Examples of Cancellation Fee in a sentence
Purchaser understands and agrees that Escrow may charge Purchaser a Cancellation Fee in the event this Purchase Agreement is canceled, provided that such cancellation fee shall not exceed Two Hundred Fifty and No/100 Dollars ($250.00), as provided in the Escrow Agreement ("Cancellation Fee").
In the event that Seller fails to complete construction of the Unit by the Completion Deadline, as the same may be extended by reason of Force Majeure, to the extent permitted by applicable law, Purchaser's sole remedy shall be to cancel this Purchase Agreement and receive a refund of all monies paid, plus any interest earned thereon, less any escrow Cancellation Fee and other costs associated with the purchase, up to a maximum of Two Hundred Fifty and No/100 Dollars ($250.00).
In the event of a foreclosure, Purchaser's Contract Deposit, less the Cancellation Fee, may be refunded unless said deposit(s) has been approved for use by Seller to pay for construction costs in accordance with Section 5.6.2 of the Public Report.
If Seller exercises this right to cancel, Seller will cause Escrow to return to Purchaser all of Purchaser's deposits, without interest, and neither party will have any further obligations under this Purchase Agreement or relating to the Project; except that Purchaser shall be responsible to pay from Purchaser's deposits in Escrow: (i) any Escrow or HHFDC Cancellation Fee, and (ii) any other incurred charges and processing fee.