Seller Default definition

Seller Default has the meaning set forth in Section 12.1.

Seller Default refers to the failure of this transaction to close due to nonperformance, breach and/or default with respect to the Seller’s obligation(s) under this Agreement; provided, however, if Seller is unable to convey the Property in accordance with the Conveyance Requirements, such inability shall constitute a failure of a condition under Section 4 above, and not a Seller Default. In the event of a Seller Default: (a) Buyer shall have the right to demand and receive a full refund of the Xxxxxxx Money; (b) upon such demand and Buyer’s receipt of the Xxxxxxx Money, this Agreement shall be completely terminated in all respects at such time; and (c) at Buyer’s option, at any time prior to such termination, Buyer may elect instead to seek specific performance of Seller’s obligations.

Seller Default shall have the meaning set forth in SECTION 11.1.

Examples of Seller Default in a sentence

If an Event of Seller Default or an Event of Servicer Default shall occur, Residential Funding may, at its option, exercise one or more of those remedies set forth in the Guides.
In the event of a Seller Default: (a) Buyer shall have the right to demand and receive a full refund of the Xxxxxxx Money; (b) upon such demand and Buyer’s receipt of the Xxxxxxx Money, this Agreement shall be completely terminated in all respects at such time; and (c) at Buyer’s option, at any time prior to such termination, Buyer may elect instead to seek specific performance of Seller’s obligations.
For purposes of this Agreement, any Event of Default, Servicer Default or Seller Default shall be deemed to be continuing until it is waived in accordance with the provisions set forth herein or in the applicable Transaction Document.
Further, if you fail for any reason to release the Equipment to the Buyer after a Binding Obligation is created, you will be subject to a Seller Default Fee in addition to any other rights or remedies that RB Group or Buyer may have.
The term “Seller Default” refers to the failure of this transaction to close due to nonperformance, breach and/or default with respect to the Seller’s obligation(s) under this Agreement; provided, however, if Seller is unable to convey the Property in accordance with the Conveyance Requirements, such inability shall constitute a failure of a condition under Section 6 above, and not a Seller Default.

Seller Default is defined in Section 12.1.

Seller Default is defined in Section 9.1.

Seller Default has the meaning set forth in Section 10.1(a).

Seller Default. Shall have the meaning given to it in Section 15.2.

Seller Default has the meaning set forth in Section 25.1(a).

Seller Default means any of the following events or circumstances (in each case, other than where solely due to Force Majeure, a Compensation Event, a System Event, Government Default or Unforeseeable Conduct):

Seller Default means any condition, act or event specified in Section 7.1 that, with the giving of notice or the lapse of time, or both, would become a Seller Event of Default.