Common use of Seller’s Remedies for Purchaser’s Default Clause in Contracts

Seller’s Remedies for Purchaser’s Default. If a Purchaser’s Default occurs and provided no Seller’s Default has occurred that has not been cured, then Seller shall have the right to terminate this Agreement immediately by giving written notice to Purchaser, in which event Seller shall be entitled to the immediate receipt of the Xxxxxxx Money together with all interest accrued thereon as liquidated damages. The remedy set forth in the preceding provisions of this Section 8.1(b) shall be Seller’s sole and exclusive remedy, at law or in equity, for a Purchaser’s Default. In the event Seller terminates this Agreement, then the 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 or liabilities that expressly survive termination of this Agreement. SELLER AND PURCHASER ACKNOWLEDGE THAT IT WOULD BE EXTREMELY DIFFICULT IF NOT IMPOSSIBLE TO ASCERTAIN SELLER'S ACTUAL DAMAGES IN THE EVENT OF PURCHASER’S DEFAULT, AND THE XXXXXXX MONEY AND SUCH ACCRUED INTEREST IS A REASONABLE FORECAST OF JUST COMPENSATION TO SELLER RESULTING FROM PURCHASER’S DEFAULT.

Seller’s Remedies for Purchaser’s Default. If a Purchaser’s Default occurs and provided no Seller’s Default has occurred that has not been cured, then Seller shall have the right to terminate this Agreement immediately by giving written notice to Purchaser, in which event Seller shall be entitled to the immediate receipt of the Xxxxxxx Exxxxxx Money (or otherwise retain the released Exxxxxx Money and the Extension Deposit, if applicable), together with all interest accrued thereon as liquidated damages. The remedy set forth in the preceding provisions of this Section 8.1(b12.1(b) shall be Seller’s sole and exclusive remedy, at law or in equity, for a Purchaser’s Default; provided, however, that this provision shall not limit Purchaser’s indemnification of Seller in Section 6.2 above. In the event Seller terminates this Agreement, then the 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 or liabilities that expressly survive termination of this Agreement. SELLER AND PURCHASER ACKNOWLEDGE THAT IT WOULD BE EXTREMELY DIFFICULT IF NOT IMPOSSIBLE TO ASCERTAIN SELLER'S ACTUAL DAMAGES IN THE EVENT OF PURCHASER’S DEFAULTSeller and Purchaser acknowledge that it would be extremely difficult if not impossible to ascertain Seller’s actual damages in the event of Purchaser’s Default, AND THE XXXXXXX MONEY AND SUCH ACCRUED INTEREST IS A REASONABLE FORECAST OF JUST COMPENSATION TO SELLER RESULTING FROM PURCHASER’S DEFAULTand the Exxxxxx Money, the Extension Deposit (if applicable) and such accrued interest is a reasonable forecast of just compensation to Seller resulting from Purchaser’s Default.

Seller’s Remedies for Purchaser’s Default. If a Purchaser’s Default occurs and provided no Seller’s Default has occurred that has not been cured, then Seller shall have the right to terminate this Agreement immediately by giving written notice to Purchaser, in which event Seller shall be entitled to the immediate receipt of the Xxxxxxx Exxxxxx Money (or otherwise retain the released Exxxxxx Money together with all interest accrued thereon as liquidated damages. The remedy set forth in the preceding provisions of this Section 8.1(b12.1(b) shall be Seller’s sole and exclusive remedy, at law or in equity, for a Purchaser’s Default; provided, however, that this provision shall not limit Purchaser’s indemnification of Seller in Section 6.2 above. In the event Seller terminates this Agreement, then the 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 or liabilities that expressly survive termination of this Agreement. SELLER AND PURCHASER ACKNOWLEDGE THAT IT WOULD BE EXTREMELY DIFFICULT IF NOT IMPOSSIBLE TO ASCERTAIN SELLER'S ACTUAL DAMAGES IN THE EVENT OF PURCHASER’S DEFAULTSeller and Purchaser acknowledge that it would be extremely difficult if not impossible to ascertain Seller's actual Damages in the event of Purchaser’s Default, AND THE XXXXXXX MONEY AND SUCH ACCRUED INTEREST IS A REASONABLE FORECAST OF JUST COMPENSATION TO SELLER RESULTING FROM PURCHASER’S DEFAULTand the Exxxxxx Money and such accrued interest is a reasonable forecast of just compensation to Seller resulting from Purchaser’s Default.