Common use of Xxxxx's Default Clause in Contracts

Xxxxx's Default. 14.1 If the Buyer does not pay any monies due or is otherwise in default then, providing the Seller is not in default, the Seller may, in addition to and without limiting other remedies, including action for damages and/or specific performance, by notice in writing to the Buyer specifying the default, terminate or affirm this Contract. 14.2 Should the Seller terminate this Contract in accordance with Clause 14.1 the Seller may, without prejudice to any other rights: (1) claim forfeiture of the Deposit or call up any Bank Bond or Bank Guarantee provided in accordance with Clause 3.4; (2) resell the Property and provided such resale is completed within 12 months, any deficiency, including the expense of such resale, shall be recoverable by the Seller from the Buyer as liquidated damages; (3) retain the Property and sue the Buyer for damages for breach of this Contract; (4) claim any Deposit monies that are in arrears as a liquidated debt; and (5) appropriate the profit, if any, on resale. 14.3 Should the Seller affirm this Contract in accordance with Clause 14.1 the Seller may, without prejudice to any other rights: (1) sue the Buyer for specific performance of the Contract and/or damages for breach as well as, or in lieu of, specific performance of the Contract; and (2) recover from the Buyer, the Deposit or any part thereof the Buyer has failed to pay as a liquidated debt. 14.4 Damages will include: (1) professional fees and costs incurred to satisfy the terms of this Contract; and (2) legal costs on an indemnity basis.

Xxxxx's Default. 14.1 13.1 If the Buyer does not pay any monies due or is otherwise in default then, providing the Seller is not in default, the Seller may, in addition to and without limiting other remedies, including action for damages and/or specific performance, by notice in writing to the Buyer specifying the default, terminate or affirm this Contract. 14.2 13.2 Should the Seller terminate this Contract in accordance with Clause 14.1 13.1 the Seller may, without prejudice to any other rights: (1) claim forfeiture of the Deposit or call up any Bank Bond or Bank Guarantee provided in accordance with Clause 3.43.5; (2) resell the Property and provided such resale is completed within 12 months, any deficiency, including the expense of such resale, shall be recoverable by the Seller from the Buyer as liquidated damages; (3) retain the Property and sue the Buyer for damages for breach of this Contract; (4) claim any Deposit monies that are in arrears as a liquidated debt; and (5) appropriate the profit, if any, on resale. 14.3 13.3 Should the Seller affirm this Contract in accordance with Clause 14.1 13.1 the Seller may, without prejudice to any other rights: (1) sue the Buyer for specific performance of the Contract and/or damages for breach as well as, or in lieu of, specific performance of the Contract; and (2) recover from the Buyer, the Deposit or any part thereof the Buyer has failed to pay as a liquidated debt. 14.4 13.4 Damages will include: (1) professional fees and costs incurred to satisfy the terms of this Contract; and (2) legal costs on an indemnity basis.

Xxxxx's Default. 14.1 If the Buyer does not pay any monies due or is otherwise in default then, providing the Seller is not in default, the Seller may, in addition to and without limiting other remedies, including action for damages and/or specific performance, by notice in writing to the Buyer specifying the default, terminate or affirm this Contract. 14.2 Should the Seller terminate this Contract in accordance with Clause 14.1 the Seller may, without prejudice to any other rights: (1) claim forfeiture of the Deposit or call up any Bank Bond or Bank Guarantee provided in accordance with Clause 3.4; (2) resell the Property and provided such resale is completed within 12 months, any deficiency, including the expense of such resale, shall be recoverable by the Seller from the Buyer as liquidated damages; (3) retain the Property and sue the Buyer for damages for breach of this Contract; (4) claim any Deposit monies that are in arrears as a liquidated debt; and (5) appropriate the profit, if any, on resale. 14.3 Should the Seller affirm this Contract in accordance with Clause 14.1 the Seller may, without prejudice to any other rights: (1) sue the Buyer for specific performance of the Contract and/or damages for breach as well as, or in lieu of, specific performance of the Contract; and (2) recover from the Buyer, the Deposit or any part thereof the Buyer has failed to pay as a liquidated debt. 14.4 Damages will include: (1) professional fees and costs incurred to satisfy the terms of this Contract; and. (2) legal costs on an indemnity basis.