Common use of Default by Seller Clause in Contracts

Default by Seller. If Seller, without the right to do so and in default of its obligations hereunder, fails to complete Settlement or otherwise materially breaches any of its representations, warranties or agreements hereunder, which failure is not cured within ten (10) days following receipt of written notice from Purchaser, then Purchaser, as its sole and exclusive remedy, may elect to either: (a) terminate this Agreement and have the Deposit returned to Purchaser as liquidated damages, whereupon Purchaser shall be deemed to have waived any right to recover any other amounts from Seller and the right to pursue any other remedy permitted at law or in equity against Seller, (b) waive the uncured default and proceed to Settlement, or (c) xxx for the remedy of specific performance to cause Seller to convey title to the Property to Purchaser in accordance with the terms of this Agreement. In no event shall Seller be liable for any damages whatsoever including, without limitation, consequential, special or punitive damages. The foregoing shall not limit Purchaser’s remedies under Section 18(i) below.

Default by Seller. If Seller, without the right to do so and in default of its obligations hereunder, fails to complete Settlement or otherwise materially breaches any of its representations, warranties or agreements hereunder, which failure is not cured within ten (10) days following receipt of written notice from Purchaser, then Purchaser, as its sole and exclusive remedy, may elect to either: (a) terminate this Agreement and have the Deposit returned to Purchaser as liquidated damages, whereupon Purchaser shall be deemed to have waived any right to recover any other amounts from Seller and the right to pursue any other remedy permitted at law or in equity against Seller, (b) waive the uncured default and proceed to Settlement, or (c) xxx sue for the remedy of specific performance to cause Seller to convey title to the Property to Purchaser in accordance with the terms of this Agreement. In no event shall Seller be liable for any damages whatsoever including, without limitation, consequential, special or punitive damages. The foregoing shall not limit Purchaser’s remedies under Section 18(i) below.

Default by Seller. If Seller, without the right to do so and in default of its obligations hereunder, Seller fails to complete Settlement or otherwise materially breaches perform any of its representationsthe covenants and agreements contained herein to be performed by Seller within the time for performance as specified herein (including Seller’s obligation to close), warranties or agreements hereunder, which failure is not cured within ten Purchaser may either (10) days following receipt of written notice from Purchaser, then Purchaser, as its sole and exclusive remedy, may elect to either: (a) terminate this Agreement and have the Deposit returned to Purchaser as liquidated damages, whereupon Purchaser shall be deemed to have waived any right to recover any other amounts from Seller and the right to pursue any other remedy permitted at law or in equity against Seller, (bi) waive the uncured default and proceed to SettlementClosing, (ii) terminate Purchaser’s obligations under this Agreement by written notice to Seller with a copy to Title Company, in which event the Deposit shall be returned to Purchaser or (ciii) xxx file an action for the remedy of specific performance to cause Seller to convey title to the Property to Purchaser in accordance with the terms of this Agreement. In no event shall addition, Purchaser may bring an action against Seller be liable for any damages whatsoever to recover the direct and documented actual costs incurred by Purchaser in connection with this transaction, including, without limitation, consequentialreasonable attorneys’ fees, special or punitive damages. The foregoing provided that the amount recoverable in any such action shall not limit Purchaser’s remedies under Section 18(iexceed an amount equal to two (2) belowtimes the amount of the Deposit. Purchaser shall have no other remedy for any default by Seller, including any right to proceed against Seller for any other damages of whatsoever nature and kind, including consequential damages.