Seller’s Default definition

Seller’s Default means that the Seller breached its representations, warranties, covenants, or agreements under this Agreement, or failed or is unable to consummate the sale of the Property by the Closing Date. The Purchaser may, no later than ten (10) days after receiving actual knowledge of the Seller’s Default, give the Seller written notice electing one of the following options:

Seller’s Default has the meaning set forth in Section 10.1.

Seller’s Default has the meaning set forth in Section 10.1 of this Agreement.

Examples of Seller’s Default in a sentence

• Seller’s Security is calculated against the Seller’s Default Price (SDP) for the relevant Delivery Day.

• If Seller is or becomes the subject of a Change in Ownership, Buyer may at its discretion terminate this AGREEMENT or a Purchase Order for default, Seller’s Default, at no cost to Buyer, and notwithstanding any termination, Seller shall take all measures reasonably necessary to protect Buyer’s Property and any proprietary information.

• The Buyer will estimate Seller’s Default Service load obligations within the Buyer’s service territory and report the hourly results to the ISO on a daily basis.

• If Seller is or becomes the subject of a Change in Ownership, Buyer may at its discretion terminate this Agreement or a Purchase Order for default under Article 22, Seller’s Default, at no cost to Buyer, and notwithstanding any termination, Seller shall take all measures reasonably necessary to protect Buyer’s Property and any proprietary information.

• If Seller fails to perform any of its obligations under this contract or if any of Seller’s representations are not true and correct as of the Effective Date or on the Closing Date (Seller’s Default), Buyer may as its sole and exclusive remedy terminate this contract by giving notice to Seller on or before the Closing Date and Closing Time and have the Earnest Money, less$100.00 as independent consideration for the right granted by Seller to Buyer to terminate this contract returned to Buyer.

More Definitions of Seller’s Default

Seller’s Default has the meaning specified in § 8.5(a);

Seller’s Default means Seller’s failure to perform its obligation to convey the Property to Purchaser in accordance with the terms of this Agreement (as opposed to the failure of a condition listed in Section 12.1 over which Seller had no reasonable control), provided: (1) the reasons for such refusal do not include conditions beyond Seller’s reasonable control or the non-conformance of title with the conditions described in Section 6.2; and (2) Purchaser has satisfied all conditions required to be satisfied by it under this Agreement, is not otherwise in default under this Agreement, and is ready, willing and able to perform all of its obligations under this Agreement and to deliver the Purchase Price due Seller under this Agreement (without tender thereof being required). In no event may Purchaser bring an action against Seller for damages or seek any remedy (whether or not in an action at law or in equity) against Seller on account of a Seller’s default prior to the Closing that could require Seller to pay any monies to Purchaser (other than the Capped Expenses Amount) whether characterized as damages or otherwise (except for an action (i) to compel Escrowee to return the Deposit to Purchaser if Purchaser is, in fact, entitled to the return thereof in accordance with this Agreement or (ii) with respect to any failure of Seller to pay the Break-Up Fee (defined below) (if applicable) under Section 35.2.3). The untruth or inaccuracy of any representation or warranty of Seller shall not entitle Purchaser to pursue damages or specific performance under this Section 16, but shall be governed by Section 33 of this Agreement.

Seller’s Default shall not include Buyer’s exercise of its termination rights under Sections 13, 14 or 15, except in the case of Seller’s (x) failure to remove any mortgage or lien securing a definite or ascertainable amount, or (y) gross negligence or willful misconduct.

Seller’s Default. As defined in Section 15.2(g) hereof.

Seller’s Default shall have the meaning ascribed to it in Section 10.1 hereof.

Seller’s Default has the meaning set forth in clause (3) of Section 9.14(a) "Rights To Terminate."

Seller’s Default is defined in the Master Agreement.