upon the occurrence of a Buyer Event of Default and the expiration of Buyer’s Cure Period, all amounts owed for any upgrades, options, extras, or Change Orders will, at the option of the Builder, become immediately due and payable without prejudice to any other remedy of the Builder and Builder may (but shall not be obligated to) discontinue performance of this Contract and (i) terminate this Contract, receive the Xxxxxxx Money, and retain all money previously paid by Buyer to Builder as liquidated damages thereby releasing both parties from this Contract; or (ii) terminate and seek recovery of any and all damages suffered by Builder. The remedy of specific performance is hereby waived by Builder and shall not be available in any action concerning this Contract. Notwithstanding the foregoing, if Xxxxx refuses to close, Builder not being in default, Builder will be entitled to pursue all remedies provided under Texas law, save and except specific performance.

REMEDIES OF BUILDER. Upon the occurrence of a Buyer Event of Default and the expiration of Buyer’s Cure Period, all amounts owed for any upgrades, options, extras, or Change Orders will, at the option of the Builder, become immediately due and payable without prejudice to any other remedy of the Builder and Builder may (but shall not be obligated to) discontinue performance of this Contract and (i) terminate this Contract, receive the Xxxxxxx Money, and retain all money previously paid by Buyer to Builder as liquidated damages thereby releasing both parties from this Contract; or (ii) terminate and seek recovery of any and all damages suffered by Builder. The remedy of specific performance is hereby waived by Builder and shall not be available in any action concerning this Contract. Notwithstanding the foregoing, if Xxxxx Buyer refuses to close, Builder not being in default, Builder will be entitled to pursue all remedies provided under Texas law, save and except specific performance.