Common use of SELLER'S LIQUIDATED DAMAGES Clause in Contracts

SELLER'S LIQUIDATED DAMAGES. As more fully described in the Deposit Escrow Agreement, in the event this Agreement is terminated because of Buyer's material breach of this Agreement, and all other conditions to Closing are at such time satisfied or waived (other than such conditions as can reasonably be satisfied by Closing), then the Escrow Deposit shall be delivered to Seller, and the proceeds thereof shall constitute liquidated damages. It is understood and agreed that such liquidated damages amount represents Buyer's and Seller's reasonable estimate of actual damages and does not constitute a penalty. Recovery of liquidated damages shall be the sole and exclusive remedy of Seller against Buyer for failing to consummate this Agreement as a result of Buyer's material breach hereof, and shall be applicable regardless of the actual amount of damages sustained and all other remedies are deemed waived by Seller. The provision for liquidated damages contained herein, however, shall not limit the damages which Seller may be entitled to recover from Buyer for Buyer's breach of the Time Brokerage Agreement.

SELLER'S LIQUIDATED DAMAGES. As more fully described in the Deposit Escrow Agreement, in the event this Agreement is terminated because of Buyer's Buyers' material breach of this Agreement, and all other conditions to Closing are at such time satisfied or waived (other than such conditions as can reasonably be satisfied by Closing), then the Escrow Deposit shall be delivered to Seller, and the proceeds thereof shall constitute liquidated damages. It is understood and agreed that such liquidated damages amount represents Buyer's Buyers' and Seller's reasonable estimate of actual damages and does not constitute a penalty. Recovery of liquidated damages shall be the sole and exclusive remedy of Seller against Buyer Buyers for failing to consummate this Agreement as a result of Buyer's Buyers' material breach hereof, and shall be applicable regardless of the actual amount of damages sustained and all other remedies are deemed waived by Seller. The provision for liquidated damages contained hereinreceipt of such amount, however, shall not limit affect the damages which right of Seller may to enforce specific provisions of this Agreement relating to confidentiality in equity and to recover, to the extent allowed, costs and expenses incurred in such enforcement Notwithstanding the foregoing, Seller shall be entitled to recover from Buyer for Buyer's breach its reasonable attorneys fees and costs of collection and enforcement of the Time Brokerage AgreementDeposit Escrow Agreement from the Buyers in addition to the Escrow Deposit.

SELLER'S LIQUIDATED DAMAGES. As more fully described in If the Deposit Escrow Agreement, in the event parties hereto shall fail to consummate this Agreement is terminated because of on the Closing Date due solely to Buyer's material breach of this Agreement, and all other conditions to Closing are Seller is not at such that time satisfied or waived (other than such conditions as can reasonably be satisfied by Closing)in material breach hereof, then Seller shall be entitled to retain the Escrow Deposit shall be delivered to SellerDeposit, and the proceeds thereof plus interest, which amount shall constitute liquidated damages. It is understood and agreed that such liquidated damages amount represents Buyer's and Seller's reasonable estimate of actual damages and does not constitute a penalty. Recovery of liquidated damages shall be the sole and exclusive remedy of Seller against Buyer for failing to consummate this Agreement as a result of Buyer's material breach hereof, hereof and shall be applicable regardless of the actual amount of damages sustained and all other remedies are deemed waived by Seller. The provision for In the event of a default by Buyer which results in the filing of a lawsuit to recover the Escrow Deposit as liquidated damages contained hereindamages, however, Seller shall not limit the damages which Seller may be entitled to recover from reimbursement by Buyer for Buyer's breach of the Time Brokerage Agreementreasonable legal fees and expenses incurred by Seller; provided that Seller prevails in such lawsuit.

SELLER'S LIQUIDATED DAMAGES. As more fully described in the Deposit Escrow Agreement, in the event this Agreement is terminated because of Buyer's material breach of this Agreement, and all other conditions within the Seller's control to Closing are at such time satisfied or waived (other than such conditions as can reasonably be satisfied by Closing), then the Escrow Deposit shall be delivered to Seller, and the proceeds thereof shall constitute liquidated damages. It is understood and agreed that such liquidated damages amount represents Buyer's and Seller's reasonable estimate of actual damages and does not constitute a penalty. Recovery of liquidated damages shall be the sole and exclusive remedy of Seller against Buyer for failing to consummate this Agreement as a result of Buyer's material breach hereof, and shall be applicable regardless of the actual amount of damages sustained and all other remedies are deemed waived by Seller. The provision Seller acknowledges and agrees that the Escrow Deposit may be used to pay liquidated damages under the Topaz Merger Agreement and in such an event, the amount of liquidated damages that can be paid hereunder shall be reduced by the amount so paid under the Topaz Merger Agreement. In the event of a default by Buyer, which results in the filing of a lawsuit for liquidated damages contained hereindamages, however, Seller shall not limit the damages which Seller may be entitled to recover from reimbursement by Buyer for Buyer's breach of the Time Brokerage Agreementreasonable legal fees and expenses incurred by Seller.