Seller Default has the meaning set forth in Section 11.2.

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 is defined in Section 12.1.

Examples of Seller Default in a sentence

If a Party’s failure to perform its obligations under this Agreement is due to a Force Majeure Event, then such failure shall not be deemed a Seller Default or a Host Default, as the case may be.
If a Seller Default as described in Section 13.2 has occurred and is continuing, and if Seller fails to correct or cure the conditions causing such Seller Default within ten (10) days after Seller shall have received Host’s written notice of Host’s intent to terminate this Agreement as a result of such Seller Default, then this Agreement shall terminate and be of no further force or effect as of the last day of such ten (10) day period.
If any Seller Default described under Section 13.2 has occurred and Host has terminated this Agreement as a result thereof in accordance with the terms of Section 13.3(a)(i), then Seller’s sole liability to Host in respect of such Seller Default shall be the removal of the System at Seller’s sole cost and expense or Host may purchase the System from the Seller for the greater of Fair Market Value or Termination Value.

More Definitions of Seller Default

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

Seller Default is defined in Section 9.1.

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 has the meaning specified in Section 7.1.

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.

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):