Seller's Default; Purchaser's Remedies a. Seller's Default. Seller shall be deemed to be in default hereunder upon the occurrence of one of the following events: (i) any of Seller's warranties or representations set forth herein shall be untrue in any material respect when made or at Closing; or (ii) Seller shall fail to meet, comply with, or perform any covenant, agreement or obligation on its part required within the time limits and in the manner required in this Agreement, which, in either of such events, is not cured by Seller within ten (10) days following receipt by Seller of written notice of default from Purchaser.
Seller's Default; Purchaser's Remedies. If Seller is in material default hereunder and fails to cure such default within three (3) business days after Purchaser delivers written notice of such default to Seller (herein referred to as a “Seller default”), and if such Seller default occurs on or before Closing and Purchaser has notice thereof on or before Closing, then Purchaser shall have the option, as its sole recourse, to either (i) bring an action, within thirty (30) days following such Seller default, for the specific performance of this Agreement (ii) terminate this Agreement, whereupon Purchaser shall receive a return of the Deposit, together with net interest thereon, and this Agreement shall thereafter be deemed null and void and neither party shall have any further rights or obligations hereunder (subject, however, to survival of Purchaser’s Indemnity and Purchaser’s Confidentiality Obligations), or (iii) xxx for and receive damages, not to exceed $250,000.00. Purchaser agrees that it will deliver written notice of a Seller default to Seller within a reasonable time after Purchaser obtains actual knowledge of such Seller default. Nothing herein shall be deemed to imply that Seller’s warranty and indemnification obligations under Section 12 or Seller’s indemnification obligations described in Section 14.2(b) above shall be subject to any of the limitations on remedies contained in this Section 15.1.
Seller's Default; Purchaser's Remedies. If Seller fails to timely perform any material act, or provide any material document or information required to be provided by Seller, or if any material representation and warranty made by Seller pursuant to this Agreement is untrue when made, then Purchaser shall be entitled to either (i) terminate this Agreement, receive a refund of the Deposit and any interest earned thereon and seek Purchaser’s actual direct and reasonably verifiable third-party expenses arising from Seller’s breach; or (ii) seek specific performance of this Agreement.
Seller's Default; Purchaser's Remedies. (a)Seller's Default. Seller shall be deemed to be in default hereunder upon the occurrence of one of the following events: (i) any of Seller's warranties or representations set forth herein shall be untrue in any respect when made or at Closing; or (ii) Seller shall fail to meet, comply with, or perform any covenant, agreement or obligation on its part required within the time limits and in the manner required in this Agreement, which, in either of such events, is not cured by Seller within ten (10) days following receipt by Seller of written notice of default from Purchaser, unless such default cannot with due diligence be wholly cured within such period, in which case Seller shall have such longer period as shall be reasonably necessary to cure the default. (b)
Seller's Default; Purchaser's Remedies. (a) Seller's Default. Seller shall be deemed to be in default hereunder upon the occurrence of any one or more of the following events: (i) any of Seller's warranties or representations set forth herein shall be untrue in any material aspect when made or at Closing; or (ii) Seller shall fail in any material respect to meet, comply with, or perform any covenant, agreement or obligation on its part required within the time limits and in the manner required in this Agreement.
Seller's Default; Purchaser's Remedies. If Seller fails to sell the Property to Purchaser in accordance with this Agreement, or breaches any of its duties, obligations, representations or warranties contained in this Agreement in any material respect, or fails or is unable to deliver any of the documents required to be delivered by Seller hereunder, and provided that such failure or breach is not cured within ten (10) Business Days of the date on which Purchaser notifies Seller of such failure or breach, Purchaser, at its election and as its sole and exclusive legal and equitable remedies, shall be entitled to (i) terminate this Agreement and receive a refund of the Xxxxxxx Money Deposit and all Extension Fees, and recoup its Out of Pocket Expenses, (ii) waive the Seller’s default and proceed to close on the terms and conditions set forth in this Agreement without any adjustment to the Purchase Price, or (iii) xxx for specific performance of Seller’s obligations hereunder. Purchaser waives any right to pursue any other remedy at law or equity for such default of Seller, including, without limitation, any right to seek, claim or obtain damages, punitive damages or consequential damages, and in no case shall Seller ever be liable to Purchaser under any statutory, common law, equitable or other theory of law, either prior to or following the Closing, for any lost rents, profits, “benefit of the bargain,” business opportunities or any form of consequential damage in connection with any claim, liability, demand or cause of action in any way or manner relating to the Property, the condition of the Property, this Agreement, or any transaction or matter between the parties contemplated hereunder.
Seller's Default; Purchaser's Remedies. If Seller fails to perform its obligations hereunder within the time provided herein for any reason other than Purchaser’s default, Seller shall be deemed to be in default hereunder. Purchaser shall have the right to all remedies to which it may be entitled under law and shall have the right to enforce this Agreement by specific performance against the Seller.
Seller's Default; Purchaser's Remedies. (a) Seller’s Default. Seller shall be deemed to be in default hereunder upon the occurrence of the following events: (i) any of Seller’s warranties or representations set forth herein shall be materially untrue when made; or (ii) Seller shall fail to meet, comply with, or perform any material covenant, agreement or obligation on its part required within the time limits and in the manner required in this Agreement and shall fail to cure same within five (5) business days after receipt of written notice from Purchaser (provided that any cure period shall not operate to extend the Closing date).
Seller's Default; Purchaser's Remedies. If Seller breaches any of the covenants and/or agreements which are to be performed by Seller under this Agreement, Purchaser may (i) terminate this Agreement by giving written notice of termination to Seller, which notice need not be accompanied by any other document or consent of any other party hereto, and receive a full and immediate refund of the Property Xxxxxxx Money; or(ii) Purchaser may seek money damages and/or the equitable remedy of specific performance. Any claim for money damages shall be limited to an amount equal to the lesser of $100,000 or the amount of damages proven by Purchaser. These are Purchaser's sole remedies.
Seller's Default; Purchaser's Remedies. If Seller fails to sell the Property to Purchaser in accordance with this Agreement, or breaches any of its duties, obligations, representations or warranties contained in this Agreement, or fails or is unable to deliver any of the documents required to be delivered by Seller hereunder, Purchaser shall be entitled to terminate this Agreement and receive a refund of the Exxxxxx Money Deposit and Seller shall reimburse Purchaser for Purchaser’s Out of Pocket Expenses (up to an absolute cap of $50,000) or to pursue an action for specific performance, provided that any action for specific performance must be instituted by Purchaser within sixty (60) days of the applicable breach by Seller.
