Common use of TIME OF ESSENCE/REMEDIES Clause in Contracts

TIME OF ESSENCE/REMEDIES. Time is of the essence hereof. If any note or check received as exxxxxx money hereunder or any other payment thus hereunder is not paid, honored or rendered when due, or if any other obligation hereunder is not performed or waived as herein provided, there shall be the following remedies: (a) IF BUYER IS IN DEFAULT: Liquidated Damages. All payments received hereunder shall be forfeited by Bxxxx and retained on behalf of the Seller and both parties shall thereafter be released from all obligations hereunder. It is agreed that such payments are LIQUIDATED DAMAGES and are SELLER’S SOLE AND ONLY REMEDY for Bxxxx’s failure to perform the obligations of this contract. Seller expressly waives the remedies of specific performance and additional damages. (b) IF SELLER IS IN DEFAULT: Buyer may elect to treat this contract as cancelled, in which case all payments received hereunder shall be returned, or Buyer may elect to treat this contract as being in full force and effect and Buyer shall have the right to specific performance but not damages.

TIME OF ESSENCE/REMEDIES. Time is of the essence hereof. If any note or check received as exxxxxx money hereunder or any other payment thus due hereunder is not paid, honored or rendered tendered when due, or if any other obligation hereunder is not performed or waived as herein provided, there shall be the following remedies: (a) IF BUYER IS IN DEFAULT: Liquidated Damages. All payments Seller may elect to treat this contract as cancelled, in which case all payment and things of value received hereunder shall be forfeited by Bxxxx and retained on behalf of Seller, and Seller may recover such damages as may be proper, or Seller may elect to treat this contract as being in full force and effect and Seller shall have the Seller and both parties shall thereafter be released from all obligations hereunder. It is agreed that such payments are LIQUIDATED DAMAGES and are SELLER’S SOLE AND ONLY REMEDY for Bxxxx’s failure right to perform the obligations of this contract. Seller expressly waives the remedies of specific performance and additional or damages, or both. (b) IF SELLER IS IN DEFAULT: Buyer may elect to treat this contract as cancelled, ; in which case all payments and things of value received hereunder shall be returnedreturned and Buyer may recover such damages as may be proper, or Buyer may elect to treat this contract as being in full force and effect and Buyer shall have the right to specific performance but not or damages, or both.

TIME OF ESSENCE/REMEDIES. Time is of the essence hereof. If any note or check received as exxxxxx money hereunder or any other payment thus hereunder is not paid, honored or rendered when due, or if any other obligation hereunder is not performed or waived as herein provided, there shall be the following remedies: (a) IF BUYER IS IN DEFAULT: Liquidated Damages. All If Buyer is in default, all payments received hereunder shall be forfeited by Bxxxx Buyer and retained on behalf of the by Seller and both parties shall thereafter be released from all obligations hereunder. It is agreed that such payments are LIQUIDATED DAMAGES and are SELLER’S SOLE AND ONLY REMEDY for BxxxxBuyer’s failure to perform the obligations of this contractContract. Seller expressly waives the any and all other remedies of specific performance and and/or additional damages. (b) IF SELLER IS IN DEFAULT: If Seller is in default, Buyer may elect to treat this contract Contract as cancelledcanceled, in which case all payments received hereunder shall be returnedreturned and Buyer may recover such damages as may be proper, or Buyer may elect to treat this contract Contract as being in full force and effect and Buyer shall have the right to specific performance but not or damages, or both.

TIME OF ESSENCE/REMEDIES. Time is of the essence hereof. If any note or check received as exxxxxx xxxxxxx money hereunder or any other payment thus due hereunder is not paid, honored or rendered tendered when due, or if any other obligation hereunder is not performed or waived as herein provided, there shall be the following remedies: (a) IF BUYER IS IN DEFAULT: Liquidated Damages. All payments received hereunder Seller may elect to treat this contract as canceled, and Seller may recover such damages as may be proper, or Seller may elect to treat this contract as being in full force and effect and Seller shall be forfeited by Bxxxx and retained on behalf of have the Seller and both parties shall thereafter be released from all obligations hereunder. It is agreed that such payments are LIQUIDATED DAMAGES and are SELLER’S SOLE AND ONLY REMEDY for Bxxxx’s failure right to perform the obligations of this contract. Seller expressly waives the remedies of specific performance and additional or damages, or both. (b) IF SELLER IS IN DEFAULT: Buyer may elect to treat this contract as cancelledcanceled, in which case all payments and things of value received hereunder shall be returnedreturned and Buyer may recover such damages as may be proper, or Buyer may elect to treat this contract as being in full force and effect and Buyer shall have the right to specific performance but not or damages, or both.